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FIDES(VIETNAM) Market Statistics 19/12 – 23/12/2022

FIDES (VIETNAM) Market Statistics 19/12 – 23/12/2022

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-3.05%802.35588.4951.50
VN30-2.81%234.69223.8231.98
HNX-3.61%89.8052.595.05
Upcom-1.63%42.4424.02(1.57)

Source: Fiinpro

Sector Performance (HOSE + HNX, %)

Source: Fiinpro

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

Source: Fiinpro

News

Economy- Society

HSBC revises up Viet Nam’s GDP growth forecast to 8.1% in 2022

  • HSBC raises its 2022 growth forecast for Vietnam from 7.6% to 8.1%
  • Challenges is likely to be more acute next year, particularly when the post-lockdown re-opening effect fades and lagging impact of high inflation starts to kick in. Therefore, HSBC expects a more moderate growth figure of 5.8% for Vietnam in 2023 compared to the previous forecast of 6%.

Public investment

  • According to the Ministry of Planning and Investment, public investment budget 2023 is over $29.8 bn (+25% compared to 2022).
  • Besides, the Ministry of Planning and Investment reported estimated State budget disbursement on investment at end 30 Nov 2022 is $1.63 bn, reaching 58.33% plan assigned by the Prime Minister. Although the disbursement rate is lower than that in 2021 and some recent years, disbursement value has reached a new high in 2022.
  • The Deputy Minister also required detailed allocation of 2023 public investment budget by projects to be urgently completed before 31 Dec 2022 to make disbursement right from beginning of 2023.

Company- Sectors

Insurance sector

  • As of 12 Dec 2022, insurance premium has reached $10.1 bn (+15.09% yoy), of which life and non-life insurance contributed $7.4 bn (+15% yoy) and $2.7 bn (+15.33% yoy), respectively.
  • Total claims and benefits payouts have reached $2.6 bn (+23.29% yoy), equivalent to a claim ratio of 25.47% (+1.5% compared to 2021).
  • MoF (The Ministry of Finance) expects that the insurance sector can still maintain a solid growth of 15% in 2023.

Aviation Sector

  • Civil Aviation Authority of Vietnam (CAAV) estimated: Vietnam has welcomed over 54.2 million air passengers in 2022, increased by 3.7x yoy and decreased by 30.4% compared to 2019. The figure included 11 million international passengers (+22.x yoy and -73% compared to 2019), and 43.2 million domestic passengers (+3.5x yoy and +15.6% compared to 2019). Cargo transport volume is estimated to reach 1.2 million tonnes (-5% yoy).

Steel sector

  • In Nov 2022, Vietnam’s steel production reached 1.83 million tons (-36.8% yoy and -10.78% mom), while steel consumption reached 1.94 million tons (-16.2% yoy and +2.87% mom).  
  • 11M2022: steel production reached 27.12 million tons (-11.3% yoy) and steel consumption reached 25.1 million tons (-6.8% yoy).
  • Regarding exports, Vietnam exported 6.99 million tons of steel in the first 10 months of 2022, decreased by 37% yoy. The biggest export markets were ASEAN, accounting for 42.22% total volumes, the EU (16.92%), the U.S. (7.71%), Korea (5.9%), and Hong Kong (5.67%). (Source: Vietnam Steel Association – VSA)

HPG (Hoa Phat Group JSC)

  • HPG has signed a contract to export 10,000 tons of coiled steel to Europe. This is the first order of long steel products to be exported to this region, opening up a new and potential market for Hoa Phat steel products.
  • 11M2022, HPG exported 1.1 million tons of construction steel (including high-quality bar and coil steel) to many different countries such as Japan, Korea, Malaysia, Singapore, Hong Kong, USA, Canada, Australia…

BSR (Binh Son Refining and Petrochemical Company Limited)

  • BSR estimated 2022: revenue of $7.04 bn (63.7% yoy, exceeding target year by 81%) and PAT of $518 mn (+82% yoy, 9.4 times higher than target 2022). (Source: BSR)

PNJ (Phu Nhuan Jewelry JSC)

  • In Nov 2022, revenues of $107.62 mn (+16.8% yoy) and PAT of $6.47 mn (+8.4% yoy).  
  • 11M2022, revenue of $1.32 bn (+85.4% yoy, completed 120.2% target year) and PAT of $69.74 mn (+96.1% yoy, completed 124.2% target year). Retail revenue (accounting for 60.7% total revenue) increased by 92.3% yoy, wholesales revenue (12.2% total revenue) increased by 71.6% yoy and gold bar revenue (25.6% total revenue) increased by 84.8% yoy.
  • At end-Nov 2022, PNJ had 341 gold stores, 7 standalone silver stores, 3 CAO Fine stores (PNJ’s luxury jewelry brand), 5 Style by PNJ stores, 3 PNJ Watch store and 3 PNJ Art stores. (Source: PNJ)

ACV (Airports Corporation of VietNam)

  • ACV canceled the bidding package for Long Thanh International Airport’s passenger terminal because no bid met the necessary requirements. The $1.5 billion package includes the design, construction, and equipment installation for the terminal in Dong Nai province.
  • ACV will re-organize bidding for this package, and the process would take an additional 45 days.

FRT (FPT Digital Retail JSC)

  • FRT signed an MoU with Pharma Foods International (Japan) and Sato Connect Gate for the investment in a healthcare food factory in Huu Thanh Industrial Park in Long An Province.
  • The first products are expected to be launched in 2024 and distributed through FPT Long Chau pharmacy chain nationwide.

KDC (KIDO Group)

  • KDC plans to sell all 22.5 million treasury shares to a foreign strategic partner. Immediately after that, KDC will buy back 10 million shares to reduce the corresponding charter capital.
  • KDC will pay special cash dividend at the rate of 50%.
  • KDC will divest from TTV Investment-Trading JSC, operating the Chuk Chunk F&B chain, with charter capital of $4.25 mn (KDC hold 61% stakes). Main products of Chuk Chuk, launched in June 2021, are ice cream, tea, and coffee. (Source: KDC)

NLG (Nam Long Investment Corp.)

  • NLG has successfully issued 500 bonds with total value of $21.28 mn, term of 7 years, interest rate of 12.94%/year to International Finance Corp (IFC). (Source: NLG)

SSI (SSI Securities Corp.)

  • SSI plans to issue 10 million ESOP shares at 10,000 VND/share. Expected time: Q4/2022 to 2023
  • Lock up: the first 50% can be transferred after 2 years and the other 50% can be transferred after 3 years since the issuance date. (Source: SSI)

TCB (Vietnam Technological and Commercial Joint Stock Bank)

  • TCB approved the purchase of 105 million shares privately placed by TCBS (Techcom Securities JSC) at a price of 95,600VND/share. Total investment is around $427 mn. (Source: TCB)

LPB (Lien Viet Post Joint Stock Commercial Bank)

  • LPB announced to call 1,100 bonds valued $46.8mn, issued in 2017.
  • Previously, LPB has redeemed $417mn bond in the past 11 months. (Source: LPB)

HAX (Hang Xanh Motors Service JSC)

  • HAX approved to ask for a 6-month credit line with Vietcombank valued $17mn to support working capital.
  • Previously, HAX canceled the issuance plan of 48.9 million shares to existing shareholders at 12,000VND/share, equivalent to a proceed of $25 mn, of which $17mn will be used to buy the inventory of Mercedes-Benz. (Source: HAX)

PTB (Phu Tai JSC)

  • PTB approved the plan to buy back 6.5 million treasury shares (9.55% OS). Expected time will be in the first half of 2023.
  • After successfully buying treasury shares, PTB will decrease its charter capital by $2.8 bn. (Source: PTB)

NTP (Tien Phong Plastic JSC)

  • Southern Tien Phong Plastic JSC (related to Chairman) registered to buy 1.5 million NTP shares via order matching or put through from 20 Dec 2022 to 17 Jan 2023, increasing its ownership from 6.68% to 6.87% (8,905,968 shares). (Source: NTP)

GEX (GELEX Group JSC)

  • GEX Investment JSC (related to Chairman) sold 80 million GEX shares from 14 Dec to 19 Dec, decreasing its ownership from 13.3% to 3.91% (33,272,800 shares).
  • VIX (VIX Securities JSC) registered to buy 15 million GEX shares via order matching/put through from 23 Dec 2022 to 20 Jan 2023, increasing its ownership from 1.76% to 3.52% (30,000,00 shares). (Source: HSX)

VPD (Vietnam Power Development JSC)

  • Tepco Renewable Power Singapore Pte. Ltd bought 26.6 million VPD shares (24.96% OS) on 20 Dec 2022 and became the second-largest shareholder of VPD after EVN Genco 1 (36.65%). Other shareholders: Pha Lai Thermal Power Co. _PPC (10.6%) and Vietnam National Union of Electric Power (3.24%).
  • VPD owns and operates three hydropower plants with a total output of 136.2 MW in the south-central region. (Source: VPD)

SBT (Thanh Thanh Cong – Bien Hoa JSC)

  • Ms. Dang Huynh Uc My (Vice Chairwoman) bought 5 million SBT shares from 28 Nov to 19 Dec 2022, increasing her ownership from 15.39% to 16.14% (112,147,115 shares). (Source: HSX)

BAF (BAF Viet Nam Agriculture JSC)

  • Siba Holdings JSC (related to the Chairman) registered to buy 4.6 million BAF shares via order matching/put through from 26 Dec 2022 to 20 Jan 2023, increasing its ownership from 37.32% to 40.5% (58,125,600 shares).
  • At the same time, BAF’s BoD members registered to sell total 3.8 million BAF shares via order matching/put through. (Source: HSX).