FIDES(VIETNAM) Market Statistics 5/12 – 9/12/2022

Market Summary
	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)
HSX	-2.61%	1,019.56	733.25	177.13
VN30	-2.55%	347.2	335.45	110.91
HNX	0.48%	131.18	79.25	6.46
Upcom	-0.84%	52.19	24.61	(0.68)

Source: Fiinpro

Sector Performance (HOSE + HNX, %)

Source: Fiinpro

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

Source: Fiinpro

News

Economy- Society

South Korean companies’ decisions on sizing up their investments in Vietnam

• LG plans to add another $4 bn into Vietnam. LG Group has presented in Vietnam since 1995 and invested about $5.3 billion in the country so far to manufacture various products, comprising of electronics, cameras, displays, household appliances, and auto components. LG expects to turn Vietnam into a production hub for telephone cameras in the future.
• Samsung is set to pour $2 billion into Vietnam, raising its total investment in the country to $20 bn, according to Samsung Electronics.
• Solum Electronics Vietnam received an amended investment certificate to expand its investment from $110 mn to $155 mn. Following the expansion, the factory will manufacture 360.96 million electronic components and telecom products per year, earning an expected profit before tax of $10 mn/year. Solum is supplying electronic components for tech giants like Samsung, Oppo, Panasonic and Sony.

Heineken intention to expand its biggest Southeast Asia brewery in southern Vietnam

• Heineken Vietnam committed to invest an additional $142 mn in its Ba Ria-Vung Tau based brewery, enhancing the plant’s capacity from 11 mn hectoliters (hl) to 16 mn hl. The expansion shall be carried out in 2023-2025, raising total investment in the brewery to $500 mn. This is the biggest brewery in Southeast Asia.

INSEE adds $35.7 mn to southern Vietnam facility

• INSEE Vietnam, a subsidiary of Thailand’s Siam City Cement, began construction of its second production line worth $35.7 mn in Thi Vai. The Thi Vai cement grinding station mill 2 is the second largest investment of the firm in Thi Vai grinding station since its construction.
• This is the fifth INSEE Vietnam’s facility in the country, after those in Cat Lai, Thi Vai (Ba Ria Vung Tau), Hiep Phuoc (HCMC), Nhon Trach (Dong Nai) and Hon Chong (Kien Giang). All facilities locate in the southern region.

Company- Sectors

Fubon FTSE Vietnam ETF

• Fubon ETF has disbursed $49.9 mn since the beginning of Dec 2022.
• Up to 6 Dec 2022, Fubon has disbursed around $699 mn in Vietnam stock market, making it the second largest ETF in Vietnam.

Brokerage sector

•  There are 88,479 new securities accounts opened in November (-59.96% yoy and -8.26% mom), marking the 6th consecutive month of falling in new accounts opened.

Source: VSD

Banking sector

• SBV recently decided to increase the credit room for the entire banking system by about 1.5 – 2%, raising credit growth for the whole year to 15.5-16%. As of Dec-8, credit growth has reached 12.2% ytd. The new 2% quota granted together with the remaining quota is expected to supply an additional 3.8% credit (equivalent to $9.6 bn) to the economy till Jan 2023.
• Mr. Dao Minh Tu, vice governor of SBV, sharing on the 2% additional credit quota, key takeaways as follows:
  • Quota allocation: Focus on banks with (1) excess liquidity, (2) interest rate cut policy.
  • Target industries: Agriculture, SMEs, exports, social housing.
• SBV added the 91-day term to OMO operation besides the 14-day operation as usual, supporting liquidity for the whole banking, especially small and medium sized banks.
• SBV cut the USD selling price to VND24,830.

HPG (Hoa Phat Group JSC)

• In Nov 2022, construction steel sales volume reached 252,000 tons (+20% mom and -7% yoy) and HRC volume reached 180,000 tons (-32.7% mom and -12% yoy), resulting from weak steel demand in both domestic and export markets. Steel pipe and steel sheet volume reached 53,000 tonnes (+4.2% yoy) and 22,800 tonnes (-63.4% yoy), respectively.
• 11M2022: construction steel sales volume reached 3.9 mn tons (+11% yoy), of which: export volume reached 1.1 mn tons (+21.5% yoy) and domestic volume reached 2.8 mn tons (+6.8% yoy). HRC reached 2.5 million tons (+6% yoy). In addition, HPG sold 688,000 tons of steel pipes (+11% yoy) and 300,000 tons of steel sheet (-20% yoy). (Source: HPG).

TNG (TNG Investment and Trading JSC)

• Nov 2022, revenue of $21.08 mn (+16% yoy), of which: export revenue accounted for 97% with $20.42 mn, mainly attributing to the US (40.13%), France (28.79%), and Russia (7.3%). PAT of $0.83 mn (-3% yoy).
• 11M2022, revenue of $263.96 mn (+27% yoy, completed 106% target year) and PAT of $11.5 mn (+29% yoy, completed 99% target year). (Source: TNG)

BSR (Binh Son Refining and Petrochemical Company Limited)

• Dung Quat oil refinery has reached 6.6 mn tonnes volume, completing the 2022 target 23 days before schedule. (Source: BSR)

PLX (Viet Nam National Petroleum Group)

• PLX announced the adjustment of the business plan 2022: revenue target increased by 29% from $7.9 bn to $10.2 bn while target PBT reduced by 90% from $130 mn to $12.8 mn.
• Divestment of PGB (Petrolimex Group Commercial Joint Stock Bank) is expected to complete in 1H2023.
• Government will maintain its holding in PLX at 75.9% until 2025. (Source: PLX)

HVN (Vietnam Airlines JSC)

• Vietnam Airlines officially resumed regular flights to China on Dec-9 after 03 years of suspension due to Covid 19.  (Source: HVN)

VinFast

• Vinfast filed for an IPO with the US Securities and Exchange Commission, intending to list on Nasdaq Global Select Market under the ticker VFS. The number of listed shares and the expected price range are yet to be determined. The offering is advised by Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Credit Suisse Securities (USA) LLC and J.P. Morgan Securities LLC. Total asset: $4.4bn and total debt: $8.78 bn. Accumulative losses: $4.7 bn.
• VinFast announced to choose the leading telecom provider T-Mobile, as their exclusive partner to provide connection for smart electricity vehicles in North America and Europe, enabling them to perform remote car management, online programs broadcasting, updating traffic information.

NVL (No Va Land Investment Group Corporation)

• NVL approved to add additional collaterals securing the $100mn syndicated loans provided by Credit Suisse AG, Singapore Branch, and other lenders.
• Specifically, NVL mortgaged entire holdings in Van Phat Real Estate Development Investment JSC, and all Van Phat’s accounts, receivables (including BCC projects).
• NVL also mortgaged entire capital contribution in The Forest City Co., Ltd., owned by Van Phat, together with Forest City’s accounts and other receivables secured by real estate and receivables according to BCC contract.

HBC (Hoa Binh Construction Group JSC)

• HBC successfully completed $3.94mn corporate bond private placement on 25 Nov 2022.
• Tenor: 3 years. Maturity date: 31 Oct 2025. (Source: HBC)

DIG (Development Investment Construction JSC)

• DIG plans to offer 100 mn shares to existing shareholders at the ratio 16.4% at the selling price of 15,000 VND/share. Expected time: Q1/2023.
• Proceeds of $62.5 mn shall be disbursed to invest to Long Tan tourist urban area project in Dong Nai province (2023-2024). (Source: DIG)

PDR (Phat Dat Real Estate Development JSC)

• PDR announced the sale of 28.5 million shares (89% charter capital) of Hoa Binh Real Estate JSC, owning the project at 197 Dien Bien Phu, Binh Thanh District, HCMC
• PDR made early payment to $54.4 mn debt, including both bank loans and corporate bonds since Oct-2022. Previously, PDR’s total loans and bonds were $220.3 mn. Post transaction, PDR’s debt was recorded at $165.9 mn

KBC (Kinh Bac City Development Holding Corporation)

• KBC wants to buy back 100 mn treasury shares (13% OS) to reduce charter capital via matching and/or put-through. The expected buy-back price will not exceed 34,000 VND/share.
• At the same time, the KBC wants to cancel the private placement of 150 mn shares in 2022 due to unfavorable market conditions. (Source: KBC)

LPB (Lien Viet Post Joint Stock Commercial Bank)

• Mr. Duong Cong Doan (vice chairman’s brother) registered to sell 15.4 mn LPB shares (1.02% OS) via order matching or put through from 12 Dec to 10 Jan 2023, decreasing his ownership from 1.687% to 0.665% (153,731,480 shares). (Source: HSX)
• Mr. Nguyen Duc Thuy becomes Chairman of LPB since 9 Dec 2022. (Source: LPB)

STB (Sai Gon Thuong Tin Commercial Joint Stock Bank)

• Dragon Capital bought 5.11 mn STB shares on 5 Dec 2022, increasing their ownership from 4.98% to 5.25% (99,038,400 shares). (Source: HSX)

KDH (Khang Dien House Trading and Investment JSC)

• VOF Investment (VinaCapital) registered to sell all 10 mn KDH shares (1.41% OS) via matching and/or put through from 12 Dec 2022 to 10 Jan 2023. (Source: HSX)

GEX (GELEX Group JSC)

• Dragon Capital bought 3 mn GEX shares on 5 Dec 2022, increasing their ownership from 5.68% to 6.03% (51,344,488 shares). (Source: HSX)

FTS (FPT Securities JSC)

• SBI Financial Services Co., Ltd (the largest shareholder) registered to buy 1.95 mn FTS shares, via matching and/or put through from 9 Dec 2022 to 6 Jan 2023, increasing its ownership from 23.5% to 24.5% (47,791,806 shares). (Source: HSX)

SAB (Saigon Beer – Alcohol – Beverage Corp.)

• Second dividend 2022: 10% cash. Ex-date: 20 Dec 2022. Payment date: 11 Jan 2023. (Source: SAB)

VNM (Viet Nam Dairy Products JSC)

• Second dividend 2022: 14% cash. Ex-date: 22 Dec 2022. Payment date: 28 Feb 2023. (Source: VNM)

DGC (Duc Giang Chemicals Group JSC) 

• Interim dividend 2022: 30% cash. Ex-date: 19 Dec 2022. Payment date: 10 Jan 2023. (Source: DGC)