15
September
The August performance witnessed continuously the decline in export volume caused by weak global demand, however, the domestic sales volume has improved thanks to the low base in 2021.
15
September
Vinh Hoan posted total revenue of VND1,270bn (+73% yoy) in August, mainly driven by the increase in export to US (+72% yoy), EU (+5% yoy), and China (+20% yoy). Specifically, revenue increased strongly by 179% in domestic market. VHC total revenue slightly increased 6% mom, assisted by +17% mom and +75% mom revenue of US export and domestic. Of note, exporting to EU and China market decreased by 40.5% mom and 12.9% mom, respectively.
15
September
The August performance witnessed impressive domestic sales volume, especially, construction steel with the growth of 70.6% yoy, 29.5% mom to 386,990 tonnes. The total August domestic sales volume increased by 23.5% yoy, 34.5% mom to 601,649 tonnes.
09
September
PAN estimates 3Q22F business results with a VND3,643bn revenue (+13% qoq and +43% yoy) and a VND140bn NPAT (-39% qoq and +92% yoy). The gross margin could fall from 21% in 2Q22 to 18% in 3Q22F due to expensive input material prices. Overall, PAN could record a VND9,815bn revenue (53.3% yoy) and a VND537bn NPAT (131.7% yoy), fulfilling 69/65% of their annual guidance in 9M22F.
05
September
PVD posted 1H22 results with VND2.7tn revenue (+60.9% yoy), and VND116bn loss (vs a loss of VND98bn in 1H21) since old drilling contracts were already signed in 2021 with low Jack-up (JU) day rates. The South East Asia drilling market started to warm and jack-up day rate improved significantly in late 2Q22 due to high oil prices. PVD expects the better JU day rate to improve its earnings from 3Q22F onward.
30
August
The Covid-19 containment and back-to-school season bolstered TLG’s net revenue to VND2.2tn (35% yoy) in 7M22. Compared to the pre-pandemic operation in 1H19, 1H22 net revenue also upped by 22%. TLG targets the revenue of VND10tn in 2027F, by developing domestic market, growing export market, engaging in new business and focusing on more refreshed & creative products.
29
August
In 7M22, PET revenue inched by 8% yoy to VND9.6tn (fulfilling 48% of full-year guidance) and GP rose by 32.2% yoy to VND598. GPM in 7M22 was 6.3%, vs 5.1% in 7M21. 7M22 stellar performance was mainly driven higher sales of laptops by 19% yoy to VND2.3tn and smartphones by 6% yoy to VND3.4bn. These two segments could surge in 2H22F thanks to the high demand of students for the new semester and the latest iPhone 14 model coming in September 2022.
29
August
Started from July 2020, DMX Supermini currently operates 1,000 stores in Vietnam by Aug 2022. DMX Supermini expects to earn revenue of VND12.5tn in 2022F and VND20tn in 2023F.
26
August
In 1H22, BSR's net revenue and NPAT-post MI increased +78% yoy and +252% yoy to VND87.2tn and VND12.5tn, respectively thanks to rising global oil prices and crack spread. The company sets ambitious 2H22’s targets with output, revenue and EBT of 3.2mn tonnes, VND46tn and VND738bn, respectively. BSR expects to be officially listed on HSX after the AGM in 2023.
15
March
Regarding the impact of the global commodity price surge on Vietnam CPI, we estimate that the current value of Brent price could push 2022 inflation to exceed the government target of 4%, mainly through the consumption channel. However, implementing well-established tools allows the Vietnam government to mitigate external shocks proactively. To sum up, we forecast that the global commodity surge would create temporary pressure on Vietnam inflation.
27
December
Key factors that drive the stock market to rise in 2022 include: (1) the Vietnam economy recovering and strong growth in 2022 and (2) new money will continue to flow into the stock market as new cash flows into stock markets and new money comes from capital flows of securities companies to margin.
09
November
A record plunge in Vietnam’s economy in 3Q21 has threatened economic prospects in the medium and long term growth. The government is standing in a right place to mitigate the lingering impact of the current outbreak and the next ones if they take appropriate actions in an appropriate timing and appropriate way. Recent macro and policy developments are signaling that the ongoing economic recovery would be smooth and sound, but it needs a booster shot, a sufficiently large fiscal relief package, to accelerate recovery momentum and help economic growth back on track. From our view, the “Economic Recovery and Development” fiscal support package, if successfully passed, would be a key to unlocking the full potential of the economic recovery.
26
July
Amid a widespread COVID-19 delta attack in the Southeast Asia region, Vietnam is stepping into the worst outbreak in both its health and economic impacts. Although the government actively deployed various solutions to follow the twin target that effectively controls the pandemic and promotes socio-economic development, the negative impact of economic recovery is inevitable. We predict that the COVID-19 economic impacts on domestic consumption and production levels would be partly reflected in oncoming macroeconomic updates under strict lockdowns nationwide.
18
June
Surging commodity prices and increasing inflation recently pose a considerable risk to global economic stability. However, the majority of global economists and monetary policymakers just saw this phenomenon as a transitory factor, and this trend would eventually reverse to a normal track in the medium- and long- term. Regarding Vietnam's situation, we saw a stable demand-supply balance in major commodities and well-controlled price conditions. The inflation shock in the near term, if it happens, would be expected to be transient and bear a little risk to the economic stability.
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