(SECURITIES INVESTMENT) The FIT’s General Director said the Company has been completing procedures, being expected to complete transferring stock exchange in the next 2 months.
Over 5 first months of the year, F.I.T Investment JSC (share sticker: FIT) has accomplished many significant objectives for 2015. In the next period, Mrs. Nguyen Thi Minh Nguyet, General Director of F.I.T said the Company would continue to fully implement contents the AGM adopted earlier this year, in which the plan for transferring FIT shares from HNX to HOSE is also being implemented urgently by the leadership.
Nearly a half of year has passed. Could you tell us the completion level of the Company’s objectives in 2015?
Although only 5 months of 2015 have passed, including a relatively long New Year holiday, however, we are very proud because of accomplishing numerous major objectives of this year which shareholders have entrusted.
Firstly, in the Q1/2015, consolidated profit after tax of the Company reached over VND 112 billion, completing nearly 50% of the year’s planned profit. This is factor helping F.I.T leadership to be confident and complete exceeding the year’s profit plan.
Secondly, it is the plan for owning a pharmaceutical enterprise. Recently, F.I.T has increased the ownership level at Cuu Long Pharmaceutical Joint Stock Corporation (Share sticker: DCL) to 60% of the chartered capital. The good point is the Company has accomplished this issue within the context F.I.T has not collected proceeds from capital raising issuance and the transactions happened in gloomy market. These help F.I.T decrease costs compared to costs planned initially.
Thirdly, it is completing the capital increase in the 1st phase to nearly VND 1,800 billion. F.I.T has raised capital successfully in the context of unfavourable market, showing the trustworthy of shareholders in the future of F.I.T, also helping the Company take advantage of the current market conditions for the investment plan, business expansions and enterprise acquisitions.
Obtaining the trustworthy of shareholders, of course, we are also under much higher pressure. I myself also wonder: how to sustain the business more firmly and effectively, worthy of the trust of shareholders and new level of F.I.T?
Finally, the leadership of companies in the system continues to boost restructuring and improve business quality and efficiency. Recently, the subsidiaries and the affiliated companies have made a significant movement in terms of business performance. And I believe that in the near future, shareholders will see the changes of that performance through impressive figures on business results.
That is business performance, how about other aspects? In the recent Annual General Meeting of Shareholders, F.I.T has approved the plan of transferring listed share from HNX to HOSE. Which stage the company has implemented this, madam?
Criteria for the operation of F.I.T are commitment and commitment implementation, meaning what we have promised shareholders, we attempt to implement and finish them or even finish them better than commitment. In the case of listing, stock exchange transferring are also the same.
Presently, we are in the stage of completing procedures to transfer listing share from Hanoi Stock Exchange to Ho Chi Minh Stock Exchange. I hope the Company can accomplish this plan and list our share on HOSE in the August.
FIT share currently is one of the “stars” of liquidity on HNX. If transferring to HOSE, might it lose its stature, madam?
I think the most important is the intrinsic attractiveness of that share. The investors who knew and participated to invest in F.I.T would continue to invest in the Company whether we are on HNX or HOSE. Meanwhile, the plan of transferring listed on HOSE has few “plus” points for the shareholders and the development of F.I.T in the future.
The first is the liquidity of FIT share. With current liquidity and capitalization of the Company, I think that it is not difficult for FIT share to reach shares portfolio of ETFs. This is what investors predicted if FIT share is transferred to HOSE.
The second is the goal which the Company aims to, that is foreign strategic partners. The truth is though enterprises listed on HNX have good quality; nevertheless, the attention of foreign investors to enterprises on HOSE is better.
Presently, in our operation sector, F.I.T still has partners who are foreign institutions, however, we still direct to enhance scale, quality of operations, image, and prestige in order to identify and select foreign strategic partners appropriate to our expectations.
Could you please share with shareholders about operating plans of F.I.T in the second half of this year?
We still comply on principles is to closely follow activities of F.I.T strategies in restructuring and long-term development as well as short term business indicators.
With the business result of the 1st Quarter and 5 begin-months of this year of the whole system, accomplishing target of profitability is within reach of the Company.
We are implementing the acquisitions of at least 2 more enterprises for the system to implement key investment strategies into basic commodities companies: agricultural materials, victuals, pharmaceuticals … besides maximize short term investments and bond trading opportunities. Regarding the plans transferring stock exchange, as I said above, it is expected to be completed within next 2 months.
