Dec 7: StoxPlus Morning Brief

Macro economy

• ADB Forecasts Vietnam’s Economic Growth at +5.8% in 2011 and +6.3% in 2012
  Vietnam’ economic growth is forecast to rise 5.8% in 2011 and 6.3% in 2012, the Asian Development Bank(ADB) said on its Asia Economic Monitor Report released today.

• Vietnam GDP Likely to Reach $119Bln In 2011
  Vietnam Gross Domestic Product is likely to increase to $119 billion in 2011 and the country’s personal capital income is expected at $1,300/year, the Minister of Industry and Trade Vu Huy Hoang told the local newspaper Tuoi Tre (Youth).

• Vietnam State Budget Deficit Surpasses VND60.4Tln In Jan-Nov
  Vietnam is estimated to run a state budget deficit of VND60.44 trillion in Jan-November, meeting 54.2% the year target set by the National Assembly, the Ministry of Finance ( MoF) said.

• FDI in Real Estate Set to Register Five-Year Low
  Foreign direct investment (FDI) in the Vietnamese real estate market this year is expected to be the lowest in five years.

• Vietnam Likely to Incur $10Bln Trade Deficit In 2011
  Vietnam is likely to incur a trade deficit of $10 billion in 2011, the Minister of Industry and Trade Vu Huy Hoang told the local newspaper Tuoi Tre (Youth).

• Inbound Remittance to Vietnam Estimated at $9 Billion in 2011
  Vietnam is estimated to see $9 billion inbound remittance this year, being one of the countries receiving highest remittance, said the World Bank in a recent report.

• Cutting Deposit Rate Requires Care: Former Governor
  The central bank is considering an appropriate time for a possible rate cut.

• Credit Limit Reshuffled
  The State Bank is to offer foreign bankers a much needed carrot next year when it recalibrates lending limits to torpedo a one-size-fits-all policy.

• Donors Urge Vietnam To Speed Up Economic Reforms
  International donors on Tuesday urged Vietnam to accelerate efforts to restructure its economy and warned the communist country to improve its rights record or risk jeopardising its economic success.

• Vietnam’s Electricity Production Up 12.1%
  Ministry of Industry and Trade (MoIT)’s report at the November meeting session in the morning December 5 showed that the electricity production in November was estimated at 8.6 billion kWh, up 12.1% compared to November 2010.

• MoIT Proposes to Increase Commission for Petroleum Agencies
  The Ministry of Industry and Trade (MoIT) has sent official document to the Ministry of Finance (MoF) proposing to raise the commission for the petroleum agencies, the Mister of MoIT Vu Huy Hoang said at his ministry’s hand-over meeting on Dec 5.

Market News

• Emerging Market Investors Should Not Overlook Vietnam
  Most investors know all about the headline-grabbing BRIC countries – Brazil, Russia, India and China. But there’s a tendency to overlook the investment possibilities in smaller emerging nations. One such emerging market is Vietnam.

• Brokers Expect Rally to Continue This Week
  Although the market suffered another bleak week with low liquidity last week, securities firms expected last Friday’s rebound would continue, citing positive signs of the economy.

• Brokers in Financial Distress Face Suspension
  Stock market authorities will suspend member securities firms plagued with financial problems or violations of regulations on report submissions, transactions or payments, said Vu Bang, chairman of the State Securities Commission (SSC).

• Vinh Son-Song Hinh Hydropower Drops 4.5% on High Volatility
  Vinh Son-Song Hinh Hydropower (VSH.VN), Vietnam’s 3rd largest energy company by market capitalisation, traded between an intraday low of VND10,600 and a high of VND11,100.0, suggesting a trading opportunity between peaks and troughs.

• iShares Plans Frontier Version Of EEM, One ETF Focusing on Vietnam
  iShares, the world’s largest ETF firm, is looking to repeat the success it’s had with its MSCI Emerging Markets Index Fund (NYSEArca: EEM) with the launch of two frontier-market ETFs: one global in scope, the other focused on Vietnam.

• Vietnam BIDV Announces Its IPO Start-Bid Price at VND18,500/Share
  Bank for Investment and Development of Vietnam (BIDV) announced its initial public offering (IPO) initial price at VND18,500/share ($0.88), valued the lender at VND522,643.5 billion or $24.89 billion.

• Vietnam Securities Firm SME Falls into Insolvency Again
  Local state-run online newspaper said some investors and securities companies reported that their selling orders have been cancelled due to buying orders from Small and Medium Enterprise Securities company (SME) were rejected.

• Dec 6: Foreigners Change to Net Buy On Both HOSE And HNX
  Foreigners turned to be net buyers on both HOSE and HNX today. Level of participation slightly increased.

Corporate Events

·         AAM – Cash Dividend 07/12/2011

·         AVF – Record date for ballot 07/12/2011

·         CTS – Record date for ballot 07/12/2011

·         EVE – Treasury Stocks 07/12/2011

·         FDT – Cash Dividend 07/12/2011

·         HHC – Cash Dividend 07/12/2011

·         HMH – Record date for ballot 07/12/2011

·         HRC – Cash Dividend 07/12/2011

·         MBB – Cash Dividend 07/12/2011

·         NIS – Cash Dividend 07/12/2011

·         PTL – Cash Dividend 07/12/2011

·         TMC – Cash Dividend 07/12/2011

·         TMC – Share Issue 07/12/2011

·         TIX – Cash Dividend 07/12/2011

·         TIX – Annual General Meeting 07/12/2011

·         SHN – Treasury Stocks 07/12/2011

·         STB – additional listing 07/12/2011

Corporate News

• CFC: Buys 9,400 Treasury Shares


• HTI: Establishes New Branch


• NHN: Major Shareholder to Sell all 14Mln Shares


• ICI: Adjusts VND6Bln Net Profit Target in 2011


• PPC: Targets 430.8Bln Pre-tax Profit in 2012


• PVD: Buys 173,050 Treasury Shares


• PXI: Adjusts 2011 Business Targets


• PVI: Plans to Double Treasury Shares to 10Mln Units


• PDR: to Transfer all 95.24% Stake in Phat Dat Quang Ngai Tourism and Hotel Area JSC


• SBS: Closes Tay Do Branch


• SCO: Cuts 2011 Net Profit Target to VND7.5Bln


• TIC: to Buy 200,000 Treasury Shares


• TTF: to Move Factory to Tan Uyen – Binh Duong