VietNamNet Bridge – The top 10 has seen four new faces, while two companies have got an in-grade promotion.

Gas distributors and rubber exporters, which do not need huge capital to expand production, have been put into the top 10. Three real estate and building material manufacturers have left the 10, giving place to consumer, transport, healthcare and rubber companies.

Vietnam, like other Asian economies, has seen the economic growth slowing down in recent years. It has experienced a very difficult year 2012 with the modest GDP growth rate of 5.03 percent, the lowest rate since 2000.

Thailand, Malaysia and Indonesia have all reported the slowdown in the profits of the top 50 listed businesses, especially the oil and gas firms which make up 34 percent of profit of the Thai top 50’s businesses, and the banks which make up 35 percent of profit of Indonesian top 50.

The turnover and post-tax profit of the Vietnamese top 50 businesses has plunged from over 40 percent in 2010 to 5 percent and 7 percent, respectively, in 2012.

Banking sector: profits drop dramatically

In 2012, the revenue of the businesses listing their shares on the bourses increased by 0.7 percent, but their profits decreased by 9 percent. This has been attributed to the profit sharp fall of 22 percent the banking sector which makes up 27 percent of the total profits.

The slow credit growth rate (9 percent), the 20-year lowest rate, the loss from the gold trade and the high provisioning against credit risks has led to the banking sector’s profits decreasing sharply.

Meanwhile, Thai, Indonesian and Malaysian listed banks, though having seen the profit growth slowing down, still could obtain the growth rates of 25 percent, 21 percent and 11 percent, respectively.

The sharp fall of 96 percent in profit has lodged SHB Bank out from its position in top 50. Meanwhile, The Eximbank’s position has been replaced by Vietcombank as the bank’s post tax profit dropped by 30 percent.

Real estate sector: 4/7 companies left top 50

Real estate firms and building material manufacturers were the ones which suffered most in 2012 from the economic recession, the tightened monetary policy and the government’s public investment cut policy.

The post-tax profit of the construction companies, steel and cement manufacturers dropped by 45 percent in 2012. Meanwhile, only 7 of them have been named in the top 50 instead of 13 as in 2012.

Especially, the big guys--Hoang Anh Gia Lai and Pomina Steel have all been weeded out from the list of the 2013’s 50 most effective businesses, with the profits down by 70 percent and 90 percent, respectively.

Ha Do Group has fallen down from the first position in 2012 to the 26th position in this year’s ranking after its profit decreased by 81 percent. Vincom, another big guy, has been put on the 22nd position with the 3-year turnover growth rate falling from 113 percent last year to 59 percent.

State invested enterprises dominate in top 10

The “state invested enterprises” here are understood as the enterprises where the state holds the controlling stakes.

Nine companies in the 2013’s top 10 are the enterprises where the State holds 35-69 percent of stakes, except JVC, a healthcare equipment joint venture.

The common thing of the enterprises is that they were all set up many years ago. Vinacafe, a coffee corporation, for example, was established in 1975.

NCDT