BCE – Stable Business and High Dividend Yield

Becamex BCE (BCE-HSX), a member of Becamex IDC, is in charge of industrial (warehouse and industrial park infrastructure) and civil construction. We have a new view regarding the company’s business prospects, based on its latest 2017 annual shareholder meeting.

VFG - 2017 Annual General Meeting: Gathering Momentum

Vietnam Fumigation JSC (HSX: VFG) is the second largest company in the agrochemical industry, only topped by Loc Troi. VFG mainly operates in the following four segments: agrochemical manufacturing and trading, fumigation and PestMan services, seed trading and real estate. VFG is a distributor for a large amount of famous agrochemical brands, including Syngenta, Kumia, Sumimoto, Nipon and Soda.

NLG: Updates on a New Project Development

Nam Long Investment Corporation (HSX: NLG) announced that it will cooperate with Hankyu Realty and Nishi Nippon Railroad to develop the property project Mizuki Park, with a total area of 26 ha.  The total investment capital of the project will be around VND8,000 billion, in which NLG will contribute 50%.  Mizuki Park will comprise of 4,676 Flora apartments, 170 land plots, townhouses and Valora villas, and will be one of the key projects for NLG in 2017 – 2020.

STG – 2017 AGM Update

South Logistics JSC – Sotrans (STG – HNX) passed its 2017 business plan with significant increases in both revenue and profit.

CHP: Quick Update on its Business Performance in Q1 2017

The electricity output of Central Hydropower JSC (CHP - HSX) in the first three months of 2017 strongly reflects the effect of La Nina. According to a recent update from the company, its electricity output for Q1 2017 reached 240.5 million kWh (+202.9% YoY) and revenue reached 224.5 billion (+158.0% YoY); the average electricity selling price was 1,017 dong/ kWh (-14.8% YoY). With this revenue level, we estimate that the company’s NPAT in Q1 2017 will be VND132 billion (Q1 2016: VND8.8 billion). Therefore, CHP has already completed 60% of its profit target in 2017 during the first quarter (in the submission to the the upcoming AGM).

TTC - AGM Update

The price movements of Thanh thanh Joint Stock Company (HNX: TTC), a company specializing in producing ceramic tiles (4 million m²/year) and porcelain (1.5 million m²/year), have been less positive since the beginning of 2017, as the business results have had no growth. The sales of TTC decreased by nearly 10% in 2016, due to the increased competition from China and the overcapacity of ceramic tiles in Vietnam.  However, thanks to the optimization of production, TTC’s profit margin improved considerably.

AgroChemical Industry – Dominant Advantages from Leading Companies

In 2016, the agrochemical industry coped with challenges from negative weather, which also resulted in increased competition. Top leaders including Loc Troi and VFG witnessed positive growth, increasing by 17% and 12%, respectively, while other small companies’ revenue changed insignificantly or even declined.

Shares of Brokerage Firms: Rumors and Reality

Securities stocks outperformed the market. The trading volume of these shares also surged with high participation from foreign investors. For many of these stocks such as VND (ceiling), SHS (ceiling), SSI (+VND700/share), and BVS (+VND600/share), foreign investors accounted for more than 50% of the total volumes. Foreigners net bought VND298 billion on both the HSX and HNX. Brokerage firms were among the top 5 net bought shares including SSI (VND32 billion), VND (VND13 billion), SHS (VND4 billion), BVS (VND3billion). There are many pieces of news that are supporting brokerages’ performance...

CTD- Opportunities from its Leading Position

CTD recently held a press conference to postpone its 2017 annual general meeting initially scheduled on April 13^th 2017. Coteccons’ representative stated that the AGM is going to be postponed for approximately a month for the management board to finalise the reports and resolutions. During the press conference, CTD’s executive has announced updates about the company’s Q1 results, 2017 targets, as well as a foreign ownership cap lift, which the company will vote on in its upcoming AGM.

KSB - Stories that will Push its Stock Price

Since the ex-rights date of bonus shares (1:1), KSB has been outperforming its peers. Specifically, after the split day, KSB's shares rose 13.9% while NNC fell 2.0%, C32 decreased 5% and DHA fell by 3%. We think that the key supporting factors for this stock includes the prospects of its business in Dat Cuoc Industrial Park and its Q1 2017 earnings results.

PVS – Information about FPSO Lam Son

On 03/04/2017, PVS received notice about the termination of its contract for FPSO Lam son. FPSO Lam Son is the floating production storage and offloading vessel, which is under the operation of PTSC Asia Pacific (PTSC AP), a joint-venture between Yinson (49%) and PVS (51%). Accordingly, the termination came from the liquidation of Lam Son JOC (jointly owned by PVEP and Petronas) which conducts exploration and production activities in Thang Long – Dong Do field in Vietnam. Yinson asserted that the liquidation will occur on 30/06/2017.