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

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Equity Bottom-Up

Petrovietnam Technical Servi / Equity Bottom-Up

The M&amp;C segment will see falling revenues as there are not many new projects to be recorded However, the gross margin will improve thanks to the contribution of Sao Vang - Dai Nguyet – an offshore project. For 2018, some PVS businesses will incur losses such as Seismic, GEO Survey while other ones are suffering from low service prices due to the fierce competition. As a result, Rong Viet Securities believes that 2018 will not be a “bright” year for the company. In the long term, oil prices are…

The M&amp;C segment will see falling revenues as there are not many new projects to be recorded However, the gross margin will improve thanks to the contribution of Sao Vang - Dai Nguyet – an offshore project. For 2018, some PVS businesses will incur losses such as Seismic, GEO Survey while other ones are suffering from low service prices due to the fierce competition. As a result, Rong Viet Securities believes that 2018 will not be a “bright” year for the company. In the long term, oil prices are…

PVS - Catalyst from Key Oil & Gas Projects

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

Viet Capital Securities Joint Stock Company

Luan Nguyen

Independent Insight Provider

Petro Vietnam Technical Services Corporation PTSC (PVS) has been established since 1994. The corporation is a member of the Vietnam Oil &amp; Gas Group (PVN) with the key task of providing technical services for the domestic and foreign oil and gas industry. PVS is considered a leading corporation in the field of providing oil &amp; gas technical services in Vietnam. The corporation currently owns and operates the biggest oil and gas technical services fleet in the country.

Petro Vietnam Technical Services Corporation PTSC (PVS) has been established since 1994. The corporation is a member of the Vietnam Oil &amp; Gas Group (PVN) with the key task of providing technical services for the domestic and foreign oil and gas industry. PVS is considered a leading corporation in the field of providing oil &amp; gas technical services in Vietnam. The corporation currently owns and operates the biggest oil and gas technical services fleet in the country.

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

Vietnam

PetroVietnam Technical Services Corp provides services to petroleum companies. The Company is involved in leasing and chartering, operation and maintenance, properties management and mineral water production.

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Petrovietnam Technical Servi (PVS VN)

PVS - Catalyst from Key Oil & Gas Projects

The M&C segment will see falling revenues as there are not many new projects to be recorded However, the gross margin will improve thanks to...

Rong Viet Securities

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

PVS - Long Term Potential in Oil & Gas

Petro Vietnam Technical Services Corporation PTSC (PVS) has been established since 1994. The corporation is a member of the Vietnam Oil & Gas...

Luan Nguyen

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

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