Frontier and emerging markets (Vietnam)

Dylan Waller

Nomadic Equity

Macroeconomics

The investment landscape of Vietnam has changed considerably since early 2016.  The country’s economic resilience is resulting in the country’s valuations topping its frontier peers in Asia and even trading on par with some of its emerging peers in Asia.  Thus, the prior 30-40% discount to emerging Asia case is slowly fading away as a result of the rise of the country’s stock market valuation in the past year.  It is imperative to note this fact, given that the "30-40% discount to emerging Asia"…

The investment landscape of Vietnam has changed considerably since early 2016.  The country’s economic resilience is resulting in the country’s valuations topping its frontier peers in Asia and even trading on par with some of its emerging peers in Asia.  Thus, the prior 30-40% discount to emerging Asia case is slowly fading away as a result of the rise of the country’s stock market valuation in the past year.  It is imperative to note this fact, given that the "30-40% discount to emerging Asia"…

Navigating Vietnam's New Investment Landscape

Chief Economist & Political Strategist, CrossASEAN Research

Prasenjit K. Basu

Chief Economist & Political Strategist

REAL-Economics.com

-The oil majors' favourite refining hub in ASEAN is Singapore, while the crude-oil/gas comes mainly from Indonesia, Malaysia and Brunei. Infusion of Saudi capital will help to partially redress that, although Saudi Arabia is only the 7th largest oil-refining country, and ARAMCO has moderate amounts of technological expertise (mainly from its ownership of S-Oil in Korea). -Malaysia and (especially) Indonesia have been wary of "Arabised" or Wahhabi Islam, and see Saudi offers to widen Arabic…

-The oil majors' favourite refining hub in ASEAN is Singapore, while the crude-oil/gas comes mainly from Indonesia, Malaysia and Brunei. Infusion of Saudi capital will help to partially redress that, although Saudi Arabia is only the 7th largest oil-refining country, and ARAMCO has moderate amounts of technological expertise (mainly from its ownership of S-Oil in Korea). -Malaysia and (especially) Indonesia have been wary of "Arabised" or Wahhabi Islam, and see Saudi offers to widen Arabic…

King Salman Bearing Gifts: Implications for ASEAN, Oil-Refining and Religion

Thematic (Sector/Industry)

Norway, Colombia, and Nigeria Amid Low Oil Prices The low oil price environment since late 2014 has put varying levels of strain on oil exporting countries and has also provided a benchmark of which countries have some of the most resilient oil producing companies.  As outlined in previous insights, I am bullish on several Vietnamese oil &amp; gas companies which have been able to fare well in this low oil price environment and could experience a strong rebound if oil prices rebound.  The World Bank…

Norway, Colombia, and Nigeria Amid Low Oil Prices  The low oil price environment since late 2014 has put varying levels of strain on oil exporting countries and has also provided a benchmark of which countries have some of the most resilient oil producing companies.  As outlined in previous insights, I am bullish on several Vietnamese oil &amp; gas companies which have been able to fare well in this low oil price environment and could experience a strong rebound if oil prices rebound.  The World Bank…

Overview of Opportunities in Asia, Africa, Latin America and Norway

Viet Capital Securities Joint Stock Company

Luan Nguyen

Independent Insight Provider

Equity Bottom-Up

Petrovietnam Drilling And We / Equity Bottom-Up

With OPEC production cut, oil stocks will benefit as oil prices recover. This is our first post on oil &amp; gas companies in Vietnam. Investors need to look beyond current earnings. Vietnam’s oil consumption demand still enjoys a good growth rate thanks to the economy growing at a fairly high level (5-6%) per year. Currently, 2/3 demand for Vietnam’s petroleum products are still imported and this opens up opportunities for O&amp;G industry companies to increase production capacity. The market uncertainty still affects business operations of PVD in the next 1-2 years, but in the long-term, from the end of 2018 onward, we believe that PVD will show some signs of improvement when oil prices exceeds USD60/barrel level. Besides, the end of 2018 and 2019 will be the time for a series of O&amp;G projects such as Ca Rong Do, Block B O Mon... going into operation. Hence, it will be a solid foundation for PVD to rediscover its growth potential.

With OPEC production cut, oil stocks will benefit as oil prices recover. This is our first post on oil &amp; gas companies in Vietnam. Investors need to look beyond current earnings. Vietnam’s oil consumption demand still enjoys a good growth rate thanks to the economy growing at a fairly high level (5-6%) per year. Currently, 2/3 demand for Vietnam’s petroleum products are still imported and this opens up opportunities for O&amp;G industry companies to increase production capacity. The market uncertainty still affects business operations of PVD in the next 1-2 years, but in the long-term, from the end of 2018 onward, we believe that PVD will show some signs of improvement when oil prices exceeds USD60/barrel level. Besides, the end of 2018 and 2019 will be the time for a series of O&amp;G projects such as Ca Rong Do, Block B O Mon... going into operation. Hence, it will be a solid foundation for PVD to rediscover its growth potential.

PVD Will Benefit from OPEC Production Cut

SGX Market Strategist, Equity & Fixed Income, Singapore Exchange Ltd (SGX)

Geoff Howie

SGX Market Strategist, Equity & Fixed Income

Asia’s leading multi-asset exchange

Singapore Exchange Ltd (SGX)

Singapore Exchange is Asia’s leading and trusted market infrastructure, facilitating the exchange of capital and ideas to create value for people, businesses and economies. As a multi-asset exchange operating equity, fixed income and derivatives markets to the highest regulatory standards, SGX is a vertically integrated business that provides listing, trading, clearing, settlement, depository and data services.

With about 40% of listed companies and over 80% of listed bonds originating outside of Singapore as well as established linkages across the region and in Europe, SGX is Asia’s most international and connected exchange. Offering a full suite of derivatives products across Asian equity indices, commodities and currencies, SGX is the world’s most liquid international market for the benchmark equity indices of China, India, Japan and ASEAN.

As Asia’s pioneering central counterparty, SGX is globally recognised for its risk management and clearing capabilities, and was one of the first globally to adopt the Principles for Financial Market Infrastructure.

Headquartered in AAA-rated Singapore, SGX has over 800 employees including offices in Beijing, Chicago, Hong Kong, London, New York, Mumbai, San Francisco, Shanghai and Tokyo.

SGX lists four Upstream Coal Plays: Geo Energy Resources, Resources Prima Group, BlackGold Natural Resources and Golden Energy &amp; Resources.Geo Energy Resources has been the strongest performer among the four upstream plays in the 2016 year to date with a 37.9% gain. On 12 August,  Geo Energy Group reported that for the six months ending 30 June 2016, company revenue was US$33 million compared to US$10 million for the same period a year ago.

SGX lists four Upstream Coal Plays: Geo Energy Resources, Resources Prima Group, BlackGold Natural Resources and Golden Energy &amp; Resources.Geo Energy Resources has been the strongest performer among the four upstream plays in the 2016 year to date with a 37.9% gain. On 12 August,  Geo Energy Group reported that for the six months ending 30 June 2016, company revenue was US$33 million compared to US$10 million for the same period a year ago.

Geo Energy Resources Led Upstream Coal Plays in 2016 YTD

Vietnam

PetroVietnam Drilling and Well Services JSC offers technical services to the oil and natural gas industry.  The Company offers drilling and work-over contracting; chartering and operating drilling rigs; well testing, cementing, wire-line logging, tubular handling and other services; and engineering, fabrication, installation, inspection, refurbishment and maintenance of tools.

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Petrovietnam Drilling And We (PVD VN)

Navigating Vietnam's New Investment Landscape

The investment landscape of Vietnam has changed considerably since early 2016. The country’s economic resilience is resulting in the country’s...

Nomadic Equity

King Salman Bearing Gifts: Implications for ASEAN, Oil-Refining and Religion

-The oil majors' favourite refining hub in ASEAN is Singapore, while the crude-oil/gas comes mainly from Indonesia, Malaysia and Brunei. Infusion...

Prasenjit K. Basu

Overview of Opportunities in Asia, Africa, Latin America and Norway

Norway, Colombia, and Nigeria Amid Low Oil PricesThe low oil price environment since late 2014 has put varying levels of strain on oil exporting...

Nomadic Equity

PVD Will Benefit from OPEC Production Cut

With OPEC production cut, oil stocks will benefit as oil prices recover. This is our first post on oil & gas companies in Vietnam. Investors...

Luan Nguyen

Geo Energy Resources Led Upstream Coal Plays in 2016 YTD

SGX lists four Upstream Coal Plays: Geo Energy Resources, Resources Prima Group, BlackGold Natural Resources and Golden Energy & Resources.Geo...

Singapore Exchange Ltd (SGX)

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