Mar 5: StoxPlus Morning Brief

Macro Economy

• Vietnam CPI Likely to Slow Down to 0.4-0.5% in March : Analysts
  Vietnam CPI is expected to slow down to 0.4- 0.5% in March, driven by fall in prices of food, low purchasing power and low input material costs, the market experts and analysts said.

• Prices May Spring in March on Utilities, Goods Price Hikes
  The recent adjustments in the prices of many utilities and goods will put more pressure on price levels this month.

• New Business Openings Rise In February
  New businesses brought VND30.66 trillion ($1.46 billion) in registered capital to the nation in February, up 69 per cent in value and 10 per cent in volume over January, according to the General Statistics Office (GSO).

• Vietnam Cuts Gas Import Tax To 0% From Mar 02: MoF
  Vietnam eliminated its 5% import tax for gas from March 02nd. 2012, the Ministry of Finance (MoF) said in its Circular No.37, guiding implementation of preferential import tax rates for goods in group 2711.

• Interest Rates on Gold Deposits Records New High at 4.45% p.a.
  The Saigon Commercial Bank (SCB) raised interest rates on gold deposits at the bank to as high as 4.45% per annum, the highest level of the whole banking sector, the local online newspaper DVT.vn reported.

• Vietnam Dong Unlikely to Suffer from Abrupt Devaluation in 2012: Expert
  The domestic currency, the dong, is likely to be adjusted this year, yet it will not suffer from abrupt devaluation of up to 9.3% as in early 2011.

• Vietnam Central Bank Publicizes Draft Regulation on Open Market Operations
  The State Bank of Vietnam (SBV) released the draft circular on open market operations (OMO) on its website on February 29.

Market News

• Vietnam Prime Minister Issues Directive To Boost Stock Market Development
  Vietnam’s Prime Minister Nguyen Tan Dung has ordered ministries to take steps to boost the development of the country’s stock market.

• Vietnam May Merge Stock Exchanges Next Year, Regulator Says
  Vietnam’s securities regulator will submit plans to merge the country’s two stock exchanges in an effort to improve the quality of listings after the benchmark index fell by the most among Asian equity measures last year.

• Get In On Vietnam’s Growth Story With VNM
  Ever since the Van Eck ETF Market Vectors Vietnam (VNM) went public on 14 August 2009, the stock price fell 23% to date due to slowing global economic conditions. There are two big reasons why this happened.

• Last Call For Vietnam: Buy Now Or Be Sorry
  Back in December 2011, my colleague, Karim Rahemtulla, put Vietnam on your radar. He pegged it as one of the “Top Emerging Markets for 2011.” Which has proven to be a prescient call.

• March 02: Foreigners Net Buy On HOSE And Net Sell On HNX
  Foreigners were back to be net buyers on HOSE after a single day of net sellers and they also changed to be net sellers on the HNX today. Level of participation dropped.

Corporate Events

·         PTI – Annual General Meeting 05/03/2012

·         MTP – Annual General Meeting 05/03/2012

·         SDP – Annual General Meeting 05/03/2012

·         PXS – Annual General Meeting 05/03/2012

·         SBA – Cash Dividend 05/03/2012

·         VDN – Annual General Meeting 05/03/2012

·         SBA – Annual General Meeting 05/03/2012

·         C21 – Annual General Meeting 05/03/2012

·         TV4 – Treasury Stocks 05/03/2012

·         SBA – Cash Dividend 05/03/2012

·         NNC – Annual General Meeting 05/03/2012

·         SD5 – Annual General Meeting 05/03/2012

·         HUT – Annual General Meeting 05/03/2012

·         HPP – Annual General Meeting 05/03/2012

·         GER – Annual General Meeting 05/03/2012

·         DBT – Annual General Meeting 05/03/2012

·         HOM – Annual General Meeting 05/03/2012

·         PVC – Annual General Meeting 05/03/2012

·         PHC – Annual General Meeting 05/03/2012

·         VCM – Annual General Meeting 05/03/2012

·         VCR – Annual General Meeting 05/03/2012

• SAF – Annual General Meeting 05/03/2012

Corporate News

• HLA: Targets VND34.5Bln Net Profit in 2012


• KDH: Purchases 1Mln Treasury Shares


• L62: Makes VND2.3Bln Net Profit in Q4/2011


• NDN: Sells 22,000 Treasury Shares


• SHN: Swings to VND64Bln Net Loss in 2011


• TH1: Sets up Representative Office in Dong Nai


• TH1: Targets VND34Bln Net Profit in 2012


• TSB: Raises Charter Capital to VND67.5Bln