Nov 11: StoxPlus Morning Brief

Macro economy

• Vietnam Plans VND100Tnl for Debt and Aid Payments in 2012
  Vietnam National Assembly or the Congress passed state budget plan for 2012 this morning, in which it approved to spend VND100 trillion (11% the state budget expenditures) for debt and aid payments in 2012, increasing VND14 trillion from 2011.

• Vietnam Law Makers Pass New Minimum Wage Raise for 2012
  Vietnam National Assembly or the Congress passed planned state budget for 2012 this morning in which it approved to raise minimum wage by 26.5% to VND1,050,000, applicable from May 1st, 2012.

• Vietnam to Tighten Inspections On Importing Goods and Services
  The General Department of Vietnam Customs issued the official document No.5589/TCHQ-TXNK requesting all the local customs departments to tighten inspecting, consulting and determining taxes for importing items in the list of risk management.

• Dong Savings: Safest Investment Channel?
  Dong savings emerge as the safest investment option to investors with idle funds in the context of easing inflation while other investment channels become less attractive and more risky, the central bank said on its website on Nov 10.

• Average 12-month Interbank Interest Rate Hits All-time High on Nov 7
  The average interbank interest rate for 12-month term skyrocketed from 20.59% on Nov 4 to 36.58% p.a. on Nov 7, hitting a new high record, the central bank’s data showed.

• Vietnam Prime Minister Asks C.Bank to Report Banking System Restructuring Project
  The government on Nov 9, 2011 requested the State Bank of Vietnam to cooperate with related ministries and government bodies to promptly develop banking system restructuring project and report it to the Prime Minster in November, 2011.

• Garment & Textile Exports Record US$11.7 Billion
  Vietnam’s garment and textile exports earned US$11.7 billion in the first ten months of 2011, US$500 million higher than the projected target for the whole year.

• Vietnam Exports Hit $141 Million
  Vietnam’s total seafood exports to the Middle East stood at more than $141 million in the first half of the year.

Market News

• ­8 Top Executives of Vietnam Securities Companies Step Down in 6 Weeks
  The Hochiminh Stock Exchange’s announcements showed that as many as 8 Deputy CEOs and CEOs of branch managers of 8 securities companies have stepped down in the past 6 weeks.

• NOV 10: Foreigners Continue Net Buying on HOSE, Still Sell on HNX
  Foreigners continued to be net buyers on the primary bourse HOSE today, mostly thanks to heavy net buying into VIC, but they remained net sellers on the HNX for a seventh day in a row.

Corporate Events

·         BIC – Treasury Stocks 11/11/2011

·         MCF – Extraordinary General Meeting 11/11/2011
MKP – Cash Dividend 11/11/2011

·         NTL – Cash Dividend 11/11/2011

·         PLC – Share Issue 11/11/2011

·         V11 – Record date for ballot 11/11/2011

·         VDL – Cash Dividend 11/11/2011

·         VC9 – Share Issue 11/11/2011

·         VC9 – Cash Dividend 11/11/2011

·         VCM – Cash Dividend 11/11/2011

Corporate News

• ALT: Q3/2011 Net Profit Jumps 405% to VND4Bln


• MKV: Swings to VND356Mln Net Loss in Q3/2011


• MMC: Makes VND4Bln Net Profit in Jan-Sep


• MPC: Posts $264Mln Export Turnover in 10M/2011, up 38%


• PPP: Makes VND1.3Bln Net Profit in Jan-Sep


• PVE: Consolidated Net Profit Jumps 199% to VND40Bln in Jan-Sep


• PVA: Q3/2011 Consolidated Net Profit Plunges 98% to VND1Bln


• SD2: Q3/2011 Consolidated Net Profit Rises Slightly to VND5.7Bln


• SMC: Posts VND5.7Bln Net Profit in October


• SDT: Q3/2011 Consolidated Net Profit Falls 30% to VND18Bln