Before USC Interco was registered with the charter capital of VND 144,000 billion, there had been 5 enterprises with charter capital of billions of dollars in Vietnam. There has just been a business registering its charter capital of VND 144,000 billion (equivalent to USD 6.3 billion) which has attracted the attention of the public. The name of that company is USC Commerce Service and International Investment Consultant Joint Stock Company (USC Interco., JSC), located at 234 Lai Lai Xa Street, Kim Chung Commune, Hoai Duc District, Hanoi. This business is registered to operate mainly in the field of construction.
According to the list of founding shareholders, the largest shareholder of the enterprise is Nguyen Hoan Son, a permanent resident in Thuan Thanh district, Bac Ninh province, holding 40% of the shares. Following are Kim Thi Phuong with permanent residence in Dan Phuong district, Hanoi, holding 30% of the shares and Tran Gia Phong with permanent residence in Dan Phuong district, Hanoi, holding 30% of the shares. The legal representative of the business is Mr. Tran Gia Phong, and the Director is Kim Thi Phuong.
If the charter capital is fully contributed, this will be the 6th enterprise in Vietnam, following PVN, EVN and Viettel and 2 FDI enterprises (Formosa Ha Tinh and Vietnam Beverage), to have charter capital of over VND 100,000 billion. The figure of VND 144,000 billion helps this company surpass Viettel, Vietnam Beverage to rank third in the top companies with the highest charter capital in Vietnam. Following is a detailed list of 5 multi-billion-dollar companies in Vietnam:
PVN, formerly known as Vietnam Oil and Gas Company, was established in 1977 to carry out cooperation missions with foreign companies in the field of oil and gas exploration and exploitation in Vietnam. After 4 decades of development, PVN has played an extremely important role in the economy, besides ensuring energy security and national sovereignty.
In 2019, PVN's revenue was estimated at nearly VND 710,000 billion, exceeding 16% of the year plan. State budget contribution by PVN was estimated at nearly VND 100,000 billion, exceeding 11% of the year plan. Capital preservation coefficient reached 1.01 times, ensuring safety and development. Currently, PVN has chartered capital of VND 281,500 billion, topping the list of enterprises with multi-billion-dollar charter capital in Vietnam.
EVN is Vietnam's main electricity producer, accounting for about two thirds of the country's total generating capacity. This group has member companies including 5 power corporations, 3 power generation corporations, Hoa Binh hydroelectric plant, Son La hydroelectric plant, Lai Chau hydroelectric plant, etc. In 2018, EVN saw a profit of VND 698,701 billion, equivalent to an after-tax profit-equity ratio of 0.47%. The current charter capital of EVN is VND 194,100 billion. This is a state-owned economic corporation with the charter capital ranked 2nd in the top 5 enterprises with the largest charter capital in Vietnam.
In order to implement the Formosa Ha Tinh iron and steel complex project, in 2008, Taiwan Formosa Plastic Group established Hung Nghiep Formosa Iron and Steel Industrial Co., Ltd. - FHS. After many times of raising capital to implement the project, the charter capital of FHS is currently VND 183,300 billion. In 2015, FHS started operating and importing billet to produce hot rolled steel.
After focusing on solving environmental incidents in 2016, FHS put 2 digital blast furnaces into operation to increase production capacity. In 2018, the steel production of the plant reached more than 5 million tons, revenue reached USD2.6 billion, contributing VND 7,388 billion to the state budget. In 2019, 5.8 million tons of FHS steel were consumed, and its revenue reached USD 3.05 billion, contributing VND 7,830 billion to the state budget.
Since being officially put into operation, FHS has contributed over VND 21,400 billion to the budget of Ha Tinh province. This project is creating jobs for 14,200 workers, including 1,819 foreign workers and 12,400 Vietnamese workers. FHS is currently an important project to attract businesses in supporting industries, services and tourism in Vung Ang Economic Zone.
Viettel was formerly known as Electronics and Communication Equipment Corporation (Sigelco), which was established in 1989, before changing its name to Military Telecom Company under the Information Infantry. At the end of 2004, this enterprise was transformed into Military Telecom Corporation under the Ministry of Defense.
In the beginning of 2018, Viettel was converted to a group model, officially called Military Industry and Telecoms Group. Viettel's chartered capital is currently approximately VND 141,000 billion. Viettel has invested in 10 foreign markets, spread across three major regions (Africa, Latin America, Southeast Asia) and is considered the pride of Vietnam.
Although telecommunication growth in the world is gradually slowing down, Viettel's investment markets are developing countries with huge room for growth.
On December 28, 2018, the Department of Planning and Investment of Hanoi granted a business registration certificate to Vietnam Beverage Co., Ltd. - an enterprise that had acquired 53.59% of the Saigon Beer-Alcohol-Beverage Corporation (Sabeco) in December 2017. Before this M&A deal, Vietnam Beverage had a charter capital of VND 681.66 billion, 100% owned by F&B Alliance Vietnam Investment Joint Stock Company.
In this capital raising, Beerco Limited - a subsidiary of ThaiBev - contributed VND 11,209 billion to Vietnam Beverage, thereby increasing its capital to VND 111,890 billion. After the capital increase, Vietnam Beverage officially changed from domestic enterprise to foreign enterprise when Beerco's direct ownership ratio is 99.39%.
Although this company has the capital equivalent to nearly USD 5 billion, it is still quite far from the position of the remaining 4 enterprises.
>> Top 10 largest companies in Vietnam 2019
Source: vietnamfinance
