Jan 19 : StoxPlus Morning Brief

19/01/2012

Macro economy

· HSBC Forecasts Vietnam GDP to Rise By 5.7% In 2012
Vietnam is forecast to have GDP growth rate of 5.7% in 2012, compared to the government’s target of 6.0-6.5%, HSBC Global Economics Research Team wrote in its Macro Asian Economics Q1/2012.

· Interest Rates Likely to Fall to 9% p.a. at End-2012: HSBC
The State Bank of Vietnam (SBV) is likely to trim down interest rate from 14% per annum to 13% p.a. in the first quarter and further reducing it to 9% p.a. by the end of this year.

· NFSC Chairman Suggests Injecting Cash to Help Improve Bank Liquidity; Lower Interest Rates
Vu Viet Ngoan, Chairman of the National Finance Supervision Committee (NFSC), recommended the State Bank of Vietnam (SBV) should inject cash to support liquidity for local banks, the local online newspaper Dantri.com.vn reported.

· Vietnamese Dong Rises to One-Month High on Inflation Outlook
Vietnam’s dong advanced to its strongest level in a month after the central bank said inflation would slow. Government bonds were steady.

· CBRE Releases Market Review For Vietnam 2011
CBRE Vietnam recently released their market review for Vietnam 2011.

· Shipping Volume Rises Despite Economic Woes
A Ministry of Transport official said the tough economic conditions did not affect the cargo transport volume of Vietnam’s ship fleet last year as it still grew by 8% versus the previous year.

Market News

· SCIC Fulfills 45% Revenue Target in 2011
State Capital Investment Corporation (SCIC) generated a revenue of of VND254 billion in 2011, meeting 45% of the year target and fall 30% from 2010, the Dau Tu Chung Khoan reported, citing SCIC’s data.

· Vietnam Plans to Run Single National Stock Exchange from Q2/2012
Vietnam plans to run only one national stock exchange which is scheduled to establish in Q2/2012 under the proposal of restructuring local stock market.

· Vietnam’s Stocks: DIC Investment, Chuong Duong Corp., Kim Long
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.

· Jan 18: Foreigners Net Buy On Both HOSE and HNX
Foreigners were net buyers on both HOSE and HNX on Wednesday. Level of participation fell.

Corporate Events

· DHI – additional listing 19/01/2012

· HOT – Cash Dividend 19/01/2012

· SPD – Share Issue 19/01/2012

· SVI – Cash Dividend 19/01/2012

· SVI – Annual General Meeting 19/01/2012

SMC – additional listing 19/01/2012

Corporate News

· BBC: Net Profit Falls 16% to VND22Bln in Q4/2011

· DIC: Earns VND18Bln Net Profit in 2011, Meeting 61% Year Plan

· DPR: Posts VND846Bln Net Profit in 2011