Week 10/06 – 14/06

Company

bid.vn, csv.vn, ctr.vn, dbc.vn, kbc.vn, hdb.vn, hvn.vn, mwg.vn, pow.vn, tcm.vn, vib.vn, vic.vn, vhc.vn

BID VN: plans to sell a batch of bonds with a total value of VND 3,741 bn as of April 15 issued by HAGL, the starting price will be equal to the bond value with interest at the time of signing the auction contract.

Comment: The bond market is healing.

CSV VN: has just announced the implementation of a plan to issue shares to increase capital. The rate is at 150% (2 shares will receive 3 new shares). The expected number of shares issued is 66.3 mn shares, thereby increasing the company’s charter capital from VND 442 bn to 1,105 bn VND.

CTR VN: recorded, in May, revenue of VND998 bn and PBT of VND54 bn (+10% and +6% respectively YoY). For 5M2024, CTR’s revenue reached VND4,606 bn (+10% YoY) and PBT of VND250 bn (+5% YoY), completing 36% of the revenue plan and 37% of the profit target.

DBC VN: plans to offer 80.7 mn shares at a price of VND15,000/share, at a ratio of 3: 1 and issue 12 mn ESOP shares at a price of VND10,000/share.

KBC VN: proposed investing in two industrial parks worth VND17,000 bn in Can Tho, including O Mon Hi-Tech Industrial Park with total investment of VND4,200 bn and Co Do – Thoi Lai Industrial Park with total investment of VND12,800 bn.

HDB VN: wants to lower foreign room from 20% to 17.5%. The purpose of reducing foreign room is to be able to effectively deploy items under the development strategy in the coming time, ensuring compliance with relevant legal regulations and in accordance with investment needs of foreign shareholders.

Comment: This doesn’t quite make sense….deploy what times? HDB is going under? Needs a gazillion dong to save itself?

HVN VN: Vietnam Airlines leases 3 more Airbus A320 neo aircraft in 2024, the first one received from July, the peak period of the summer tourist season.

MWG VN: has just approved the plan to pay 2023 dividends in cash at a rate of 5% (1 share receives 500 VND). With more than 1.46 bn outstanding shares, MWG will pay more than VND 730 bn in dividends.

Comment: And now the chairman registered to sell his shares and the foreign room that was full for a second is now increasing…

POW VN: recorded, in May, electricity sales revenue of VND3,320 bn (-1% YoY). For 5M2024, POW’s revenue is estimated at VND12,753 bn (-7% YoY).

Comment: If the economy is growing – why are the sales of a utility down?

TCM VN: has just announced its parent company’s May business results. Specifically, revenue reached more than USD 13.08 mn (VND317 bn), + 33% yoy. PAT reached USD 1.14 mn (VND27.6 bn), + 116% compared to May 2023.

VIB VN: lowered foreign ownership to 4.99%, revealing the possibility of Commonwealth Bank of Australia divesting capital.

VIC VN: approved capital contribution to establish the subsidiary VYHT Joint Stock Company with a charter capital of nearly VND14,232 bn and the main industry being real estate business.

Comment: …………………………………… this silly a$$ company should be shut down..

VHC VN: announced May business results with total revenue of VND 1,131 bn, up 19% yoy. Pangasius revenue increased 1% yoy to 598 bn VND, contributing 53% to the revenue structure.

Country

State budget collections from the country’s import-export activities in 5M amounted to VND165.7 tn, accounting for 44.2% of the full-year target and expanding by 7.4% yoy, according to the General Department of Vietnam Customs.

The State Bank of Vietnam (SBV) has issued Circular 03/2024/TT-NHNN on bad debt trading and settlement of the Vietnam Asset Management Company (VAMC) to make the work more effective.

The Purchasing Managers’ Index (PMI) increased for the second consecutive month in May, reaching 50.3. This marked the fourth positive rise in the first five months of 2024. Industrial production grew by 8.9% year-on-year in May, the third consecutive month of growth in 2024.

VASEP’s figures show that as of May this year, the country’s export revenue reached nearly US$3.6 bn, a 6% increase against the same period of the previous year.

Over 15 banks have raised their deposit interest rates since the end of May, with the highest for a 12-month tenor now being 5.6%.

The first five months of this year saw more completely built-up cars (CBU) sold than locally assembled units, according to the Vietnam Automobile Manufacturers Association (VAMA).