Week 03/02 – 07/02

Company bid.vn, vpb.vn

BID VN: The SBV has approved BID’s plan to increase its charter capital by over VND1,238 bn through a private placement of 123.8 mn shares. The offering is expected to take place in Q12025 and five institutional investors are expected to participate, with VEIL (59 mn shares), SCIC (38.7 mn shares), Hanoi Investments Holdings (15.7 mn shares), DC Developing Markets Strategies (8.5 mn shares), and Samsung Vietnam Securities Master Investment Trust (1.9 mn shares).

VPB VN: Ms. Phạm Thị Nhung, VPB’s Board Member and Standing Deputy CEO, plans to buy 30 mn shares, raising her ownership to 36.07 mn shares (0.45%). The transaction will occur from Feb 6th to Mar 7th.

Comment: Part of me looks at VPB and thinks VPB has finally turned the corner.

Country

• Vietnam’s rubber exports surged in value in 2024, reaching US$3.4 bn, an +18% yoy, despite a 6-% drop in export volume to two mn tonnes, according to Vietnam Customs.
• Electric and hybrid vehicles are set for continued robust growth, with a forecasted increase of 25-30% in sales this year, capturing an ever-larger share of total car sales in Vietnam.
• Vietnam has become the second-largest exporter of fruit and vegetables to China, surpassing Chile and closing in on Thailand, with a turnover exceeding US$4 bn.
• Viet Nam’s electronics industry boom witnessed a remarkable boom in 2024, achieving an export turnover of US$126.5 bn, which accounted for one-third of the nation’s total export value, according to the General Statistics Office (GSO).
• Industrial zones in Hai Duong Province attracted three new investment projects in January, totaling around US$84 mn, the Vietnam News Agency reported.
• Vietnam maintained its position as the fifth-largest seafood exporter to Singapore for 12 consecutive months, surpassing Japan for the first time in 2024, amid the intensifying competition in this market.
• Vietnam’s trade with the US is expected to experience robust growth, with export projections reaching between US$125 bn and US$130 bn in 2025, according to the Department of Export-Import under the Ministry of Industry and Trade (MoIT).
• Vietnam has become the second-largest exporter of fruit and vegetables to China, surpassing Chile and closing in on Thailand, with a turnover exceeding US$4 bn.
• Viet Nam’s electronics industry boom witnessed a remarkable boom in 2024, achieving an export turnover of US$126.5 bn, which accounted for one-third of the nation’s total export value, according to the General Statistics Office (GSO).
• Industrial zones in Hai Duong Province attracted three new investment projects in January, totaling around US$84 mn, the Vietnam News Agency reported.
• Vietnam’s trade with the US is expected to experience robust growth, with export projections reaching between US$125 bn and US$130 bn in 2025, according to the Department of Export-Import under the Ministry of Industry and Trade (MoIT).
• Viet Nam’s exports to the EU made an impressive recovery in 2024, reaching nearly US$51.7 bn, an increase of $8.08 bn compared to 2023.
• The S&P Global Vietnam Manufacturing Purchasing Managers’ Index (PMI) posted 48.9 in January, down from 49.8 in December and below the 50 no-change mark for the second successive month.
• Many banks have implemented loan packages with preferential interest rates. Currently, the lowest short-term loan interest rate is from 4.5%.
• Total two-way trade turnover between Việt Nam and other member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) reached more than US$102bn last year, according to statistics recently released by the Ministry of Industry and Trade.
• Vietnam’s consumer price index rose 3.63 % in January from a year earlier while industrial production rose a modest 0.6 % due to the Lunar New Year holiday late in the month, the government said on Wednesday.
• According to the S&P Global Vietnam Manufacturing Purchasing Managers’ Index (PMI) report released on February 3, manufacturing firms maintained an optimistic outlook for production over the coming year, with sentiment recovering from the 19-month low posted in December. More than 36 per cent of respondents predicted a rise in output over the next 12 months, linked to hopes of a recovery in market demand.
• Vietnam’s e-commerce market continued its rapid growth last year, with daily online spending exceeding VND870 bn, according to a report by data analytics firm Metric.
• Viet Nam’s seafood export sector is poised for robust growth in 2025, with expectations of reaching an export value of USD11 bn.
• Viet Nam recorded a trade surplus of more than USD33 bn in the first month of 2025, despite a 10.5 per cent decline year-on-year in total export and import turnover.
• Thanks to the positive results of leveraging tariff preferences from free trade agreements, Viet Nam issued 1.8 mn certificates of origin for USD100 bn worth of goods exported in 2024.
• Viet Nam’s rubber exports to Malaysia reached 38,442 tonnes in 2024 and were valued at USD56.16 mn.
• The first month of 2025 witnessed a record number of businesses restarting operations, with 22,794 enterprises returning to the market.
• China-Viet Nam economic ties have thrived, with bilateral trade reaching USD260.65 bn in 2024, a 13.5 per cent increase, and Việt Nam becoming a key destination for Chinese investors.
• By January 31st, 2025, total registered foreign investment in Vietnam reached USD4.33 bn (+48.6% YoY). Newly registered capital totaled USD1.29 bn across 282 projects (-6.6% drop in projects and -43.6% in capital). The manufacturing and processing sector led with USD869.7 mn (67.6%), followed by real estate (USD248.5 mn, 19.3%) and other sectors (USD168.7 mn, 13.1%).
• In January 2025, CPI increased by 0.98% MoM due to higher medical, transportation, and food costs driven by Lunar New Year demand. Year-over-year, CPI rose by 3.63%, and core inflation increased by 3.07%.

Others

• POW VN: sets, in 2025, revenue target of VND38,185 bn (+27% YoY) and PAT target of VND439 bn (-67% YoY).
• VHM VN: recorded, in Q42024, revenue of VND33,136 bn (+271% YoY) and PAT of VND11,537 bn (+977% YoY). For 2024, VHM recorded revenue of VND103,046 bn and PAT of VND31,179 bn (-7% YoY).
• MSN VN: recorded, in Q42024, revenue of VND22,702 bn (+9% YoY) and PAT of VND391 bn (+1,279% YoY). For 2024, MSN recorded revenue of VND83,178 bn (+6% YoY) and PAT of VND1,999 bn (+377% YoY).
• VNM VN: recorded, in Q42024, revenue of VND15,477 bn (-1% YoY) and PAT of VND2,124 bn (-9% YoY). For 2024, VNM recorded revenue of VND61,783 bn (+2% YoY) and PAT of VND9,392 bn (+6% YoY).
• GVR VN: recorded, in Q42024, revenue of VND9,301 bn (+23% YoY) and PAT of VND2,398 bn (+69% YoY). For 2024, GVR recorded revenue of VND26,254 bn (+19% YoY) and PAT of VND5,103 bn (+51% YoY), exceeding 5% of revenue plan and 48% of PAT target.
• HPG VN: recorded, in Q42024, revenue of VND34,941 bn (+0.3% YoY) and PAT of VND2,807 bn (-6% YoY). For 2024, HPG recorded revenue of VND138,855 bn (+17% YoY) and PAT of VND12,020 bn (+76% YoY).
• VIC VN: recorded, in Q42024, revenue of VND65,244 bn (+140% YoY) and PAT of VND2,025 bn. For 2024, VIC recorded revenue of VND192,159 bn (+19% YoY) and PAT of VND11,735 bn (+444% YoY).
• GAS VN: recorded, in Q42024, revenue of VND24,945 bn (+11% YoY) and PAT of VND2,044 bn (-25% YoY). For 2024, GAS recorded revenue of VND103,564 bn (+15% YoY) and PAT of VND10,398 bn (-10% YoY).
• FPT VN: recorded, in Q42024, revenue of VND17,608 bn (+20% YoY) and PAT of VND2,087 bn (+21% YoY). For 2024, FPT recorded revenue of VND62,849 bn (+19% YoY) and PAT of VND7,849 bn (+21% YoY).
• MWG VN: recorded, in Q42024, revenue of VND34,574 bn (+10% YoY) and PAT of VND847 bn (+838% YoY). For 2024, MWG recorded revenue of VND134,341 bn (+13.6% YoY) and PAT of VND3,722 bn (+2,120% YoY).
• HVN VN: recorded, in Q42024, revenue of VND26,625 bn (+11% YoY) and PAT of VND921 bn. For 2024, HVN recorded revenue of VND105,787 bn (+16% YoY) and PAT of VND6,883 bn.
• ACV VN: recorded, in Q42024, revenue of VND5,721 bn (+14% YoY) and PAT of VND2,852 bn (+96% YoY). For 2024, ACV recorded revenue of VND22,555 bn (+13% YoY) and PAT of VND11,330 bn (+34% YoY).
• NVL VN: completed the early repurchase of 15 bond packages issued in 2020 (NVL2020 bonds) with a total value of VND5,110 bn. As of now, NVL has completed the early repurchase of 20 NVL2020 bond packages with a total value of VND6,660 bn.
• VCB VN: recorded, in Q42024, revenue of VND13,842 bn (+8% YoY) and PAT of VND8,565 bn (-8% YoY). For 2024, VCB recorded revenue of VND55,406 bn (+3% YoY) and PAT of VND33,831 bn (+2% YoY).
• CTG VN: recorded, in Q42024, revenue of VND16,312 bn (+13% YoY) and PAT of VND9,792 bn (+62.4% YoY). For 2024, CTG recorded revenue of VND62,403 bn (+18% YoY) and PAT of VND25,342 bn (+27% YoY).
• BID VN: recorded, in Q42024, revenue of VND15,639 bn (+5% YoY) and PAT of VND7,328 bn (+22% YoY). For 2024, BID recorded revenue of VND58,008 bn (+3% YoY) and PAT of VND24,658 bn (+15% YoY).
• VEA VN: recorded, in Q42024, revenue of VND1,147 bn (+22% YoY) and PAT of VND2,486 bn (+63% YoY). For 2024, VEA recorded revenue of VND4,119 bn (+8% YoY) and PAT of VND7,357 bn (+19% YoY).
• HBC VN: recorded, in Q42024, revenue of VND1,587.4 bn (-28% YoY) and PAT of VND9.5 bn (-91% YoY). For 2024, HBC recorded revenue of VND6,374.5 bn (-15% YoY) and PAT of VND849 bn.
• BVH VN: recorded, in Q42024, revenue of VND10,506 bn (-1% YoY) and PAT of VND538.9 bn (+25% YoY). For 2024, BVH recorded revenue of VND39,862.2 bn (-1% YoY) and PAT of VND2,157 bn (+16% YoY), completing 103% of the year plan.
• VJC VN: recorded, in Q42024, revenue of VND19,797 bn (+36% YoY) and PAT of VND21.4 bn (+8% YoY). For 2024, VJC recorded revenue of VND71,859 bn (+23% YoY) and PAT of VND1,426 bn (+516% YoY).
• VHC VN: recorded, in Q42024, revenue of VND3,206 bn (+34% YoY) and PAT of VND425 bn (+6 times higher YoY). For 2024, VHC recorded revenue of VND12,535 bn (+25% YoY) and PAT of VND1,234 bn (+34% YoY).
• BCM VN: recorded, in Q42024, revenue of VND2,000 bn (-60% YoY) and PAT of VND1,540 bn (-25% YoY). For 2024, BCM recorded revenue of VND5,195 bn (-34% YoY) and PAT of VND2,310 bn (+1% YoY).
• HAX VN: recorded, in Q42024, revenue of VND1,817 bn (+69% YoY) and PAT of VND34 bn (+54% YoY). For 2024, HAX recorded revenue of VND5,500 bn (+38% YoY) and PAT of VND125 bn (+3.6 times higher YoY), exceeding 29% of the PAT target.
• BIC VN: recorded, in Q42024, revenue of VND1,170.9 bn (+14% YoY) and PAT of VND151.4 bn (+21% YoY). For 2024, BIC recorded revenue of VND4,263.7 bn (+17% YoY) and PAT of VND456 bn (+10% YoY), completing 108% of the year plan.
• MCH VN: recorded, in Q42024, revenue of VND8,942.3 bn (+5.3% YoY) and PAT of VND2,367.9 bn (+2.7% YoY). For 2024, MCH recorded revenue of VND30,897.2 bn (+9.4% YoY) and PAT of VND7,920.5 bn (+10.1% YoY).
• REE VN: recorded, in Q42024, revenue of VND2,334 bn (+13% YoY) and PAT of VND679 bn (+34.8% YoY). For 2024, REE recorded revenue of VND8,383 bn (-2.2% YoY) and PAT of VND1,994 bn (-8.9% YoY). Also, REE has set February 28 as the record date for its 2025 AGM and 2024 cash dividend. The company will pay a 10% cash dividend on April 4th.