28
October
BSR released its 3Q22 financial statement with revenue of VND39.6tn (+123.8% yoy, -24.5% qoq) driven by solid volume and selling prices hike. However, 3Q22 NPAT dropped sharply to VND479bn (- 95% qoq, -0.5% yoy) compared to the high base of all time in 2Q22 due to lower gasoline & diesel crack spreads and a surge in inventory provision (VND656bn in 3Q22 vs VND173bn in 3Q21).
28
October
HPG’ revenue decreased 11.8% yoy to VND34,103bn in 3Q22 driven mainly by steel segment. The 3Q22 NPAT-MI posted a loss of VND1,784bn. In 3Q22, the revenue growth was negatively affected by lower average selling price (construction ASP: -10.8% qoq) and weak final-product sales volume given the low base in 3Q21 (+6.1% qoq, +8.5% yoy).
28
October
NKG’ revenue decreased significantly 41.3% yoy to VND4,424bn in 3Q22 driven mainly by the weak global demand. In which, the total export volume in 3Q22 dropped to 82,532 tonnes, -63.3% yoy, -52.4% qoq. The 3Q22 NPAT-MI posted a loss of VND418.6bn whilst the gross profit was negative.
28
October
Despite the decent growth of revenue to VND2,168bn (+73% yoy) in 3Q22, NT2’s net profit dropped 27% yoy to VND199bn mostly due to the incurring of VND187bn from bad debt provision related to receivables from EPTC. Overall, the revenue and PAT in 9M22 were VND6,863bn (+52% yoy) and VND724bn (+75% yoy) and fulfilled 84%/155% its full year guidance.
28
October
The increase in consumer spending in turn helps the economy sustain its expansion. If for some reason consumer confidence declines, consumers become less certain about their financial prospects, and they begin to spend less money; this in turn affects businesses as they begin to experience a decrease in sales.
28
October
In 3Q22, Petro Vietnam Fertilizer (DPM) recorded a decent business result vs 3Q21 but still lags behind when compared with 2Q22. DPM reported a revenue of VND3,885bn (+37.6% yoy, -22.5% qoq) and VND1,001bn NPAT (58.9% yoy, -25.2% qoq). 9M22 revenue and PBT were VND14,727bn (+91% yoy) and VND5,369bn (+200% yoy), fulfilling 85%/130% of the full-year guidance.
28
October
The rebound phase is active within the bearish market. Thus, new short position on VN30F2211 is risky, traders should stay on the sidelines and wait for the valid trading point.
28
October
In the short term, market sentiment has become optimistic because the VNIndex crosses the 1,000-pts threshold with high volume. That implies a short-term recovery. However, the bullish signal is not enough to confirm the medium-term uptrend. Therefore, traders should stay on the sideline and wait for the next signals.
27
October
In 3Q22 Vinhomes recorded the VND14.4tn NPATMI, +29.8% yoy, +28.4x qoq thanks to a VND10,923bn financial income from the bulk sale transactions in Empire and Crown projects. In addition, Empire project contributed a VND13.2tn out of VND14.4tn property revenue, prompting a VND17.8tn total revenue in 3Q22.
27
October
Strongly recovered from lockdown period, VRE’s net revenue in 3Q22 rose sharply by 154.7% yoy to VND2tn. Net profit in 3Q22 increased by 3,156% yoy to VND794bn. GPM improved significantly from 17% in 3Q21 to 52% in 3Q22 due to deduction of rental fee to support lessees during Covid-19 in 3Q21. Up to 3Q22, VRE has respectively fulfilled 65% and 81% of revenue and NPAT guidance.
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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