Sector report
28
June
SEAFOOD SECTOR – In-depth – [NEUTRAL] – Awaiting the “inflection point”
“… Seafood sector is over the hump and being on a recovery path, but we believe this path still faces to some challenges in 2H24F. We await the “inflection point”,...
28
June
RETAIL SECTOR – In-depth – [Non-rated] – It’s time for a sprint
In 1Q24, we see that consumers’ confidence reached the highest level of 78% in the last 5 quarters. Together with a more bustling production activity (especially in 2Q24 with IIP...
15
April
POWER SECTOR – Preview – [NEUTRAL] – 1Q24F Preview: The El Niño calls Coal-fired
The bright spot in 1Q24 was coal-fired power. Growth came from the shortage of hydropower supply and the benefit of rapidly falling coal prices compared to gas prices in recent...
10
April
SEAFOOD SECTOR – Preview – [NEUTRAL] – 1Q24F Preview: First stages of restoration
In 2M24, the total export turnover of pangasius fish increased slightly by 7.8% yoy, with the U.S market being the standout. Meanwhile, shrimp export turnover recorded a growth of +22.6%...
02
October
POWER SECTOR – In-depth – [OVERWEIGHT] – Green Era
Long-term, fast growth in demand for electricity opens up a lot of opportunities for industries in the power system. Regarding the power generation activity, especially, we highly evaluate the growth...
01
June
Crushed Stone – In-dept – [Overweight] – Bracing for growth from 2024F
We initiate an Overweight rating on the Crushed Stone industry in 12-month horizons spurred by the robust demand growth serving the public infrastructure spending in 2024-2025F. Going forward, the housing...
Featured Analysis
HAH – Brief – [NONRATED] – Earnings bottom are confirmed
HDG – Brief – [NONRATED] – NPAT boosted by drop in interest expenses
VJC – Brief – [NONRATED] – Strong core business, new supplying incoming
Seafood: Pangasius market – Indepth – [Overweight] – The tide is turning
VCB- Earnings review-[BUY]- Enhancing asset quality
POW – Earnings review – [HOLD] – Positive results from the low base
HVN – Brief – [NONRATED] – Debt write-off saved bottom line
