Sector report
27
December
Oil & Gas sector – In-depth – [NEUTRAL] – 2025 Outlook: LNG gains the spotlight
We strongly believe that LNG segment could be bright spot for Oil & Gas sector in 2025F. LNG consumption, led by the official run of Nhon Trach 3&4 LNG-fired power...
14
December
Seafood sector – In-depth – [NEUTRAL] – 2025 Outlook: Against All Odds
In 2025F, as consumer demand continues to revive in key export markets, we project the seafood industry to follow a recovery trend comparable to 2024. However, this may face short-term...
02
December
Housing property-Note-[NONRATED]-Pave the path to unknot
On the afternoon of November 30, 2024, the 8th session of the 15th National Assembly was held with urgency to conclude. The main topic discussed and approved was the draft...
21
November
Aviation – Note – [NONRATED] – Competition arises in the international market
In 3Q24, the aviation industry revenue (represented by HVN and VJC with 70- 80% of total scheduled seats) increased 9% YoY thanks to higher air traffic (+7% YoY), but lower...
15
November
Retail – Note – [NONRATED] – A run-up for the peak sales season
Despite the Yagi Typhoon impacts, we saw a continuing recovery of listed retailers/distributors in 3Q24. In 4Q24F, we believe that consumer spending would be stronger because of (1) the recovery...
15
November
Quant Note – 3Q24 wrap-up: On right track
NPAT-MI growth reached up to 27.9% yoy in 3Q24, and the positive growth chain continued expanding. Even though NPAT-MI growth in 3Q24 was higher than 2Q24's 15.6% yoy, it is...
11
November
Textile & Garment – Note – [Nonrated] – Signals of shinning prospect
In 3Q24, textile and garment turned more vibrate in both manufacturing and export activity. Particularly, clothing, fabric and yarn domestic production grew by double-digit in 3Q24, meanwhile, the exports of...
08
November
Banking – Note – [OVERWEIGHT] – 3Q24 strong growth from the bottom
Aggregated 3Q24 PBT (27 banks) surged +17.7%yoy from a low base 3Q23 thanks to net interest incomes’ strong growth (+17.9%yoy) and moderate growths of OPEX (+9.8%yoy) and risk provision expenses...
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...
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
