Feb 23: StoxPlus Morning Brief

Macro Economy

• Vietnam Firms Still Face High Borrowing Costs
  Local producers still have to borrow bank loans at interest rates of 17-22% per annum though many banks have already announced their policy to cut lending interest rates to 15-17% p.a., the local online newspaper VnExpress.net reported.

• VN Will Become Asia’s Electronics Hub: HSBC
  The Hong Kong and Shanghai Banking Corporation (HSBC) has ranked Viet Nam seventh out of 10 countries seen as having the best prospects for long-term growth.

• Supermarkets Gain Hold In Vietnam
  Convenience, stable prices and consecutive promotion campaigns have helped modern retail channels attract more customers, with year-on-year turnover growth of 20-25 per cent in HCM City.

• Vietnam Central Bank Requests Reports on Loan Accessibility of Enterprises
  The State Bank of Vietnam (SBV) issued Official Dispatch No. 958/NHNN-CSTT on February 20, asking domestic commercial banks to submit reports on credit accessibility of enterprises.

• Vietnam to Cut Refinance Rate to 12% in Late Q2/2012: Standard Chartered
  The decline in headline inflation may allow the central bank to cut the refinance rate from 15% to 12% in late Q2 and to 11% in Q3/2012, said Tai Hui, Regional Head of Research, South-East Asia Region of Standard Chartered Bank.

Market News

• Vietnam Stocks: Dong Phu Rubber, Kinh Bac City Development
  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’s Stocks: Kinh Do, An Giang Fisheries, Lam Son Sugar
  Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the close in Ho Chi Minh City.

• Feb 22: Foreigners Net Buy On Both HOSE an HNX
  Foreigners were net buyers on both HOSE and HNX on Wednesday. Level of participation eased.

Corporate Events

·         ACB – Annual General Meeting 23/02/2012

·         GDT – Cash Dividend 23/02/2012

·         GDT – Annual General Meeting 23/02/2012

·         KSH – Annual General Meeting 23/02/2012

·         HDG – Annual General Meeting 23/02/2012

·         PSC – Cash Dividend 23/02/2012

·         PSC – Annual General Meeting 23/02/2012

• SDC – additional listing 23/02/2012

·         TRA – Cash Dividend 23/02/2012

·         TRA – Annual General Meeting 23/02/2012

·         TXM – Cash Dividend 23/02/2012

·         TXM – Annual General Meeting 23/02/2012

·         TVD – Share Issue 23/02/2012

·         TVD – Annual General Meeting 23/02/2012

·         TBX – Annual General Meeting 23/02/2012

·         V15 – Cash Dividend 23/02/2012

·         V15 – Annual General Meeting 23/02/2012

·         VC7 – Cash Dividend 23/02/2012

·         VC7 – Annual General Meeting 23/02/2012

·         VSC – Annual General Meeting 23/02/2012

Corporate News

• FLC: Consolidated Net Profit Jumps 86% to VND12Bln


• HPB: Earns VND10Bln Consolidated Net Profit in 2011


• HUT: Consolidated Net Profit Rises 49% to VND100Bln in 2011


• HLA: Posts VND20Bln Consolidated Net Loss in Q4/2011


• MPC: Earns $20Mln Export Turnover in Jan


• PHH: Q4/2011 Consolidated Net Profit Plunges 88% to VND945Mln


• REE: Consolidated Pre-tax Profit Rises 38% in Q4/2011 


• SGD: Makes VND4Bln Net Profit in 2011


• SCR: Consolidated Net Profit Plunges 96% to VND17Bln in 2011 


• SDH: Suffers VND748Mln Consolidated Net Loss in 2011 


• VC5: Q4/2011 Consolidated Net Profit Falls 47% to VND4Bln


• VCG: 2011 Consolidated Net Profit Rises 26% to VND585Bln


• VNR: Posts VND294Bln Consolidated Net Profit in 2011, Up 25%