Investor Relationship

FIDES (VIETNAM) Market Statistics 26/6 – 30/6/2023

FIDES (VIETNAM) Market Statistics 26/6 – 30/6/2023

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)
HSX-0.81%811.79697.26(14.45)
VN30-0.32%247.35278.22(7.92)
HNX-1.82%94.4169.426.81
Upcom0.34%61.2134.01(0.45)

Source: Fiinpro

Sector Performance (HOSE + HNX, %)

Source: Fiinpro

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

Source: Fiinpro

News

Economy- Society

Macro 6 months 2023

  • GDP Q2/2023 and 1H2023 increases by 4.14% and 3.72% yoy, respectively, mainly attributed to the robust growth of the service sector. Except for the Covid period in 2020, this is the lowest GDP growth yoy witnessed since 2011.
  • : The Consumer Price Index (CPI) in Jun 2023 increases by 2% yoy and 0.27% mom. On average, in 1H2023, the CPI increased by 3.29% yoy and core inflation increased by 4.74% yoy.
  • : In Jun 2023, export of $29.3 bn (-10.79% yoy) and import of $26.71 bn (-17.13% yoy) resulted in a trade surplus of $2.59 bn. 1H2023, export of $164.45 bn (-11.6% yoy) and import of $152.2 bn (-17.86% yoy) resulted in a trade surplus of $12.25 bn.
  • : In Jun 2023, retail sales ($21.52 bn) increased by 6.5% yoy, driven by retail sales of goods (+6% yoy), accommodation, food & beverage (+6.5% yoy) and tourism services (+7.8% yoy). 1H2023, retail sales ($128.37 bn) increased by 10.9% yoy. (Source: GSO)
  • FDI: 1H2023, total registered foreign direct investment (FDI) reached $13.43 bn (-4.3% yoy). In which: newly registered capital reached $6.49 bn (+31.3% yoy), additionally registered capital reached $2.93 bn (-57.1% yoy) and share contribution and acquisition reached $4.01 bn (+76.8% yoy). Singapore is the largest investor with a total investment of $3 bn (accounting for 22.3% total registered capital), followed by Japan (16.4%, $2.21 bn) and China (14.5%, $1.95 bn). FDI disbursement increased by 0.5% yoy to $10.02 bn. (Source: Ministry of Planning & Investment).

Vietnam FDI 2023

  • Sunrise Material (Singapore) plans to invest $100 mn in Nam Dinh province to build a high-tech film production factory for detailed packaging of products of industry, specializing in US market. The factory can begin production after 15 months of construction and achieve annual export revenues of around $500 mn.
  • LG Innotek (Korea), a major camera module supplier for Apple iPhones, will invest an additional $1 bn in Hai Phong city, doubling its investment in the northern coastal city to $2.05 bn. With the additional investment, LG Innotek will build a new plant for manufacturing and export of camera modules. The plant is scheduled to complete construction in the second half of 2024 with a target of commercial operations in 2025.
  • Far Eastern Polytex (Taiwan) will invest an additional $250 mn in Binh Duong province in Q3/2023, raising its total investment to $1.62 bn. Far Eastern will expand its production line of super-strong fiber applied in the production of seat belts, airbags, and tire inner liners.

VAT policy

  • The National Assembly approved VAT tax reduction by 2%, starting from 1 Jul 2023 to 31 Dec 2023.
  • VAT will be reduced from 10% to 8% for all services and goods except: telecommunication, IT, Finance, Banks, Stocks, Insurances, Real Estates, Metal and Metal goods, mining products, refined petroleum, chemical products and items subject to special consumption tax.

Company- Sectors

Banking sector

  • On 29 Jun 2023, most banks list deposit rate lower than 8% for 12M term.
  • Specifically, mid & small private banks list deposit rate at 7.5-7.8%/year while large private banks list at 7-7.2%/year. SoCBs list at 6.3%/year.
  • It is expected that lending rate will fall shortly and there will be more preferential loan packages to stimulate the economy.
  • As of 20 Jun 2023, credit growth of 3.13% ytd and deposit growth of 3.26% ytd.

Energy sector

  • On 29 Jun 2023, PVN (PetroVietnam) received the ownership of the O Mon III & IV power plants from EVN (Vietnam Electricity Corporation). O Mon III & IV power plants have a capacity of 1050 MW/plant, located in Can Tho city.
  • O Mon III and IV power plant projects are components in the Block B gas-electricity project chain. The project chain is expected to be launched in 2023 to meet the schedule of having the first gas flow at the end of 2026.

Electricity sector

  • Vietnam will start building a new 500 kV power transmission line in 2025. This project will facilitate the electricity transmission from the southern and central regions to the northern, ensuring stable power supply for the northern region.
  • The 500 kV power transmission project is important as it will offload the two existing 500 kV lines and ensuring power security for northern Vietnam in the coming years.
  • Covering a length of nearly 317 kilometers, the power lines will pass through provinces in the central region, including Quang Binh, Nghe An and Thanh Hoa.
  • The project is scheduled to be completed within 50 months from the completion of the feasibility report, assuming no complications arising from site clearance and compensation.

Automobile sector

  • The Government approved the 50% reduction in domestically assembled and manufactured cars registration fees, effective from 1 Jul 2023 to 31 Dec 2023.
  • Thaco is on a deal to issue 10% stake of Thaco Auto to strategic shareholder via private placement and intend to have Thaco Auto listed on the stock market in 3 upcoming years. Thaco Auto specializes in manufacturing, assembling, distributing and retailing KIA, Mazda, Peugeot, BMW cars… with nearly 400 retail showrooms across the country and a production complex with 7 factories located in Chu Lai industrial zone. (Đa Nang)

Stock market

  • On 23 Jun 2023, SSC announced to receive a notice decision to prosecute the criminal case stock manipulation occurred at APS, API, IDJ, all of which relate to Apec Group.
  • On 24 Jun 2023, all 3 abovementioned companies disclosed information regarding the investigation and denied any involvement in the stock manipulation and announced to operate normally in the coming time.

MWG (Mobile World Investment Corporation)

  •  In May 2023, revenue of $437.85 mn (-9.8% yoy, +4.5% mom), of which $323.17 mn comes from The Gioi Di Dong and Dien May Xanh (-14% yoy, +4% mom). According to MWG, the purchasing power of ICT retail still shows no signal of recovery, higher sales results from promotion and the robust increase by 100% in sales of air-conditioners.
  • 5M2023, revenue of $2 bn (-21% yoy, completing 35% target year). Bach Hoa Xanh shows a positive signal with revenue May 2023 and 5M2023 of $102.05mn (+4.35% mom) and $467.75mn (+6% yoy), respectively.
  • Arisaig Asia Fund Ltd (Singapore) sold more than 668,000 MWG shares on 21 Jun 2023, decreasing its ownership from 6% to 5.96% (87,181,488 shares).

MIG (Military Insurance Company)

  • 5M2023, direct written premium of $87.04 mn (-4% yoy, completing 34% target year) and PBT of $5.92 mn (+49% yoy, completing 40% target year). MIG expects that 1H2023 direct written revenues will be $104.18 mn (-4% yoy) and PBT of $6.8 mn (+49.7% yoy), implicating Q2 direct written revenues of $52.43 mn (-7.5% yoy) and PBT of $3.19 mn (+240% yoy). (Source: MIG)

PVT (Petrovietnam Transportation Corporation)

  • 1H2023 estimated: $185.53 mn (+20.7% yoy, completed % target year) and PAT of $20.76 mn (+8% yoy, completing % target year). (Source: PVT)
  • On 19 Jun 2023, PVTrans Pacific (PVT’s 65%-stake subsidiary) received a 15-year-old oil product/chemical tanker named the Pacific Era with capacity of 50,057 DWT. Currently, PVT’s total capacity for oil product/chemical tanker is 348,800 DWT, implying that the Pacific Era
    accounts for 14% of this amount. (Source: PVT)

HBC (Hoa Binh Construction Group JSC)

  • HBC announced adjusted 2023 target: revenue of $532 mn (+67% to previous plan) and PAT of $5.32 mn (+25% to previous plan). Total 2023 bidding value is estimated at $723.4 mn (+7% yoy).
  • HBC plans to issue 274 million private shares for strategic investors at 12,000VND/share (+30% to market price), total value of $140 mn. Besides, HBC plans to issue shares to suppliers with a value of $44.7 mn. As of 23 Jun 2023, 89 suppliers and subcontractors agreed to offset debt by shares with a value of $27.7 mn, which means HBC will convert an additional $17 mn debt into shares. (Source: HBC)

CEO (C.E.O Group Joint Stock Company)

  • CEO wants to offer 257.34 million public shares, increasing its capital from $109.5 mn to $219 mn. Of which:
  • ESOP issuance of 5.14 mn shares (equivalent to 2% OS).
  • Issuance to existing shareholders of 252.19 mn shares, the ratio is 100:98, at 10,000 VND/share.
  • Proceeds of $109.5 mn will be invested in Sonasea Residences project, raising ownership in subsidiaries and supplementing working capital. (Source: CEO)

TIG (Thang Long Investment Group JSC)

  • TIG has approved the transfer of all 9.9 million shares owned in HDE Holdings JSC, equivalent to 27.5%, at the price of 15,000 VND/share. The expected implementation time is Q2/2023. (Source: TIG)

NVL (No Va Land Investment Group Corporation)

  • NVL succeeded in agreement to extend the payment of 2 bond lots NVLB2123012 and VLH2123010 with the total value of $97.9 mn.
    • NVLB2123012: extend the maturity for 2 years to 20 Jul 2025. The new fixed interest rate is 11.5%/year.
    • NVLH2123010: extend the maturity for 21 months to 17 Mar 2025. The new fixed interest rate is 11.5%/year. (Source: NVL)
  • The securities company forced to sell 1.65 mn NVL shares of NovaGroup from 21 Jun to 28 Jun 2023, decreasing its ownership to 27.565% (537,544,639 shares). (Source: HSX)

VJC (Vietjet Aviation Joint Stock Company)

  • VJC has successfully issued 3,000 bond lots VJCH2328003 worth $12.8 mn. Bond-term: 5 years. Fixed rate: 12%/year. VJC has totally issued $38.3 mn of bonds since the beginning of Jun 2023. These bonds accounted for 45% of VJC’s issuance plan announced in 2023 AGM.
  • HDB (Ho Chi Minh City Development Joint Stock Commercial Bank) registered to sell 8 mn VJC shares via order matching/put through from 28 Jun to 25 Jul 2023, decreasing their ownership from 4.95% to 3.47% (18,809,020 shares). (Source: HSX)

AAA (An Phat Bioplastics JSC)

  • An Phat Holdings JSC sold 10 mn AAA shares on 27 Jun 2023, decreasing its ownership from 52.79% to 50.17% (191,787,394 shares). (Source: HSX)

DHC (Dong Hai Joint Stock Company of Bentre)

  • Mr. Nguyen Thanh Nghia (BoD) registered to buy 1 mn DHC shares via order matching/put through from 30 Jun to 28 Jul 2023, increasing his ownership from 12.18% to 13.42% (10,804,119 shares).
  • Previously, Mr. Nghia bought 981,000 DHC shares out of 2 mn shares registered from 29 May to 23 Jun 2023. (Source: HSX)

POM (Pomina Steel Corporation)

  •  Ms. Truong GEG Do Cam Huong (related person to Chairman) registered to sell all 1.8 mn shares (0.65% OS) via order matching/put through from 30 Jun to 28 Jul 2023. (Source: HSX)

TNG (TNG Investment and Trading JSC)

  • Mr. Nguyen Mạnh Linh (BoD) registered to sell 1.2 mn TNG shares via order matching/put through from 3 Jul to 1 Aug 2023, decreasing his ownership from 4.64% to 3.5% (3,678,312 shares). (Source: HNX)

GEX (GELEX Group JSC)

  • Dragon Capital bought 2 mn GEX shares on 26 Jun 2023, increasing their ownership from 4.86% to 5.1% (43,394,868 shares).
  • Previously, on May 2023, GEX Investment Ltd. sold all of more than 33 mn GEX shares (3.91% OS) to restructure the investment portfolio (Source: HSX)