HAH – 1H2016 earnings performance update

Hai An Transport and Stevedoring JSC just released its 2Q eanings results. In specifics, while 2Q revenue fell 10.4% yoy to VND109 bil, PAT managed to record VND36 bil (up 6.6%yoy). For the first six months of 2016, accumulated revenue was sligthly down 6.7% and PAT posted VND72 bil (equivalent to 2015’s corresponding figure). Given the industry backdrop of increasing port supply and the absence of extraordinary refridgerated cargoes this year, the earnings achieved above is encouraging.

HPG- Q2 Result: Remarkable

Ending half a year, HPG completed 55% Revenue and 95% NPAT annual targets. HPG thus raised NPAT target from VND 3,200 bn to VND 5,000 bn, which is considered careful taking into account HPG’s current market power in both production and consumption. Therefore, 2016 NPAT is expected to be exceed the budget.

PPC – 2Q2016 result update

Pha Lai Thermal Power Plant (PPC – HSX) today announced its 2Q2016 consolidated financial statements. Accordingly,  2Q revenue posted VND1,517 bn (-33% yoy) while NPAT recorded a loss of VND192 bn (6M2015 earnings was positive VND317 bn).

Quick comments on 1H2016 nonlife insurance sector

In the first quarter of 2016, the Insurance Supervisory Authority (ISA) reported that total gross premium of the industry was VND18,274 billion (+26% yoy). Nonlife insurance increased 17.36% compared to last year first quarter, equivalent to VND8,852 billion. Loss ratio (based on gross premium) was 29%, far lower than 37.17% of 1Q/2015 as companies had to pay for damage incurred from riots in Binh Duong, Ha Tinh, Dong Nai provinces and major loss payment of PVI for some breakdowns of Oil & Gas industry. In term of market share, PVI was still the leader with 21.29% market share. BVH, which held 17.83% was the runner-up. The next three positions were BMI (8.35%), PTI (8.13%) and PGI (6.57%).

PXS – No sudden movements in core business activities

Petroleum Equipment Assembly & Metal Structure JSC (PXS – HSX) announced the business results for Q2/2016 without many changes compared to plan. Accordingly, revenue and profit after tax achieved VND 431 billion (-28.0% yoy) and VND 42 billion (-11.84% yoy) respectively.

CTD – Remarkable growth observed in 1H2016

CTD has just announced Q2/2016 business performance, which sees substantial growth in major figures. Ctd recorded Q2 Revenue and NPAT growth rates of 80% and 151% yoy respectively. Regarding the first half of 2016, the rates are 85% and 177% compared to 1H2015 respectively.

NCT - Company report introduction dated 20/07/2016

Noi Bai Cargo Terminal Services JSC (NCT-HSX) is the leading provider of air cargo services at Noi Bai Airport. The firm has leveraged on its established services quality and Vietnam Airlines support to set up a wide network of clients making up 60% market share at Noi Bai. The expansion of current MNCs projects (Samsung, LG display, Canon, Nokia) and new FDI inflow expect to sustain the 12-15% annual growth in air cargo in Northern Vietnam going to FY2020. However, NCT’s earnings outlook in short term would face headwinds with new joiner ALS in 2015.

NCS (Upcom) - Benefits from the growth of Vietnam Aviation Industry

Noi Bai Catering Services JSC (NCS-Upcom) was founded by equitizing Noi Bai Catering Service Enterprise in 2004. Company’s core businesses are providing in-flight meals and related services for airline companies. Vietnam Airlines – the holding company – owns 60% of shares, and Southern Airport Services JSC (SASCO) owns 10% of shares. Below is a brief information on NCS ’s prospect:

SKG – Maintain the impressive business results

Superdong Fast Ferry Kieng Giang JSC (SKG – HSX) announced business results for Q2/2016. SKG maintained efficient core business activities with impressive results when revenue and profit after tax achieved VND 103 billion (+12.3% yoy) and VND 65 billion (+19.4% yoy) respectively. The growth rates compared to last quarter (Q1/2016) are +18.4% and +20.1%.

PVT- 1H2016 earnings update and 2016 outlook rating

Under the theme of expanding refinery capacity domestically and rising fuel consumption greatly supporting oil tanker activity. We, hereby, would like to give investors updates on the 1H2016 performance and the whole year business outlook of PetroVietnam Transportation JSC (PVT-HSX).

Brief update about Tay Ninh Rubber JSC (HSX – TRC)

Recently our analyst had a meeting with the representative of Tay Ninh Rubber Jsc (HSX – TRC) in order to update about the latest earnings result and company outlook.

ETC access strategy - Raising the factory’s standard

Due to technological limitations, Vietnam pharmaceutical enterprises can produce generics drugs only. Generics drugs, when bidding into ethical channel (ETC), will be classified into five tiers and will compete with other drugs of the same tier only:

Tier 1: medicines produced by manufacturers that meet EU-GMP or PIC/S in countries that belong to the ICH (USA, Japan, EU), and Australia

Tier 2: medicines produced by manufacturers that meet EU-GMP or PIC/S in countries that do not belong to the ICH and Australia. Indian companies account for the biggest part of the group, follow by companies from other Asian countries like Taiwan and Korea. There are only a few Vietnam enterprises in this group (Bidipharco, Pymepharco).

Tier 3: medicines produced by manufacturers that meet WHO-GMP, recognized by MoH.

Tier 4: medicines that have bio-equivalence, recognized by the MoH.

Tier 5: Others.