Jan 31: StoxPlus Morning Brief

31/01/2012

Macro economy

· Vietnam Retail and Services Revenues Increase 3.2% In Jan 2012
Vietnam is estimated to collect VND191 trillion from retail and services sector in Jan 2012, up 3.2% from December 2011 and up 22% on year, the Ministry of Industry and Trade (MoIT) said.

· Vietnam Inflation Slows to 17.27 pct, Supporting Case For Rate Cuts
Vietnam’s inflation slowed for a fifth month in January, giving the central bank more room to cut interest rates as a deteriorating global economy dims the outlook for exports.

· January Exports Reach US$6.5 Billion
Vietnam earned US$6.5 billion in exports in January, down by 28.5 percent from last December and 11.1 percent for the same period last year, said the Ministry of Industry and Trade.

· Hanoi Industrial Production Plunges By 14% MoM In January 2012
Industrial Production Index of Hanoi capital in January 2012 fell by 14% and 1% on month and on year, respectively, the General Statistics Office (GSO) of Hanoi said.

· Deposit Interest Rates May Fall to 10% p.a. at end-2012: SBV Governor
Deposit interest rates in the banking sector are likely to fall to 10% p.a. by the end of 2012 if inflation is curbed at 8-8.5%, Governor of the State Bank of Vietnam (SBV), Nguyen Van Binh, said in an interview posted on the SBV’s website on Jan 30.

· Vietnam Central Bank to Mobilize Gold Through Credit Institutions: SBV Governor
In the coming time, the State Bank of Vietnam (SBV) will submit to the government the Plan to mobilize gold from local people, which says that the SBV will mobilize gold through credit institutions.

· SBV Governor Says It’s Necessary to Classify Credit Institutions
In order to restructure the banking system, credit institutions must firstly be assessed and classified into groups of “healthy”, “temporary lack of liquidity” and “weak”.

· Vietnam Will Not Let Any Bank Collapse, Central Banker Says
The State Bank of Vietnam (SBV) will not let any bank collapse as its failure will have severe knock-on effects on other credit institutions and the whole economy.

Market News

· Vietnam’s Stock Market Attractive to Investors: Forbes
With its extremely cheap stocks on offer, Vietnam, rather than Indonesia, will be a great place to invest in this year, according to Forbes Magazine.

· HOSE Announces 30 Stocks on VN30
The Hochiminh Stock Exchange announced 30 stocks in the VN30 index and 10 stand-by ones as follows:

· SCIC Plans to Invest VND4 trillion in 2012
The State Capital Investment Corporation (SCIC) planned to invest VND4 trillion in 2012, state-run online newspaper VnEconomy quoted SCIC’s representative as saying at a year-end meeting.

· HOSE Chairman: “ Stock Market Still Has Many Difficulties in 2012”
There will still be many difficulties for Vietnam stock market in the year 2012 as it takes time for macro economy to have positive changes as a result of government’s stabilization policies.

· Jan 30: Foreigners Net Buy On Both HOSE and HNX
Foreigners kicked off the opening session of the new Lunar Year in the position of net buyers on both HOSE and HNX on Monday. Level of participation plunged.

Corporate Events

· SD5 – Record date for ballot 31/01/2012

· SFI – Record date for ballot 31/01/2012

· VSP – Annual General Meeting 31/01/2012

Corporate News

· BMP: Makes VND81Bln Net Profit in Q4/2011, up 10%

· CNG: Q4/2011 Net Profit Reaches VND24Bln, down 47%

· DRC: Makes VND59Bln Net Profit in Q4/2011, down 38%

· DHG: Net Profit Falls 11% to VND122Bln in Q4/2011

· DXG: Swings to VND16Bln Net Loss in Q4/2011

· DXV: Net Profit Plunges 91% to VND2Bln in Q4/2011

· CCL: Net Profit Falls 86% to VND2Bln in Q4/2011