Multi-sector firm REE spends $31 mln buying VIB shares
Refrigeration Electrical Engineering (REE) invested in 38.8 million VIB shares of Vietnam's leading private bank VIB in the fourth quarter of 2022, with the closing balance of more than VND738 billion ($31.47 million).
This is the firm's largest securities investment, accounting for more than 93.4% of REE's total portfolio value.

REE achieved after-tax profit of $149.8 million in 2022. Photo courtesy of the company.
In Q4, the multi-sector corporation's net revenue reached VND3,070 billion ($130.9 million), up 62% year-on-year.
The refrigeration-mechanical segment saw a 2.3-fold increase year-on-year hitting VND1,160 billion ($49.47 million), accounting for nearly 38% of REE's revenue.
The electricity-water infrastructure segment grew by 43% to VND1,647 billion ($70.24 million), accounting for 53.6%, while the real estate sector reached VND263 billion ($11.21 million), up 5%.
REE's after-tax profit hit VND968 billion ($41.28 million) in the period, increasing by 5%.
In 2022, REE recorded a net revenue of VND9,372 billion ($399.7 million), up 61% year-on-year, exceeding its target by 1%. The company achieved after-tax profit of VND3,513 billion ($149.8 million), up 64%, exceeding the target by 70% and scoring a record high in the company's 23-year listing history.
As of December 31, 2022, REE's total assets reached more than VND33,928 billion ($1.45 billion), up 6% compared to the beginning of the year. Of this, cash and cash equivalents were more than VND1,100 billion ($46.91 million), deposits to maturity was VND960 billion ($40.94 million), and short-term receivables hit VND4,013 billion ($171 million).
REE's liabilities decreased by 5% to VND14,716 billion ($627.6 million). Equity increased 17% to VND19,211 billion ($819.3 million), of which undistributed after-tax profit was VND10,706 billion ($456.6 million).
On the Ho Chi Minh Stock Exchange, the REE share price hit VND74,800 ($3.19) at the closing morning session on Wednesday.
In September, Platinum Victory Pte. Ltd Fund, the largest shareholder in REE Corp, registered to buy 6,025,714 shares to increase its ownership rate.
In REE's shareholder structure, Platinum Victory Pte. Ptd is currently the largest investor, followed by board chairwoman Nguyen Thi Mai Thanh with a 12.20% stake.
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