Nov 2: StoxPlus Morning Brief

Macro economy

• Vietnam Retail and Services Revenues Increase 23.1% in 10M/2011: GSO
  Vietnam estimated to collect VND1,560.98 trillion ($75.03 billion) from retail and services sector in Jan-October, up 23.1% on year, the government’s General Statistics Office said in a monthly report released Monday.

• New Rule May Restrict Gold Bullion Trading
  A draft decree by the State Bank of Vietnam (SBV) seeks to restrict the trade in gold bullion to stabilise the gold market, check hoarding and speculation, and minimise the influence of the gold market on monetary policy.

• ­Vietnam Likely to Cut Business’ Income Tax to 20% In 2012 or 2013
  Finance and Budget Committee proposed to cut business’ income tax to 20% in 2012 or 2013. This is the low business income tax level in the area, Phung Quoc Hien- chairman of NA finance and budget said.

• Banks’ Hefty Profits Eroded by Risk Provisions
  Many banks have reported hefty profits in the third quarter and January-September period, but they are also seeing their actual sums sharply contracted due to big provisions set aside for risks now that bad debts are also rising.

• Vietnam Treasury to Auction VND1 trillion Government Bonds on Nov 3
  The State Treasury of Vietnam will open an auction for VND1 trillion worth of 3-year government bonds at the Hanoi Stock Exchange at 14:00 Nov 3, 2011, the bourse said, adding that the auction will be price competitive and non-price competitive.

Market News

• Market Likely to See Short-Term Rally This Week, Brokers
  Securities firms advised investors to consider buying stocks in the first days of this week after four rising sessions of last week had pointed to a short-term uptrend on the local market.

• Month to October 31: Can Don Hydro Power Crashes 12.4% on Robust Volume
  Can Don Hydro Power (SJD.VN), Vietnam’s 7th largest Energy company by market capitalisation, crashed VND1,400.0 (or 12.4%) to VND9,900.0 in the month ending October 31, ending a three-month streak of rises.

• Vietnam Military Bank Draws On Debut, Volume Hits Record High (Update)
  Military Commercial Joint-Stock Bank (MBB) on November 1, 2011 made its debut on premier stock bourse, marking Vietnam biggest 2011 listing worth VND10 trillion ($479.4 million), share price stayed unchanged at VND13,800, volume hit record high.

• NOV 1: Foreigners Continue Net Buying on Both HOSE And HNX
  Foreigners continued to be net buyers on both HOSE and HNX bourses today, however, the level of participation decreased.

Corporate Events

·         C21 – Cash Dividend 02/11/2011

·         MTG – Cash Dividend 02/11/2011

Corporate News

• AGC: Swings to VND14Bln Net Loss in Q3/2011


• APP: Makes VND10.6Bln Net Profit in Jan-Sep


• CAN: Net Profit Soars 67% to VND6Bln in Q3/2011


• KBC: Swings VND23Bln Net Loss in Q3/2011, Shares Fall 2%


• KDH: Q3/2011 Net Profit Falls 11% to VND20Bln 


• ITC: Swings to VND39Bln Consolidated Net Loss in Q3/2011 


• PMC: Net Profit Rises 24% to VND28Bln in Jan-Sep 


• PVX: Q3/2011 Net Profit Plunges 88% to VND9Bln 


• PVS: Jan-Sep Net Profit Stable at VND394.5Bln 


• PVL: Swings to VND4.4Bln Net Loss in Q3/2011 


• PTS: Consolidated Net Profit Rises 15% to VND3Bln in Q3/2011 


• PCT: Posts VND2.7Bln Net Loss in Q3/2011


• PVT: Net Profit Falls 60% to VND6Bln in Q3/2011


• PIT: Net Profit Rises 34% to VND2Bln in Q3/2011


• PHT: Reports VND2Bln Net Profit in Q3/2011


• OCH: Q3/2011 Net Profit Plunges 81% to VND1Bln


• SCC: Suffers VND5Bln Net Loss in Jan-Sep


• SAM: Posts VND6Bln Net Loss in Q3/2011


• TST: Posts VND3.5Bln Consolidated Net Loss in Q3/2011 


• VMG: Posts VND13Bln Net Loss in Jan-Sep