Brokerage profits receive boost from affiliates
HCM CITY (VNS)— Saigon Securities Inc (SSI) posted a net profit of VND464.3 billion (US$22.1 million) last year, six times higher than in 2011, in which profits from associated companies contributed more than VND106 billion ($5 million).
As of December 31, SSI had nine associated companies, including two new firms in 2012 – Electronics Communications Technology Investment Development Corp (ELC) and Transforwarding Warehousing Co (TMS) – in which SSI was holding 20 per cent. — VNS