Vinacapital Vietnam Oppo... Share Discussion Threads

[grippa] 27/9/2007 18:29

Onwards and upwards.

[grippa] 26/9/2007 10:16

Vietnam Stocks Gain for 10th Day in 11; Kinh Do Rises on Report
2007-09-26 03:22 (New York)


By Jason Folkmanis
Sept. 26 (Bloomberg) -- Vietnamese stocks rose for the 10th
time in the past 11 trading days on rising overseas investment.
Kinh Do Joint-Stock Co. jumped after a report that it bought
shares in a local dairy producer.
The Ho Chi Minh City Stock Exchange's VN Index advanced for
a third day, adding 6.03, or 0.6 percent, to 1015.91, the highest
closing price since July 12. The measure has jumped 10 percent in
the last two weeks. Among 115 index members, 60 rose, 34 fell,
and 21 were unchanged.
Investors and brokers have told conferences in Vietnam this
month that a bourse rally was likely, with Vinasecurities Joint-
Stock Co. saying foreign investors in recent weeks have bought
four times as many shares as they sold. U.K.-listed fund Vietnam
Holdings Ltd. said yesterday that Vietnam is largely insulated
from defaults in the U.S. mortgage market.
``Foreign-investor appetite remains quite robust,'' Vietnam
Holdings said in a monthly note to investors. ``To some extent at
least, Vietnam is likely to be a safe haven away from the global
financial distress.''
Kinh Do, the exchange's second-biggest food-industry company,
jumped 8,000 dong, or 3.3 percent, to 250,000 dong, in its
biggest one-day gain since Aug. 21. Kinh Do agreed to buy 30
percent of Dong Tam Nutrition Food Joint-Stock Co. for an
undisclosed price, the Saigon Times Daily reported, citing
officials from both companies.

Baby Foods

Dong Tam Nutrition Food, known as Nutifood, is one of the
four biggest milk-processing companies in Vietnam, with a network
of 60,000 outlets and 120 distributors nationwide, the newspaper
said. The product range of Nutifood, which is based in Ho Chi
Minh City, includes baby foods and milk powder.
Nutifood competes with companies including Vietnam Dairy
Products Joint-Stock Co., the second-biggest company on the
bourse by market value. Vietnam Dairy Products, known as Vinamilk,
fell for the first time this week and the second time in the past
12 trading days, slipping 2,000 dong, or 1.1 percent, to 173,000
dong.
Saigon Thuong Tin Commercial Joint-Stock Bank, the biggest
stock on the exchange, rose for a third day, adding 1,500 dong,
or 2.2 percent, to 71,000 dong, its highest close since June 20.
The company, known as Sacombank, is benefiting from speculation
that Bank for Foreign Trade of Vietnam may buy shares in
Sacombank, the Vietnam News reported today.
Vincom Joint-Stock Co., the biggest property developer on
the bourse, advanced for a fifth day, adding 7,000 dong, or 4.7
percent, to 157,000 dong. Vincom has jumped 26 percent since
listing on the exchange on Sept. 19. Property prices in the Ho
Chi Minh City area are surging, the Tuoi Tre newspaper reported
yesterday.
Ho Chi Minh City Infrastructure Investment Joint-Stock Co.
climbed for a third day, gaining 2,500 dong, or 3.8 percent, to
68,000 dong.
``We are hearing that Ho Chi Minh City Infrastructure
Investment has hit its full-year 2007 earnings target already
in'' the third quarter, Vinasecurities said in a note yesterday.

[grippa] 26/9/2007 10:11

Vietnam back on the map! Index rising. HSBC purchase has brought the confidence back...I expect the 4thq to be a strong one!

[codydotcom] 30/7/2007 20:38

nav of $3.22 per share

what's the catch?

[priscilla] 12/7/2007 17:08

tibor, I bought mine through Selftrade with no probs.

[tiborinvest] 12/7/2007 15:56

how can i invest in this stock? hsbc, halifax and selftrade do not trade this.

[grippa] 09/7/2007 11:42

Vietnam car sales up 79 percent in first half - auto association


HANOI (Thomson Financial) - Auto sales in Vietnam rose 79 percent
year-on-year in the first half, the Vietnam Automobile Manufacturers'
Association (VAMA) said Monday.
VAMA said between January and June, vehicles sold rose to 28,524 compared
with 15,906 in the first six months of 2006.
The number of four-wheel drives and multi purpose vehicles (MPV) sold jumped
270 percent to 9,314 units.
In June alone, car sales were up 62 percent year-on-year at 6,038, the
association said.
Vietnam's economy is estimated to have grown 7.87 percent in the first half
of this year, the biggest increase since the same period of 2001.

[grippa] 09/7/2007 10:33

Vodafone Opens Vietnam Office in Search of Growth (Update1)
2007-07-09 05:13 (New York)


(Adds plan in third paragraph, shares in last paragraph.)

By Alex Armitage
July 9 (Bloomberg) -- Vodafone Group Plc, the world's
largest mobile-phone company, opened an office in the Vietnam
capital of Hanoi last month as it seeks opportunities ahead of
the possible sale of government-owned wireless operators.
``We set up an office in Hanoi last month to monitor the
situation,'' Ben Padovan, a spokesman for Newbury, England-based
Vodafone, said today. Vietnam has ``growth'' opportunities in the
wireless market.
Under Chief Executive Officer Arun Sarin, Vodafone has
focused on acquisitions and partnerships in emerging markets. The
company completed its purchase of a controlling stake in India's
Hutchison Essar Ltd. in May for $10.7 billion. Growth in western
Europe has slowed as most people there now have mobile phones.
``Ahead of the anticipated equitization of local GSM mobile
network operators, Vodafone has opened a representative office in
Vietnam to learn more about the market,'' said Padovan, repeating
comments made by Warren Finegold, Vodafone's head of global
business development, when the company opened the office.
``There's no timetable or official process,'' Padovan said.
``This is early days.''
In April 2006, Sarin reorganized Vodafone into three units
covering Europe, emerging markets and new technology.
Shares of Vodafone rose 2.2 pence, or 1.4 percent, to 165.7
pence at 9:53 a.m. in London. The shares had risen 37 percent in
the past 12 months before today.

[grippa] 23/5/2007 13:12

Have people missed that the Vietnamese index has already bounced and already up 23.1% from the lows at the end of April...VOF is flat in the same period!

[grippa] 17/5/2007 08:59

Picked this up today...Vietnam has excited international investors in a number of fields – from textiles to power projects – but now steel seems to be catching the eye. Tata steel, Baosteel and Evraz have already been casting acquisitive glances in the direction of existing and Greenfield steel projects, but they pale in comparison with the new plans announced by Eminence. The US group intend to invest a staggering $30bn into the construction of a steel plant (and auxiliary satellites) in Vietnam's Nghi Son economic zone. The plan will see $26bn directly put into the plant, and a further $4bn invested in a thermoelectric plant, a shipyard, an urban residential area and a research institute. The first tranche of the cash will help establish a steel plant between 2007-2012, with a further $18bn dedicated to upgrading the plant in the remaining years to 2020. Once completed, the mill will employ 10,000 people and will have an annual capacity of 30mt of steel products (mostly high-quality items for export). The scale of the ambition is extraordinary – to give it some perspective, total foreign projects in the country to date (7,086) have invested around $64.2bn. Eminence alone will invest more than three times the amount of money put into the country to date from the leading foreign investor Singapore ($8.8bn).

[hectorp] 02/5/2007 08:57

Well worth a look now for several good reasons, dont have time today to write more.

Downside is I think they are denominated in USD! a falling asset if we are UK -based sterling bank balance holders. On other hand, stuff bought in USD is cheap to us - but it could get much cheapere yet.
I suspect the $2.00 pound is about as bad as it gets for some time to come for the USD,.

[wiganer] 12/4/2007 16:14

400 once, 400 twice, 400 thrice!

[grippa] 12/4/2007 16:03

What I do know is that there is a wall on Money waiting to invest in Vietnam. It is a huge wall in comparison to the value of the stock market, but it is not a huge amount in global terms. Vietnamese fund managers have started to refuse taking more money, so I doubt there will be any liquidity crunch in terms of the Vietnamese stock market. In addition Vietnam is slightly isolated from global trends. With the 85+million population they have, they are somwhat insulated from any potential global slowdown...and certainly this should be viewed as a longterm hold and thus any downturn can be appreciated as it's a further oppurtunity to pick up cheaper shares!

[traderabc] 11/4/2007 15:17

Topped up yesterday,now have a substancial holding here.I liked this because I hoped it would offer diverseification from the mainstream western stock indexes.
What worries me is that recently there seems to be a tendancy for all markets to move together,where you get commodities,stocks,bonds ect all moving in the same direction at the same time. This is unusual and strange,it's as if the liquidity we see in the markets applies across the board,so in theory if this liquidity dries up then there might not be any refuge anywhere outside 'cash'. I hold Gold/Silver as an alternative asset class,yet they also seem to move in tandem with bonds and stocks recently. This perplexes me,does anyone have any idea why this is happening.

[grippa] 02/4/2007 13:40

The future looks very bright!! We got way ahead of ourselves earlier this year, but looking more balanced now. I reckon we could coast for a few months until the big IPOS towards the end of this year, and then the upwards path resumes...


Industrial & Commercial Bank of Vietnam Targets Oct. Share Sale
2007-04-02 07:46 (New York)


By Jason Folkmanis
April 2 (Bloomberg) -- Industrial & Commercial Bank of
Vietnam, the country's fourth-largest state-owned commercial
bank, said it plans to hold an initial share sale in October.
The company is one of four state-owned banks that Vietnam's
government said in January it planned to sell shares in. The Bank
for Foreign Trade of Vietnam, the second-biggest state-owned
commercial bank, is planning an initial share sale by August with
a listing on Vietnam's stock market to follow six to eight weeks
after that.
Share sales by state-owned companies in the country are the
key to easing a supply constraint that has pushed up valuations
on Vietnam's equity market, JPMorgan Chase & Co. said in a
presentation last month. Banks are likely to be among the most
sought-after industries in Vietnam by foreign investors, HSBC
Holdings Plc said in a report last year.
Industrial & Commercial will hold its ``initial public
offering in October 2007,'' the bank said, in an undated posting
on its Web site. The share sale will ``considerably improve
Industrial & Commercial's business capabilities,'' the bank said.
Seven international financial-services companies are
candidates to become advisers for the share-sale process,
according to the statement. The seven are Lehman Brothers
Holdings Inc.; Merrill Lynch & Co.; JPMorgan Chase; UBS AG;
Morgan Stanley; Macquarie Bank Ltd.; and Daiwa Securities Group,
Inc., Industrial & Commercial said.
In February, Vietcombank selected Credit Suisse Group to
oversee its share-sale process.
The government may sell as many as 49 percent of its shares
in Industrial & Commercial Bank to investors, the bank's General
Director Pham Huy Hung said in a telephone interview today.
Vietcombank has said the government's initial plans are to sell
30 percent of its shares.
To date, all state-owned companies in Vietnam that have held
initial public offerings have done so prior to any subsequent
listing on the Ho Chi Minh City Securities Trading Center.

Total Assets

Industrial & Commercial has assets of about 150 trillion
dong ($9.4 billion), according to Hung. The Bank for Foreign
Trade of Vietnam, known as Vietcombank, reported assets of 170
trillion dong as of the end of last year.
Vietnamese Prime Minister Nguyen Tan Dung sent a directive
telling government agencies to simplify paperwork and push
through planned share sales of major state-owned companies, the
Vietnam Investment Review reported today.
Dung's directive cited companies including three of
Vietnam's four biggest state-owned commercial banks, according
to the report. The three are Vietcombank, Industrial &
Commercial, and the Bank for Investment & Development of Vietnam.

More Sales Planned

Other companies cited by the prime ministerial directive
included Hanoi Beer-Alcohol-Beverages Corp. and Saigon Beer-
Alcohol-Beverages Corp., as well as mobile-phone operators
Vinaphone Telecommunication Services Co. and Vietnam Mobile
Telecommunication Services Co., the newspaper said. The
companies are also expected to list their shares on Vietnam's
equity market, according to the report.
``Vietnam has a much more professional approach now to IPOs
than they've had in the past,'' said Juerg Vontobel, chairman of
the U.K.-listed fund Vietnam Holding Ltd., citing improvements
in information disclosure and in giving investors sufficient
prior warning about share sales.
The four biggest state-owned banks in Vietnam have non-
performing-loan ratios ranging from 3 to 4 percent, though the
figures may be higher if international accounting standards are
used, Fitch Ratings said in a report released last month. State-
owned banks in Vietnam hold about 75 percent of system-wide
assets, according to the credit ratings company.

[hectorp] 30/3/2007 17:54

VOF is off 30% or more, so we are approaching reopen time - are we not!

[hectorp] 16/3/2007 07:57

I suspect sterling based (UK) investors are put off by it being in USD.
This is an added source of value fluctuation.

[grippa] 07/3/2007 11:50

NAV of $3.15 means share price is on a premium of 6.98%...amazing to think we were over 60% just a few weeks ago.

[grippa] 28/2/2007 08:57

16% premium to last months NAV...looking better value now.

[kirtonmp] 19/2/2007 21:40

I've been wanting to buy shares in VOF: can anyone recommend a good stockbroker please?
Thanx.

[grippa] 14/2/2007 08:57

"India's key steel players continue to seek out global alliances in both established and emerging markets. In the latest development, Essar Steel has revealed it has joined forces with two state-run Vietnamese companies to set up a two million tonne steel plant in southern Vietnam at the cost of $527 million. The firm has signed a joint-venture agreement with the Vietnam Steel Corp and the Vietnam General Rubber Corporation to set up the plant in the Phu My Industrial Zone in southern Vietnam. The project, expected to be completed in 30 months, will help meet Vietnams' rapidly increasing steel demand – consumption in the emerging Asian economy is predicted to rise from its present six million tonnes to ten million tonnes by 2012."

[hectorp] 12/2/2007 08:08

VOF has come off, quite a fair bit, and may be a strong 'hold' here...
On close watch ..
H.

[grippa] 06/2/2007 09:56

NAV up to $2.92...thus we are at a premium of 41.6%. Certainly not as high as we have been!! HCM index now stands at 1091.38 up almost 5% this month.

[grippa] 24/1/2007 10:30

Don...I think thats the answer. Certainly VOF was overvalued and as VNH starts to become more invested the premium should rise...When and if (probably more likely when than if) the HCM index corrects, I am thinking of investing in VNH as they will have plenty of cash on the side to pick up cheaper shares.