Company

ctg.vn, dig.vn, fpt.vn, hdb.vn, sab.vn, vhm.vn, vic.vn, vnm.vn, vbb.vn, vtr.vn

CTG VN: aims, in 2023, to increase total assets by 5-10% YoY, increase charter capital to VND60,387 bn or over VND66,000 bn through the plan of issuing shares to pay dividends approved by competent authorities.

DIG VN: stops offering 100 mn shares to raise capital.

FPT VN: Hoang Nam Tien, chairman of FPT Telecom for the last three years, has been named vice chairman of FPT University. Replacing him as FPT Telecom chairman is Hoang Viet Anh. FPT Group said the changes are in line with its agenda of rotating senior leaders.

FPT VN: Tech giant FPT is set to install a cable at a cost of US$87 mn to connect Vietnam with the undersea Asia Link Cable.

Comment: This is perhaps the best outsourced IT developer company in the region.

HDB VN: expecting to achieve PBT of VND13.2 tn (US$562 mn) in 2023 by stabilizing its liquidity, managing interest rates and digitizing. The target is equivalent to a 29% increase over last year’s profits. PAT is also expected to rise by 29% to VND10.56 tn.

Comment: A lessor known bank, but it’s part of the 4 that are helping out the bad banks – which implies that they’ll consolidate market share over the next 5 years.

SAB VN: registered to buy an additional 2,834,750 shares of WSB from April 26th to May 25th to increase the number of WSB shares held to 10,229,750 shares, equivalent to 70.55%.

VHM VN: is expected to offer up to VND10,000 bn of bonds through one or more tranches, with maturities from 12 – 60 months and maximum interest rate of 15%.

VHM: Vietnam’s biggest property developer Vinhomes will start selling two social housing projects this year in the central region.

Comment: 15%! From the largest developer in the country.

VIC VN: Within the next 1 year, Mr. Pham Nhat Vuong will donate USD 1 bn to VinFast from his personal assets, Vingroup will provide a non-refundable USD 500 mn, and lend VinFast USD 1 bn with the maximum term of 5 years.

Comment: Oh he somehow has this USD 1bn in his backpocket? Or did the Party tell him to pay up or risk jail, VIC.VN is going to bankrupt VinGroup, and I have no idea why the country is going down this stupid route.

VNM VN: plans to add business lines and industries; in which, there is solar power generation, except for transmission, dispatching of the national power system and management of distribution power grids and multi-purpose hydroelectricity.

VBB VN: announced it would stop trading its stock VBB on the Unlisted Public Company Market, or UPCoM, to move to the Hochiminh Stock Exchange for more favorable market conditions.

VTR: Vietravel Airlines is expecting to expand its fleet to six by adding three more aircraft in 3Q following a plan set out from the early days of its establishment.

Company Earnings

anv.vn, dcm.vn, dig.vn, dgc.vn, dgw.vn, ctd.vn, kdh.vn, hpg.vn, mbb.vn, qns.vn, stb.vn, tcb.vn, tpb.vn, vib.vn, vic.vn, vre.vn

ANV VN: sets, in 2023, revenue target of VND5,200 bn and PBT target of VND500 bn. Also, ANV recorded, in 1Q2023, revenue of VND1,155 bn (-5% YoY) and PAT of VND92 bn (-56% YoY), completing 22% of the revenue and profit plan.

DCM VN: recorded, in 1Q2023, revenue of VND2,829 bn (-34% YoY) and PAT of VND230 bn (-85% YoY).

DIG VN: sets, in 2023, revenue target of VND4,000 bn and PBT target of VND1,400 bn (+98% and +604% respectively). Dividend for 2023 is expected to be around 8 – 15%.

DGC VN: sets, in 2023, revenue target of VND11,075 bn and PAT target of VND3,000 bn (-23.3% and -50.3% respectively YoY). For 1Q20223, DGC recorded net revenue of VND2,483 bn (-31.6% YoY) and PAT of VND823 bn (-45% YoY), achieving 22% of the revenue target and 27% of the year’s profit plan.

DGW VN: Net revenues reported of VND 3,960bn (- 7% QoQ / -44% YoY). Net profit reported VND79bn (-49%QoQ / -63% YoY). So far, DGW has fulfilled 20% its revenue and profit guidance for 2023.

CTD VN: recorded, in 1Q2023, net revenue of VND3,130 bn (+64% YoY) and net profit of VND22 bn (-24.6% YoY).

KDH VN: announced 1Q23 preliminary PAT was VND200bn, fulfilled 20% of 2023 PAT guidance (i.e., VND 1tn).

HPG VN: recorded, in 1Q2023, revenue of VND26,865 bn (-39% YoY) and PAT of VND383 bn, reaching 5% of the plan in 2023.

MBB VN: sets, in 2023, PBT target of VND26,100 bn (+15% YoY) and total assets target of VND830,000 bn (+14% YoY).

MWG VN: recorded, in 1Q2023, net sales of VND26,990 bn (-26% YoY), completing 20% of the year target. In March, MWG’s revenue reached VND7,980 bn (-28% YoY).

QNS VN: in Q1 the company saw USD96 mn in total revenue, showing an over 18 % increase YoY, and equal to 26 % of the full-year plan. Its PBT came to USD15.6 mn, soaring over 72% YoY, and equal to just under 30 % of the full-year plan.

STB VN: Moody’s has adjusted STB’s credit rating outlook from “stable” to “positive”. For 1Q2023, STB recorded PBT of VND2,383 bn (+49.9% YoY) and total assets of VND596,694 bn (+0.8% YoY).

TCB VN: recorded, in 1Q2023, PBT of VND5,600 bn (+18.5% YoY) and total assets of VND723.5 tn (+17.6% YoY).

TPB VN: recorded, in 1Q2023, PBT of VND1,765 bn (+9% YoY) and total assets of VND343,500 bn (+4.5% YoY).

VHM VN: recorded, in 1Q2023, net revenue of VND 29,299 bn (3.3 times higher YoY). As result, VHM raised its undistributed PAT to more than VND111,900 bn.

VIB VN: recorded, in 1Q2023, PBT of VND2,700 bn (+18% YoY) and total assets of VND357,000 bn (+4.2% YoY).

VIC VN: recorded, in 1Q2023, net revenue of VND50,271 bn (+100% YoY) and PBT of VND4,264 bn (2.2 times higher YoY). Also, total assets reached VND596,877 bn (+3.4% YoY).

VRE VN: sets, in 2023, net revenue target of VND10,350 bn and PAT of VND4,680 bn (+41% and +69% respectively YoY). In addition, VRE recorded, in 1Q2023, net revenue of VND1,943 bn (+42% YoY) and PAT of VND1,024 bn (+171% YoY), fulfilling 19% of revenue target and 22% of profit target.

Country

• The State Bank of Vietnam (SBV) has worked with credit institutions to get their opinions on the draft circular on restructuring the debt repayment term and keeping the debt groups unchanged to support borrowers who have difficulties in production and business activities.
• For 1Q2023, remittances to Ho Chi Minh City reached VND2.119 bn (+19.41% YoY).
• Credit institutions are allowed to buy back corporate bonds before the previous 12-month waiting period, according to a new circular issued Monday by the State Bank of Vietnam.
• The State Bank of Vietnam (SBV), the central bank, is providing much-needed support for the illiquid corporate bond market by making it easier for local banks and branches of foreign banks to buy back corporate bonds.
• In the first half of April, the total import and export turnover reached $26 bn (-15% MoM and -18% YoY). Accumulated to April 15th, the total import-export turnover of goods reached $179.6 bn (-13% YoY). Thus, there is a trade surplus of $5.26 bn.
• The Ministry of Industry and Trade has thrown its weight behind a proposal for a 50% registration fee cut and an extension of special consumption tax payments for domestically made and assembled cars to boost consumption.
• The Organisation for Economic Cooperation and Development (OECD) has forecast that Vietnam’s economy will grow firmly, with its GDP projected at 6.5% in 2023 and 6.6% next year.
• The Ministry of Industry and Trade has just approved for EVN to increase the average retail price of electricity at a maximum of 3% and the adjustment time is after the holiday April 30 to May 1, 2023.