Thursday, May 30,2024 - 4:5 GMT+7  Việt Nam EngLish 

DSC Securities (DSC) estimates VND70 billion profit in Q1/2024 

 Thursday, April 4,2024

AsemconnectVietnam - Accumulated in the first 2 months of 2024, DSC Securities Joint Stock Company (DSC - UPCoM) is estimated to reach more than VND54 billion and is estimated to reach about VND70 billion in the first quarter of 2024, a sharp increase compared to VND13 billion in profit in the first quarter of 2023.

This is shared by Mr. Bach Quoc Vinh, General Director of DSC Securities Joint Stock Company (DSC - UPCoM) at the 2024 Annual General Meeting of Shareholders held on March 25.
DSC also said that it is expected that at the end of April and early May 2024, it will officially change the trading floor from the Unlisted Public Stock Exchange (UPCoM) to the Ho Chi Minh City Stock Exchange (HOSE), immediately after approved by HOSE. Mr. Nguyen Duc Anh, Chairman of the Board of Directors of DSC, said that changing the listing floor is a step to maximize the benefits of shareholders.
DSC leaders also revealed that they have found a strategic partner. Instead of looking for foreign partners, DSC chose a strategic partner, a large domestic financial institution, with the expectation that they can understand the Company well and will be a long-term companion, helping the Company develop further in the coming period.
In 2023, DSC will reach VND439 billion in revenue and pre-tax profit of VND150 billion, with total assets at VND4,122 billion. These indicators all recorded strong growth.
Sharing about the business plan for 2024, Mr. Bach Quoc Vinh said that DSC has a quite optimistic perspective and has positive expectations for the market this year.
In 2024, DSC sets operating revenue of VND423 billion, pre-tax profit of VND200 billion, along with orientations and action solutions for each business block.
Assessing the year's plan, Mr. Bach Quoc Vinh said that the above goals are completely achievable based on the context that Vietnam still has a lot of room to attract cash flow into the stock market. DSC Securities always upholds the motto of improving operational efficiency, increasing growth rate, accompanying the development of the market, ensuring harmony of interests of shareholders, partners and investors.
Sharing about business activities, DSC CEO said that the Company will develop balance in all three operations of brokerage, self-trading and consulting. In the brokerage segment, the amount of capital that DSC uses for margin activities is nearly VND2,000 billion, with an average interest rate of 12.5%. The company also sees great room for margin operations, as the stock market still has many prospects. Therefore, the Company can mobilize more capital for this segment of activities. Regarding proprietary trading activities, in November 2023 DSC was approved for VND200 billion for proprietary trading. The result was VND45 billion and half of it was realized in 2023, the remaining half will be added in 2024.
Also at the Shareholders' Meeting, shareholders were concerned about the phenomenon of securities companies possibly having their trading systems attacked by hackers and whether DSC had backups yet. Regarding this issue, DSC leaders shared that, regardless of whether it is a domestic or international securities company, once it grows large enough, it will inevitably attract the attention of speculators. However, looking at it both ways, as business activities develop and expand customer protection also needs attention.
Currently, DSC has completely switched to online, so the company has determined that it may encounter cases of being influenced by individuals and organizations with bad intentions. In addition, the IT department also proposed an information security package of VND7-8 billion to enhance business security, especially the brokerage segment to protect the company and customers.
Source: VITIC/Tinnhanhchungkhoan


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