Oct 18, 2012: StoxPlus Morning Brief

18/10/2012

Vietnam Aims For 5.5 Percent GDP Growth In 2013

A report on socio-economic development in 2012 and orientations for 2013 will be presented by the Ministry of Planning and Investment (MPI) at the 13th National Assembly’s fourth session next week.

Vietnam Sees Trade Deficit to Rise to $9.9 Billion in 2013: MPI

Vietnam is likely to book a trade deficit of $9.9 billion in 2013 or 8% of the total exports, soaring from only $1 billion estimated for this year, the financial website gafin.vn quoted the Ministry of Planning and Investment (MPI) as saying.

Vietnam Inflation Estimated at 8% in 2012, Says NAEC

Vietnam consumer price index (CPI) is estimated to rise 8% this year, well within single-digit zone as economic growth slows to only 5-5.2%, said National Assembly’s Economic Committee (NAEC) in its report.

Vietnam BoP Surplus Forecast at $3Bln in 2013: Minister

Vietnam is expected to enjoy an overall balance of payment (BoP) surplus of $3 billion in the following year, said Bui Quang Vinh, Minister of Planning and Investment (MOIT) in a discussion session of the NA Standing Committee on Oct 16.

Foreign Investors Still Flock Into Animal Feed Industry

Despite the on-going difficulties of the local livestock industry, foreign investors have still found investment into animal feed production lucrative in the context that the local supply is yet to satisfy demand at home.

Poor Coordination Causes Sept. Sudden Price Hike: Finance Minister

A worse-than-expected economic forecast and loose cooperation among state agencies from central to local levels are the main culprits for the sudden rise in the consumer price index (CPI) last month, said Finance Minister in a TV broadcast.

Lawmakers Express Concern Over Economy

Despite positive results handling inflation and deficit reduction, law makers expressed concern that Viet Nam’s economy is facing signs of stagnation at yesterday’s 12th session of the National Assembly’s Standing Committee.

Vietnam Banks Use At Most Half of Their 2012 Credit Growth Limit

Most commercial banks report very low credit growth and they can use at most half of their “room” for credit growth granted by the State Bank of Vietnam (SBV), the local newswire Banking Times reported.

Inbound Remittances to HCM City Estimated at $3.4Bln in 2012

Ho Chi Minh City is expected to see $3.4 billion inbound remittance in 2012, up 20% on year, the local online newspaper Thanh Nien reported, quoting Nguyen Hoang Minh, Vice Director of the municipal State Bank of Vietnam (SBV).

Market News

Securities Companies’ Major Surgery Enters Most Important Phase

The watchdog agency has shown its determination to reshuffle securities companies by setting up a lot of new strict regulations on the companies’ operation.

Oct 17: Foreigners Change to Net Buy on Both Bourses

Foreigners changed to be net buyers of Vietnamese shares on both the Hochiminh Stock Exchange and the Hanoi Stock Exchange today, level of participation fell.

Corporate News

HOT: 9M/2012 Net Profit Reaches VND26Bln, Up 35%

NSC: Mother Company Posts VND65Bln Net Profit in 9M/2012

SVT: Suffers VND567Mln Net Loss in 9M/2012

NNC: 9M/2012 Pre-tax Profit Meets 79% Full-year Goal

HDC: Holding Firm Earns VND4Bln Net Profit in Q3/2012, down 37%

KLS: Suffers VND91.5Bln Net Loss in Q3/2012

AGR: Posts 6Bln Net Profit in Q3/2012, down 89%

NLC: Net Profit Soars 59% to VND8.1Bln in Q3/2012

GSP: Consolidated Net Profit Climbs 57% to VND15Bln in Q3/2012

LCM: 9M/2012 Net Profit Doubles to VND83Bln

HCM: Q3/2012 Net Profit Falls 23% but 9M/2012 Rises 43%