May 11: toxPlus Morning Brief

Macro Economy

• ESCAP Forecasts Vietnam GDP to Rise 5.8% in 2012
  The United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) forecasts that Vietnam can expand its economy by 5.8% this year, compared to the government’s target of 6.0-6.5%, the state-run online newspaper Vietnam Plus reported.

• Vietnam Credit Growth Falls 1.71% by Mid-Apr: NFSC
  Vietnam’s credit growth slid 1.71% by April 16 from late December last year, posing a huge challenge for the country’s economic expansion and macroeconomic stability, said the National Finance Supervision Committee (NFSC).

• Manufacturing Slows Slightly During April
  HSBC Vietnam yesterday released for the first time its April Vietnam PMI saying the index slightly declined to 49.5 in April from 50 in March.

• Vietnam to Tone Down Public Investment Funding
  At the 8th session of the 13th Standing Committee meeting of the National Assembly in Hanoi on May 5, it was discussed that even though public investment funding on construction projects had increased, he results were far from effective.

• Vietnam Aims to Cut Lending Rates “Quickly” on Decelerating CPI: Govt
  Vietnam government has recently issued Resolution No. 12/NQ-CP, asking the State Bank of Vietnam (SBV) to accelerate cutting lending rates in accordance with slower pace of price hike, the state-run online newspaper Chinhphu.vn reported.

Market News

• Vietnam Central Bank Aims to Promote Listing of Banking Shares: Governor
  e State Bank of Vietnam (SBV) seeks to promote listing of banking shares as part of a broader solution package to improve quality of the banking sector, SBV Governor Nguyen Van Binh said in an interview yesterday.

• Rules to Lure Foreign Investment in Market
  Changes have been made to attract foreign investors into Vietnam’s equity market.

• Vietnam Equity Movers: Hoa Binh Rubber, Licogi 16, Vietcombank
  Shares of the following companies had unusual moves in Vietnam trading.

• May 10: Foreigners Turn Net Sellers on Both Bourses
  Foreigners changed to net sellers of Vietnamese shares on both HOSE and HNX to take profit.

Corporate Events

·         BRC – Annual General Meeting 11/05/2012

·         EVE – Share Issue 11/05/2012

·         EVE – Cash Dividend 11/05/2012

·         HBC – additional listing 11/05/2012

·         TMS – Cash Dividend 11/05/2012

·         MCV – Listing Suspension 11/05/2012

·         TMS – Annual General Meeting 11/05/2012

·         VSI – Annual General Meeting 11/05/2012

·         VIP – Cash Dividend 11/05/2012

·         KHP – Cash Dividend 11/05/2012

·         PXL – Annual General Meeting 11/05/2012

·         DLC – Cash Dividend 11/05/2012

·         BTG – Cash Dividend 11/05/2012

·         ICF – Annual General Meeting 11/05/2012

·         TST – Annual General Meeting 11/05/2012

·         GTA – Cash Dividend 11/05/2012

·         KSB – Cash Dividend 11/05/2012

• SBS – Annual General Meeting 11/05/2012

Corporate News

• SMC: Reports VND9Bln Consolidated Net Profit in April


• ECI: Earns VND435Mln Net Profit in Q1/2012


• PJC: Earns VND2.4Bln Net Profit in Q1/2012


• LTC: Makes VND177Mln Net Profit in Q1/2012


• HNM: Posts Narrower Net Loss at VND989Mln in Q1/2012


• BMI: Consolidated Net Profit Falls 31% to VND36Bln in Q1/2012


• B82: Q1/2012 Net Profit Falls 40% to VND702Mln


• DTC: Swings to VND20.5Bln Net Loss in Q1/2012


• TPC: Consolidated Net Profit Reaches VND11Bln in Q1/2012, up 25%


• CMG: Posts 66% Lower Net Profit in Q4/2011-2012


• EID: Targets VND37.6Bln Pretax Profit in 2012


• VHG: Targets No Profit in 2012