Analysis Center
25
October
NT2 – Earnings review – [HOLD] – 3Q24 NPAT experienced robust growth
In 3Q24, revenue NT2 recorded VND1,711bn (+110% yoy) due to (1) the output grew significantly (+104% yoy) and (2) an improvement in the average selling price (FMP) in 3Q24 recorded VND1,207kWh...
24
October
Vietnam’s 8th National Assembly Meeting: What to know
The ongoing 8th National Assembly meeting of the 15th term, which began earlier this week, is crucial for shaping Vietnam's future economic direction. Our focus includes examining the impact of...
23
October
TCB – Earnings review – [HOLD] – Stronger retail loan disbursement
3Q24 PBT was up +23.5%yoy to VND7,214bn from a low base 3Q23, driven by (1) strong credit growth, (2) manageable operating expenses (-5.5%yoy, 3Q24 CIR’s 29% vs 3Q23 CIR’s 35%),...
23
October
FPT – Brief – [NONRATED] – 3Q24: Enhancing international presence
In 3Q24, FPT’s revenue and PBT continued to climb up to VND15.9tn (+15.6% yoy) and VND2.9tn (+19.9% yoy) respectively. For 9M24, signed revenue increased to VND25.1tn (+21.4% yoy) with 33...
23
October
CNG – Earning review – [HOLD] – 4Q24: On the recovery trajectory
In 4Q24, CNG recorded robust top-line growth of 42% yoy, coupled with qoq improvements in gross margin. Yet, high SG&A undermined the bottom-line. In 1Q25F, CNG will enjoy booming yoy...
22
October
FMC – Earnings review – [HOLD] – Absence of short-term growth impetus
In 3Q24, FMC released a revenue of VND2,845bn (+58.6% yoy) of which shrimp products revenue: +60.1% yoy (VND2,801bn). Particularly, the shrimp volumes reached at 8,919 tones (+32.3% yoy) and selling...
21
October
SBV re-offers T-bills amid escalating USDVND
This week, SBV resumed T-bill offerings for the first time in six weeks to withdraw liquidity from the banking system, aiming to curb the rapidly rising exchange rate in recent...
14
October
SBV pulls back liquidity as interbank rates drift
This week, the SBV halted its repo issuance, leading to a modest liquidity withdrawal as previous repo contracts matured, amid a continuing rise in exchange rates. The interbank rate curves...
09
October
4Q24 Strategic Insight : Low cost cash flow amid slowing domestic consumption
Based on current growth momentum, we forecast Vietnam’s real GDP to grow by 7.10% in 4Q24, although Typhoon Yagi, according to authorities' estimates, could dampen the economic growth with a...
Featured Analysis
Derivatives: Breakout Signal?
Market commentary: Maintaining the green territory
Market commentary: Positive performance
Market commentary: Positive performance
Derivatives: Dominated by green
REE – Brief – [NONRATED] – Profit gains through cost reduction
PNJ – Brief – [Non-rated] – Challenges still ahead
