Vincom Retail targets $199 mln profit in 2023
Vietnam's top shopping mall operator Vincom Retail is targeting net revenue of VND10.35 trillion ($440.13 million) in 2023, up 41% year-on-year, and post-tax profit of VND4.68 trillion ($199 million), up 69%.

Vincom Plaza Hung Vuong in Can Tho city, southern Vietnam. Photo courtesy of the company.
The company's business plan is based on the management's expectation that the outlook for the economy as well as the business environment this year will improve from 2022, according to documents to be submitted at its annual general meeting of shareholders on April 26.
In the scenario that economic development drivers and the business environment are better than expected, the company's board of directors has set a net revenue target and after-tax profit plan of VND11.5 trillion ($489.04 million) and VND5.2 trillion ($221.13 million), up 56% and 87% year-on-year, respectively.
In addition, the subsidiary of Vietnam’s biggest private conglomerate Vingroup, listed on the Ho Chi Minh Stock Exchange as VRE, will also submit plans at the meeting on how to use its accumulated after-tax profit from 2022.
According to KPMG audited data, VRE's accumulated undistributed post-tax profit as of December 31, 2022 was VND12.07 trillion ($513.06 million) which the board of directors will recommend be used for production and business activities.
The last time the company paid a dividend was in 2018 when the payment per share was VND1,050 (4.5 U.S. cents) plus bonus shares at a rate of 1,000: 225.
This year, Vincom Retail plans to open two new shopping centers, including Vincom Mega Mall Grand Park in Ho Chi Minh City and Vincom Plaza Ha Giang in the northern mountainous province of Ha Giang, with a total retail floor area of 55,000 m2, bringing the total number of commercial centers to 85 in 45 out of the 63 provinces and cities nationwide.
VRE posted net revenue of VND7.31 trillion ($310.8 million) and after-tax profit of VND2.74 trillion ($116.3 million) in 2022, up 24% and 108% year-on-year, according to its consolidated financial report.
At Tuesday's close, VRE share price hit VND28,500 ($1.21).
- Read More
Thailand slashes growth forecast amidst US tariffs
Thailand has lowered its economic growth forecast this year due to trade disruptions stemming from U.S. President Donald Trump's tariff policies.
Southeast Asia - Tue, May 20, 2025 | 9:07 am GMT+7
PV Gas subsidiary feeds LNG to Korean chaebol HS Hyosung in central Vietnam
CNG Vietnam JSC (PV Gas CNG), a subsidiary of PV Gas, has officially commenced the initial phase of liquefied natural gas (LNG) delivery to HS Hyosung Quang Nam under South Korean chaebol HS Hyosung in central Vietnam.
Companies - Tue, May 20, 2025 | 9:04 am GMT+7
Vietnam's leading developer Novaland plans share issuance for debt conversion
Novaland, a major real estate developer in Vietnam, plans to issue additional shares to convert debt into shares for some major shareholders who have lent the company in times of financial woes.
Companies - Tue, May 20, 2025 | 8:57 am GMT+7
ASEAN plans to set up monetary fund
The Association of Southeast Asian Nations (ASEAN) is taking steps to revive the idea of creating its own monetary fund, Malaysian Prime Minister Anwar Ibrahim has said.
Southeast Asia - Mon, May 19, 2025 | 9:57 pm GMT+7
Malaysia’s automotive industry undergoes major transformation with renewable energy policies
New policies promoting renewable energy in Malaysia are sparking significant growth and reshaping the landscape of the country’s automotive industry towards sustainability and innovation.
Southeast Asia - Mon, May 19, 2025 | 9:54 pm GMT+7
Lifting Vietnam's coffee deep processing rate to 40-45% key to sustainable grower benefits: exec
Raising the deep processing rate of coffee to 40-45% is essential to ensure sustainable benefits for Vietnamese growers, says Nguyen Tien Dung, deputy general director of Simexco Dak Lak Ltd, one of the country's leading coffee exporters.
Economy - Mon, May 19, 2025 | 7:21 pm GMT+7
GSM launches Xanh SM platform, officially distributes VinFast VF 3, VF 5 electric vehicles in Laos
Green and Smart Mobility Joint Stock Company (GSM), the operator of Xanh SM - Southeast Asia’s first all-electric ride-hailing service - has officially launched the Xanh SM Platform in Laos.
Companies - Mon, May 19, 2025 | 4:47 pm GMT+7
Sunshine Group partners with Sunset Hospitality Group to bring YAMA brand culinary to luxury project in Hanoi
Sunshine Group has officially signed a strategic partnership with Sunset Hospitality Group (SHG) to operate the YAMA brand - a unique poolside restaurant complex in the Hanoi-based Noble Crystal Tay Ho WorldHotels Residence project.
Companies - Mon, May 19, 2025 | 4:41 pm GMT+7
HCMC authorities to work with The Trump Organization on tower project
A delegation from The Trump Organization is set to work with Ho Chi Minh City's leaders on plans to build a skyscraper in the Thu Thiem New Urban Area.
Real Estate - Mon, May 19, 2025 | 3:32 pm GMT+7
New Politburo resolution like 'downpour after a drought' for Vietnam's private sector: entrepreneur
Resolution 68 of the Politburo, Vietnam's highest decision-making body, will be a driving force of the breakthrough development of the private sector, said Vu Van Tien, chairman of conglomerate Geleximco.
Economy - Mon, May 19, 2025 | 2:45 pm GMT+7
Work starts on 5km Tu Lien bridge across northern Vietnam's Red River
Construction of Hanoi's Tu Lien bridge, which will be 5.15 kilometers long across the Red River, commenced on Monday.
Infrastructure - Mon, May 19, 2025 | 2:11 pm GMT+7
New State Bank of Vietnam circular removes obstacles for stock market status upgrade
A new State Bank of Vietnam (SBV) circular will address bottlenecks in managing indirect investment capital flows and create favorable conditions for foreign investors, contributing to achieving a status upgrade for the country's stock market.
Finance - Mon, May 19, 2025 | 11:20 am GMT+7
IPPG eyes 8,000-hectare free trade zone project near Long Thanh Airport in southern Vietnam
Vietnam's Imex Pan Pacific Group (IPPG), led by chairman Johnathan Hanh Nguyen, is exploring a 8,000-hectare free trade zone project near Long Thanh International Airport in the southern province of Dong Nai.
Companies - Mon, May 19, 2025 | 8:49 am GMT+7
Exporters diversify orders to reduce reliance on single market
Facing the risks posed by trade barriers and potential reciprocal tariffs from the U.S., many Vietnamese businesses have proactively shifted their market strategies, stepped up trade promotion, and diversified their orders to reduce reliance on a single market.
Companies - Sun, May 18, 2025 | 7:55 pm GMT+7
Satellite cities seen as a solution to Hanoi's urban expansion
As Hanoi faces mounting population pressure and land scarcity, satellite cities are emerging as a solution for urban expansion and long-term real estate investment, said experts and industry insiders.
Real Estate - Sun, May 18, 2025 | 7:45 pm GMT+7
Vietnam launches first Napas-Mastercard co-badged card
The National Payment Corporation of Vietnam (Napas) and Mastercard has launched the country's first co-badged card, combining domestic and international payment capabilities.
Companies - Sun, May 18, 2025 | 6:59 pm GMT+7