FIDES(VIETNAM) Market Statistics 25/04 – 29/04/2022
|Change||Trading Volume||Trading Value||Foreign net buy/sell|
|(%)||Average daily trading volume (mil.shares)||Average daily trading value (mil.USD)||Net trading value (mil.USD)|
Sector Performance (HOSE + HNX, %)
Foreign Top buy/sell (HOSE + HNX, mil.USD)
MoF proposes reduced tax for import petrol
- The Ministry of Finance (MoF) has proposed the Government cut the most favoured nation (MFN) tariff for unleaded petrol from the current rate of 20% to 12%.
- The proposed tariff rate could not significantly reduce domestic petrol prices because Viet Nam now mainly imports petrol from ASEAN and South Korea. However, it would encourage the domestic enterprises to diversify petroleum supply from other countries such as China, the United States, and countries in the Middle East, avoiding dependence on a few partners, especially if the supply in the world market fluctuates.
- The petrol and oil supplies for the domestic market are mainly from the Nghi Son and Binh Son Refinery and Petrochemical Plants, and the rest are imported mostly from Korea and the ASEAN region with the import tax rates under the FTAs (tariff rate: 8%)
FDI in 4 months 2022
- Registered foreign direct investment (FDI) reached $8.91 bn (-12.07% yoy) in 4 months 2022. In which: newly registered reached $3.7 bn (-56.3% yoy), additionally registered reached $5.29 bn (+92.5% yoy) and capital contribution, share purchase reached $1.83 bn (+74.5% yoy).
- Singapore is largest investor with a total investment capital of $3.1 bn (accounting for 28.8% total registered investment capital), followed by Korea (16.9%, $1.82 bn) and Denmark (12.2%, $1.32 mn).
- FDI disbursement increased 7.6% yoy, to $5.92 bn. (Source: Ministry of Planning & Investment)
SAB (Saigon Beer – Alcohol – Beverage Corp.)
- Q1/2022: Revenue of $317.67 mn (+24.7% yoy) and PAT of $50.9 mn (+27.13% yoy) thanks to: (1) a recovery of beer sales consumption that was backed by Vietnam’s economic reopening, (2) a selling price hike and a better product mix. (Source: SAB)
MSN (Masan Group Corp.)
- Q1/2022: Revenue of $790.83 mn (-8.9% yoy) as MSN sold its feed business in 2021. Excluding 2021 feed revenue for a like-for-like comparison, revenue grew by 11.9% yoy in Q1/2022 thanks to: MCH (Masan Consumer Holdings) increased by 17.4% yoy and MHT (Masan High-Tech Materials) increased by 32.6% yoy.
- PAT of $69.39 mn, +8.5x yoy thanks to MSN booked $29.61 mn one–off financial income (including: a gain from the revaluation of its pre-existing investment in Phuc Long Heritage and the remaining gain from the feed business sold last year). Excluding this one-off financial income, PAT reached $39.78 mn, +4.9x yoy.
- MSN announced the closing of its $65 mn investment for 25% of Trusting Social Company JSC, the Vietnam subsidiary of Singapore based Trust IQ Pte. Ltd. Trusting Social is the leading company in Asia in Artificial Intelligence (AI) and Machine Learning (ML) for financial institutions. MSN’s goal is to build a consumer-tech ecosystem.
- MSN launched its credit card EVO Visa, helping customers to access credit at the lowest cost of fund. (Source: MSN)
HPG (Hoa Phat Group JSC)
- Q1/2022: Revenue of $1.93 bn (+41% yoy) and PAT of $356.52 mn (+17% yoy). In 1Q22, HPG sold nearly 2.5 mn tonnes of steel products (+14.8% yoy) thanks to strong demand from both export and domestic markets for steel products.
- In Q1/2021, HPG booked one-off divestment earnings of $21.74 mn. Excluding these one-off extraordinary items, core earnings would have increased by 26.6% yoy.
- Q1/2022, net profit margin fell due to rising material costs (including iron ore, coking coal, scraps…) (Source: HPG)
VRE (Vincom Retail JSC)
- Q1/2022: Revenue of $60.87 mn (-38% yoy) and PAT of $16.39 mn (-52% yoy). Leasing sales decreased by 27.2% yoy as provided financial support packages to tenant. Property sales decreased by 81.4% yoy due to project recognition timing.
- VRE launched Vincom Mega Mall Smart City (retail GFA of 68,000 sqm; current occupancy rate of 88%) in Hanoi on Apr 2022, resulting in total number of shopping malls reaching 81 malls with a total retail leasing GFA of 1.72 million sqm. VRE also expects to launch Vincom Plaza My Tho (Tien Giang province) and Vincom Plaza Tran Huynh Bac Lieu (retail GFA of ~12,000-15,000 sqm/mall) in June 2022. (Source: VRE)
VHM (Vinhomes JSC)
- Q1/2022: Revenue of $260 mn (-40% yoy) and PAT of $195.65 mn (-16% yoy). (Source: VHM)
GMD (Gemadept Corp.)
- Q1/2022: Revenue of $38.25 mn (+27.98% yoy) and PAT of $11.9 mn (+86.08% yoy) thanks to: (1) Gemalink has been profitable since Q3/2021 and (2) Income from affiliates was up 5.1x yoy. (Source: GMD)
BSR (Binh Son Refining and Petrochemical JSC)
- Q1/2022: Revenue of $1.51 bn (+65.3% yoy) and PAT of $101 mn (+25.2% yoy). Sell volume reached 1.6 million tons (+2.5% yoy). (Source: BSR)
DRC (Danang Rubber JSC)
- Q1/2022: Revenue of $55.81 mn (+40.69% yoy) and PAT of $2.86 mn (+3.32% yoy).
- By market: Export sales rose 47.5% yoy and domestic sales rose 26.6% yoy.
- By products: Sales of bias tires and radial tires, which together accounted for 81% of total sales, rose strongly by 42% yoy.
- In Q1/2022, gross profit margins fell to 15.6% from 18.2% due to rising input cost (natural rubber, synthetic rubber, coal, chemicals). (Source: DRC)
GEX (Gelex Group JSC)
- Q1/2022: Revenue of $375.87 mn (+100% yoy) and PAT of $30.17 mn (+140% yoy) thanks to the consolidation of VGC (Viglacera). (Source: GEX)
PVT (Petrovietnam Transportation Corp.)
- Q1/2022: Revenue of $87.9 mn (+17.8% yoy) and PAT of $6.63 mn (+11.8% yoy) thanks to: (1) contributions from new tankers and (2) a recovery of transportation demand.
- Transportation segment (accounting for 73% total revenue) increased by 22.9% yoy, oil fields services increased by 2.5% yoy and trading segment increased by 113.8% yoy.
- In Q1/2022, PVT invested in 2 new chemical tankers with capex of $15.7 mn. (Source: PVT)
PVS (PetroVietnam Technical Services Corp.)
- PVS and RENOVA (Japan) cooperate to implement offshore wind power projects in Vietnam. According to the MoU, PVS & RENOVA will establish cooperation in offshore exploration, preparation, survey, development, construction, construction, operation, and maintenance of offshore wind power projects in Vietnam, towards the goal of commercialization. (Source: PVS)
|Banks’s Result Business In Q1/2022|
|CTG||Vietnam Joint Stock Commercial Bank for Industry and Trade||204.26||-27.4%||19.55%||2.84%||1.24%|
|TCB||Vietnam Technological and Commercial Joint Stock Bank||784.25||46.4%||26.50%||5.71%||0.66%|
|HDB||Ho Chi Minh City Development Joint Stock Commercial Bank||87.84||20.3%||12.00%||2.31%||1.17%|
|VPB||Vietnam Prosperity Joint Stock Commercial Bank||513.39||13.4%||18.70%||7.64%||4.47%|
|MBB||Military Commercial Joint Stock Bank||552.05||53.7%||24.60%||5.03%||0.90%|
|TPB||Tien Phong Commercial Joint Stock Bank||210.00||37.6%||21.70%||4.69%||0.82%|
|ACB||Asia Commercial Joint Stock Bank||417.51||25.0%||16.20%||4.01%||0.78%|
|LPB||Lien Viet Post Joint Stock Commercial Bank||124.92||54.3%||18.10%||3.53%||1.33%|
|SHB||Saigon Hanoi Commercial Joint Stock Bank||216.59||91.0%||19.31%||4.14%||1.74%|
|VIB||Vietnam International Commercial Joint Stock Bank||278.68||38.1%||19.20%||4.38%||2.32%|
VPB (Vietnam Prosperity Joint Stock Commercial Bank)
- VPB has received the entire disbursement of an offshore syndicated loan facility worth $600 mn with a term of 3 years. The loan is co-arranged and underwritten by Sumitomo Mitsui Banking Corporation (SMBC) and Maybank Securities Pte (Maybank). Lenders include SMBC, Maybank, Cathay United Bank, CTBC Bank and the State Bank of India.
- Up to now, VPB has received $900 mn of offshore funding with the involvement of SMBC
MIG (Military Insurance Company)
- MB Capital and JAMBF sold out a total of nearly 6.7 million MIG shares by order matching method, from March 25 – April 22. In which:
- MB Capital sold 2,158,900 MIG shares, decreasing its ownership from 2.96% to 1.45% (2,073,902 shares).
- JAMBF sold 4,503,336 MIG shares, decreasing its ownership from 3.15% to 0%. (Source: HSX)
HSG (Hoa Sen Group)
- Plan to issue more than 4.93 million ESOP shares (1% OS), at VND10,000/share and a one-year lock-up. Expected time: May-2022. (Source: HSG)
NLG (Nam Long Investment Corp.)
- NLG’s chairman and his wife registered to buy a total of 4 million NLG shares from 28 Apr to 28 May 2022. If the transaction is successful, their ownership would increase from 15.73% to 16.77% (64,229,718 shares). (Source: HSX)
BMI (Bao Minh Insurance Corp.)
- SCIC Investment Co., Ltd registered to buy 1 million shares (0.91% OS) via order matching or put through from 29 Apr to 27 May. It currently holds 0 share. (Source: HSX)