External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Overview: Joint Stock Commercial Bank For Foreign Trade Of Vietnam (Vietcombank - VCB) officially came into operation on 1 April 1963.</li><li>Being the first state commercial bank chosen for pilot privatization by the Government, JSCB for Foreign Trade of Vietnam has come into operation as a commercial joint stock bank since June 02, 2008, after successfully implementing the equitization plan through IPO.</li><li>VCB has been listed and traded on the Ho Chi Minh City Stock Exchange since 2009.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Overview: Joint Stock Commercial Bank For Foreign Trade Of Vietnam (Vietcombank - VCB) officially came into operation on 1 April 1963.Being the first state commercial bank chosen for pilot privatization by the Government, JSCB for Foreign Trade of Vietnam has come into operation as a commercial joint stock bank since June 02, 2008, after successfully implementing the equitization plan through IPO.VCB has been listed and traded on the Ho Chi Minh City Stock Exchange since 2009.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Stock Recommendations (Vietnam Market)_August 2024

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>Viettel Construction (CTR VN) and EVN Finance (EVF VN) will be added to the MarketVector Vietnam Local Index at the close on 21 June.</li>
<li>Estimated one-way turnover is 5.2% and that results in a one-way trade of US$27m. There are 3 stocks with more than 1x ADV to buy from passives.</li>
<li>There will be over US$1m to buy in <a href="https://www.smartkarma.com/entities/vinhomes-jsc" target="_blank" data-smartkarma-citation="entities:27079:1" rel="noopener">Vinhomes (VHM VN)</a>, <a href="https://www.smartkarma.com/entities/bank-for-foreign-trade-of-vietnam" target="_blank" data-smartkarma-citation="entities:23054:1" rel="noopener">Bank for Foreign Trade of Vietnam (VCB VN)</a> and <a href="https://www.smartkarma.com/entities/vingroup-jsc" target="_blank" data-smartkarma-citation="entities:13213:1" rel="noopener">Vingroup Jsc (VIC VN)</a>. </li>
</ul>


Viettel Construction (CTR VN) and EVN Finance (EVF VN) will be added to the MarketVector Vietnam Local Index at the close on 21 June.
Estimated one-way turnover is 5.2% and that results in a one-way trade of US$27m. There are 3 stocks with more than 1x ADV to buy from passives.
There will be over US$1m to buy in Vinhomes (VHM VN), Bank for Foreign Trade of Vietnam (VCB VN) and Vingroup Jsc (VIC VN). 


MarketVector Vietnam Local Index Rebalance: Two Adds and Other Changes

<ul><li>Overview: JSCB for Investment and Development of Vietnam (BIDV), formerly known as Bank for Construction of Vietnam under the MoF, was established in 1957.</li><li>BIDV has been put into operation under the model of a JSCB since 2012. I</li><li>t has been listed on HOSE since 2014. By the end of 2022, its outstanding credit reached VND1.98qa, accounting for over 12.87% of the total credit in the economy, making it the market leader in credit market share.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Overview: JSCB for Investment and Development of Vietnam (BIDV), formerly known as Bank for Construction of Vietnam under the MoF, was established in 1957.BIDV has been put into operation under the model of a JSCB since 2012. It has been listed on HOSE since 2014. By the end of 2022, its outstanding credit reached VND1.98qa, accounting for over 12.87% of the total credit in the economy, making it the market leader in credit market share.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Stock Recommendations (Vietnam Market) - October 2023

Equity Bottom-Up

<ul><li>In 6M23, IDICO Corporation - JSC (IDC) recorded consolidated revenue and NPATMI of VND3,554bn (- 28.7% YoY) and VND681bn (-59.5% YoY), respectively.</li><li>Revenue from the industrial park segment fell sharply, by 65% YoY to VND1,061bn, due to the lack of retroactive recognition of the Nhon Trach 5, Phu My 2, and Phu My 2 expansion industrial parks (IPs).</li><li>In addition, the profit margins of the abovementioned IPs were higher than those of the sales of Huu Thanh IP in 1H23. </li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

In 6M23, IDICO Corporation - JSC (IDC) recorded consolidated revenue and NPATMI of VND3,554bn (- 28.7% YoY) and VND681bn (-59.5% YoY), respectively.Revenue from the industrial park segment fell sharply, by 65% YoY to VND1,061bn, due to the lack of retroactive recognition of the Nhon Trach 5, Phu My 2, and Phu My 2 expansion industrial parks (IPs).In addition, the profit margins of the abovementioned IPs were higher than those of the sales of Huu Thanh IP in 1H23. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

IDICO Corporation - JSC - The Market Heats Up

<ul><li>As a member of the Vietnam National Oil and Gas Group, the PV Gas Company was founded in 1990, with the mission of extracting, shipping, processing, storing, and selling gas and gas products.</li><li>The company was listed on HOSE in May 2012. PVGAS is the main supplier of dry gas to Vietnam's power facilities and fertilizer factories.</li><li>GAS will pay a FY23 cash dividend of 20% and stock dividend of 20%, increasing the outstanding shares to 2.29bn and marking the first time GAS has raised its charter capital since being listed. </li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

As a member of the Vietnam National Oil and Gas Group, the PV Gas Company was founded in 1990, with the mission of extracting, shipping, processing, storing, and selling gas and gas products.The company was listed on HOSE in May 2012. PVGAS is the main supplier of dry gas to Vietnam's power facilities and fertilizer factories.GAS will pay a FY23 cash dividend of 20% and stock dividend of 20%, increasing the outstanding shares to 2.29bn and marking the first time GAS has raised its charter capital since being listed. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Stock Recommendations (Vietnam Market)_August 2023

Vietnam

IDICO Corporation - JSC invests in and develops urban infrastructure, economic zone, and residential projects in Vietnam. It engages in the provision of industrial zone development, investment, hydropower, transportation, housing and urban area, and construction and installation services. The company was formerly known as Vietnam Urban and Industrial Zone Development Corporation. IDICO Corporation - JSC was founded in 2000 and is headquartered in Ho Chi Minh City, Vietnam.

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IDICO Corp (IDC VN)

Stock Recommendations (Vietnam Market)_August 2024

Joint Stock Commercial Bank For Foreign Trade Of Vietnam (Vietcombank - VCB) officially came into operation on 1 April 1963.

Mirae Asset Securities

MarketVector Vietnam Local Index Rebalance: Two Adds and Other Changes

Viettel Construction and EVN Finance will be added to the index at the close on 21 June. Estimated one-way turnover is 5.2% and that results in a...

Brian Freitas

Stock Recommendations (Vietnam Market) - October 2023

JSCB for Investment and Development of Vietnam (BIDV), formerly known as Bank for Construction of Vietnam under the MoF, was established in 1957.

Mirae Asset Securities

IDICO Corporation - JSC - The Market Heats Up

In 6M23, IDICO Corporation - JSC (IDC) recorded consolidated revenue and NPATMI of VND3,554bn (- 28.7% YoY) and VND681bn (-59.5% YoY), respectively.

Mirae Asset Securities

Stock Recommendations (Vietnam Market)_August 2023

As a member of the Vietnam National Oil and Gas Group, the PV Gas Company was founded in 1990, with the mission of extracting, shipping,...

Mirae Asset Securities

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