Nov 23: StoxPlus Morning Brief

23/11/2011

Macro economy

· Vietnam Credit Growth Surpasses 10%: SBV Governor
Credit growth rate of the whole banking system currently exceeds 10% and is expected to arrive at 12-13% at year end, said Nguyen Van Binh, Governor of the State Bank of Vietnam in an interview posted on the central bank’s website on Nov 21.

· WB Forecasts Vietnam’s GDP + 6.1% and CPI +10.5% in 2012
World Bank (WB) forecast Vietnam’s GDP to rise 6.1% and CPI increase at 10.5% in 2012.

· Vietnam November Trade Deficit Falls 7% MoM to $0.7 Bln
Vietnam is estimated to have incurred a trade deficit of $0.7 billion in November, down 7% on-month, the General Statistics Office said.

· Vietnam Evaluation Businesses Requested to Report 2011 Performance Before Dec 15
Price Management Department under the Ministry of Finance (MoF) has asked price evaluation enterprises to report their 2011 operation performance before Dec 15, 2011.

· Vietnam Introduces Bold Administrative Measures to Stabilize Forex Market
Vietnam has been taking tough administrative measures to stabilize forex market including introduction of a fine of VND50-100 million ($2,380-4,760) for illegal dollar selling at unauthorized gold shops and confiscation of amount caught.

· Bad Debts Arise in the Interbank Market
Bad debts unprecedentedly emerged in the interbank market as many big lenders failed to collect debts from borrowing banks, the local online newspaper Saigon Dau Tu Tai Chinh reported on Nov 21.

· Lending Interest Rates Will Ease If Nov and Dec CPI Stands Under 1%: SBV Governor
Nguyen Van Binh, Governor of the State Bank of Vietnam, “hoped” that the country’s CPI will stay under 1% in the last two months of this year to serve as a firm foundation for the entire banking sector to trim down interest rates at the year-end.

· Vietnam to Ensure Normal Circulation of Formerly-licensed Bullions: Draft Decree
The State Bank of Vietnam posted the draft decree on gold trading management on its website on Nov 21, emphasizing that previously-licensed bullions are permitted to continue their circulation after the new regulation takes effect.

· HCMC: November Credit Growth +9.1%; Total Deposits +16.5% YoY
Total outstanding loans in Ho Chi Minh City, as at November, 2011, were estimated at VND753.8 trillion, up 9.1% on year, the municipal General Statistics Office’s data showed.

· Hanoi: November Credit Growth +10.58%; Total Deposits -0.93% YoY
Total outstanding loans of commercial banks in Hanoi were estimated at VND563 trillion in November, up 2.4% on-month and 10.58% on-year, according to statistics from the municipal General Statistics Office.

Market News

· Five Urgent Solutions for Vietnam Stock Market
Vietnam Enterprises Forum’s capital market commission has proposed five urgent solutions to develop the country’s capital market, especially stock market.

· TNK-BP Vietnam Unit to Start Drilling for Gas Next Month
TNK Vietnam, a subsidiary of TNK-BP Group, will next month start drilling two sub-sea wells in Vietnam’s Lan Do field, one of the assets purchased from shareholder BP Plc, as it seeks projects in Asia and South America.

· NOV 22: Foreigners Net Buy on Both HOSE and HNX
Foreigners changed to be net buyers on both HOSE and HNX on Tuesday. Level of participation increased.

Corporate Events

· CNG – New listing 23/11/2011

· CLC – Cash Dividend 23/11/2011

· FLC – Annual General Meeting 23/11/2011

· MCP – Cash Dividend 23/11/2011

· PTG – Annual General Meeting 23/11/2011

· PTG – Cash Dividend 23/11/2011

· PTI – Treasury Stocks 23/11/2011

· PXS – Cash Dividend 23/11/2011

· PXT – Cash Dividend 23/11/2011

· SDG – Cash Dividend 23/11/2011

· SQC – Share Issue 23/11/2011