19
October
On Oct 16th, MWG briefly announced to launch the new chain name TopZone, specializing in Apple products. The management expected to expand up to 50 AAR stores and 10 APR stores as of end-1Q22F.
19
October
This monthly report on Nam Kim is intended to track the operational developments in the steel market. On Sep, NKG steel sale volume increased 13.1% mom (102,796 tonnes), bringing 9M21 growth to 57.9% yoy (797,614 tonnes). We observe that only export saw positive sale volume growth of 2.0% mom. The local demand was sluggish (-100.4% mom).
28
September
Total August sales volume posted 166,645 tonnes, decreased by 4.4% yoy, 11.3% mom. The total sale volume in 11 months (Oct20 – Aug21) came in at 2,086,316 tonnes, +45% yoy backed by the steel coat volume growth of 50.6% yoy to 1,636,793 tonnes and the steel pipes growth of 27.8% yoy to 449,491 tonnes.
21
September
Total August steel sales volume posted 90,879 tonnes, increasing by 9.9% mom and 29.1% yoy. The domestic market continued to contribute minor impact to total sales volume.
21
September
The August sales volume remained unchanged comparing on mom basis but went up by 85% yoy to 10,167 tonnes. - The domestic sale market contributed a major impact to total coated steel sales volume (98.5%) with 9,683 tonnes ( +101% yoy).
15
September
On Sep 14, VSC acquired a 36.0% stake in VIMC Dinh Vu Port JSC, pending the information of the total deal value and the sellers. Vinalines Dinh Vu port was developed on a 21-hectare land plot in Dinh Vu – Cat Hai economic zone. For 8M21, VSC announced its earnings results with revenue of VND1,254bn and PBT of VND319bn, complete 74.0% and 95.0% of the 2021 business plan, respectively.
14
September
The Jul sales volume slowed down comparing mom basis but went up on yoy. In detail, total Jul steel sales volume posted 82,665 tonnes, increased by 22.6% yoy but plunged 18.9% mom. Steel coat volume made up most of the July sale (91.3%) at 75,483 tonnes, +46.8% yoy but -15.6% mom. The exported steel coat volume (61,950 tonnes) performed splendidly +75.1% yoy even experienced a slight decrease of 2.4% mom in July.
07
September
In Jul 2021, HSG recorded a VND302bn net profit, +124% yoy thanks to double revenue growth of 97% yoy to VND4,921bn. The results in 10 months were far exceeding with revenue and NPAT were VND37.8tn (+75% yoy) and VND3.6tn (+339% yoy), completing 115%/245% of the company’s guidance.
30
July
Vingroup reported its stunning 2Q21 revenue at VND38.4tn, 64.6% yoy driven by two engines 1) property revenue grew by 62.1% yoy to VND26.8tn, 2) service contractor revenue skyrocketed by 413% yoy to VND3.8tn. In addition to a 12.5%p gross margin expansion, gross profit surged by 205.3% to VND10.4tn. Hence, operating profit bounced to a positive VND2.7tn in 2Q21 even the SG&A spiked by 103.8% due to more aggressive industrial sales.
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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