Dec 12: StoxPlus Morning Brief

Macro economy

• Vietnam’s SOEs Make Sacrifice in Inflation Fight: PM Dung
  Some of the losses that state-owned enterprises incurred were due to their attempts to keep prices stable and to rein in inflation, Prime Minister Nguyen Tan Dung said Thursday.

• Ho Chi Minh Targets GDP Growth From 10%, PI At $3,600 In 2012
  Ho Chi Minh city (HCMC) targets to reach Gross Domestic Product (GDP) growth at 10% plus, and average personal income (PI) at $3,600 in 2012, according to local newswire VnExpress.

• Equitization – Core of State-sector Restructuring
  Boosting equitization of State-owned enterprises (SOE) and divesting State stakes in those less important State-turned-shareholding firms will be the core of the restructuring program, a senior official said on Wednesday.

• MoIT Propose to Remove “Temporary Import for Re-export”
  Ministry of Industry and Trade (MoIT) is going to propose the government to eliminate the “temporary import for re-export”.

• Vietnam Bank M&A Offers Huge Opportunity for Foreign Banks
  Merger and acquisition (M&A) activity among commercial banks in Vietnam is expected to “boom” from now until 2015, which presents an opportunity for foreign banks to increase their market shares in Vietnam, the local online newspaper Dau Tu reported.

Market News

• Jan-Nov: Vietnam Treasury Sells VND65Tln Government Bonds
  The State Treasury in 11M/2011 successfully raised VND65.180,3 trillion worth of government bonds, fulfilling 81.47% of the year-target, the state-run online newspaper Hanoi Moi reported, citing the Ministry of Finance’s data.

• Market Strategy – Diamonds in the Rough: VCSC
  Is it really all doom and gloom? Sure, the VNIndex has lost 20% year-to-date and the HNIndex a whopping 46%, VCSC wrote in a note to client December 8. The following is taken from the note:

• Weekly: Thac Ba Hydropower Price 13.2% Below Volume Weighted Price
  Thac Ba Hydropower (TBC.VN), Vietnam’s 4th largest Energy company by market capitalisation, rose VND100.0 (or 1.0%) to VND9,700.0 in the week ending Friday December 09, ending a four-week streak of losses.

• Vietnam Stock Movers: HAGL, Saovang Rubber, Southern Rubber
  Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses, and prices are as of the 11 a.m. local-time close.

• Vietnam Stocks: Danang Rubber, Phu Nhuan Jewelry, Sao Ta Foods
  Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses, and prices are as of the 11 a.m. local-time close.

• Dec 9: Foreigners Net Sell On HOSE, Net Buy on HNX
  Foreigners continued to be sellers on the primary bourse HOSE and rebounded to be net buyers on HNX on Friday.

Corporate Events

·         BT6 – Cash Dividend 12/12/2011

·         CMT – Treasury Stocks 12/12/2011

·         FDC – Cash Dividend 12/12/2011

·         MAS – Cash Dividend 12/12/2011

·         NHN – Record date for ballot 12/12/2011

·         NOS – Record date for ballot 12/12/2011

·         PAC – Cash Dividend 12/12/2011

·         PVX – Share Issue 12/12/2011

·         SAV – Treasury Stocks 12/12/2011

·         TMT – Annual General Meeting 12/12/2011

·         TIC – Treasury Stocks 12/12/2011

·         VCG – Extraordinary General Meeting 12/12/2011

Corporate News

• ACL: to Hold 2011 EGM Dec 29


• CII: Sells 49% Stake in BOO Thu Duc Water Co.


• DMC: to Sell all 305,817 Treasury Shares


• MPC: Posts 37% Export Turnover Increase in 11M/2011


• PVI: Posts VND5.1Tln Revenue Early Dec, Surpassing 6% Year Target


• VSP: Sets up Subsidiary in Hanoi


• VNI: Sets up Phuoc Long Service Trade Investment