70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment / News
A newly-established firm in Hanoi posts US$6.3-billion in registered capital
Ngoc Thuy 17:01, 2020/02/26
The company’s registered capital is higher than that of Vietnam’s largest mobile carrier Viettel.

A company named USC Interco was established in Hanoi on January 17 with registered capital of VND144 trillion (US$6.3 billion) with share price of VND100,000 (US$4.32) apiece, local media reported.

 Illustrative photo.

USC Interco’s registered capital is higher than that of Vietnam’s largest mobile carrier Viettel and only behind state-owned Vietnam National Oil and Gas Group (PVN) and Electricity Vietnam (EVN).

Vietnam currently has five enterprises with registered capital over VND100 trillion (US$4.3 billion), including three major state-run corporations of PVN with VND281.5 trillion (US$12.15 billion), EVN with VND194.1 trillion (US$8.38 billion), Viettel with VND141 trillion (US$6.1 billion), and two foreign-invested companies which are Formosa Ha Tinh with VND183.3 trillion (US$7.91 billion), and Vietnam Beverage with VND111.9 trillion (US$4.83 billion).

Located in Hoai Duc district, Hanoi, USC Interco has three shareholders, all are individuals, namely Nguyen Hoan Son with capital contribution of VND57.6 trillion (US$2.48 billion) and also director of the company, Kim Thi Phuong and Tran Gia Phong with VND43.2 trillion (US$1.86 billion) each.

The company registers for operation in 59 lines of business, of which real estate is the core business.

Under the Law on Enterprises, shareholders have 90 days to pay in full their registered share amount.

The law, however, prohibits case of providing untruthful information in the application for business registration or application for adjustments to business registration.

More importantly, companies that declare false registered capital, failure to contribute sufficient registered capital as declared, deliberately determine inaccurate values of contributed assets would subject to fines from the authority.

In last month’s report from the General Statistics Office, the registered capital of the Hanoi-based new enterprise accounted for 53.9% of total registered capital in January and led to a sharp increase in average registered capital of new establishments at VND32.3 billion (US$1.39 million), up 115.3% year-on-year.

RELATED NEWS
TAG: Vietnam Hanoi EVN PVN Viettel newly established enterprises
Other news
15:07, 2024/03/13
Foreign capital set to dominate Vietnam’s M&A landscape
The positive trend of foreign capital in the M&A market this year follows the momentum of 2023, where the top five largest deals involved foreign investors.
19:51, 2024/03/04
Samsung to invest US$1 billion annually in Vietnam
Samsung's R&D center currently employs 2,400 engineers, with Vietnamese engineers playing a crucial role in researching AI features for the new Galaxy S24 phone series.
15:05, 2024/02/29
Thai bank acquires Vietnamese finance company
Thailand's fourth-largest bank has agreed to acquire all the equity of Home Credit Vietnam for US$865 million.
14:08, 2024/01/27
Vietnam appreciates support from int’l friends in nation-building: PM
The goal is to develop Vietnam's economy and become a regional powerhouse in Asia.
15:18, 2024/01/20
Vietnam, Hungary call for stronger economic ties
Leaders from both sides also reaffirmed their commitment to creating a "peace of mind" investment environment for investors.
12:53, 2024/01/13
Vietnam - Indonesia expand cooperation to include green growth, EV ecosystem
Both countries share a vision to become high-income countries by 2045.