20
June
GMC targets a VND620bn revenue (-42% yoy) and a VND60bn NPAT (+9% yoy) in 2022F. The company will pay 2021’s dividend by cash at 50%, in which 1st payment of 20% will be on June 24th and the 2nd payment of 30% is expected to be in 3Q22F. A 50% cash dividend at par could bring an appealing dividend yield of 22.2%.
17
June
On Jun 16, we attended TCL’s AGM presentation briefing for the upcoming business plan. TCL currently held 92%, and 65% of market shares in the port operating segment in the Ho Chi Minh region, and Cai Mep area, respectively. TCL also occupied merely 50% of the container for international trades segment. On a prudent hope for a robust revival, TCL guides NPAT to be VND117.7bn, +3.7% yoy driven by a revenue estimate of VND1,242.5bn, +3.4% yoy. A 42% cash dividend at par could be paid in Aug, 2022, equivalent to a dividend yield of 11.6%.
16
June
Indirectly owned by Duc Giang Chemicals JSC (DGC VN, Non-rated) with a 51% stake, Vietnam Apatite Phosphorus Company (PAT) is going to list on the UPCoM bourse on Jun 17th with its 25mn shares. Riding on the commodity upswing, PAT stands out and gains the spotlight.
09
June
The management sets conservative guidance when it targets the output of 4.34bn kWh (+35% yoy), revenue of VND8,129bn (+32% yoy), and PAT of VND468bn (-12% yoy). NT2 is going to pay a 15% cash dividend at par for 2022F. In 1Q22, NT2 recorded a splendid result with a VND2,006bn (+22% yoy) and a VND159.6bn (+38.9% yoy), fulfilling 25%/34% annual guidance. 2Q22’s net profit is predicted to exceed 20% of quarterly plan. NT2 expects to enjoy better results in 2022F and a spectacular result since 2024F when its assets reach full depreciation.
07
June
Construction steel stole the spotlight with the sales volume posted at 393,000 tonnes, +32.0% mom and +21.2% yoy. The 4 price cuts in May have started to show the effectiveness for construction products.
24
May
HPG BOD had conservative guidance caused by the uncertainty of geopolitical tension. The BOD supposed that the industry impact caused by the geopolitical tension and the Zero-COVID policy will be shown in the company’s performance in 2Q22 and 3Q22.
19
May
HSG witnessed the slightly weaker performance in FY7M2022 on year-on-year basis caused by weak sales volume in first 4 months of 2022. Total Apr steel sales volume posted 175,144 tonnes, increasing by 9.7% mom but decreasing by 18.2% yoy.
19
May
The April performance witnessed the growth in export volume on year-on-year basis, helping export channel to remain as the key growth driver in 4M22. Domestic volume of steel coat recorded 19,331 tonnes (-18.2% mom, -35.3% yoy) and steel pipes volume posted 13,756 tonnes (-16.5% mom and -35.3% yoy).
19
May
The April performance witnessed the weak domestic demand for construction steel. The 4M22 performance witnessed the revival in domestic market, however, the high steel price slowed down the revival pace in April.
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.
Tiếng Việt
普通话
