Week 15/04 – 19/04

Corporate – ctd.vn, gmd.vn, mwg.vn, hhv.vn, shb.vn

• CTD VN: signed a strategic cooperation agreement in establishing and implementing investment activities in the Vietnamese market with Kusto Group. Accordingly, Kusto Group commits to invest $200 mn through co-investment cooperation with CTD in the period 2024 – 2028.
• GMD VN: completed the divestment of all shares at Nam Hai Port to Nhat Viet Joint Stock Company (Vietsun). The ownership ratio accordingly decreased from 99.98% to 0%.
• MWG VN: were officially removed from the VN Diamond basket. It is expected that DCVMVVN Diamond will sell nearly 46 mn MWG shares (at the end of the first quarter).
• HHV VN: plans to issue a total of nearly 170 mn shares to increase charter capital to VND5,816 bn through three forms of private offering, issuance to existing shareholders and payment of dividends in 2023.
• SHB VN: Mr. Do Quang Vinh, Vice Chairman of the Board of Directors and Deputy General Director of SHB registered to buy 100.2 mn SHB shares. The expected transaction time is from April 19th to May 17th.

Financials – ctr.vn, bcg.vn, bmp.vn, hax.vn, gil.vn, ppc.vn, pvd.vn, shb.vn, shs.vn, ssb.vn, ssi.vn

• CTR VN: recorded, in March, revenue of VND920.5 bn (+14% YoY) and PBT of VND50 bn (+6% YoY). For 3M2024, CTR’s revenue reached VND2,623.5 bn and PBT reached VND144 bn (+11% and +6% respectively YoY), completing 21% of the revenue and profit plan.
• BCG VN: recorded, in Q12024, net revenue of VND985.4 bn (+40.5% YoY) and PAT of VND98.2 bn (+10 times higher YoY).
• BMP VN: sets, in 2024, revenue target of VND5,540 bn (+6.5% YoY), PBT target VND1,290 bn and PAT target of VND1,030 bn (-1% YoY). BMP plans to pay 2023 cash dividend at the rate of 126%.
• HAX VN: recorded, in Q12024, net revenue of VND1,037 bn (+4% YoY) and PAT of VND22 bn (+6.5 times higher YoY). Also, HAX plans to pay for 2023 cash dividend and stock dividend at the rate of 3% and 15%, respectively.
• GIL VN: sets, in 2024, revenue target of VND1,500 bn and PBT target of VND100 bn (+60% and +100% respectively YoY). The expected dividend rate for 2024 is 10%.
• PPC VN: recorded, in Q12024, net revenue of VND1,996 bn (+52% YoY) and PAT of VND157 bn (+3.9 times higher YoY).
• PVD VN: estimates, in Q12024, revenue of nearly VND1,700 bn and PBT of VND200 bn (+35% and +230% respectively YoY).
• SHB VN: sets, in 2024, PBT target of VND11,286 bn (+22% YoY) and plans to pay 2023 dividend at the rate of 16%, including 5% cash dividends and 11% stock dividends. Total profit used for dividends is nearly VND6,000 bn.
• SHS VN: sets, in 2024, revenue target of VND1,844 bn (+26% YoY) and PBT target of VND1,035 bn (+51% YoY).
• SSB VN: sets, in 2024, PBT target of VND5,888 bn (+28% YoY) and total assets target of VND292,734 bn (+10% YoY). SSB plans to increase charter capital in 2024 by VND5,043 bn VND30,000 bn by issuing 329 mn shares to pay dividends in 2023 at a rate of 13.2%; issuing 10.3 mn bonus shares at a rate of 0.41%; offering 45 mn ESOP shares at a rate of 1.8%; private offering and or issuance for debt swap of nearly 120 mn shares.
• SSI VN: recorded, in Q12024, operating revenue of VND1,920 billion bn and PAT of VND727 bn (+33% and +51% respectively YoY). This is also the highest quarterly profit in the last 2 years.

Country

• Vietnam’s fruit and vegetable export value in March reached $470 mn (+44.3% MoM and +13.2% YoY). For 3M2024, the export value of fruits and vegetables reached $1.28 bn (+31% YoY).
• In Q12024, incoming remittances to HCMC amounted to over $2.86 bn (+35.4% YoY). In which, remittances from the Asian region made up nearly 60% of the total (+86.1% YoY).
• On April 16, SBV lent 10 members a total of nearly 12,000 bn VND through the valuable paper mortgage lending channel with an interest rate of 4%/year, 7-day term. For two consecutive days, OMO channel generated transactions with a scale of about 12,000 bn VND.
• The State Bank of Viet Nam (SBV) has finalized necessary procedures to restart auctioning gold bars to increase market supply after an 11-year hiatus.
• Vietnam’s auto sales in the first quarter of 2024 plummeted by 17% year-on-year, according to the Vietnam Automobile Manufacturers’ Association. Sales of passenger cars experienced a notable 21% decrease, commercial vehicle sales dipped by 6%, and special-use vehicle sales plummeted by a staggering 48% compared to 2023.
• While some commercial banks continue lowering deposit interest rates, others are increasing the rates, particularly for term deposits of 12 months or longer. The highest interest rate for deposits under VNĐ1 bn with a 24-month term is currently 5.8 per cent per year.
• The HCMC Export Processing and Industrial Zones Authority (HEPZA) announced on April 12 that the total investment in the city’s industrial parks in the January-March period reached US$191.93 million, a 112.12% year-on-year rise.
• Industrial and export processing zones in Ho Chi Minh City attracted $191.93 mn in investment in the first quarter. This number is equivalent to 34.9% of the target for 2024 and 112.12% higher than the figure in the same period last year.
• In March, Vietnam’s coffee exports reached 188,972 tons, worth $671.8 mn (-10.2% in volume but +39.2% in value YoY). For Q12024, Vietnam’s coffee exports reached 585,696 tons with a turnover of more than $1.9 bn (+5.9% in volume and +56.7% in value YoY).