21
September
TCM posted impressive business results in August with revenue of USD19.4mn (+85% yoy) and NPAT of USD1.37mn (versus a loss of USD0.28mn in August 2021). Overall, in 8M22, the company achieved USD127.7mn (+20% yoy) in revenue and USD8.1mn in NPAT (+48% yoy), fulfilling 72% and 75% of its 2022F guidance, respectively.
21
September
Last year, PNJ experienced the worst earning month in August 2021. Thus, PNJ’s net revenue in August 2022 rocketed by 1,057% yoy to VND2.3tn. Net profit in August 2022 remained stable mom at VND79bn (vs loss of VND78 in August 2021). Accumulating 8M22, revenue surged by 88% yoy to VND23tn, and NPAT shoot up by +99% yoy to VND1,246bn, correspondingly fulfilling 89.2% and 94.4% of guidance.
21
September
Decree 65/2022/ND-CP on amending and supplementing Decree 153/2020/ND-CP on private placement of corporate bonds was issued on September 16, 2022. With the aim to develop the corporate bond market in a sustainable and long-term direction, the changes in Decree 65 are expected to remove the tie towards the issuer as well as protect investors from the risk in bond investment.
20
September
FPT released August business results with VND3.8tn revenue (+35% yoy), and VND739bn PBT (+28% yoy). For 8M22, the company recorded revenue of VND27,1tn (+24% yoy) and PBT of VND5,0tn (+23.6% yoy), fulfilling 64% and 65% of its 2022 guidance, respectively. Particularly, the technology segment still strengthens its position with revenue of VND15.5tn (+24.1% yoy) and PBT of VND 2.3tn (+25% yoy).
19
September
TNG posted August revenue of VND697bn (+21% yoy) and NPAT of VND37.6bn (+31% yoy) thanks to increased orders from key export markets, including the US and EU. Overall, in 8M22, the company recorded revenue of VND4,705bn (+33% yoy) and NPAT of VND204bn (+44% yoy), fulfilling 78% and 73% of its 2022F guidance, respectively.
16
September
In Aug, total fertilizer export volume was 117,973 tonnes (+5% mom and +81% yoy), equivalent to USD71mn (-5% mom and +173% yoy). In contrast, the export price declined by 10% mom to reach USD602/tonne. Vietnam imported 246,015 tonnes (+46% mom and -100% yoy) of fertilizer in Aug, equivalent to USD113mn (+69% mom and -99% you). We estimate the gas input price in Aug was USD270/tonne (-2% mom and +21% yoy). Until mid-Sep, the average gas price is USD241/tonne, down 11% vs the Aug level.
16
September
We witnessed the slump in performance of FY11M2022 on year-on-year basis caused by weak sales volume in first 8 months of 2022, which showed a significant drop in demand from both domestic and export channels.
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
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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