FIDES (VIETNAM) Market Statistics 15/01 – 19/01/2024

FIDES (VIETNAM) Market Statistics 15/01 – 19/01/2024

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)
HSX2.32%608.86583.7723.72
VN301.85%227.77255.1439.78
HNX-0.36%64.0147.26(1.57)
Upcom0.64%41.8923.97(3.73)

Source: Fiinpro 

Sector Performance (HOSE + HNX, %)

Source: Fiinpro 

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

Source: Fiinpro 

News

Economy – Society

Macro

  • On 17/01/2024, China National Bureau of Statistic announced the 2023 GDP growth of 5.2% despite many challenges (exceeded the Government’s target of 5%). (Source: China)

Interest rate

  • VCB announced to cut deposit rate by 20bps for terms under 12M and 10bps for 12M terms and above. The 12M deposit rate of VCB is 4.7% p.a. (Source: Vietcombank)
  • Agribank cut the deposit rate by 20bps for terms 1M-3M, 40bps for terms 3M-6M and 30bps for terms 6M-12M. Deposit rate for terms from 12M and above is kept unchanged at 5%. (Source: Agribank)

FDI

  • KP Aero Space Vietnam, under South Korea’s KP Aero Industries, a supplier of components for Boeing and Airbus aircraft of Korean Air carrier, will invest $20mn in Danang Hi-Tech Park.
  • KP Aero Space Vietnam received in-principle approval just a month after submitting the application and is expected to receive the investment certificate in early 2024. The firm also expects to soon establish cooperation with businesses in Danang Hi-Tech Park to establish an aviation component supply chain. (Source: Danang People’s Committee)
  • Goertek (Hong Kong) Co., a subsidiary of China Goertek Electronics Group, plans to establish a subsidiary in Bac Ninh province with an investment of $280mn to produce headphones, smart watches and VR & AR electronics products…. (Source: Goertek)

Company – Sectors

Real estate

  • On 15/01/2024, the National Assembly (NA) held a 5th extraordinary session to consider passing the Land Law (amended) and the Law on Credit Institutions (amended). The session lasted for 2.5 days, from 15/01/2024 to 17/01/2024. The meeting took a one-day off on 17/01/2024 for the NA, the Government and relevant agencies to receive, revise and complete draft laws and draft resolutions.
  • On 18/01/2024, the NA has passed the Land Law (amended) and the Law on Credit Institutions (amended). Notable changes in the law included: 1/ Land price frame, 2/ Land price determination method, 3/ Land price approval deadline, 4/ Land recovery to implement commercial housing projects, 5/ Land allocation, land leasing, and change of land use purposes, 6/ Self-negotiation mechanism between LUR holders and developers in commercial housing projects. (Source: National Assembly)

Banking sector

  • The SBV proposed a Draft amendment to Circular 16/2021 regulating the purchase corporate bonds of credit institutions. Key changes:
  • Credit institutions purchase of C-bond shall be made in non-cash payments to track the use of proceeds.
  • Credit institutions are allowed to repurchase the unlisted/have not registered for trading corporate bonds with the same bond lot that the credit institutions had sold within 12 months. In fact, this regulation has been applied from 24/04/2023 to 31/12/2023 in the Circular 03/2023/TT-NHNN.
  • The purchase of corporate bonds between the “0-dong” bank and the receiving bank should be approved by the authorities. (Source: SBV)

Healthcare

  • FV Hospital is officially a member of Thomson Medical Group (Singapore) after the two sides completed an acquisition deal on 17/01/2024 worth more than $366.7mn. This is considered the biggest M&A deal in the history of Vietnam’s healthcare industry. (Source: Thomson Medical Group)

Construction sector

  • Newtecons estimated to achieve FY23 total revenue of $489.3mn (+4.5% yoy and exceeded 12% year plan).
  • Ricons is estimated to reach FY23 total revenue of $306.4mn.
  • Leaders commented that 2024 will continue to be a year with common difficulties in the construction and real estate market. (Source: Newtecons)

Auto sector

  • Dec-2023 witnessed a significant increase in the number of car sales by 39% mom to 37,740 units (+11% yoy), bringing the total number of car sales in 2023 to 301,989 units (-25% yoy). The increase in car sales at end 2023 is attributable to the fact that the registration fee reduction expired on Dec-2023, pushing the purchase decision of car buyers; many brands such as Honda, Mercedes, Hino, … also launched promotion to push sales.  The low interest rate environment is also a factor that pushes sales in Dec. (Source: VAMA)

Aviation sector

  • The Civil Aviation Authority of Vietnam (CAAV) has reported that, compared to the previous week, airlines have added 472 additional flights with more than 92,150 seats on routes between Hanoi and HCMC to destinations with high reservation rates during Lunar New Year 2024. However, due to the substantial travel demand, tickets on many domestic flights have nearly sold out.
  • As of 12/01/2024, airlines have sold 80-100% of available tickets on flights between HCMC, Hanoi, and other localities during the Lunar New Year period, from 24/01/2024 to 25/02/2024. (Source: CAAV)

FPT (FPT Corporation)

  • FPT announced FY23 revenue of $2.7bn (+19.6% yoy and completed 101% target) and NPAT-MI of $261.6mn (+21.8% yoy). The robust revenues of FPT mostly attributed to the growth of the technology segment of $1.2bn (+52.5% yoy), followed by the telecom segment of $639.1mn (+7.3% yoy) while education and other segments contributed $216.9mn (+22.1% yoy).  The robust global IT segment was driven by the robust growth from Japan (+43.4%) and APAC (+37.7%), fueled by high demand for IT spending in these markets, especially spending for Digital Transformation services. Revenue from Digital Transformation reached $426.7mn (+42% yoy), focusing on new technologies such as Cloud, AI/Data Analytics,…
  • FPT set the a long-term goal for its global strategy with a revenue target of $5bn in IT services by 2030. Business conditions in 2024 is expected to be tougher than 2023. FPT intends to focus on key areas such as AI, semiconductors, automobiles, and participates in government and ministerial projects. The goal is to reach $1bn for the automotive sector by 2030. (Source: FPT)

TCB (Vietnam Technological and Commercial Joint Stock Bank)

  • TCB announced the seeking of investors’ opinion to approve for the plan of restructuring financial institutions as per requirements of the SBV, implying that TCB will receive a 0-dong bank, which is likely to be SCB. Before Van Thinh Phat scandal, SCB has the largest total asset in comparison to other banks. (Source: TCB)

MSN (Masan Group Corporation)

  • Masan Group has invested in the project of an eco-tourism resort and Krong Pha mineral water factory of more than 10 hectares in Ninh Thuan province. MSN is currently completing procedures and renovating the ecological area of this project. The project will be into commercial operation in 2024. (Source: MSN)

VSC (Vietnam Container Shipping JSC)

  • VSC and HanExpress Vietnam (Vietnam branch of HanExpress Korea) have signed a contract to establish a joint venture operating in the field of logistics. The joint venture will focus on warehousing and logistics, starting to exploit the HCMC market then expanded to the southern and northern provinces. The joint venture mainly provides services to FDI enterprises, including large Korean manufacturers. (Source: VSC)

VJC (Vietjet Aviation JSC)

  • 17/01/2024, Vietjet Air and leading global travel service provider Trip.com Group signed a MOU to leverage the expertise and resources of both parties to make travel easier and more convenient for travelers around the world. (Source: VJC)

HAG (Hoang Anh Gia Lai JSC)           

  • HAG announced a BOD’s resolution, approving an adjustment to the plan to sell 130 million private shares at VND10,000/share.
  • List of investors after adjustment includes: LPBank Securities (50 million shares, ownership increase to 4.73% OS), Thaigroup (52 million shares, ownership increase to 4.92% OS), and Le Minh Tam (28 million shares, ownership increase to 2.65% OS). (Source: HAG)

ASM (Sao Mai Group Corporation)

  • Pyn Elite Fund bought 3.75 million ASM shares on 15/01/2024, increasing its ownership from 13.13 million shares (3.9% OS) to 16.88 million shares (5.02% OS) and became a blockholder of Sao Mai Group.
  • Recently, Hau Giang People’s Committee issued a document to abolish the policy for Sao Mai Group to approach, research, survey and prepare an investment proposal for a wind power plant combined with a solar power plant in Long My district. (Source: ASM)

MWG (Mobile World Investment Corporation)

  • Throughout 2023, the Mobile World system sold up to 1mn Xiaomi smartphones (+10% yoy). The Gioi Di Dong and Xiaomi Vietnam have signed a cooperation agreement with the goal of selling 1.2mn devices (+20%yoy) in 2024.
  • Bach Hoa Xanh Investment, MWG’s subsidiary, will place a private placement of 5-10% of shares in the 1H2024, with the purpose of serving the general business needs of BHX Investment and its subsidiaries. BHX Investment, said that with positive results and cash flow in 2023, the company does not have the need to mobilize capital up to a maximum of 20% as originally planned. (Source: MWG)

HND (Hai Phong Thermal Power JSC)

  • HND announced 4Q23 revenue of $106.9mn (+17% yoy) and Net loss of $4.7mn (compared to a loss of $1.3mn in 4Q22).
  • FY23 total revenue of $467mn (+8.8% yoy) and NPAT of $17mn (-23.6% yoy, completed 69.6% year plan).
  • HND shared that the drop in business result was due to the major repair work of generator unit No. 1, which was completed and accepted into use in Dec-2023, so the repair costs of $10.9mn were recorded in Dec-2023. (Source: HND)

VSH (Vinh Son – Song Hinh Hydropower JSC)

  • The Board of Directors approved a short-term loan contract of $33mn with REE to finance VSH to pay off loans at ACB and HDB. VSH said it will reimburse REE in Jan-2024. (Source: VSH)

LAS (Lam Thao Fertilizers And Chemicals JSC)

  • FY23 sales revenue reached $145 mn (completed 110% year’s plan, +9%yoy). NPAT reached $6.1mn (+58.4% yoy). (Source: LAS)

VNM (Viet Nam Dairy Products JSC)

  • SCIC Investment Ltd., (SIC) bought 300,000 shares out of 500,000 shares registered via order matching from 15/12/2023 to 12/01/2024. Post transactions, SIC holds 300,000 shares (0.014% OS). (Source: HSX)

HBC (Hoa Binh Construction Group JSC)

  • On 17/01/2024, HoSE decided to move HBC from restricted list to controlled trading list from 19/01/2024. Accordingly, HBC will be trade full-time from 19/01/2024. (Source: HSX)