Vietnam Share Discussion Threads

[don muang] 12/2/2007 16:21

Vietnam Investor Report


RNS Number:1209R
VietNam Holding Limited
12 February 2007

Vietnam Holding Limited (the "Company")

Investor Report

A report detailing the activities of the Company for the month of January 2007
has been issued by Vietnam Holding Asset Management Limited, the investment
manager of the Company. Electronic copies of the report have been made
available to shareholders on the Company's website at
www.vietnamholding.com/News.htm


(seems it's now 32.9% invested)

[don muang] 06/2/2007 16:03

NAV for end Jan announced at US$ 2.239 for VNH.
So with mid-price presently at $ 2.91 we get a premium of about 30%.

also announced today the VOF NAV for end Jan. That was $2.92. So with mid-price $ 3.992 gives a premium for VOF of about 37%.

Those mid-prices are as at 16.00 at which time VNH was up 2.1% and VOF down 2.6% so far today.

Perhaps by next NAV announcement the differential in premiums between VNH and VOF will be even less...

[Abuse team] 04/2/2007 03:18

Post removed by ADVFN

[don muang] 03/2/2007 11:22

Swiss-based Asset Management Consulting AG Aaa has received approval to open a representative office in Ho Chi Minh City and invest in the Vietnamese stock market....


So the Swiss still seem keen to invest in Vietnam. Asset Management Consulting AG and Vietnam Holding Asset Management Ltd (the company who manages VNH fund) will both have offices in Zurich and Ho Chi Minh City.

[don muang] 31/1/2007 11:40

interesting spread presently .... 2.82 / 2.83 - can't recall a time I've seen it as small ....

[don muang] 30/1/2007 06:57

yeep, does look like short term positive sentiment has returnd - as the index is back over the 1,000 mark today: 1,022.40 ( +26.850 / +2.697%)

[don muang] 29/1/2007 15:06

with sentiment the way it is .... perhaps not .... unless there is a macro crisis ....

[grippa] 29/1/2007 14:45

Missed the correction! However we actually have'nt seen much of a correction in HCM index. Think we might get another chance to pick up some cheaper shares?

[don muang] 25/1/2007 10:10

number of VN funds available to purchase in UK are limited... (LDC are not proceeding with their VN fund now). so unless sentiment tanks completely then we can expect some sort of premium on VNH for the foreseeable future. perhaps the premium will settle down in the 10 - 15% range. then we can look forward to the share price increasing as Vietnam establishes itself in the China/Asian Century...

[huntie2] 25/1/2007 08:29

pullback to be expected, hopefully market/stock will form a base to enable further long term solid gains. will certainly be holding long term!

[don muang] 24/1/2007 10:41

that's what exuberance does ....
however, don't think there'll be any more months with 50% gains in them .... I'll settle for average compound increase of 50% per annum from now on ....

[grippa] 24/1/2007 10:36

50% in a month!!! Crazy

[don muang] 24/1/2007 09:03

well, slight downward move this morning: 1,016.39 (-24.310 /-2.336%)

not sure it's a good sign seeing this in newspaper articles:
"securities companies remain optimistic about the upward market trend, forecasting the index would rocket to 1,500 points this month as investors continued to open new accounts for stock trading"

[huntie2] 23/1/2007 08:16

onwards and still upwards......surely a short term correction due soon!

[don muang] 23/1/2007 08:00

"Asian shares close mixed, sentiment negative after Wall St fall".

However, despite US falling last night, then VN made new high this morning ...
Value 1,040.70. Change 13.000 (1.265%).

[don muang] 22/1/2007 17:01

not bad for today ... VNH up 5.2% (VOF up 0.5%)

so nowlet's see what happens to the US markets this evening and VN tomorrow morning ....

[don muang] 22/1/2007 13:43

PS: The following Bloomberg page updates once per day (after the VN exchange has closed) to give that days VN Index:


as you can see, the index has already increased tenfold in less than seven years ....

[don muang] 22/1/2007 13:35

Hi, Simon. Long term .... great potential with many of the state owned industries being partially privatised over the next few years - but short term all on sentiment - which as you know is presently 'exhuberant'. Could continue up short term as well if no significant negative local or macroeconomic 'events'. So not sure if I'd buy in now if not already a holder -but happy to continue to hold indefinitely.
With it being a $ Euroclear stock then costs in £ really don't make it worth 'trading' in/out of it unless you think there'll be major short term moves.

[mart] 22/1/2007 13:34

Nice to see the chart trending so strongly; happy to remain holding.

[simon gordon] 22/1/2007 13:26

Hi Don

What are your thoughts on the state of the Nam economy - is it close to overheating?

I see VNH make a very healthy cut for managing the fund. It's a pity no iShare is available.

The JP Morgan Fleming investment trusts for Russia and India have just about trebled since 2004 - could VNH achieve this?

Thank you

[don muang] 22/1/2007 13:15

nice to see some more posters on this thread.... also nice to see VNH up3.3% so far today ...
let's see if VNH can invest their remaining cash 'wisely' - apparently LDC are not going ahead with their Vietnam Fund now (the one I mentioned in post 69) as they've said it's presently difficult to find good value opportunities ...

[simon gordon] 22/1/2007 12:40

In Business on Radio 4 last night broadcast a show looking at Nam's great growth story. I think if you hit the 4 website it should be in the archives.

-------

Mr. Faber, publisher of the Gloom Boom & Doom Report, does have some favourites. Singapore and Vietnam are his top picks in Asia because stocks in Singapore aren't "terribly expensive compared with interest rates" in the city-state, while Vietnam's equities have "incredible potential in the long run."



------

The Vietnamese government aims to increase the value of its stock market from 6 percent of GDP at present to between 20 and 30 percent over the next four years,
according to Tran Dac Sinh, director of the Ho Chi Minh City Securities Trading Centre.

Achieving these targets would see the stock market's value surge to $24 billion, based on the predicted GDP of $80 billion by 2010 – a gain of 774% on current
levels or a compounded annual growth of 67%. Simply achieving the lowest rate of 20% of GDP by 2010 would see the market grow by 516% over the next four years.

[grippa] 19/1/2007 10:19

Vietnamese Stocks Surge Past 1,000 for 12th Gain in 13 Sessions
2007-01-19 04:46 (New York)


By Jason Folkmanis
Jan. 19 (Bloomberg) -- Vietnamese stocks surged in the
biggest gain in more than two weeks and the 12th advance in 13
sessions, buoyed by World Trade Organization accession, economic
growth and favorable comparisons with regional competitors.
The Ho Chi Minh City Securities Trading Center's VN Index
climbed 4.1 percent, the biggest gain since Jan. 4, to a record
1,023.05. The bourse's benchmark index has surged 36 percent
this year and tripled since the end of 2005.
Vietnam joined the World Trade Organization on Jan. 11,
capping a two-month stretch in which the country hosted the
Asia-Pacific Economic Cooperation forum, U.S. President George W.
Bush visited the Ho Chi Minh City bourse, and the government
said Vietnam's economy expanded 8.2 percent in 2006. The
government predicts growth may accelerate to 8.5 percent in 2007.
``After APEC and George Bush, everyone thinks Vietnam is
the next big thing,'' said Chris Freund, managing director of
Mekong Capital in Ho Chi Minh City. ``Everyone seems to be
discovering Vietnam for the first time. The media coverage of
Vietnam in the U.S. is off the charts.''
The surge has boosted the market value of the Ho Chi Minh
City bourse, which now has 106 companies, past the $12 billion
mark. At the end of 2005, the exchange had a market value of
less than $1 billion.
``The equity market in Vietnam has undergone an astounding
transformation over the last year,'' wrote Spencer White of
Merrill Lynch in Hong Kong, in a Jan. 12 report. ``Not only does
economic growth remain robust, at circa 8 percent, but the
ongoing policy uncertainty in Thailand may provide some
incremental boost to the flow of foreign direct investment into
Vietnam.''
The SET Index, Thailand's key stock measure, has fallen
about 10 percent since Dec. 18, after the central bank imposed
capital controls to curb speculation on the baht. Bomb blasts in
Bangkok on New Year's Eve also undermined investor confidence.

Bank Share Sales

Share sales in larger state-owned companies in Vietnam will
be a market catalyst this year, White said in his report.
Vietnam's government said on Jan. 5 that it plans to sell shares
in four state-owned banks -- including three of the four biggest
-- this year.
Only one bank, Saigon Thuong Tin Commercial Joint-Stock
Bank, trades on the Ho Chi Minh City bourse. Asia Commercial
Bank trades on Vietnam's smaller stock exchange in Hanoi.
Both banks are already at the 30 percent maximum for
foreign investment in Vietnamese banks, a limit that is also
expected to apply for the four state-owned banks to be sold this
year, according to Phung Khac Ke, deputy governor of the State
Bank of Vietnam.
The first two bank share sales are the Bank for Foreign
Trade of Vietnam, known as Vietcombank, and the Housing Bank of
the Mekong Delta. Vietcombank is Vietnam's second-biggest bank
by assets.
``The foreign limit on the banks looks likely to be
maintained at 30 percent,'' White said. ``Investors looking for
bank exposure will still have to wait for the initial public
offering of Vietcombank.''
The surge on the Vietnamese index has boosted shares of
Vietnam country funds traded on foreign stock exchanges, with
the London-listed Vietnam Opportunity Fund Ltd. jumping 24
percent this year while Vietnam Holdings Ltd., also traded in
London, has gained 10 percent this year.
``There's too much capital coming in too fast,'' said
Freund of Mekong Capital. ``The market is crazy now, but it
could get crazier. Markets always overshoot.''

[don muang] 19/1/2007 08:03

!!! Close above 1,000 for the first time by VN Index !!!

HO CHI MINH STOCK INDEX 19/01/2007
Value 1,023.05. Change 39.960 (4.065%)

Wonder what VNH will close at? (Presume it'll reflect a new high as well).