Market down on fragile confidence

Viet Nam News HÀ NỘI - Open-end funds operating in Việt Nam have recorded a positive 2016 with rate of returns of some funds outperforming the growth of the benchmark VN-Index on the HCM Stock Exchange. The VN-Index closed last year up 14.8 per cent over December 31, 2015. This is the general profitability of the market but actual earnings depended on the portfolios of investors. Open-end funds were among few traders who beat the growth of the Index in 2016. SSI Sustainable Competitive Advantage Fund (SSI-SCA) reported the highest growth rate in net asset value (NAV) of 24.3 per cent as of January 5, 2017, its best result since it began operating in 2014. The fund, managed by SSI Asset Management Co Ltd, focusses on investments in companies with sustainable competitive advantages and fixed income assets. According to the fund's November report, four top holdings of the funds accounted for 33.2 per cent of its total portfolio, including steelmaker Hòa Phát Group (HPG), 13.7 per cent; Dabaco Group (DBC), 8.7 per cent; dairy firm Vinamilk (VNM), 5.9 per cent; and Coteccons Construction JSC (CTD), 4.9 per cent. Except Vinamilk which declined 2 per cent, the other three stocks posted big gains last year with price rises of between 19 per cent and 50 per cent, of which HPG and DBC increased 50 per cent and 41 per cent, respectively by the end of December. The second most profitable fund in 2016 was a fund managed by VietFund, Vietnam Securities…... [read more]

Diamond Island has six towers, typical apartments with single, double or triple bedroom, Pool Villas, Garden Villas and Sky Villas. Each tower is smartly located and designed to bring the best values to the residents. Bora Bora, expected to be completed in the second quarter of 2018, consists of 261 typical apartments with one, two or three bedrooms with apartment sizes ranging from 51-142 square metres and Pool Villas, Garden Villas and Sky Villas with private pool and garden. The tower is the combination of natural terrain, feng shui principles and modern designation. Diamond Island is the only island with vast green spaces and proximity to nature. It also provides plentiful spaces for family activities and recreation with the green density 16 square metres per person, beyond the standardof most famous green countries in the world such as Singapore, Japan, South Korea, offering desirable fresh air with 86.5 per cent of the total 8-hectare area covered by green space and community facilities. Set along the shores of the Saigon River, Bora Bora is where dwellers can enjoy the best view of sunrise as well as the Saigon River in Ho Chi Minh City. The view is therapeutic, can relieve cancer, strengthen bones and improve brain functions for elders. At Bora Bora, residents can relax at the pools, or take part in exciting tennis or basketball games at a range of excellent facilities for families, including a 2300 square-metre resort swimming pool including a 50-metre lap pool, riverside promenade, BBQ Garden,…... [read more]

Apartments in the Bora Bora tower, the second tower of Kusto Home’s Diamond Island project will be launched on sale on November 26. The most beautiful view of sunrise at Bora Bora Diamond Island has six towers, 1,275 apartments, Pool Villas, Garden Villas, Sky Villas and Penthouse. Each tower is smartly located and designed to bring the best values to the residents. Bora Bora, expected to be completed in the second quarter of 2018, consists of 261 luxury apartments with single, double or triple bedroom with apartment sizes ranging from 51-142 square metres and Pool Villas, Garden Villas and Sky Villas with private pool and garden. The tower is the combination of natural terrain, feng shui principles and modern designation. Diamond Island is the only island with vast green spaces and proximity to nature. It also provides plentiful spaces for family activities and recreation with the green density 16 square metres per person, beyond the international standard, offering desirable fresh. Set along the shores of the Saigon River, Bora Bora is where dwellers can enjoy the best view of sunrise in Ho Chi Minh City. The view is therapeutic and is especially good for elders. Bora, residents can relax at the pools, or take part in exciting tennis or basketball games at a range of excellent facilities for families, including a 2300 square-metre resort swimming pool including a 50-metre lap pool, promenade, BBQ Garden, Infinity Pool, Zen garden, Outdoor Jacuzzi, Spa and, Sport Complex. Amenities for children include the Pirate…... [read more]

India unlikely to impose anti-dumping duty on Vietnamese batteries The Directorate General of Anti-dumping and Allied Duties (DGAD) under the Indian Ministry of Commerce and Industry has recommended not to impose anti-dumping duty on AA dry cell batteries imported from China and Vietnam. The Vietnam Competition Authority cited the DGAD's announcement on the final findings of its probe on batteries imported from the two countries as saying that imposition of the duty on the imports "is not required". The DGAD found that the imported products did not caused significant damage to the domestic industry. Though during the period of investigation (from April 1, 2014 to March 31, 2015, significant volume of the imports entered the Indian market at dumped prices, it has not impacted the domestic industry as it caters to a different market segment, the DGAD said. The complaint against Vietnamese and Chinese batteries was filed by the Association of Indian Dry Cell Manufacturers. HCMC proposes tax incentives to reduce E5 petrol price The HCMC Department of Industry and Trade has proposed the city's authorities ask the Government to assign related ministries to draw up new tax incentives supporting ethanol producers to reduce the price of E5 bio-fuel. The policies including reduction or exemption of tax and environment fee with an aim to encourage people to use the bio-fuel rather than the equivalent fossil fuel A92 in the process of completely replacing A92 with E5. Currently, the city has three major units producing and supplying E5. According to their…... [read more]

Viet Nam News HÀ NỘI - Shares sank for a second day on the two national stock exchanges, likely caused by declining liquidity that raised investor caution ahead of October economic data expected to be released next week. The benchmark VN-Index, the measure of 312 stocks on the HCM Stock Exchange, was down 0.2 per cent and closed at 684.8 points. It was down 0.4 per cent on Thursday. On the Ha Noi Stock Exchange, the HNX-Index's 379 stocks decreased 1 per cent to 84.2 points. The index also lost 0.5 per cent in the previous trade. Overall market conditions were negative with 276 of the total 692 stocks declining while 154 advanced. Large-cap stocks continued to perform negatively. Some 19 of the 30 largest stocks by market capitalisation slumped while only seven climbed. A number of the highest valued stocks--like dairy firm Vinamilk (VNM), private equity Masan Group (MSN), property developer VinGroup (VIC), Vietinbank (CTG), steelmaker Hòa Phát Group (HPG)--sank for most of the trading period as investor psychology proved rattled. A large share volume of VinGroup continued to be traded through negotiation yesterday. Over 8.4 million VIC shares worth VNĐ361.7 billion (US$16.2 million) changed hands, lifting total negotiation value in the past four trades to nearly VND2.2 trillion. VIC shares slipped for a second day, down 0.7 per cent yesterday. Its price lost 1.8 per cent in the last two sessions. A total of 173.4 million shares worth nearly VNĐ2.8 trillion traded in the two markets, up 2.3…... [read more]

Coteccons Construction JSC (Coteccons) plans to issue 16.37 million bonus shares at an issuance ratio of 3:1 for shareholders to increase its equity. — Photo cafef.vn HA NOI (Biz Hub) — Coteccons Construction JSC (Coteccons) plans to issue 16.37 million bonus shares at an issuance ratio of 3:1 for shareholders to increase its equity. That means each shareholder will receive one new share for every three shares that they own. The total value of the bonus shares is in the region of VND2.6 trillion (US$115.5 million). Funding for the issuance will be deducted from the company's share premium, which was more than VND1.38 trillion at the end of last year. Coteccons will finalise the list of shareholders to receive the new shares on October 18. The company's employees have recently received VND530 billion worth of 2.4 million shares from the employee stock ownership plan. The company's shares, listed as CTD on the HCM Stock Exchange, yesterday jumped 3.9 per cent to close at VND269,700 after the plan was published. — VNS... [read more]

Viet Nam News HÀ NỘI - Vietnamese shares recovered from a two-day decline as steel producers advanced on Government's support and higher second-quarter performances. The benchmark VN Index on the HCM Stock Exchange rose 1.4 per cent to finish at 673.50 points. The southern market index declined by 1.6 per cent in the previous two sessions. The HNX Index on the Hà Nội Stock Exchange edged up 0.5 per cent to close at 87.05 points, rebounding after a two-day fall of 0.9 per cent. Top steel producers such as Hòa Phát Group (HPG), Hoa Sen Group (HSG), Tiến Lên Steel Corp (TLH), Việt Nam-Germany Steel Pipe JSC (VGS), SMC Investment Trading JSC (SMC) and Việt Nam-Italy Steel JSC (VIS) took turns to drive markets up. "Steel companies rose on expectations that the local steel industry will improve after the Ministry of Industry and Trade yesterday issued a decision to impose a four-year safeguard tax on imported steel products," Bảo Việt Securities Corp (BVSC) wrote in its daily report. Confidence in steel stocks has been high during the past four months since the ministry in March issued a temporary tariff on imported steel products and global prices increased. Some of the listed steel producers have reported higher profits for the second quarter of the year and they are heading to better results during the remaining months. TLH late last week reported a net profit of VNĐ155 billion (US$6.9 million), an increase of 47.6 per cent from the first quarter. SMC earned…... [read more]

Da Nang seeks investment from Singapore The central city promises to create smooth conditions and top priorities for Singapore's investors in the fields of high-tech, information technology, renewable energy and high quality education. Vice Chairman of the city's people's committee Ho Ky Minh said in a seminar on ‘Investment Opportunities in Da Nang' in Singapore on July 12. Minh said the city will make a strong commitment in building available infrastructure, administrative reforms, preferential treatment and skilled labour, for wooing investors from Singapore. He said the city will boost transparency and publicity in offering preferential favours, labour cost and investment fee for investors. Ricky Tan, CEO of Kinderworld Education Group, said Da Nang is a potential destination for foreign investors in Viet Nam, and the group expected to expand investment in Da Nang in the coming year. The group, the biggest Singaporean investor in the education and training sector in Viet Nam, has invested US$40 million in the construction and operation of 15 training facilities in Ha Noi, Da Nang, Ho Chi Minh City and Binh Duong. It established the Pegasus International UniCollege (PIU) in Da Nang in 2014, along with its KinderWorld International Kindergarten (KIK) and the Singapore International School (SIS) to provide a world class educational system from pre-school to university levels in the city. The head of the representative office of Foreign Trade Bank of Viet Nam, Vietcombank, Vu Thi Bich Thu confirmed that the bank in co-operation with Da Nang city is looking to create favourable…... [read more]

HÀ NỘI - More stocks with outstanding growth rates joined 'Club 100' (stock valued from VNĐ100,000 or US$4.4 each on the bourses), along with the gain of the local market. As of July 13, the VN-Index reached its nine-year high of 675.12 points, while several shares also saw major gains. Before 2016, seven shares of Coteccons Construction Joint Stock Company (CTD), Bình Minh Plastic Joint-Stock Company (BMP), Việt Nam Dairy Products Joint Stock Company (VNM), and Vinacafé Biên Hòa Joint Stock Company (VCF), besides West Coach Station Joint Stock Company (WCS), Nội Bài Cargo Terminal Service Joint Stock Company (NCT) and Đà Nẵng Airports Services Joint Stock Company (MAS) had joined Club 100. This year, the club has seen more new members. Another six shares of Traphaco Joint Stock Company (TRA), Việt Nam Electric Cable Corporation (CAV), National Seed Joint Stock Company (NSC) as well as Sơn La Sugar JSC (SLS), Phú Tài Joint Stock Company (PTB) and Mobile World Investment Corporation (MWG) have also entered the club. Sơn La Sugar JSC, made the most impressive growth with a 157 per cent rise from VNĐ49,500 to VNĐ127,000, along with the growth of sugar stocks in the first half, thanks to the thriving business that benefited from the El Nino phenomenon and recovering sugar prices. The National Seed Joint Stock Company, which is involved in the agricultural sector, has been one of the few listed companies posting stable growth for many years. Even though the national agricultural sector faced difficulties last…... [read more]

The National Seed Joint Stock Company, involving in the agricultural sector with stable growth, joins Club 100. — Photo cafef.vn HA NOI (Biz Hub) — More stocks with outstanding growth rates joined 'Club 100' (stock valued from VND100,000 each on the bourses), along with the gain of the local market. As of July 13, the VN-Index reached its nine-year high of 675.12 points, while several shares also saw major gains. Before 2016, seven shares of Coteccons Construction Joint Stock Company (CTD), Binh Minh Plastic Joint-Stock Company (BMP), Viet Nam Dairy Products Joint Stock Company (VNM), and Vinacafé Bienhoa Joint Stock Company (VCF), besides West Coach Station Joint Stock Company (WCS), Noi Bai Cargo Terminal Service Joint Stock Company (NCT) and Danang Airports Services Joint Stock Company (MAS) had joined Club 100. This year, the club has seen more new members. Another six shares of Traphaco Joint Stock Company (TRA), CAV, National Seed Joint Stock Company (NSC) as well as Son La Sugar JSC (SLS), Phu Tai Joint Stock Company (PTB) and Mobile World Investment Corporation (MWG) have also entered the club. Son La Sugar JSC, made the most impressive growth with a 157 per cent rise from VND49,500 to VND127,000, along with the growth of sugar stocks in the first half, thanks to the thriving business that benefited from the El Nino phenomenon and recovering sugar prices. The National Seed Joint Stock Company, which is involved in the agricultural sector, has been one of the few listed companies posting stable…... [read more]




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