May 10: StoxPlus Morning Brief

10/05/2012

Macro Economy

· New FDI to Ho Chi Minh City Tumbles By 94%YoY in Jan-Apr
Ho Chi Minh city has granted new investment certificates for 113 foreign direct investment (FDI) projects worth $77.7 million in the first 4 months of this year, rising 5.6% year on year in quantity but falling 94% in value.

· 18,000 Vietnam Firms Go Bankruptcy or Suspend Operation in 4M/2012
Vietnam recorded around 18,000 enterprises go bankruptcy or suspend their operation in the first four months this year, up 9.5% on year, the Ministry of Planning and Investment (MoPI) said in its report at the Government’s regular meeting in April.

· Deposit Rate Cap May Be Removed in Q4: Expert
The cap on dong deposit interest rates are likely to be abolished in the fourth quarter of this year, Nguyen Tri Hieu said in an interview with the local online newspaper Dau Tu (“Investment News”).

· Interest Rates Likely to Be Lowered in Late May: Expert
Interest rates will likely be cut further in late May or early June on decelerating inflation and improved bank liquidity, said Vo Tri Thanh, vice head of Central Institute for Economic Management.

· Vietnam Banks to Decide on Specific Criteria for Lending at 15% p.a.
Not every business in four prioritized industries can gain access to cheaper sources of funds, the local state-run online newspaper Tuoi Tre (“Youth”) reported.

Market News

· Vietnam’s Stock Exchange Growth Ranks 2nd Globally
VN-Index, Vietnam’s benchmark stock exchange index, increased 35.5 percent in the first four months of this year, ranking second among world’s highest growth indexes, reported local online VNExpress on Tuesday.

· Investors Sniff at Shorter Settlements
While domestic stock brokerages wait on a shorter settlement period for securities transactions, some foreign investors are actually arguing against the change.

· Vietnam Equity Movers: Rang Dong Light Source, Construction 47
Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the 11:30 a.m. break in Ho Chi Minh City.

· May 9: Foreigners Net Buy on HOSE but Net Sell on HNX
Foreigners extended their position of net buyers on both HOSE but changed to be net sellers on HNX on Wednesday. Level of participation fell.

Corporate Events

· TIC – Treasury Stocks 10/05/2012

· VAT – Annual General Meeting 10/05/2012

· VMC – Cash Dividend 10/05/2012

· ARM – Annual General Meeting 10/05/2012

· VNH – Annual General Meeting 10/05/2012

· DAD – Treasury Stocks 10/05/2012

· TSB – Cash Dividend 10/05/2012

· CVT – Annual General Meeting 10/05/2012

· TMP – Annual General Meeting 10/05/2012

· VSG – Annual General Meeting 10/05/2012

· TSB – additional listing 10/05/2012