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Steel giants report huge losses in Q4

Steel giants report huge losses in Q4

A drop in prices and consumption put major steel businesses Hoa Phat, Nam Kim and VNSteel in the red in the fourth quarter of 2022, dragging their annual results to the lowest level in many years.
Steel billionaire's wealth plummets 62.5%: casualty of bear market

Steel billionaire's wealth plummets 62.5%: casualty of bear market

The net worth of steelmaker Hoa Phat Group chairman Tran Dinh Long has plunged 62.5% in the last six months, making him the seventh richest Vietnamese person, down from second.
November 4, 2022 | 09:14 pm PT
Steelmaker Hoa Phat in the red after 13 years

Steelmaker Hoa Phat in the red after 13 years

Leading steelmaker Hoa Phat made a loss of VND1.79 trillion ($73 million) in the third quarter, its first quarterly loss in 13 years.
October 28, 2022 | 07:44 pm PT
Vietnamese billionaires say no to salaries

Vietnamese billionaires say no to salaries

Being chairmen of giant corporations with revenues exceeding billions of dollars, some Vietnamese billionaires chose to draw zero salaries.
September 4, 2022 | 05:32 am PT
Steel prices 20% lower than in May after falling again

Steel prices 20% lower than in May after falling again

Steel prices have dropped for a 14th time in a row since mid-May with the total decline adding up to nearly 20%.
August 22, 2022 | 07:40 pm PT
Hoa Phat profit plunges 60 pct

Hoa Phat profit plunges 60 pct

Steel giant Hoa Phat Group saw its post-tax profit plunging nearly 60 percent year-on-year to VND4 trillion ($171.27 million) in the second quarter due to declining prices amid falling demand.
July 26, 2022 | 05:13 pm PT
Hoa Phat market cap halves in last 9 months

Hoa Phat market cap halves in last 9 months

Steel giant Hoa Phat Group has lost VND130 trillion (US$5.6 billion) from its market capitalization since last October due to a bearish market, rising costs and falling demand in China.
June 21, 2022 | 10:51 pm PT
Vietnam’s 7 richest people lose $2 bln amid stock market plunge

Vietnam’s 7 richest people lose $2 bln amid stock market plunge

The total net worth of Vietnam’s billionaires has fallen by 10 percent since the last Forbes’ update in March to $19.3 billion due to a plunging stock market.
May 20, 2022 | 12:24 am PT
Hoa Phat posts 17 pct profit growth in Q1

Hoa Phat posts 17 pct profit growth in Q1

Steel giant Hoa Phat reported post-tax profits of VND8.2 trillion ($357.1 million), up 17 percent from the same period last year.
April 29, 2022 | 06:30 pm PT
Wealth of Vietnam's richest rose during pandemic

Wealth of Vietnam's richest rose during pandemic

Most Vietnamese in the 2022 Forbes global billionaires list saw their wealth increase amid the Covid-19 pandemic last year.
April 8, 2022 | 05:00 pm PT
Contractors fret as Vietnam steel prices scale new peak

Contractors fret as Vietnam steel prices scale new peak

With domestic steel prices up nearly 8 percent in 10 days, contractors are caught in a dilemma: continue work and suffer losses or suspend work and suffer fines.
March 13, 2022 | 06:12 pm PT
Hoa Phat to start selling containers this year

Hoa Phat to start selling containers this year

Steelmaker Hoa Phat Group will start selling containers in the final quarter of this year.
March 5, 2022 | 12:30 am PT
Steel exports surge 130 pct as global demand shoots up

Steel exports surge 130 pct as global demand shoots up

Steel exports rose by nearly 130 percent in the first 11 months of this year to US$10.8 billion, according to the Vietnam Steel Association.
December 4, 2021 | 09:00 pm PT
Hoa Phat bounces back after three months of falling sales

Hoa Phat bounces back after three months of falling sales

Hoa Phat sold 600,000 tons of finished steel products in July, which represented a strong year-on-year increase after three straight months of declines.
August 9, 2021 | 07:53 pm PT
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