Private wealth at a record high Especially the super-rich get richer

Status: 10.06.2021 8:34 a.m.

Never before have people worldwide amassed so much private wealth as in the Corona year 2020. The wealth of Germans alone climbed – thanks to savings and real estate – to almost 20 trillion dollars. 20,000,000,000,000 dollars – this is the impressive sum of private wealth that private households in Germany had at their disposal in 2020. This emerges from the new “Global Wealth Report” by the Boston Consulting Group (BCG).

Better real estate than stocks

The Germans were helped by their much-cited propensity to save: financial assets, including cash, account balances, stocks, pensions and life insurance, grew by around six percent to around nine trillion dollars, according to the information. Investors in Germany saved above average, emphasized Anna Zakrzewski, BCG partner and author of the study. “Traditionally, Germans prefer to invest in real estate rather than in securities, as the real value quota of almost 60 percent clearly shows,” says the BCG expert. In the crisis year 2020, the real assets of Germans, i.e. real estate, jewelry, art and gold, increased by five percent to 13 trillion dollars. After deducting debts, private households in Germany had a total of just under $ 20 trillion.

Rising stock market prices, growing savings

The developments in Germany are a reflection of a global trend: people around the globe accumulated more wealth than ever in the year of the Corona crisis. Private financial assets rose year-on-year by a good eight percent to a record $ 250 trillion. Rising stock exchange prices and growing savings contributed to this. The BCG experts were surprised, as they expected a year ago that private assets would melt as a result of the corona pandemic. For the first time in 2020, the BCG experts will also consider property such as real estate or gold. Total assets minus debt was $ 431 trillion.

2900 super-rich in Germany

However, wealth is unevenly distributed. Above all, the club of the rich and super-rich grew strongly. The super rich – these are people with a net worth of more than $ 100 million. In the crisis year 2020, 6000 more people were accepted into the club of the super-rich, the number of members grew to 60,000. According to the BCG, these 60,000 people own 15 percent of the world’s investable wealth. In Germany alone there are 2,900 super-rich. This puts the Federal Republic of Germany in third place in the global ranking. The USA is at the top, followed by China.

Getting richer?

Against the background of the expected economic recovery after the Corona crisis, BCG expects steady growth in global private wealth for the coming years. By 2025, it should grow by an average of just under five percent annually to $ 544 trillion. Global inequalities are likely to increase further: According to the BCG forecast, people in North America, Asia excluding Japan and Western Europe in particular will get richer.

The market is full of mangoes, but there are few buyers At noon on 24/5, at many traditional markets in such as Ho Hoc Lam, An Duong Vuong (Binh Tan District), Ho Trong Quy (District 6), Hoa Binh (District 5)… all kinds of acacia mango, Thai mango, Hoa Loc sand mango… are displayed at the stalls. Offering to buy mango, Mrs. Lam (small trader in the market next to Cho Lon Bus Station, District 5) said: “Mango is in season, so the price is almost half as cheap as last year. Like Hoa Loc sand mango, only 25,000-30,000 VND/kg; Acacia mango 10,000 VND/kg… There were days when many mangoes arrived, so they were not sold in time, so the basket was full, we had to reduce the price to push the goods.” “Buying a bag of mangoes with more than 2kg but the price is only 20,000 VND, cheaper than vegetables” – Ms. Trang (living in Tan Binh District) said and added that in recent days, she has bought a lot of mangoes for dessert summer vitamin C booster. When small traders “discharge” ripe mangoes, she also buys some (buying) to make mango jam, dried mango, mango rice paper… to save for later. Ms. Thu, a trader who buys mangoes in Long An, said that because mangoes in the southern provinces were in the harvest season, they were hit by an epidemic, so they dumped the goods. Accordingly, the price of acacia mango is reduced to 4,000-5,000 VND/kg, Cat Chu mango is 9,000-10,000 VND/kg, Hoa Loc sand worm is only 15,000-17,000 VND/kg. At many supermarkets, grade 1 mangoes on the shelves are also very cheap. As at Bach Hoa Xanh, the price of acacia mango is 15,000 VND/kg, the other types are slightly better but do not exceed 25,000 VND/kg. Meanwhile, Co.op Food supermarket sells first grade Hoa Loc mangoes for 45,000 VND/kg, reducing the price to only 35,9000 VND/kg… However, in stores selling clean fruit, mango is still at a high level. At a fruit shop next to Vuon Chuoi market (District 3), mangoes cost up to 80,000 VND/kg; or a “3 clean” shop on Hai Ba Trung Street (District 1), Hoa Loc mangoes cost nearly 100,000 VND/kg. According to the shop owner, this is an organic mango grown for export, so it has a high price. A representative of the Thu Duc agricultural wholesale market said that from the beginning of May until now, the total amount of mangoes imported to the market is 4,285 tons; average 194.77 tons/night. Mangoes are displayed on the sidewalk of Hoa Binh market (District 5) for only 10,000-15,000 VND/kg On the side of Cho Lon bus station (District 5, District 6) grade 1 mangoes are sold at wholesale market prices, but there are few buyers. Hoa Loc sand mango bag, price is only from 30,000 VND/kg. The small trader said that mangoes have never been so cheap as now. The fruit stalls in all markets in Ho Chi Minh City have no shortage of mango products, and customers who buy a lot also get a discount. Due to being in the harvest tool right away during the epidemic, many localities distanced themselves; while exports also face difficulties, leading to lower mango consumption. At the supermarket, Hoa Loc sand mango grade 1 is also on promotion, the price is only 35,600 VND/kg

Fans give a lot of praise to the design because it fits well with the MV context and thinks that this is the best dress ever worn by Rosé in the MV. The dress with beautiful 3D structure, rainbow-colored feathers on the body made a strong impression on the market price. This outfit was performed by “lingerie angel” Elsa Hosk for the vedette position of the collection. The dress is priced at 26,000 USD (more than 600 million VND). Elsa Hosk Supermodel Thanh Hang is the first Vietnamese star to wear this dress. Possessing long legs and luxurious charisma, Thanh Hang shines in a brilliant dress. Thanh Hang Chau Bui also chose this outfit in an event, but the effect is not the same as a senior because of her modest height. Although she chose extremely high Gucci shoes to fit the dress, she was still not appreciated. Chau Bui

Accordingly, in order to restructure the investment portfolio, Intact Management Co., LTD registered to sell more than 4.62 million TCD shares, equivalent to the ownership ratio of 5.62% of capital. If the transaction is successful, this organization will reduce its ownership in TCD to 0%. Trading is done by matching and / or agreement method, expected time from April 28 to May 27, 2021. On the market, TCD shares were quite bleak when closing this morning on April 23 at the floor price of 13,050 dong / share, down 6.8%. If temporarily calculated at this market price, Intact Management Co., LTD will earn about VND 60.3 billion from the divestment at TCD. On April 29, Tracodi will hold its 2021 annual shareholder meeting to approve this year’s business plan with 2021 consolidated revenue target of 3,203 billion, an increase of 12.3% compared to 2020 and profit after tax. 280 billion, up strongly by 91.3%. In addition, TCD also plans to pay dividends in 2020 at 11% and 2021 at 14%. In which, the Company estimates consolidated revenue is expected in the first quarter of 2021 to reach more than 817 billion, up 69% over the same period. Profit before tax is estimated at 73.99 billion, 3.7 times higher than the same period in 2020. Accordingly, TCD has completed 25.5% of the revenue plan and 21.6% of the expected profit plan in 2021. .

AAA said that at the end of the first quarter of 2021, the recorded revenue reached 2,280 billion dong, up 45.04% over the same period last year, equivalent to an increase of 708 billion dong. Profit after tax in the first quarter of 2021 reached VND 89 billion, an increase of 41.27% over the same period last year, equivalent to an increase of VND 26 billion.

Regarding the business plan for the second quarter of 2021, AAA’s Board of Directors has approved the target of total consolidated revenue of VND 2,500 billion, consolidated profit after tax of VND 120 billion, up 138.05% and 162.16% respectively. compared with the same period last year.

AAA shares have grown strongly since the beginning of the year. Specifically, AAA shares currently increase by more than 20% compared to the market price at the beginning of the year on 4/1/2021 (14,550 VND / share).

In 2021, SBSI Securities Company forecasts that AAA’s revenue will reach VND 8,895 billion, an increase of 19.7%; AAA’s after-tax profit reached VND 621 billion, 2.2 times higher than that of 2020. In which, the profit dropping point came from 3 segments: industrial real estate, packaging and self-produced products. biodegradation continues to increase.

Specifically, the real estate segment rebounded thanks to the remaining area revenue of An Phat Complex Industrial Park and the new project An Phat 1 Industrial Park started commercial exploitation from the third quarter of this year. In addition, the production of packaging continues to increase thanks to the optimization of equipment productivity and the contribution from Jumbo bags of An Vinh Plastic and Packaging Company.

SSI Securities Company has also had a positive assessment report related to AAA. According to SSI, AAA has positive growth prospects in both the packaging segment and industrial real estate. In particular, the industrial park is expected to be the biggest profit growth driver this year, with gross profit estimated at VND 205 billion (up 118% year on year) in 2021.

AAA plans to lease the remaining 10% to An Phat Complex Industrial Park in 2021. In addition, An Phat 1 Industrial Park is in the process of site clearance, scheduled for commercial exploitation by the end of 2021 and will generate about VND 200 billion in revenue and VND 50 billion in profit this year.

On the other hand, SSI estimated that the output of plastic packaging could increase by 9.2% over the same period, reaching 112 thousand tons. Conventional packaging output may increase at a more stable rate of 3% with recovery in worldwide demand. Consumption of industrial packaging is also expected to more than double to 9 thousand tons from 3.5 thousand tons in 2020, due to the contribution of subsidiary An Vinh in the whole year 2021.

In addition, the profit margin of thin film packaging could also be improved due to the greater profit from self-destructing products, which is expected to account for 20% of total packaging sales in 2021, compared to with the rate of 10% in 2020.

AAA stock is recommended to buy with a positive prospect.