Period: 09/01 – 13/01

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Corporate News

BID VN: recorded, in 2022, consolidated PBT of VND23,190 bn and total assets of more than VND2.08 mn bn (+21% YoY) and the first commercial bank to surpass this milestone.

BSR VN: achieved, in 2022, a total revenue of nearly VND167,000 bn and PAT of VND12,200 bn, (contributing 17.8% and 18.8%, respectively of Vietnam Oil and Gas Group.

DCM VN: achieved, in 2022, a revenue of VND16,412 bn, 11% higher than the year plan. The company said profits hit a record, but specific numbers have not been released.

HAH VN: estimated, in 2022, total revenue of VND3,185 bn (exceeding 33% of the year plan and +63% YoY) and PAT of VND827 bn (exceeding 50% of the plan and +85% YoY).

HBC VN: announced that it has won the bid package HK1 of Xenia 1 Industrial Development Project, invested by XENIA 1 Co., Ltd with total value of the package of VND577, 5 bn.

MSN VN: approved the plan to issue two lots of bonds MSNH2227001 and MSNH2227002 with a total par value of VND1,500 bn. Both lots of bonds have par value of 100,000 VND/bond, term of 60 months (5 years). These are non-convertible, unwarranted, unsecured bonds and establish a direct repayment obligation of the issuer.

Comment: This is a good sign for the corporate bond market. They need more strong players issuing bonds so that the positive momentum continues.

MWG VN: completed debt repayment for a bond lot worth VND1,135 bn, due on November 17, 2022.

Comment: See above

PLX VN: recorded, in 2022, consolidated revenue of VND300,000 bn (+78% YoY) and consolidated PBT of VND2,068 bn (-45% YoY). For 4Q2022, revenue reached VND74,223 bn (+50% YoY) and PBT is VND1,454 bn (+76% YoY).

REE VN: won the bid for a residential project of nearly 2 hectares in Thai Binh with a total winning price of VND389 bn.

TPB VN: recorded, in 2022, PBT of VND7,828 bn (+30% YoY) and total assets of VND329 tn (+12% YoY). TPB’s net profit from services reached about VND2,700 bn (+75% YoY).

VCB VN: estimated, in 2022, PBT of nearly VND36,800 bn. VCB’s CASA ratio increased to 34% in 2022, equivalent to about VND428 bn; bad debt ratio is only 0.67%.

Comment: Vietnam is amazing…”pre-estimated earnings” announced by a plc…anyways, looks like VCB will continue to be the best bank in the country

VGC VN: estimated, in 2022, PBT of VND2,288 bn (exceeding 35% of the year plan and +48% YoY). In which, real estate business with PBT is estimated at VND1,622 bn (accounting for 71% of the total PBT of the corporation).

Comment: Knocking it out of the park

Country News

1. Standard Chartered Bank has forecast Vietnam’s gross domestic product (GDP) will expand 7.2% this year, following a solid recovery to 8% in 2022.
2. Data from the SBV, the country’s central bank, showed that capital raised by commercial banks in the city expanded an estimated 6%, with personal savings rising 9.2% against the year earlier.
3. Electricity output and import this year are estimated at 284.5 bn kilowatt hours (kWh), up around 5.5% over last year. The figure is 16 bn kWh higher than in 2022 and 29 bn kWh higher than in 2021. Of the total 284.5 bn kWh, the dry season would account for 137.1 bn kWh and the wet season for 147.4 bn kWh.
4. Deputy Prime Minister Le Minh Khai has just signed Resolution No.163/NQ-CP on promoting the synchronous implementation of key tasks and solutions to enhance competitiveness and boost the logistics industry in the country.
5. The southern province of Binh Duong attracted US$3.13 bn in new foreign direct investments (FDI) in 2022, particularly in the processing and manufacturing industry.
6. There were 11 individual corporate bond issuances recorded in December with a total value of VND1,700 bn of 6 enterprises. In addition, the total value of bonds due until the end of January 2023 is nearly VND17,500 bn, mainly in real estate group (VND10,500 bn, accounting for 60% of the value of corporate bonds to maturity) and construction group (VND5,900 bn, accounting for 34% of the value of corporate bonds due).
7. The total number of securities accounts as of December 31, 2022 is approximately 7 mn. In which, domestic individual investors are 6.84 mn, accounting for 99.2%. The total number of accounts of domestic organizations, individuals and foreign organizations is 57,438, accounting for 0.8%.
8. Property companies have to redeem bonds worth VND10.5 tn ($447.76 mn) that mature this month. Private bond issuance last year declined by 66% to VND244.56 tn, while public issuance rose by 65% to VND10.6 tn. Companies prematurely redeemed VND210.57 tn worth of their own bonds last year, up 46% from 2021.
9. The total state budget revenue reached VND1,515 mn bn (exceeding the estimate of VND1,174 mn bn), equivalent to 112.6% YoY. Notably, there are VND78,030 bn collected from crude oil (equal to 174.8% YoY).
10. Commodity import and export markets in 2022, the United States is Vietnam’s largest export market with an estimated turnover of $109.3 bn. This is also the first export market so far to surpass $100 bn/year. Even, Vietnam’s export turnover to the US is twice the export turnover to South Korea ($24.29 bn) and Japan ($24.23 bn) combined.