Nov 8: StoxPlus Morning Brief

Macro economy

• Vietnam Banks See Substantial Remittances Outflows
  Local commercial banks reported considerable overseas remittances outflows from the banking system as the volume of foreign currency that remittance receivers sold back to these banks stayed low at 10-15% on average, the Saigon Economic Times reported.
  
  


• Vietnam Government Takes Actions to Avoid Banking System Collapse
  The government assigned functional bodies to closely monitor the local real estate sector to prevent banking system collapse, the local online newspaper VnEconomy quoted Vu Duc Dam, chairman of the government office, as saying in a briefing on Nov 4.
  
  


• Equity Regulation To Deter Investor Plans
  Foreign investors are warning of a slump in foreign direct investment if Vietnam’s policy-makers green-light a controversial rule.

• Vietnam Takes Action to Have Reasonable Electricity Prices: Deputy Prime Minister
  The government is taking actions in an effort to make electricity price transparent and aim to have reasonable electricity prices, Deputy Prime Minister Hoang Trung Hai told the local news paper “Sai Gon Tiep Thi” on sidelines of the NA meeting Nov 7.

• PM Urges More Effort On Socio-Economic Targets
  Prime Minister Nguyen Tan Dung asked ministries, agencies and localities to continue making efforts to implement tasks and measures set in Government Resolution No. 11, striving to cap inflation at 18% and ensuring a GDP growth rate of 6% this year.

• Vietnam to Cut 30% Income Tax for SMEs in 2011
  Prime Minister Nguyen Tan Dung signed Decree No.109 on November 4 cutting income tax for small and medium enterprises (SMEs) and individuals in 2011.

• Vietnam Says Banking System In Good Health
  The Vietnamese government says the banking system will be restructured in the future to increase its effectiveness but as of now, it is stable and healthy.

Market News

• Weekly: Thac Ba Hydropower unchanged on weak volume
  Thac Ba Hydropower (TBC.VN), Vietnam‘s 4th largest Energy company by market capitalisation, closed unchanged at VND11,500.0 for the week ending Friday November 04. Compared with the VN index which fell 11.5 points (or 2.7%) in the week.

• Vietnam Stocks: DHG Pharmaceutical, Societe de Bourbon Tay Ninh
  Shares of the following companies had unusual moves in Vietnam trading. Stock symbols are in parentheses and prices are as of the close in Ho Chi Minh City.

• NOV 7: Foreigners Extends Net Buying on HOSE, Net Selling on HNX
  Foreigners continued to be net buyers on the primary bourse HOSE for 10 working days and remained to be net sellers on HNX for a fourth day in a row today. Level of participation increased.

Corporate Events

·         CTB – Record date for ballot 08/11/2011

·         DIG – Treasury Stocks 08/11/2011

·         MSN – Record date for ballot 08/11/2011

·         NHS – Cash Dividend 08/11/2011

·         SJC – Record date for ballot 08/11/2011

·         TAG – Record date for ballot 08/11/2011

·         TIE – Record date for ballot 08/11/2011

·         VC2 – Share Issue 08/11/2011

·         VC2 – Cash Dividend 08/11/2011

Corporate News

• BDB: Consolidated Net Profit Falls 64% to VND92Mln


• HU3: Net Profit Soars 234% to VND18Bln in Q3/2011


• LIG: Explains 402% Net Profit Jump Q3/2011


• PVT: Swings to VND17Bln Consolidated Net Profit in Q3/2011


• PVD: Consolidated Net Profit Reaches VND317Bln in Q3/2011, up 8%


• PNC: Consolidated Net Profit Falls 89% to VND568Mln in Q3/2011


• SEC: Corrects Q3/2011 Net Profit to VND21Bln


• VSP: Suffers VND72Bln Consolidated Net Loss in Q3/2011