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FIDES(VIETNAM) Market Statistics 7/11 – 11/11/2022

FIDES(VIETNAM) Market Statistics 7/11 – 11/11/2022

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-4.27%622.09424.02165.84
VN30-4.92%232.97193.3889.30
HNX-7.21%63.0436.4714.19
Upcom-7.59%27.5914.753.14

Source: Fiinpro

Sector Performance (HOSE + HNX, %)

Source: Fiinpro

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

Source: Fiinpro

News

Economy- Society

Marco-economic

  • National Assembly approved the social economic development plan for 2023; key targets include:
    • GDP is 6.5%; GDP per capita is USD 4,400; The proportion of manufacturing in GDP contribution is 25.4-25.8%.
    • The average growth rate of the CPI is about 4.5%.

Vietnam Trade Balance 10 months 2022

  • In Oct 2022, exports of $30.37 bn (+4.89% yoy) and imports of $27.9 bn (+6.7% yoy) resulted in a trade surplus of $2.47 bn.
  • 10M2022, exports of $312.94 bn (+15.97% yoy) and imports of $303.36 bn (+12.16% yoy) resulted in a trade surplus of $9.59 bn.

Company- Sector

Vietnam Stock Exchange official announcement – Regarding the WFE membership

  • Vietnam Stock Exchange (VNX) announced that they had registered to become an official member of the World Federation of Exchanges (WFE) to replace the Ho Chi Minh Stock Exchange (HoSE).
  • After the Vietnam Stock Exchange joins as an official member, the Ho Chi Minh Stock Exchange and the Hanoi Stock Exchange also enjoy the same benefits as the official membership.
  • The VNX was established under the parent-company model on the basis of the rearrangement of the HSX and HNX.

Brokerage:

  • There were 96,290 retail accounts opened in October 2022 (-25.68% yoy and -5.73% mom). (Source: VSD)

Insurance sector

  • Vietnam Chamber of Commerce and Industry (VCCI) proposes to cancel compulsory liability insurance on motorbike riders. VCCI argued that the claim ratio of this product is extremely low at about 5.9% compared to the claim ratio of compulsory liability insurance on car drivers of 33%.

Petroleum sector

  • SBV decisively required all commercial banks to grant adequate credit for petroleum companies timely to meet their capital demand and ensure the gasoline supply.
  • MoF will lift the expense of transferring oils and gasoline to Vietnam by VND160-660 and VND 290-560, respectively, since Nov-11. The changes will raise the gasoline and oil retail price by VND 50-150 and VND 50-720 per litter, respectively.
  • MoF announced to raise the expenses arising from the transportation of gasoline from abroad to Vietnam, which is a component in the calculation of retail imported petroleum. The base gasoline used for blending E5RON92, RON 95, diesel oil, kerosene, mazut oil increased to 640 VND (+83%), 1,280 VND (+78%), 730 VND (+28%), 1,740 VND (+61%), respectively.

Energy sector

  • Nghi Son, Vietnam’s largest refinery, will import 2.52 million tons of crude oil in Q4/2022 while running at full capacity aiming to maintain stable supplies of petroleum products in the domestic market. Nghi Son refinery was running at 103.5% of its capacity during October and will operate at 100% in November and December.
  • Nghi Son is making crude oil import plans for the first quarter of 2023, to be submitted to the Ministry of Trade and Industry
  • Meanwhile, Vietnam’s second oil refinery, Dung Quat, stated that they has also been running at 112% of its capacity since the end of 5 Oct 2022 from a previous 109% to ensure petroleum supply.

Aviation

  • According to the Ministry of Transport (MoT), Vietnam needs to mobilize $5.45 bn private capital toward airport infrastructure in 2021-2030. Specifically, total capital demand is $16.21 bn, of which $418.8 mn can be funded from MoT and state-run Airports Corporation of Vietnam (ACV) can contribute $11.28 bn.
  • ACV stated that private investment in aviation is necessary as the corporation will only focus on investing in several out of 21 airports under its management in 2021-2025, namely phase 1 of Long Thanh International Airport (Dong Nai), expansion of Tan Son Nhat (Ho Chi Minh City), Noi Bai (Hanoi), Cat Bi (Haiphong).

Corporate bond

  • In Oct-2022, there was only 1 corporate bond private placement with a value of $8.4 mn by Nui Phao Mining Co., Ltd
  • The value of corporate bonds issued last month dropped sharply by 100% yoy
  • Since the beginning of 2022, the total value of corporate bonds issued reached $10.1bn, more than $9.6 bn of which were private placement (-51% yoy)

Real Estate sector

  • On Nov-8, a meeting between Government and property developers was held to find out a solution for current real estate circumstances, summarized as follows:
    • The Government will not support the current credit and liquidity problems
    • SBV will keep tightening the credit to property sector
    • Bonds will still be inspected (in case any material mistakes arisen, issuers have to sell collateral to fulfill their obligation).
    • The Government only claim stable policies after dealing with short-term problems.
    • Developers with a moderate debt structure and good collateral may overcome the crisis in Q4/2022.

ICT sector

  • Samsung will reduce the proportion of its smartphone production in its Vietnam factory from 50% in 2022 to 40% in 2023. Last year, Samsung Vietnam even accounted for 60% of its total smartphone production. Samsung’s Vietnam production usually supplies the markets in North America and Europe.
  • Vietnam’s rising labor costs and the slowdown of the global consumer market are considered the main reasons behind Samsung’s recent move.

HPG (Hoa Phat Group JSC)

  • In Oct 2022, construction steel sales volume reached 210,000 tons (-55% yoy) and HRC volume reached 267,000 tons (+30% yoy). Sheet and steel pipe volume reached 57,000 tonnes (-20% yoy) and 27,000 tonnes (-39% yoy), respectively.
  • 10M2022: construction steel sales volume reached 3.6 million tons (+13% yoy) and HRC reached 2.3 million tons (+9% yoy). In addition, HPG sold 634,000 tons of steel pipes (+11% yoy) and 276,000 tons of galvanized steel (-13% yoy). (Source: HPG)

VHC (Vinh Hoan Corp.)

  • In Oct 2022, revenue of $40.8 mn (+25.5% yoy), of which: pangasius sales increased by 0.8% yoy, by-products sales increased by 48.8% yoy and collagen & gelatin sales decreased by 115.6% yoy. EU revenue witnessed strongest performance in Oct, increasing by 72.4% yoy while US decreased by 12.9% yoy and China decreased by 43.4% yoy.
  • 10M2022: revenue of $478.3 mn (+66.4% yoy), of which: pangasius products ($308.6 mn, +59.4% yoy), by-products ($80.7 mn, +54.3% yoy), collagen & gelatin ($29.6 mn, +40.5% yoy). By market: US ($217.5 mn, +77.2% yoy), EU ($60.6 mn, +28.5% yoy) and China ($47.7 mn, +16.9% yoy). (Source: VHC)

CTR (Viettel Construction JSC)

  • 10M2022: revenue of $311.97 mn (+26.8% yoy, completed 90.4% target year 2022) and PBT of $18.52 mn (+25.2% yoy, completed 88.4% target year 2022).
  • Revenue growth was led by robust results of construction ($88.5 mn, +80% yoy, accounting for 28% revenue), Telecom infrastructure operation ($173.56 mn, +17.5% yoy, accounting for 56% revenue), telecom infrastructure leasing (+57.7% yoy, accounting for 3% revenue). Revenue from the integrated solutions segment decreased by 17.1% (accounting for 10% revenue).
  • CTR owns 4,070 towers and tenancy rate remains at 1.03 at the end of Oct 2022. (Source: CTR)

VNM (Viet Nam Dairy Products JSC)

  • Angkormilk (Vinamilk’s fully owned subsidiary in Cambodia) will invest additional $19 mn in the dairy cow farm in Cambodia, raising total capex to $42mn. As a result, the total volume of raw milk produced can reach to 4,000 tonnes per year in 2-3 upcoming years. In addition, Angkormilk shared that they are expanding the factory in Cambodia to increase capacity from 50 mn to 90 mn litters/year.

VIB (Vietnam International Commercial Joint Stock Bank)

  • IFC (a member of World Bank) completed the disbursement of $150 mn loan to VIB, tenor: 5 years. Of which, $45mn will target at home mortgage with value of under $35,000.

BAF (BAF Viet Nam Agriculture JSC)

  • BAF approved the private placement of $24.12 mn unsecured convertible bonds without warrant to IFC. Tenor: 7 years, fixed rate at 5.25% (if IFC buy the inconvertible bond, the rate of 10.5% shall be applied). Proceeds will be contributed to BAF subsidiaries operating in agriculture sector. (Source: BAF).   

PNJ (Phu Nhuan Jewelry JSC)

  • Plan to issue more than 82 million bonus shares at ratio 30%. Expected time: Q4/2022, after being approved by the State Securities Commission of Vietnam (SSC). (Source: PNJ)

BVH (Bao Viet Holdings)

  • Approved plan to pay dividend 2021: 30.261% cash. Ex-right date: 25 Nov 2022. Payment date: 28 Dec 2022.

IDC (IDICO Corporation – JSC)

  • BoD released the resolution on seeking shareholders’ approval on treasury share purchase. The buyback volume has not yet been announced.

PTB (Phu Tai JSC)

  • BoD announced to suspend the additional issuance to existing shareholders (9.7 million shares) and ESOP (971,000 shares) issuance due to unfavorable market condition.
  • BoD released the resolution on seeking shareholders’ approval on treasury share purchase. The buyback volume has not yet been announced.

FRT (FPT Digital Retail JSC)

  • FRT approved the resolution for additional capital contribution of $9mn to raise their ownership at Long Chau Pharmacy chain from 85.07% to 89.93%.

MWG (Mobile World Investment Corp.)

  • Mr. Nguyen Duc Tai (chairman) registered to buy 1 million MWG shares via order matching/put through from 14 Nov to 13 Dec 2022, increasing his ownership from 2.33% to 2.4% (35,129,892 shares).
  • Mr. Tran Huy Anh Tung (CEO) registered to buy 500,000 MWG shares via order matching/put through from 11 Nov to 9 Dec 2022, increasing his ownership from 0.726% to 0.76% (11,130,544 shares). (Source: HSX).

HAH (Hai An Transport & Stevedoring JSC)

  • Hai Ha Investment & Transportation JSC (related to chairman) registered to buy 1 million HAH shares via order matching/put through from 11 Nov to 8 Dec 2022, increasing its ownership from 11.08% to 12.5% (8,794,500 shares). (Source: HSX)

KBC (Kinh Bac City Development Holding Corp.)

  • Mr. Dang Thanh Tam (Chairman) registered to buy 50 million KBC shares via order matching/put through from 15 Nov to 14 Dec 2022, increasing his ownership from 14.81% to 21.32% (163,666,665 shares). (Source: HSX).
  • Dragon Capital sold 2.07 million KBC shares on 4 Nov 2022, decreasing their ownership from 5.028% to 4.76% (36,520,366 shares). (Source: HSX)

PC1 (PC1 Group Joint Stock Company)

  • Trinh Van Tuan (chairman) registered to buy 1 million PC1 shares (0.37% OS) via order matching and/or put through from 15 Nov to 28 Nov, increasing his ownership from 21.01% to 21.38% (57,823,715 shares). (Source: HSX)

CII (Ho Chi Minh City Infrastructure Investment JSC)

  • Ms. Pham Thi Thuy Hang (CEO’s wife) registered to buy 2 million CII shares (0.79% OS) via order matching and/or put through from 15 Nov to 14 Dec, increasing her ownership from 0.4% to 1.19% (3 million shares). (Source: HSX)

DIG (Development Investment Construction JSC)

  • Mr. Nguyen Thien Tuan (chairman) was forced sell about 9.4 million shares from MASS, Yuanta, and KBSV.
  • He currently holds 49 million shares (8.04% OS).

DXG (Dat Xanh Group JSC)

  • Mr. Luong Tri Thin (chairman) bought 10 million DXG shares from 27 Oct to 8 Nov 2022, increasing his ownership from 18.86% to 20.5% (124,890,948 shares). (Source: HSX)

NVL (No Va Land Investment Group Corp.)

  • Mr. Bui Cao Nhat Quan (chairman’s son) bought 2 million NVL shares from 14 Oct to 3 Nov 2022, increasing his ownership from 4.17% to 4.27% (83,242,008 shares). (Source: HSX)

KDH (Khang Dien House Trading and Investment JSC)

  • VOF Investment Ltd (Vina Capital) bought 10 million KDH shares from 31 Oct to 8 Nov 2022. After transaction, they will hold 10 million shares (1.41% OS)