Analysis Center

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...
Report (30)

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...
Report (1)

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...
Report (9)

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...
Report (8)

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...
Report (10)

08

October

SBV turns to liquidity withdrawal as USDVND rebounds

This week, the SBV resumed liquidity withdrawal following significant injections in the previous week, amid a notable rise in exchange rates. The interbank rate curves shifted downward across all tenors,...
Report (28)

07

October

Vietnam economy preserves acceleration momentum on exports

GSO’s September could provide an optimistic sentiment for investors with higher-than-expected economic growth, a steady export value, a steady FDI disbursement, and soft inflation despite the Yagi typhoon in September...
Report (33)

02

October

Power sector – Preview – [Neutral] – 3Q24F Preview: The comeback of Hydropower

We believe that the 3Q24F's earnings of the hydropower groups could benefit significantly due to the La-Nina phase impact. Besides, thermal power groups record growth thanks to an increase in...
Report (17)

02

October

Economic drivers preserve their roles

The economic situation in August continued to develop in the trajectory seen in two recent months. While export performance remains solid with a double-digit growth rate for the sixth consecutive...
Report (19)
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