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Rong Viet Securities

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External broker reports(aggregated public sources)

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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.

Thematic (Sector/Industry)

Rong Viet Securities Corporation hereby presents the Result Update on PetroVietnam Transportation Corp JSC (HSX: PVT) with the overall opinion as follows:“The operation of Nghi Son will add more jobs for PVT as the company will be in charge of transporting the crude oil input as well as the gasoline products output. Besides, the leasing rate’s adjustment of the FSO Dai Hung Queen from 2018 will push up the net profit of PVT in the future. Moreover, the high possibility of lifting the charter rate for the domestic routes in 2H 2018 will also support for the company’s business. Regarding to bulk shipping, the fierce competition prevents PVT from expanding the operation as the initial plan.Not only the positive general business, the divestment story in 2019-2020 is also a good news for stock price. Based on the target price of VND 21,200 per share and the expected cash dividend of VND 700 per share, generating a total return of 26.2%, compared to the closing price on Sep 6th 2018, we recommend BUY the stock.

Rong Viet Securities Corporation hereby presents the Result Update on PetroVietnam Transportation Corp JSC (HSX: PVT) with the overall opinion as follows:“The operation of Nghi Son will add more jobs for PVT as the company will be in charge of transporting the crude oil input as well as the gasoline products output. Besides, the leasing rate’s adjustment of the FSO Dai Hung Queen from 2018 will push up the net profit of PVT in the future. Moreover, the high possibility of lifting the charter rate for the domestic routes in 2H 2018 will also support for the company’s business. Regarding to bulk shipping, the fierce competition prevents PVT from expanding the operation as the initial plan.Not only the positive general business, the divestment story in 2019-2020 is also a good news for stock price. Based on the target price of VND 21,200 per share and the expected cash dividend of VND 700 per share, generating a total return of 26.2%, compared to the closing price on Sep 6th 2018, we recommend BUY the stock.

[Result Update] PVT - Operation of Nghi Son Adding More Jobs from 2019