underwriting deal ever happened in the development history of VNDIRECT of over VND 10,000 billion The corporate bonds of Trung Nam Group were divided into four bonds with competitive coupon interest r.
underwriting deal ever happened in the development history of VNDIRECT of over VND 10,000 billion The corporate bonds of Trung Nam Group were divided into four bonds with competitive coupon interest rate, starting at 9.5%/year This successful business in 2021 has firmly concreted VNDIRECT’s position of being one of the trustworthy financial intermediaries in the Vietnamese market 2.2.1.Proprietary Investment: It is notable that besides from the obvious result of brokerage and underwriting services, investment activities, including Proprietary Investment, is one of the notable cases of VNDIRECT in 2021 The portfolio of VNDIRECT consisted of mainly certificates of deposit, unlisted bonds, stocks, and listed fund certificates, ensuring a safe and sustainable value growth By holding onto PTI stock with the highest proportion in its investment portfolio, the company were able to realize a significantly high jump in PTI’s fair value to VND 932,518,364,000 while the beginning cost was only VND 458,356,484,000 Gain from financial assets at fair value through profit and loss (FVTPL) recognized a 219% increase to more than VND 2,477 billion On the other hand, loss from financial assets at FVTPL increased from VND 289,832,961,897 to VND 1,092,324,105,853 (a 277% increase), meaning the overall efficiency control of investing activities of VNDIRECT was not extremely effective since the losses grew higher than the gains The profit realized from the proprietary investment activities might be explained due to the good conditions of the market, especially at the last half of 2021 However, the percentage of revenue contributing to the overall revenue of this segment was only an insignificant 5%, showing that the inefficiency can be overlooked