Dec 16: StoxPlus Morning Brief

Macro Economy

• Vietnam’s FDI Disbursement Pace Remains Weak Due To Low Capital Absorption: Experts
  Vietnam has a high volume of registered foreign direct investment (FDI) capital but the disbursement pace remains weak due to the country’s low capital absorbing capacity.

• M&A Deals In Vietnam Consumption Sector Reaches $1Bln In 2011
  Merger and Acquisition (M&A) deals in the Vietnam’s consumption sector is estimated to surge to $1 billion in 2011, accounting for 25% of the country’s total M&A value.

• Vietnam Rice Exports Expected To Slowdown Next Year
  The government rice export management group foresees that next year rice exports will not be as high as this year but will still be good, ensuring that farmers profit by 30% or even more.

• Roubini: Vietnam Outlook: At the Edge of a Precipice
  Roubini Global Economics on Dec 13 released its Global Economic Outlook, in which its RGE Economic Research Team warned that Vietnam is likely to face increasing bad debts, lower growth rates, widened deficits and weaker domestic currency.

• Vietnam Drops 4 Ranks in Global Financial Development Index 2011
  World Economic Forum (WEF) today announced the Global Financial Development Report 2011, in which Vietnam fell four spots to 50th place out of 60 countries and territories covered in the Financial Development Index.

• Vietnam C.Bank Must Ask for Opinions of Government Office on Draft Circulars
  The State Bank of Vietnam must ask for opinions of the government office on its draft circulars, the central bank said in its latest Circular No. 38/2011/TT-NHNN on Dec 13.

• Vietnam Focuses On Environment In Foreign Investment Strategy
  Vietnam will make environmental protection a priority when considering future foreign direct investment projects, said Nguyen The Phuong, deputy minister at the Ministry of Planning and Investment.

Market News

• Correction: Vietnam Equity Partners Fund Launches in Vietnam to Fund Listed Companies
  As previously announced on November 29, 2011, Cayman Islands based Equity Partners Fund SPC has established a new segregated portfolio which will conduct business under the name Vietnam Equity Partners Fund to make investments into Vietnam.

• Vinh Son-Song Hinh Hydropower Hits Year-Low 1st Time In Three Months
  Vinh Son-Song Hinh Hydropower (VSH.VN), Vietnam’s 3rd largest energy company by market capitalisation, hit a 52-week low of VND7,900.0 during the day. In the last three months the stock has hit a new 52-week low once.

• Vietnam’s Equity Movers: Materials – Petroleum, FPT
  Shares of the following companies had unusual (VNINDEX) moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the close.

• Note on BIDV’s Roadshow And Meeting on Wednesday:VCSC
  We attended BIDV’s roadshow on Sunday and met with them again this afternoon, appreciated the straightforwardness and clear manner in which the BoD was able to answer investors’ questions, wrote Marc Djandji, director of research department of VCSC.

• Dec 15: Foreigners Net Buy On Both HOSE and HNX
  Foreigners changed to be net buyers on both HOSE and HNX on Thursday. Trading volume surged for a fourth consecutive day.

Corporate Events

·         CMT – Record date for ballot 16/12/2011

·         CMT – Cash Dividend 16/12/2011

·         DBC – Cash Dividend 16/12/2011

·         HMH – Cash Dividend 16/12/2011

·         KMT – Cash Dividend 16/12/2011

·         PVR – Treasury Stocks 16/12/2011

·         SCR – Record date for ballot 16/12/2011

·         SBT – Treasury Stocks 16/12/2011

·         SSF – Cash Dividend 16/12/2011

·         TCO – Listing Suspension 16/12/2011

·         VFG – Annual General Meeting 16/12/2011

·         VFG – Cash Dividend 16/12/2011