Apr 10: StoxPlus Morning Brief

Macro Economy

• Vietnam Is Losing Competitiveness: EuroCham
  Vietnam is losing its competitiveness, Preben Hjortlund, newly appointed president of the European Business Chamber of Commerce (EuroCham) said.

• HSC Adjusts Down April CPI Forecast to 0.6-0.8%
  Ho Chi Minh Securities Corporation (HSC) adjusted down its April CPI target to 0.6%- 0.8% from previous forecast of +1.8%, reasoning that lower prices of rice and pork can partially compensate the petroleum price hike.

• Vietnam’s Steel and Iron Import Rises 16% YoY In Jan-Feb: MoIT
  Vietnam was estimated to spend $ 958.5 million to import 1.1 thousand tons of steel and iron in the first two months of 2012, making a year on year rise of 16.05% in value and 12.72% in volume, the local on-line newspaper- vinanet.com.vn reported.

• Vietnam Central Bank Spends VND130Tln to Buy Foreign Currency
  The State Bank of Vietnam (SBV) has spent VND130 trillion to purchase foreign currency, the local online newspaper Saigon Dau Tu Tai Chinh cited information from the meeting between the central bank and 14 domestic lenders.

• Vietnam Central Bank Considers Lowering Risk Weight for Securities Lending to 150%
  The State Bank of Vietnam (SBV) intends to lower the risk weights for securities and real estate lending to 150% from current 250% and to impose a loan-to-deposit ratio of 95% [presently 80%] for banks and 100% [presently 85%] for finance companies.

• Four State-Run Banks Hold 50% of Lending Market Share
  Four state-run commercial banks [Agribank, BIDV, VietinBank, Vietcombank] still dominate the domestic lending market as their combined market share by the end of last year reached 48.8%, rising slightly from 47.5% in late 2010.

Market News

• My Thoughts On MarketVectors Vietnam ETF
  The Market Vectors Vietnam ETF (VNM) says this as its mission:

• Vietnam Stock Movers: Cotec Construction, Phu Nhuan Jewelry
  Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the 11:30 a.m. break in Ho Chi Minh City.

• April 9: Foreigners Continues Net Sellers on Both HOSE And HNX
  Foreigners continued to be net sellers on both HOSE and HNX on Monday for the third consecutive days. Level of participation tumbled.

Corporate Events

·         PET – Annual General Meeting 10/04/2012

·         THG – Annual General Meeting 10/04/2012

·         THG – Annual General Meeting 10/04/2012

·         DBM – Annual General Meeting 10/04/2012

·         TMW – Annual General Meeting 10/04/2012

·         CFC – Cash Dividend 10/04/2012

·         CX8 – Annual General Meeting 10/04/2012

·         KSB – additional listing 10/04/2012

·         INC – Annual General Meeting 10/04/2012

·         HHC – Cash Dividend 10/04/2012

·         HCT – Cash Dividend 10/04/2012

·         HCT – Annual General Meeting 10/04/2012

·         SD1 – Annual General Meeting 10/04/2012

·         NIS – Annual General Meeting 10/04/2012

·         FMC – Annual General Meeting 10/04/2012

·         SDT – Annual General Meeting 10/04/2012

·         CMS – Annual General Meeting 10/04/2012

·         BXD – Annual General Meeting 10/04/2012

·         SRC – Annual General Meeting 10/04/2012

·         SPD – Annual General Meeting 10/04/2012

·         ITA – Share Issue 10/04/2012

·         TET – Cash Dividend 10/04/2012

·         KTT – Annual General Meeting 10/04/2012

·         PTB – Cash Dividend 10/04/2012

·         UIC – Annual General Meeting 10/04/2012

·         CHP – additional listing 10/04/2012

·         TAG – Annual General Meeting 10/04/2012

·         KTT – Annual General Meeting 10/04/2012

·         ATA – Annual General Meeting 10/04/2012

·         VTV – Annual General Meeting 10/04/2012

·         BTP – Annual General Meeting 10/04/2012

·         TLG – Annual General Meeting 10/04/2012

·         ASM – Annual General Meeting 10/04/2012

·         ELC – Share Issue 10/04/2012

·         KSB – Annual General Meeting 10/04/2012

• EIB – Annual General Meeting 10/04/2012

Corporate News

• ACB: Announces 2012 AGM Resolution


• CTC: Announces 2012 AGM Resolution


• CIG: Targets VND19Bln Net Profit in 2012


• DAD: Announces 2012 AGM Resolution


• DMC: Expects VND90Bln Net Profit in 2012


• FDG: Targets VND42Bln Pre-tax Profit in 2012


• LUT: Announces 2012 AGM Resolution


• PIT: Aims VND25Bln Pre-tax Profit in 2012


• SAM: Targets 206Bln Pre-tax Profit in 2012


• TDC: BOD Adjusts 2012 Business Targets


• THT: Announces 2012 AGM Resolution


• VIC: Trades $185Mln International Convertible Bonds on SGX Apr 4


• VID: Targets VND15Bln Net Profit in 2011