Week 21/10 – 25/10

Company (cii.vn, kbc.vn, msn.vn, mwg.vn, pvs.vn, vhm.vn)

CII VN: successfully issued VND300 bn in 2-year non-convertible, unsecured bonds with a 10% annual interest rate.

Comment: That’s cheap…..cheap in the sense that it’s a dodgy company and it should really be offering 15-20%, and Central Bank rate is 4.5%ish

KBC VN: Hung Yen Investment and Development Corporation, a subsidiary of KBC, is planning to develop the Kim Thành 2 Industrial Park in Hai Duong province with a projected investment of more than VND5,600 bn.

MSN VN: signed an MOU with Export Development Canada  (EDC) aimed at enhancing trade cooperation in vital industries, including agriculture, consumer goods, and mining.

MWG VN: HOSE has revealed the VNDiamond index restructuring results, adding MWG’s shares back to the portfolio after their removal in the last six-month cycle.

Comment: And voila it’s done, kicked out and now back in – never really was in doubt.

PVS VN: the joint venture between PVS and BCA Thang Long won Package No. 4.9 (construction, equipment installation, and detailed design drawing for the aircraft fuel supply system) at Long Thanh airport with the winning bid value of VND2,900 bn.

VHM VN: begins share buyback from October 23rd

Comment: Don’t they have to give dividends to Vinfast?

Country

• For 9M 2024, the industrial sector’s added value is estimated to have increased by 8.34 per cent year-on-year, contributing 2.71 %age points to the overall growth of the economy’s added value.
• For 9M 2024, the industrial sector’s added value is estimated to have increased by 8.34 % yoy, contributing 2.71 % to the overall growth of the economy’s added value.
• Vietnam’s lobster exports to China rose 33-fold yoy to US$205.87 mn in January-September on the back of lower prices and stronger trade ties between the two nations.
• Vietnam is emerging as a critical link in the Halal supply chain and can become a key player in the global Halal market, which is projected to reach US$10 tn by 2030, according to experts from Saudi Arabia and India.
• Vietnam’s coffee exports exceeded the US$5 bn mark for the first time in the 2023-2024 crop year that lasted from October 1, 2023 to September 30, 2024.
• Vietnam expects to attract US$39-40 bn in foreign direct investment (FDI), according to forecasts to the end of the year.
• The Prime Minister projects Vietnam’s economy to hit 500 bn USD by 2025, up 1.45 times from 2020, ranking 33rd globally and 4th in ASEAN. Per capita GDP is expected to rise from 3,720 USD in 2021 to 4,900 USD in 2025, a 31.7% increase.
• The Foreign Investment Agency (FIA) under the Ministry of Planning and Investment said in the first nine months of this year, the total registered foreign investment capital reached more than $24.78 bn, an increase of 11.6% over the same period in 2023.
• Vietnam’s fruit and vegetable exports in the first 10 months reached $6.4 bn, surpassing last year’s total of $5.7 bn, with durian being the largest contributor.
• Vietnam’s GDP per capita is set to rise by 5% to $4,900 next year if the country achieves economic growth of 7% this year, Prime Minister Pham Minh Chinh has said.

Financials

• TCM VN: recorded, in Q32024, revenue of VND1,179 bn (+31% YoY) and PAT of VND89 bn (+65% YoY). For 9M2024, TCM recorded revenue of VND2,927 bn (+15% YoY) and PAT of VND226 bn (+38% YoY), completing 76% of the revenue plan and 36% of the profit target.
• VHC VN: recorded, in Q32024, revenue of VND3,278 bn (+21% YoY) and PAT of VND341 bn (+70% YoY). For 9M2024, VHC recorded revenue of VND9,329.3 bn (+22% YoY) and PAT of VND870 bn (-1% YoY).
• MSN VN: recorded, in Q32024, revenue of VND21,487 bn (+6.6% YoY) and PAT of VND1,301 bn (+167.7% YoY). For 9M2024, MSN recorded revenue of VND60,476 bn (+5.2% YoY) and PAT of VND2,726 bn (+101% YoY), completing 131% of the year plan.
• ACB VN: recorded, in Q32024, revenue of VND6,881.4 bn (+10.8% YoY) and PAT of VND3,870.4 bn (-4.1% YoY). For 9M2024, ACB recorded revenue of VND20,714.4 bn (+11% YoY) and PAT of VND12,244.4 bn (+1.7% YoY). Also, ACB plans to issue private bonds worth VND15 tn in Q32024.
• FMC VN: recorded, in Q32024, revenue of VND2,845 bn (+59% YoY) and PAT of VND94.8 bn (+6% YoY). For 9M2024, FMC recorded revenue of VND5,549 bn (+45% YoY) and PAT of VND235 bn (+10% YoY), completing 100% of the revenue plan and 73% of the profit target.
• PAN VN: recorded, in Q32024, revenue of VND5,084 bn (+37% YoY) and PAT of VND344 bn (+78% YoY). For 9M2024, PAN recorded revenue of VND11,917 bn (+32% YoY) and PAT of VND720 bn (+58% YoY), completing 81% of the revenue plan and 81% of the profit target.
• DGC VN: recorded, in Q32024, revenue of VND2,558 bn (+4% YoY) and PAT of VND738 bn (-8% YoY). For 9M2024, DGC recorded revenue of VND7,447 bn (+1% YoY) and PAT of VND2,322 bn (-7% YoY), completing 73% of the revenue plan and 74% of the profit target.
• PNJ VN: recorded, in Q32024, revenue of VND7,130 bn (+3% YoY) and PAT of VND216 bn (-15% YoY). For 9M2024, PNJ recorded revenue of VND29,242 bn (+25% YoY) and PAT of VND1,382 bn (+3% YoY), completing 79% of the revenue plan and 66% of the profit target.
• SSB VN: recorded, in Q32024, PBT of 1,269 bn (+11% YoY). For 9M2024, SSB recorded PBT of VND4,508 bn (+43% YoY), completing 76.6% of the PBT plan.
• IMP VN: recorded, in Q32024, revenue of VND545 bn (+17% YoY) and PAT of VND72 bn (+3% YoY). For 9M2024, IMP recorded revenue of VND1,553 bn (+12% YoY) and PAT of VND200 bn (-12% YoY), completing 66% of the revenue plan and 60% of the profit target.
• VND VN: recorded, in Q32024, revenue of VND1,270 bn (-27% YoY) and PAT of VND505 bn (-21% YoY). For 9M2024, VND recorded revenue of VND4,113 bn (-11% YoY) and PAT of VND1,467 bn (+23% YoY).
• IDC VN: Tan Phuoc 1 Industrial Park spans 470 ha and will be constructed by IDICO Tien Giang (a subsidiary of IDC), starting in Q1 2025 with a total investment of VND5,899 bn.
• TCB VN: recorded, in Q32024, revenue of VND8,929 bn (+23% YoY) and PAT of VND5,738 bn (+24% YoY). For 9M2024, TCB recorded revenue of VND26,906 bn (+34% YoY) and PAT of VND18,152 bn (+34% YoY). 
• BMP VN: will distribute nearly VND 470 bn as the first interim dividend of 2024, with a payout rate of 57.4%. The ex-dividend date is November 13th, and payment will be made on December 5th, 2024.
• VCI VN: recorded, in Q32024, revenue of VND974.4 bn (+46% YoY) and PAT of VND215.4 bn (+20% YoY). For 9M2024, VCI recorded revenue of VND2,696.5 bn (+61.8% YoY) and PAT of VND692.32 bn (+88% YoY), exceeding 20% of the year plan.
• GVR VN: estimated, in Q32024, PAT of VND801 bn (+62% YoY). For 9M2024, GVR recorded revenue of VND16,207 bn and PAT of VND2,386 bn, completing 65% of the revenue plan and 69% of the profit target.
• DHG VN: recorded, in Q32024, revenue of VND1,062 bn (-3% YoY) and PAT of VND156 bn (-6% YoY). For 9M2024, DHG recorded revenue of VND3,426 bn (-1.6% YoY) and PAT of VND571 bn (-28% YoY), completing of 59% of the year plan.
• HAX VN: recorded, in Q32024, revenue of VND1,536 bn (+38% YoY) and PAT of VND90.3 bn (+984% YoY). For 9M2024, HAX recorded revenue of VND3,696 bn (+27% YoY) and PAT of VND144 bn (+888% YoY), completing of 92% of the year plan.
• PHR VN: recorded, in Q32024, revenue of VND318 bn (+13% YoY) and PAT of VND33 bn (+47 times higher YoY). For 9M2024, PHR recorded revenue of VND772 bn (+18% YoY) and PAT of VND62 bn (-76% YoY), completing of 25% of the year plan.
• FPT VN: recorded, in Q32024, PAT of VND2,089 bn (+20% YoY). For 9M2024, FPT recorded revenue of VND45,241 bn (+19% YoY) and PAT of VND5,762 bn (+21.5% YoY), completing of 73% of the revenue plan and 75% of the profit target.
• SSI VN: recorded, in Q32024, revenue of VND1,994 bn (+5% YoY) and PBT of VND937 bn (+11% YoY). For 9M2024, SSI recorded revenue of VND6,452 bn and PBT of VND2,981 bn, completing of 80% of the revenue plan and 88% of the PBT target.
• NLG VN: recorded, in Q32024, revenue of VND370.6 bn (+4% YoY) and loss after tax of VND52.4 bn. For 9M2024, NLG recorded revenue of VND827.5 bn (-46% YoY) and PAT of VND15.5 bn (-92% YoY).