Can Don Hydro Power Weakens 2.1%, P/E Improves to 3.0

Compared with the VN index, which fell 1.6 points (or 0.4%) on the day, this was a relative price change of -1.6%.

Volatility: the stock traded between an intraday low of VND9,500.0 and a high of VND9,700.0, suggesting a trading opportunity between peaks and troughs. The average daily volatility of 2.4% places the stock in the 4th quartile in the market meaning it is least volatile.

Volume: there were 40,990 shares worth VND389.4 million (US$18,512.2) traded. The volume was 5.1 times average trading of 8,077 shares.

% Discount to high: the last price is at a discount of 28.6% to the 12-month high of VND13,300.0 eleven months ago on 14 Feb, 2011.

% Premium to low: the last price is at a premium of 13.1% to the 12-month low of VND8,400.0 two months ago on 16 Nov, 2011.

Volume weighted price (VWP): the price is at a premium of 1.4% to the 1-month volume weighted average price (VWP) of VND9,365.797. Given that this premium has exceeded 1.4% sixty-one times and been under 1.4% forty-two times in the last year, the upside:downside probability is estimated at 61:42 or 1.5:1.

Beta: The Beta of this stock is 0.53. A Beta lower than 1 suggests this is a low risk, low return stock with volatility less than that of the market.

Standard Deviation (SD): SD is a statistical measure of deviation from the mean. The SD of 2.1% gives it a percentile rank of 13 meaning that 13% of stocks in the Vietnam market are less volatile than this stock.

Trailing month: in the last 21 trading sessions there has been a net rise of 3.26%; the stock has advanced 17 times and the biggest one day rise was 2.2% on Dec 05.

PRICE PERFORMANCE RANK IN INDEX AND SECTORS

The stock is in 1 index and 2 sectors.

The following index and sectors fell setting the trend for its fall of 2.1%:

Energy sector of 16 stocks traded today, which was down 3.4 points or 1.8% to 188.2,

The Total Vietnam Market of 259 stocks traded today, which was down 2.8 points or 1.0% to 287.8,

VN index of 162 stocks traded today, which was down 1.6 points or 0.4% to 350.0

RELATIVE VALUATION INDICATORS [RVI] FUNDAMENTAL ANALYSIS

The stock meets the following value criterion set by Benjamin Graham:

-“An earnings-to-price yield of at least twice the triple-A bond”; the stock’s earning yield of 32.8% is 2.62 times the triple-A bond yield of 12.5%.

-“A dividend yield of at least two-thirds the triple-A bond yield”; the stock’s dividend yield is 1.26 times the triple-A bond yield of 12.5%.

Other Bullish Signals:

– Price/Earnings of 3.0 versus sector average of 4.8 and market average of 4.9.

– The Price to Book of 0.8 lower than average of 0.9 for the Energy sector.

– Dividend Yield of 15.8% (based on trailing 12 months dividends of VND1,500.0) versus sector average of 8.7% and market average of 3.3%. The company paid out a dividend of VND1,500.0 in the past 12 months. The 10-year bond yield is currently 12.5%.

– The P/E of 3.0 multiplied by the P/NTA of 0.8 is 2.3. Being less than the Benjamin Graham benchmark of 22.5 the stock appears undervalued.

Bearish Signals:

– Price/Sales of 1.21 versus sector average of 0.7 and market average of 1.0.

RELATIVE VALUATION INDICATORS [RVI] TECHNICAL ANALYSIS

Bullish Signals:

– The price added 3.3% in the last week and 3.3% in the last month.

– This has been propped up by robust volume of 2.0 times average for the week and by firm volume 1.5 times average for the month.

– Compared with the VN index which rose 0.6% for the week, this represented a relative price increase of 2.6% for the week.

– In the Vietnam market of 259 stocks traded today, the stock has a 6-month relative strength of 81 which means it is beating 81% of the market.

– The price to 50-day EMAP ratio is 1.01, a bullish indicator. The 50-day EMAP has increased to VND9,424.633. An increase is another bullish indicator.

– The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) minus the 26-day EMA is positive suggesting a bullish signal. Both the 12-day EMA as well as the 26-day EMA are rising, another bullish signal.

Bearish Signals:

– In the last three months the stock has hit a new 52-week low twice.

– In the past 200 days this ratio has been under 0.95 179 times suggesting downside. The 50-day MAP of VND9,304.0 is lower than the 200-day MAP of VND9,967.395, a bearish indicator. The 200-day MAP has decreased to VND9,967.395. A decrease is another bearish indicator.

SHAREHOLDER RETURNS

Trailing one week: the stock rose three times (60% of the time) and fell twice (40% of the time). The volume was 2.0 times average trading of 40,385 shares. The value of VND1,000 [vs VND1,007 for the VN index] invested a week ago is unchanged.

Trailing one month: the stock rose eight times (38% of the time), was unchanged six times (29% of the time), fell six times (29% of the time) and was untraded once (5% of the time). The volume was 1.5 times average trading of 177,694 shares. The value of VND1,000 invested a month ago is VND1,033 [vs VND913 for the VN index], for a capital gain of VND33(or rise of 3.3%).

Trailing one year: the value of VND1,000 invested one year ago is VND827 [vs VND750 for the VN index], including a capital loss of VND269 and dividend reinvested of VND96. The total return to shareholders for 1 year is -17.3%.

FUNDAMENTALS

ISSUED CAPITAL

Based on 35,879,000 issued equity shares the market capitalisation is VND340.9 billion (US$16.2 million).

ACTIVITIES

Can Don Hydro Power JSC is a Vietnam based electric utilities company that generates and trades electric power as well as offers construction and installation services for hydroelectric, irrigation, civil and industrial works.

TOP MANAGEMENT

The chairman is Tap Khac Pham.

BUSINESS NEWS ROUND UP

The last 5 company announcements are:

October 25: SJD: Explanation for business results in quarter 3/2011

[News Story] Can Don Hydro Power Joint Stock Company (CAN DON HSC) has explained business result in quarter 3/2011 beside quarter 3/2010 as follows:Revenue in quarter 3/2011 was higher than that in the same period last year because flow towards lakes increased. Source: HoChiMinh Stock Exchange

October 04: Can Don Hydro Power recommends dividend

Can Don Hydro Power today announced a cash dividend of VND1,500.0 per share. The ex dividend date is October 17, 2011 and the record date is October 19, 2011 and it is payable on October 28, 2011.

April 19: Can Don Hydro Power appoints Director

Can Don Hydro Power has appointed Pham Hoang Viet as a Director. The effective date is April 15, 2011.

March 07, 2011: SJD: The record date for the 2011 annual shareholders meeting

HOSE announces the record date for the 2011 annual shareholders’ meeting of Can Don Hydro Power Joint Stock Company as follows:* Stock symbol : SJD * Stock type : Common stock * Par value : VND10,000 * Ex-right date : March 14, 2011(In case of put-through trading with volume from 100,000 shares and over on March 14 & 15, 2011, sellers will not receive the right)* Record date : March 16, 2011 * Meeting time : announcing later * Venue : announcing later Source: Hochiminh Stock Exchange

January 26, 2011: SJD: Explanation for business result in Quarter 4/2010

[News Story] Can Don Hydro Power Joint Stock Company explained the fluctuation in business result between Quarter 4/2010 and Quarter 4/2009:Revenue in Quarter 4/2010 was lower than Quarter 4/2009 because water flow into lakes was low and made the production of electricity down.

Currency Conversion:Currency Conversion: US$1=21,035.0 Vietnamese Dong (VND). VND1 = 10Hao.