Agricultural machinery major VEAM earns $50 mln in Q1 profit from joint ventures, associates
Vietnam's leading manufacturer of agricultural machinery VEAM reported profit of VND1.18 trillion ($50 million) from eight joint ventures and associates in the first quarter of this year, down 11% year-on-year and accounting for 85% of its after-tax profit.
VEAM holds a 30% stake at Honda Vietnam, 20% at Toyota Motor Vietnam, and 25% at Ford Vietnam Limited, the leading automobile manufacturers in the country.
VEAM's products are displayed at a fair. Photo courtesy of the company.
The Vietnamese manufacturer, registed on the unlisted public company market UPCoM as VEA, recorded after-tax profit of nearly VND1.37 trillion ($58.5 million) in Q1, down 7% year-on-year.
It earned net revenue of over VND1.01 trillion ($43.07 million) in the quarter, down 11%, according to its financial statement.
VEAM's main business is manufacturing, assembling and trading agricultural machinery and trucks, but most of the corporation's annual profit comes from joint ventures and associates.
As of March 31, 2023, VEAM's assets had stood at VND28.41 trillion ($1.2 billion), up 3% compared to the beginning of the year. Cash and bank deposits were VND15 trillion ($639.7 million), accounting for 53% of total assets, of which term deposits hit VND14.74 trillion ($628.4 million).
On the UPCoM, VEA shares were priced at VND37,000 ($1.58) at Tuesday's close.
- Read More
Growth recorded in Vietnam's manufacturing sector despite severe typhoons, floods
Output, new orders, and employment all continued to rise in November, despite reports of disruption caused by severe typhoons which impacted supply chains and the ability of manufacturers to complete work on time, according to S&P Global.
Economy - Tue, December 2, 2025 | 11:42 am GMT+7
Vietnam's multi-sector group Thaco to sell bananas to Fresh Del Monte under 10-year deal
Truong Hai Group (Thaco), a leading private conglomerate in Vietnam, will supply Fresh Del Monte, a leading global fruit and vegetable producer and distributor based in the U.S., with bananas under a 10-year contract, beginning with 71,500 tons this year.
Companies - Tue, December 2, 2025 | 8:30 am GMT+7
Malaysia’s e-commerce revenue rises sharply
Malaysia’s e-commerce revenue for the first nine months of 2025 totalled MYR937.5 billion ($226.8 billion), up 1.9% compared to the same period in 2024, according to the Department of Statistics Malaysia (DOSM).
Southeast Asia - Mon, December 1, 2025 | 10:31 pm GMT+7
Vietnam’s benchmark VN-Index climbs above 1,700 points
VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), rose past the 1,700-point mark in the first trading session of December, supported mainly by gains in VIC (Vingroup), VPL (Vinpearl), and VHM (Vinhomes).
Finance - Mon, December 1, 2025 | 5:13 pm GMT+7
Samsung Vietnam appoints its first Vietnamese senior executive
Samsung Vietnam has appointed Nguyen Hoang Giang as vice president of Samsung Electronics Vietnam Thai Nguyen (SEVT), marking the first time a local national has been named to such a senior leadership position at a manufacturing unit of the company in Vietnam.
Companies - Mon, December 1, 2025 | 4:30 pm GMT+7
Vietnam to apply Euro 1 emission standards to pre-1999 cars from next March
Vehicles manufactured before 1999 in Vietnam must meet Level 1 emissions standards (equivalent to Euro 1) from March 1, 2026, according to a new government decision.
Economy - Mon, December 1, 2025 | 2:55 pm GMT+7
Aeon breaks ground on $38 mln shopping mall in Vietnam's Mekong Delta province Dong Thap
Japanese-invested Aeon Vietnam on Saturday broke ground for a VND1 trillion ($37.95 million) shopping mall project in the Mekong Delta province of Dong Thap, southern Vietnam.
Industries - Mon, December 1, 2025 | 1:46 pm GMT+7
EV makers in Vietnam likely to be exempted from battery collection, recycling requirements
Manufacturers of electric vehicle batteries in Vietnam are likely to be exempted from collection and recycling responsibilities, as producers currently do not have battery waste to recycle.
Economy - Mon, December 1, 2025 | 10:14 am GMT+7
Confidence in a new cycle for Vietnam’s stock market
Financial expert Huynh Hoang Phuong believes that Vietnam’s market status upgrade from "frontier" to "second emerging", set to be effective from September 2026, will provide an important foundation for the stock market to enter a new development cycle - one filled with many opportunities but also challenges.
Finance - Mon, December 1, 2025 | 6:59 am GMT+7
Malaysia leads Southeast Asia’s digital economic growth
Malaysia is now the fastest-growing digital economy in Southeast Asia with a year-on-year increase of 19%, and on track to reach $39 billion in gross merchandise value (GMV) this year, according to the 10th edition of the e-Conomy SEA Report 2025.
Southeast Asia - Sun, November 30, 2025 | 4:19 pm GMT+7
'K-pop Father' Lee Soo-man to build $99 mln entertainment-tourism complex in central Vietnam
South Korean producer Lee Soo-man, known as the “Father of K-pop,” plans to invest nearly VND2.6 trillion ($98.62 million) in a cultural, sports, recreation, commercial and tourism complex in Gia Lai province through Blooming Sky Co., Ltd.
Real Estate - Sun, November 30, 2025 | 12:09 pm GMT+7
Thailand’s WHA seeks special mechanisms for two industrial zone projects in central Vietnam
WHA Industrial Zone Nghe An, a unit of WHA Group - Thailand's leader in fully-integrated logistics and industrial facilities solution - has submitted a proposal to Nghe An province authorities seeking to have its projects included in the list of those eligible for special mechanisms.
Industrial real estate - Sun, November 30, 2025 | 10:07 am GMT+7
Steelmaker Nam Kim to explore tin-nickel coated steel production for EV battery shells
Nam Kim Steel JSC (HoSE: NKG), a leading coated‑steel manufacturer in Vietnam, plans to research production of tin‑coated steel for the packaging industry, and tin‑nickel coated steel for electric‑vehicle battery shells, serving both domestic and export markets.
Companies - Sun, November 30, 2025 | 8:00 am GMT+7
Cutting logistics costs to global average could save $45 bln a year for Vietnam: PM
Prime Minister Pham Minh Chinh said Vietnam could save $45 billion annually if it lowers logistics costs by around 16% to match the global average.
Economy - Sat, November 29, 2025 | 6:48 pm GMT+7
Coca-Cola Beverages Vietnam loses lawsuit against local tax authority
The Ho Chi Minh City People's Court on Thursday dismissed a lawsuit filed by Coca-Cola Beverages Vietnam against the Ministry of Finance's Department of Taxation, thereby upholding the department's decision to collect back taxes and impose a fine of over VND821 billion ($31.14 million) in total.
Finance - Sat, November 29, 2025 | 2:27 pm GMT+7
Honda Vietnam rejects information Honda Mobilityland plans 600-ha tourism, entertainment, sports complex in southern Vietnam
Honda Vietnam on Friday rejected the information that Honda Mobilityland Corporation, a subsidiary of Japan’s Honda Motor Co., plans to build an international circuit in Tay Ninh province, towards developing a 600-hectare tourism, entertainment, and sports complex there.
Industries - Sat, November 29, 2025 | 10:23 am GMT+7
