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FIDES (VIETNAM) Market Statistics 10/7 – 14/7/2023

FIDES (VIETNAM) Market Statistics 10/7 – 14/7/2023

Market Summary
ChangeTrading VolumeTrading ValueForeign net buy/sell
(%)Average daily trading volume (mil.shares)Average daily trading value (mil.USD)Net trading value (mil.USD)
HSX2.67%859.37769.41(42.27)
VN302.76%258.97310.77(14.23)
HNX1.94%113.3776.491.92
Upcom1.93%105.5669.23(2.01)

Source: Fiinpro

Sector Performance (HOSE + HNX, %)

Source: Fiinpro

Foreign Top buy/sell (HOSE + HNX, mil.USD)

Source: Fiinpro

News

Economy- Society

Macro

  • Under the National Master Plan for 2021-2030 with a vision to 2050:
    • Vietnam strives to reach a GDP growth rate of approximately 7%/year during the 2021-30 period. By 2030, GDP per capita is expected to be around 7,500 USD.
    • Economic structure: services (>50%), industry (>40%), agriculture – forestry – fisheries (<10%).
    • Urbanization rate: > 50%

Vietnam’s GDP 2023

  • Standard Chartered lowered Vietnam’s 2023 GDP growth forecast to 5.4% from the previous 6.5%. Inflation is forecasted to decrease to 2.8% from 4.3% previously.
  • HSBC also reduced the growth forecast for 2023 to 5.0% from the previous of 5.2% due to mounting broad-based challenges.

Vietnam Trade Balance in 1H2023

  • According to Vietnam Customs, in Jun 2023, total exports of $29.45 bn (-10.33% yoy) and imports of $26.36 bn (-18.21% yoy) resulted in a trade surplus of $3.09 bn.
  • Accumulated from the beginning of the year: exports of $164.68 bn (-11.48% yoy) and imports of $151.84 bn (-18.05% yoy) resulted in a trade surplus of $12.84 bn. (Source: Custom)

Remittances

  • 1H2023, remittances to Ho Chi Minh City were $4.4 bn (+39.24% yoy). Remittances to HCMC have been on the increase in the last 5 years and accounting for a larger proportion of country remittances. In 2022, remittance to HCMC accounted for 55.03% total country remittance

Company- Sectors

Banking sector

  • As of 30 Jun 2023, total credit reached, equivalent to the growth of 4.73% ytd. The SBV completed the allocation of credit quota to banks with the total quota to the banking sector of 14%.
  • The Government has just issued Resolution 97 requiring the SBV to cut the lending rate by further 1.5-2%.

Brokerage market share 1H2023

  • The HNX announces the securities brokerage market share of 5 leading securities companies in Q2/2023 as follows: VPS (25.77%), VNDS (9.26%), SSI (8%), TCBS (5.87%), MBS (4.84%).
  • In 1H2023, the securities brokerage market share of 5 leading securities companies: VPS (21.16%), VNDS (10%), SSI (6.89%), TCBS (4.96%), MBS (4.8%). 
  • On the Upcom, top 5 leading securities companies in 1H2023: VPS (25.23%), VNDS (7.63%), SSI (7.06%), TCBS (4.96%), DSC (4.76%). (Source: HNX)

Brokerage

  • There were 145,856 retail accounts opened in Jun 2023 (-68.7% yoy and +39.4% mom) and the highest in 9 months. As of the end of Jun 2023, local trading accounts/population reached 7.2%.
(Source: VSD)

Automobile sector

  • Vietnam vehicles sales in Jun 2023 reached 23,800 units (+15% mom, -5.4% yoy). Of which, domestically assembled cars accounted for 15,488 units (+28% mom) and imported cars made up 8,312 units (-4% mom). Sales of passenger cars and commercial vehicles increased by 20% mom and 4% mom respectively, while sales of special-purpose vehicles decreased by 17% mom.
  • 1H2023, total vehicles sales reached 137,327 units (-31.9% yoy). Of which, domestically assembled cars accounted for 77,584 units (-37% yoy) and imported cars made up 59,743 units (-25% yoy). Sales of passenger cars, commercial vehicles and special-purpose vehicles decreased by 37% yoy, 11% yoy and 65% yoy respectively. (Source: VAMA)

Healthcare

  • Thomson Medical Group_TMG (Singapore) has agreed to acquire Vietnam’s FV Hospital for up to $381.4 mn. This is the biggest-ever healthcare acquisition deal in Vietnam.
  • TMG will acquire 100% of Far East Medical Vietnam Limited (FV Group), the operator of FV Hospital and a network of primary and specialist clinics.
  • FV Hospital was founded by a group of French physicians in 2003. It provides care across over 30 medical specialities including oncology, cardiology, ophthalmology, orthopedics, maternity, and gastroenterology. FV had close to 200 operating beds as of 31 Dec 2022.

Seafood sector

  • Deputy Prime Minister Le Minh Khai signed Document No. 639/TTg-KTTH on removing difficulties for seafood enterprises:
    • Related government agencies consider reducing the contribution of seafood companies in various fields: tax, credit, unemployment insurance fund….
    • The SBV considers adjusting loan interest rate and having a credit package of $425.53 mn to support enterprises in the forestry and fishery production and processing industries.

QNS (Quang Ngai Sugar JSC)

  • Preliminary Q2/2023: PBT of $33.74 mn (+124% qoq and +84% yoy).
  • 1H2023 PBT of $49.23 mn (+80% yoy). Of which:
    • Sugar segment: revenue reached $93.6 mn (+150% yoy) with huge spiked in volume at 123,000 tonnes (+130% y/y) and PBT reached $20 mn (+490% yoy).
    • Soy milk: revenue of $85.1 mn (-7% yoy) and PBT of $18.3 mn (+6% yoy). (Source: QNS)

FPT (FPT Corporation)

  • 1H2023: revenue of $1.03 bn (+21.9% yoy) and PBT of $184.6 mn (+19.3% yoy), of which:
    • Technology segment: revenue of $604.3 mn (+25.1% yoy) and PBT of $85.3 (+26.3% yoy). Of which: Global IT services contributed $477.7 mn revenues (+30.2% yoy) and $78 mn PBT (+34.6% yoy) thanks to the strong demand in the Japan market (+39.1% yoy) and APAC (+42.5% yoy). Signed revenue (new order volume) of the Global IT Services segment reached $639 mn (+28.6% yoy).
    • Telecom segment: revenue of $326.9 mn (+8.6% yoy) and PBT of $64.4 mn (+4.8% yoy).
    • The education & other segments remained robust, with revenue growth of 63.5% yoy and PBT growth of 35.8% yoy. (Source: FPT)

CTR (Viettel Construction Joint Stock Corporation)

  • 1H2023: revenue of $215.46 mn (+20% yoy, completed 49% target year) and PBT of $12.29 mn (+20% yoy, completed 47.1% target year)
  • Revenue growth was led by robust results of construction ($64.68 mn, +46.44% yoy, accounting for 30% revenue), Telecom infrastructure operation ($112.72 mn, +12.34% yoy, accounting for 52% revenue), telecom infrastructure leasing ($8.64 mn, +43.97% yoy, accounting for 4% revenue). Revenue from the integrated solutions segment increased by 1.41% (accounting for 12% revenue).
  • CTR owns 4,929 tower stations and the tenancy rate remains at 1.03 at the end of Jun 2023.
  • CTR started the construction of Ivory Villas & Resort project (Hoa Binh province), invested by Viet My Group. CTR will implement the bidding package to build the rough part and complete the exterior of 55 villas in phases 3 – 4 with a total value of more than 3.5 million USD. (Source: CTR)

POW (PetroVietnam Power Corporation)

  • In 1H2023, total production volumes of 8.31 bn kWh (completed 53% target year) and total revenues of $705 mn (+14% yoy, completed 55% target year). (Source: POW)

GAS (PetroVietnam Gas Joint Stock Corporation)

  • The People’s Committee of Binh Thuan province approved the investment in the Son My LNG terminal warehouse project in Binh Thuan Province (South-Central region of Vietnam). With a total investment of $1.34 bn, this is one of the largest LNG terminal warehouse projects in Vietnam at present.
  • The project, implemented by a joint venture of GAS (61%) and US-based AES Corporation (39%), is expected to be put into operation in 2027, including 3 phases: phase 1 (total capacity of 3.6 mn tons/year), phase 2 (total capacity of 6 mn tons/year), phase 3 (total capacity of 10 mn tons/year).
  • Son My LNG terminal aims to supply gas to Son My 1 & 2 gas-fueled power plants (total capacity of 4,500 MW).

VHM (Vinhomes JSC)

  • Hai Phong People’s Committee has approved VHM as the investor of the New Urban Area Project (241ha) in Duong Kinh and Kien Thuy with a total investment of nearly $1 bn. In terms of capital, investors’ contributed capital accounts for 15% total investment ($147.3 mn) and mobilized capital accounts for 85% total investment ($834.6 mn). Implementation period: 50 years.
  • Green City Development JSC (VHM’s subsidiary) registered to develop Hau Nghia – Duc Hoa new urban area project (Long An province). In which, including villas, townhouses, apartment buildings, resettlement land, social housing… The project covers 197.2ha with a total investment of $1,2 bn. The operation term is 50 years and implementation progress takes 6 years.

HVN (Vietnam Airlines JSC)

  • HVN plans to auction three A321CEO aircraft (A350, A351, A352), with the starting price of $5 mn each. This is part of HVN’s plan to restructure its fleet, increase income and improve cash flow. The auction is expected to be held in Q3/2023. (Source: HVN)

VCI (Vietcap Securities Joint Stock Company)

  • VCI received a syndicated loan worth $45 mn, arranged by the Shanghai Commercial and Savings Bank, Ltd. via Offshore banking branch. (Source: VCI)

VPB (Vietnam Prosperity Joint Stock Commercial Bank)

  • VPB is asking for a shareholders’ written opinion on the use of $1.5 bn received from the private placement of 15% post-money private issuance to SMBC. VPB expects that they can receive the full proceeds at end Jul – early Aug 2023. (Source: VPB)

BAF (BAF Viet Nam Agriculture JSC)

  • BAF successfully issued bonds (non-convertible, unwarranted, unsecured) with a total value of $12.7 mn. Bond-term: 36 months. Fixed rate: 10.5%/year. (Source: BAF)

BMI (Bao Minh Insurance Corporation)

  •  BMI approved the stock dividend (2022) payment with ratio 10%. Expected time: Q3/2023. (Source: HSX)

SSI (SSI Securities Corporation)

  • Mr. Nguyen Hong Nam (CEO) registered to sell 4 mn SSI shares via put through from 12 Jul to 10 Aug 2023, decreasing his ownership from 0.376% to 0.109% (1,639,498 shares). Buyer: Saigon Dan Linh Real Estate (related to Mr. Nam). (Source: HSX)

TCM (Thanh Cong Textile Garment Investment Trading JSC)

  • Savimex Corporation (related to BoD member) bought 2.46 mn TCM shares via put through on 6 Jul 2023. Post transactions, it holds 2.46 mn shares (3% OS). (Source: HSX)

KDC (KIDO Group Corporation)

  • VinaCapital sold 4.82 mn KDC shares from 7 Jul to 10 Jul 2023, decreasing their ownership from 8.6% to 6.72% (17,302,411 shares).

MWG (Mobile World Investment Corporation)

  • Arisaig Partners (Asia) Pte Ltd. sold 2,263,700 MWG shares on 7 Jul 2023, decreasing their ownership from 7.09% to 6.93% (101,360,884 shares). (Source: HSX)