Updates on Margin Lending Figures

By the end of Q3 2017, total margin supplied by securities firms was more than VND36,155 billion (+9.2% QoQ and 22% YoY). Since beginning of this year, the margin level has increased from VND29,688 billion to VND36,155 billion.

FPT- Core Businesses Continue to Maintain Stable Growth

In 9M2017, FPT reached a revenue of over VND31,000 billion, up 9% over the same period and reached the EAT (attributed to shareholders of parent company) over VND1,500 billion, up 13% over the same period. The bright spot in FPT's past nine months of business lies in the revenue growth of the Telecom sector and an improvement in the performance of the Technology and Distribution & Retail businesses.

Quick Update on Thalexim

Yesterday, HSX announced the auction result of Thanh Le General Import Export Trading Corp (Thalexim) with an average winning price of VND14,832, 40% higher than the beginning price.

IDICO - Initial report introduction

IDICO is one of Vietnam’s most recognized infrastructure developers. Leveraged on its construction capability, the firm has expanded successfully into industrial parks and invested in toll road and hydropower projects. In the short term, industrial park services would be the firms’ main earnings driver as continuous strength in FDI inflow expects to increase occupancy and lease rate for its low cost developed industrial parks. On the other hand, investments in toll road and hydropower are sustainable growth generators in the long run given their stable demand and strong operating cash flow. The firm also commands a solid financial position with 2/3 of debt tied to healthy cash generating projects.

REE: Business Updates

In Q3 2017, total revenue and profit of Refrigeration Electrical Engineering Corporation (HSX:REE) reached VND1,083B (+16% YoY) and VND398B (+51% YoY) respectively. 9M2017, total revenue and profit reached VND3,327B (+41% YoY) and VND1,099B (+113% YoY), fulfilling 72% and 97% of the full year target respectively.

STK – Q3 2017 Results Update

Century Synthetic Fiber Corporation (HSX:STK) announced its Q3 business results with sales growing by 72% YoY to VND531.6B and NPAT jumping by 146% YoY to VND17.8B. Overall, STK recorded VND1,449.7B sales (+50% YoY) and VND66.9B NPAT (+71% YoY) in the first nine months of 2017, fulfilling 76% and 77% of the company’s sales and profit guidelines, respectively.

BMP Result Update – Company Report Release on 26/10/2017

RongViet Research has just released Q2 2017 Result Update Report on Binh Minh Plastic JSC (HSX:BMP) with the following overview and recommendation:

BMP is a state-linked plastic pipe producer whose long-standing brand is widely recognized. Despite being a leading producer in a profitable industry, BMP recently faces up with fierce competition from new entrants that execute aggressive trade discounts. Additionally, plastic pipe producers including BMP are experiencing deterioration in their profitability due to the recent recovery of plastic resin price, which is correlated to the oil price. Assuming the current situation prolongs, we expect BMP’s profit to rebound only if the company manages to increase its sales prices.

Quarterly result update: LHG and NTC

Long Hau JSC (LHX: LHG) announced Q3  2017 result with revenue of VND64.3 billion (-11% YoY) and profit after tax recording VND27.7 billion (-31% YoY). So, in the nine months towards the end of September 2017, the company has completed 37% revenue and 54% profit after tax guidance. The underperformed profit after tax result is not surprised given the firm has taken effort to liquidate contracts of slow payment clients in 9M2017. For new land lease activity, with payment collection requirement to recognize revenue of more than 90%, we expect result of new land lease to be mostly recognized in Q4 2017.

QNS - Rumor About Q3 2017 Result.

QNS share price has fallen 16% from VND66,000 to VND55,200 for a week. Meanwhile, there is a rumor about the company’s disappointing Q3 results.

Mizuki Park – The Biggest Contributor to Nam Long Growth

Mizuki Park – The Biggest Contributor to Nam Long Growth

PNJ: Analyst Meeting Updates on Q3 2017 Results

After the first nine months, PNJ recorded a revenue of VND7,755 billion (+31% YoY). Gross profit also increased 31% to VND1,347 billion and the PBT gained 42% to reach VND630 billion. In Q3 2017 alone, net revenue of PNJ was VND2,279 billion (+15% YoY). Gross profit and PBT were VND396 billion (+25 YoY) and VND158 billion (+14% YoY).