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>Recently, HSX announced updated component securities (including change in component stocks and calculation factors) in the VN30 Index, VNDiamond Index, and VNFin Lead Index baskets.</li><li>In detail, these changes will affect the component weighting in specific baskets.</li><li>Therefore, ETFs that are replicating the respective index will also have similar structural changes in their basket of component securities on the rebalancing date. </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>

Recently, HSX announced updated component securities (including change in component stocks and calculation factors) in the VN30 Index, VNDiamond Index, and VNFin Lead Index baskets.In detail, these changes will affect the component weighting in specific baskets.Therefore, ETFs that are replicating the respective index will also have similar structural changes in their basket of component securities on the rebalancing date. 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.

Equity Bottom-Up

<ul><li>Nam Long Investment Corporation (NLG) reported 9M23 revenue of VND1,545n (-43% YoY) and NPAT of the parent of VN193bn (+62.7% YoY).</li><li>The majority of reported revenue came from the handover of Waterpoint, at a value of VND1,051bn (100 units), with the remainder coming from Akari, at VND55bn (20 units), and other revenue of VND238bn.</li><li>Despite the steep drop in revenue, NPAT was well–managed, thanks to the following:</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>

Nam Long Investment Corporation (NLG) reported 9M23 revenue of VND1,545n (-43% YoY) and NPAT of the parent of VN193bn (+62.7% YoY).The majority of reported revenue came from the handover of Waterpoint, at a value of VND1,051bn (100 units), with the remainder coming from Akari, at VND55bn (20 units), and other revenue of VND238bn.Despite the steep drop in revenue, NPAT was well–managed, thanks to the following: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.

Nam Long Investment Corporation (NLG VN Equity - Hold) - Pre-Sales Picked Up

<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

External broker reports(aggregated public sources), Rong Viet Securities

Rong Viet Securities

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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.

<ul><li>In Q2023, NLG had revenue of VND 231 bn form real estate products (USD 8.3mn, - 60% YoY), reflecting the difficulty in the market.</li><li>The revenue's breakdown included VND 30bn from the handover of Southgate project; VND 11bn from other projects (Flora Novia) and VND 67bn from other services (including service charge, rental fees).</li><li>The company's NPAT came in at VND 16bn (-51% YoY). NLG has recognized a net loss of VND 19 bn in EBIT, but offset by profit from associates,  with VND 78bn from Mizuki Park (handing over 413 apartments in blocks MP6-7-8).</li></ul><p><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></p>

In Q2023, NLG had revenue of VND 231 bn form real estate products (USD 8.3mn, - 60% YoY), reflecting the difficulty in the market.The revenue's breakdown included VND 30bn from the handover of Southgate project; VND 11bn from other projects (Flora Novia) and VND 67bn from other services (including service charge, rental fees).The company's NPAT came in at VND 16bn (-51% YoY). NLG has recognized a net loss of VND 19 bn in EBIT, but offset by profit from associates,  with VND 78bn from Mizuki Park (handing over 413 apartments in blocks MP6-7-8).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.

NLG - Being Patient: Preceding the Recovery

<ul><li>Nam Long Investment Corporation (NLG) reported 1H23 revenue of VND1,188n (-35% YoY) and NPAT of the parent of VN127bn (+15% YoY).</li><li>The majority of reported revenue came from the handover of Waterpoint, at a value of VND931bn (88 units).</li><li>Although reported revenue fell quite significantly, NPAT advanced slightly, thanks to the higher gross margin (from 44% to 61% YoY) of Waterpoint’s townhouse and villa products. </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>

Nam Long Investment Corporation (NLG) reported 1H23 revenue of VND1,188n (-35% YoY) and NPAT of the parent of VN127bn (+15% YoY).The majority of reported revenue came from the handover of Waterpoint, at a value of VND931bn (88 units).Although reported revenue fell quite significantly, NPAT advanced slightly, thanks to the higher gross margin (from 44% to 61% YoY) of Waterpoint’s townhouse and villa products. 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.

Nam Long Investment Corporation (NLG VN / Hold) - Pre-Sales Remained Challenging

Vietnam

Nam Long Investment Corp operates in the real estate investment and development industry. The Company offers apartment buildings, villas, resorts, office buildings, and more. Name Long Investment serves customers throughout the Country of Vietnam.

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Nam Long Investment (NLG VN)

ETFs Monitor in 2Q24

Recently, HSX announced updated component securities (including change in component stocks and calculation factors) in the VN30 Index, VNDiamond...

Mirae Asset Securities

Nam Long Investment Corporation (NLG VN Equity - Hold) - Pre-Sales Picked Up

Nam Long Investment Corporation (NLG) reported 9M23 revenue of VND1,545n (-43% YoY) and NPAT of the parent of VN193bn (+62.7% YoY).

Mirae Asset Securities

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

NLG - Being Patient: Preceding the Recovery

In Q2023, NLG had revenue of VND 231 bn form real estate products (USD 8.3mn, - 60% YoY), reflecting the difficulty in the market.

Rong Viet Securities

Nam Long Investment Corporation (NLG VN / Hold) - Pre-Sales Remained Challenging

Nam Long Investment Corporation (NLG) reported 1H23 revenue of VND1,188n (-35% YoY) and NPAT of the parent of VN127bn (+15% YoY).

Mirae Asset Securities

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