Mar 14: StoxPlus Morning Brief

Macro Economy

• Vietnam Forex Reserve Rises 30% by Mid-March/2012: SBV Governor
  Vietnam’s foreign exchange reserve, as of mid-March/2012, is estimated to have risen by 30% from the end of 2011, after it expanded by 50% in the previous year.

• Vietnam Central Bank Reveals Credit Growth of Negative 1.27% as of Mar 8
  Total lending by local credit institutions as of March 8 has eased 1.27% from the beginning of the year, Governor of the State Bank of Vietnam (SBV), Nguyen Van Binh, said at a press conference yesterday {March 12], citing the central bank’s data.

• Hanoi Ranks 20th Position of World’s Economic Strength: EIU Report
  Hanoi, the capital of Vietnam ranks 20th position of the global cities in term of “Economic Strength”. The Economist Intelligent Unit (EIU) said in its research report on Hot Spots-benchmarking global city competitiveness released on Mar 12.

• Lending Rates on OMO Ease to 13% p.a. from Mar 13
  Lending interest rates on the open market operations (OMO) from today [March 13] will ease 1% to 13% per annum, following the State Bank of Vietnam (SBV)’s decision to cut key rates yesterday.

• Vietnam Treasury to Auction VND4Tln Government Bonds on March 15
  The State Treasury of Vietnam will open an auction for VND4 trillion worth of government bonds for 2-year (VND1 trillion), 3-year (VND2 trillion), and 5-year (VND1 trillion) tenors at the Hanoi Stock Exchange (HNX) on March 15.

• Lending Interest Rates Can Ease to 14.5-16.6% p.a.: SBV Governor
  Lending interest rates can fall to 14.5-16.5% per annum this year on lower deposit rates and easing inflation expectations, Governor of the State Bank of Vietnam (SBV), Nguyen Van Binh, said at a press conference yesterday [March 12].

• Vietnam Bonds Gain on Speculation Banks Are Buying; Dong Stable
  Vietnam’s two-year government bonds rose the most in a week on speculation banks have more cash to invest in debt securities. The dong was stable.

Market News

• ETF Chart of the Day: Vietnam
  An equity ETF that has seen accelerated trading volume recently is Market Vectors Vietnam (NYSEArca: VNM).

• March 13: Foreigners Net Sell on HOSE, Net Buy on HNX
  Foreigners changed their position to be net sellers on the HOSE and net buyers on the smaller cap bourse HNX on Tuesday. Level of participation dropped.

Corporate Events

·         SJD – Annual General Meeting 14/03/2012

·         ONE – Annual General Meeting 14/03/2012

·         VFC – Annual General Meeting 14/03/2012

·         ACE – Annual General Meeting 14/03/2012

·         L62 – Annual General Meeting 14/03/2012

·         L14 – Annual General Meeting 14/03/2012

·         CIC – additional listing 14/03/2012

·         SJM – Annual General Meeting 14/03/2012

·         PHH – Annual General Meeting 14/03/2012

·         SDA – Annual General Meeting 14/03/2012

·         SC5 – Annual General Meeting 14/03/2012

·         PAN – Cash Dividend 14/03/2012

·         PAN – Annual General Meeting 14/03/2012

·         HDC – Annual General Meeting 14/03/2012

·         HRC – Annual General Meeting 14/03/2012

·         VNL – Cash Dividend 14/03/2012

·         VNL – Annual General Meeting 14/03/2012

·         AVF – Annual General Meeting 14/03/2012

·         AGD – Cash Dividend 14/03/2012

·         AGD – Annual General Meeting 14/03/2012

·         PSP – Annual General Meeting 14/03/2012

·         TTF – Extraordinary General Meeting 14/03/2012

·         CDC – Annual General Meeting 14/03/2012

·         KBE – Cash Dividend 14/03/2012

·         KBE – Annual General Meeting 14/03/2012

·         AVF – Annual General Meeting 14/03/2012

·         ADC – Annual General Meeting 14/03/2012

·         KCE – Annual General Meeting 14/03/2012

·         WCS – Annual General Meeting 14/03/2012

·         NVT – Annual General Meeting 14/03/2012

·         KLS – Annual General Meeting 14/03/2012

·         PAC – Annual General Meeting 14/03/2012

·         SPP – Cash Dividend 14/03/2012

·         SPP – Annual General Meeting 14/03/2012

·         VTC – Annual General Meeting 14/03/2012

·         KSB – Annual General Meeting 14/03/2012

·         CDC – Annual General Meeting 14/03/2012

• HDC – Cash Dividend 14/03/2012

Corporate News

• CSM: to Hold 2012 AGM Apr 21


• BST: to Buy 50,000 Treasury Shares


• KSD: Postpones Buying 100,000 Convertible Bonds


• LCM: Announces BOD Resolution Mar 9


• PHR: Targets VND387Bln Net Profit in 2012


• S12: Targets VND7.7Bln Pretax Profit in 2012


• RDP: Targets VND26.5Bln Pre-tax Profit in 2012, up 10%


• SMC: Posts VND4.2Bln Net Profit in Jan-Feb


• SBS: Issues VND800BLn Convertible Bonds


• TMC: Announces BOD Resolution Contents


• VNL: to Transfer all 49% Stake in Hapag-Lloyd