May 8: StoxPlus Morning Brief

Macro Economy

• Growth Target under Threat
  Continued high inventory levels and low industrial production growth are threatening the government’s economic growth target.

• Inflation Forecast To Hit Single Digits
  Inflation eased to 10.5 per cent year-on-year in April from 14.1 per cent in March, and a monthly report from HSBC expects headline inflation to fall to a single-digit level by May.

• Vietnam Completes Equalization of Nearly 4,000 SOEs
  Vietnam has equitized a total of 3,951 state own enterprises (SOEs) by April 20th, 2012, completing 67.4% plan, the local news provider Gafin.vn reported, citing figures from Ministry of Finance (MoF).

• Vietnam Spends $4.8Bln Repaying Govt Debts Since Early 2011, Amount Seen Rising
  Vietnam has spent around VND100 trillion ($4.8 billion) on repaying government debts since the beginning of 2011, including VND29.9 trillion ($1.43 billion) in the year-to-April 15, and the amount is forecasted to rise in the coming years.

• Vietnam Aims to Cut Rates “Quickly” to Aid Firms
  The local government said it will manage the monetary policy flexibly and seek ways to trim down interest rates “quickly”, aiming to help businesses recover and maintain production, the State Bank of Vietnam (SBV) said on its official website.

• Vietnam to Cap Lending Rates at 15% p.a. for 4 Sectors
  Vietnam will cap short-term lending interest rates for four specified sectors at 15% per annum, or 3% above the current deposit rate cap from May 8, 2012, the State Bank of Vietnam (SBV) said in its latest circular released last Friday.

Market News

• Vietnam Stocks Rise Most in Asia on Tax Breaks
  Vietnam’s stocks rallied, driving the benchmark index to a one-year high, after the government said it will cut income tax, defer sales tax payments and cap lending rates to help bolster a slowing economy.

• May 7: Foreigners Continue Net Buying String on Both HOSE and HNX
  Foreigners extended their position of net buyers on both HOSE and HNX on Monday. Level of participation eased.

Corporate Events

·         NST – Cash Dividend 08/05/2012

·         DRH – Annual General Meeting 08/05/2012

·         VTF – Cash Dividend 08/05/2012

·         ST8 – Annual General Meeting 08/05/2012

·         PJT – Cash Dividend 08/05/2012

·         HQC – additional listing 08/05/2012

·         PET – Cash Dividend 08/05/2012

·         VCF – Cash Dividend 08/05/2012

·         DTC – Annual General Meeting 08/05/2012

·         PDN – Cash Dividend 08/05/2012

·         CSG – Cash Dividend 08/05/2012

·         DRH – Annual General Meeting 08/05/2012

·         S33 – Cash Dividend 08/05/2012

·         SHP – Cash Dividend 08/05/2012

·         HVT – Cash Dividend 08/05/2012

·         MAC – Annual General Meeting 08/05/2012

·         SSM – Cash Dividend 08/05/2012

·         HAX – Annual General Meeting 08/05/2012

• CT6 – Cash Dividend 08/05/2012

Corporate News

• LM3: Earns VND8Mln Net Profit in Q1/2012


• IDV: Q1/2012 Net Profit Rises 13% to VND5.3Bln


• NHC: Q1/2012 Net Profit Falls 54% to VND888Mln


• FDT: Q1/2012 Net Profit Tumbles 81% to VND554Mln


• EID: Earns VND1.9Bln Net Profit in Q1/2012


• HMH: Earns VND1.9Bln Net Profit in Q1/2012


• LAS: Q1/2012 Net Profit Rises 9% to VND129Bln 


• ALT: Swings to VND1Bln Net Loss in Q1/2012 


• AME: Suffers Heavier Net Loss at VND7Bln in Q1/2012 


• VNR: Q1/2012 Net Profit Rises 14% to VND65Bln 


• SHN: Suffers Heavier Net Loss at VND17.4Bln in Q1/2012 


• PVS: Q1/2012 Net Profit Rises 6% to VND91.7Bln 


• PVL: Posts Narrower Net Loss at VND4.8Bln in Q1/2012 


• REE: Consolidated Net Profit Soars 176% to VND256Bln in Q1/2012


• SDY: Swings to VND2.6Bln Net Loss in Q1/2012


• TCO: Consolidated Net Profit Falls 24% to VND3Bln in Q1/2012


• VTS: to Pay 2011 Cash Dividend on June 29 at VND2,000/Share