Vietnam Share Discussion Threads

[exotic] 12/10/2021 23:17

Dynam Capital, the fund manager of VNH, will be hosting a live online investor presentation on 1st November 2021 at 10:30 UK time.

Shareholders and potential investors can register to join the webinar for free.

For those that cannot attend, a recording of the presentation will be available to view on the company's corporate website at

No material new financial or other information will be provided during the presentation.


Meanwhile, Director Philip Scales bought £10k worth on Monday.

[alter ego] 11/10/2021 09:37

thx for posting.

[davebowler] 11/10/2021 08:54

New report-
Vietnam Holding Limited (VNH) Investor Report – September 2021

The Rise of the Retail Investor

Vietnam’s economy was hit hard by strict lockdowns in September, with manufacturing falling significantly for the second month running and GDP Q3/2021 growth down -6.2% YoY. Foreign investors were selling throughout the month, nevertheless, leading stocks in the consumption sector performed strongly, with MWG, one of the Fund’s largest holdings, posting impressive returns as the modern retail trend in Vietnam continues to strengthen despite the Delta variant’s economic dents in Q3.

VNH was the top performing fund for the first nine months of 2021, beating the VN Index by 24% and outperforming its peers. Its NAV was up +3.3 for September with other top positive contributors DGW, HPG and VPB faring well. Both DGW (Digiworld), the country’s leading ICT distributer, and HPG, Vietnam’s top steel maker, continued to benefit from rising demand throughout the pandemic. VPB will receive proceeds from selling its stake in the finance company FE Credit and we expect it could become the biggest private bank in Vietnam in terms of capital given its senior management’s long-term strategy.

It has been an extraordinary year for Vietnam’s benchmark stock index, which having gained around 23% since the start of 2021 is this year’s top-performing market in the Asia-Pacific region. As noted in the Fund’s recent annual report, VNH’s 15th anniversary this year coincided with an unprecedented escalation in domestic investor activity. To put this into more context, the market value of publicly traded companies in Vietnam is now close to USD 300bn, up from USD 2bn in 2006, when investment funds, such as VNH, commenced their activity. As a result, the stock market has created additional wealth and income for the many new domestic investors in the country, and longer-term investors, such as those who invest in VNH, have also seen compound average returns of more than 15% per annum over the last decade.

Also, as part of our rigorous market analysis, we recently commissioned an independent research firm to conduct a first of its kind survey on the sentiment and behaviour of the growing retail investment base in Vietnam, and the findings paint a more upbeat picture of what is to come in the last quarter of 2021 as vaccinations pick up pace and lockdown restrictions are gradually lifted. Carried out in the month of August, the survey captures the changing nature of Vietnam’s retail investment market, namely how these investors have emerged as a decisive buying force by allocating their money in selective stocks more than in traditional assets, such as gold.

Since Covid-19 struck and working from home became the new norm, this investor base has grown to an estimated four million trading accounts, around 3% of the country’s population, which is remarkably more than in the UK and similar to Taiwan’s figure in 1986 when the market there went on to experience decades-long stock market surge. Of the survey’s 425 respondents, 79% recorded strong gains in the past year and 59% said they feel optimistic about the market going up more than 5% in the final months of 2021 suggesting optimistic outlooks despite the Delta variant’s paralysing effect on trade in the past two months.

Vietnam Holding published its annual report on 1st October (available on the VNH website) and has announced that the Annual General Meeting will be held 10.00 a.m. (UK) on Monday, 1 November 2021 at the offices of FIM Capital Limited, 55 Athol Street, Douglas, Isle of Man, IM1 1LA. The AGM will be followed by an Investor Update Webinar at 10.30 a.m which will be recorded. Registration for the webinar can be made at this link.

[royaloak] 21/9/2021 08:52

Never mind then, you are making profit that's the main thing, I have only ISA accounts nowadays except one I just use for direct overseas trading.

[shaker44] 20/9/2021 16:46

And pay tax on the dividend? No thx!

[royaloak] 20/9/2021 16:31

Another option I suppose is to buy and then sell high divided shares when they go XD but if you already have income you have a cost to pay there.

I packed in work many, many, years ago,before I had a pension so I did not have that problem as long as I had plenty of capital gains.

[shaker44] 20/9/2021 15:16

Already more than used my allowance with. Other gains.

[royaloak] 20/9/2021 14:52

Buy back enough shares you sold in the tender so your gains are just under your allowance for the year (within 30 days of your sale.)

Than when we come into the next tax year start selling again, but make sure your profit is no higher than the limit.

Do the same for future years. Of course you may then have other losses from other shares that you can use, but of course the price of VNH may start to drift.

[alter ego] 17/9/2021 17:09

shaker44 the calculator will deal with it. Just enter you original buy transaction details, then your "sell" via the tender and finally your repurchase,

The format in Excel cells in each row is:
B or S for buy or sell, the date of the transaction, the ticker of the stock (VNH), the number of shares traded, the price in £.p, any fees paid to a broker in £.p, any tax paid on the transaction (stamp duty) -if none enter 0

If you have made any other trades in the same stock, enter them as well.

best of luck

[shaker44] 17/9/2021 16:06

Thanks I will try that. So far I can not find anything similar that caters for the vnh situation.

[alter ego] 17/9/2021 15:44

use this calculator if your shares are not in an ISA



enter your buys and sells in a spreadsheet like Excel one line per trade
then copy and paste into the calculator. click calculate and voila it tells you what cgt gain (or loss) you need to declare

[shaker44] 17/9/2021 14:01

Still struggling with Cgt so looking for help please.
I owned 26000, vnh then bought 14638 by tender, which I bought back today - within the 30 day rule.
One thought is that I must declare a gain from the difference between vnh tender buy @321, and my buyback @297.
The other thought is to add my buyback cost to my original purchase, deduct my tender proceeds and derive a new net cost (211p). That would then become my base cost for assessing gains from any future sales.
So if I don't sell any before 5/4/22, then no cgt is due this year.
It's an unusual situation and I am unsure where to get a definitive answer.

[yf23_1] 16/9/2021 18:31

51.6% at 318p with HL

[bagpuss67] 16/9/2021 18:20

Actually probably got more as put whole proceeds back in

[bagpuss67] 16/9/2021 18:19

Got all mine back today. Missus too busy at work will have to pay more tomorrow.

[shaker44] 16/9/2021 16:29

Anyone think of any reason why City of London for example, didn't tender all, then buy back? Looks like a big missed. Opportunity

[exotic] 16/9/2021 16:12

Got my cash back in the ISA, so no worries about wasting the tax allowance.

RNS shows several PDMRs took part in the offer and intend to buy them back at the end of the closed period. Same RNS also shows Discover Investment Company tendered 916,905 shares (2.15% of shares in circulation pre-tender) - hope they use the cash to buy some back.

A separate RNS for City of London Investment Management doesn't give precise figures, but seems they tendered around 424,572 shares.

I can only see this moving higher short to medium term.

[shaker44] 16/9/2021 12:48

Just thinking, If I buy back all of those sold by tender, within 30 days, doesn't that negate the sale for cgt purposes?? Surely the profit can't be free of cgt though?

[shaker44] 16/9/2021 12:07

Just trying to buy back 10000 shares but will only do negotiated order. Probably about 291p

[spangle93] 16/9/2021 12:02

Can't see it explicitly stated, but it looks like around fractions over 318p

[shaker44] 16/9/2021 12:01

321.5p which was lower than I expected with nav about 340p. Got 56.3% tendered via iweb

[tigletpiglet] 16/9/2021 11:47

Hi, what price per share did you guys get for your tendered shares?

TY

[spangle93] 16/9/2021 10:28

HL activity, at last

Sold 51.6% of my 100% tendered shares, cash in account. Happy days.

Maybe recent strength is people using received cash to buy back shares sold, at a discount

[shaker44] 16/9/2021 08:32

If the major 3 holders, who own 40%, tendered and then buy back there will be some chunky purchases very soon

[chester] 16/9/2021 08:32

I managed to get 55% tendered. Paid on the 13th.