Vinacapital Vietnam Oppo... Share Discussion Threads

[robsy2] 19/9/2019 11:15

Interesting posts.

[loganair] 19/9/2019 11:09

I have never seen so many forged bank notes as I see being used in Vietnam. I've never seen so much fake stuff being passed as the proper thing as I've seen in Vietnam.

All what I've posted needs to change before Vietnam becomes another China or Taiwan.

[loganair] 19/9/2019 11:03

Their are two gold markets in Vietnam, one in Hanoi and one in Saigon, each with a different price of gold.

Vietnamese pilots of Vietnam Airlines carry huge amounts of gold between the two, making $1,000s of dollars profit to the extent of informing the Western Captains of weather below limits and therefore the need to divert flights - Vietnam Airlines Vietnamese pilots using the airline for their own profit and gain at the expense of the airline and passengers.

[loganair] 19/9/2019 10:54

I remember how the minister for sport in Vietnam bet $250,000 of the ministries money on a Manchester United game, which they lost.

Often the various ministers in Vietnam openly use the ministries money as their own money, for their own gain, fun and entertainment. This does not really happen in India.

Over the past 20 years, very little has changed in Vietnam, infrastructurewise whereas China looks like a completely different country from what is was 20 years ago.

[shaker44] 19/9/2019 10:48

Yes I heard that too. I am more familiar with corruption in Thailand and India but I hear it’s endemic in Vietnam and huge leaky budgets really constrain infrastructure development. As ever, folk at the bottom lose out. Very sad in what should be a thriving economy

[loganair] 19/9/2019 09:11

Vietnam is said to be 30 years behind China and maybe 40 years behind Taiwan.

The biggest problem I see with Vietnam being the next China or Taiwan is the peoples mind set there is massive, am I mean massive corruption with most people in it to get out of it what they can.

[shaker44] 19/9/2019 02:14

Visiting Hanoi/Da Nang earlier this year, I was shocked by the poor physical infrastructure.and the very high cost to get containers up from HCM. Very different to Taiwan infrastructure and will take years to catch up.

[andyj] 19/9/2019 01:18

Nothing happening here that I know of to cause them to fall. Possibly the Bloomberg report about the infrastructure here preventing businesses flooding in.

[shaker44] 18/9/2019 17:12

Down 8% in 2 weeks. No idea why. Anyone??

[roman2325] 29/8/2019 16:31

This is a beta play on Dollar/Sterling plus its likely someone just wanted to sell some stock and the size was too big too find a buyer - it does happen occasionally ;)

Absolutely nothing to worry about - the Vietnam story improves every day

[cfro] 28/8/2019 14:58

Does seem strange given VEIL has been acting so well of late. VOF has not kept up for some reason despite NAV improving.

[lageraemia] 28/8/2019 12:23

No - still has LARGE discount to NAV:

"The Company announces that, as at the close of business on 23 August 2019, its unaudited, estimated NAV was USD 935 million or USD 5.06 per share. The Sterling equivalent as at that same date was GBP 762 million or GBP 4.12 per share.

On a per share basis, this figure represents a week on week decrease of 0.25% in USD terms."

The bent stock market casino rolls on.....

[hydrogen economy] 28/8/2019 12:05

Has taken a ~5% dip since hitting a 52 week high on 12th Aug. VN Index and VEIL are pretty steady, anyone know any reason for VOF drop?

[andyj] 08/8/2019 15:51

Heading towards a new all time high! It has been a slow, measured journey though.

[roman2325] 04/7/2019 08:01

Vietnam a big winner from the trade spat then:

[hydrogen economy] 25/6/2019 13:42

CNBC doing a series of specials in Vietnam this week, focusing on supply chain shifting there from China, looking at the industries affected etc. All sounds very positive about prospects for the country and may well encourage more investors to Vn stocks which will be good for VEIL and VOF which have been pretty static of late, not working yet today, both well down!.

[lageraemia] 07/4/2019 10:30

Cheers Steve

I was dividing the excess (66p) by the £3.34 share price to get the discount, which is normally quoted as being TO the NAV.

Still a big discount, and excellent currency hedge with Brexit nonsense. When the idiots without a plan 'take back control' the pound could tank badly.

[steve73] 07/4/2019 04:06

Hi lager,

Yes, you can currently buy 4pound notes for just 3.34, (so actually more like 15% discount). Remember some of their investments are a little illiquid so the assumed valuations may not actually reflect true value (either way!)

[lageraemia] 06/4/2019 17:39

I'm I correct at putting this discount to NAV at 20%?

[roman2325] 29/3/2019 08:06

Turn on any business channel and China has become too expensive a manufacturing base - Vietnam is the new China

[cfro] 28/3/2019 11:08

And this from the outlook statement:


In the current global capital market environment where volatility and uncertainty prevail, there is a dearth of growth opportunities which offer enough fundamental strength to provide some shelter. Vietnam seems to be one of the few growth opportunities. The attractive economic conditions which I mention above leave us with a market which appears attractively priced, with a positive outlook for earnings and with a stable currency, supported by foreign investment flows. As described in the Investment Manager's review, many of the foreign inflows are in the form of direct investment into manufacturing and supporting infrastructure. Such capital is, of course, longer term in nature than investments into stock or bond markets. This augurs well for the Vietnamese economy for the foreseeable future.

[cfro] 28/3/2019 11:05

From todays report:

We have a continuing strategy to try to reduce the discount at which your Company's shares trade to NAV, as we continue to believe that the prevailing discount does not fairly reflect the strong absolute returns which the Company has made, or its prospects over both the medium and long term. Our efforts to reduce the discount concentrate both in attempting to increase demand for shares and, where necessary, to reduce supply by buying back shares. During the half year under review, 8.1 million shares were bought back, representing 4.2% of the shares in issue at the start of the year. Since we commenced buying back shares in 2011, the Company has purchased some 138.6 million shares, being 42.7% of shares in issue before the first buy back. In order to limit the number of shares held in treasury, the Company cancelled 9.2 million treasury shares in August 2018.

As regular readers of our accounts will be aware, the Board, Investment Manager and advisors have made great efforts in trying to limit the discount. In attempting to stimulate demand in recent years, we have: changed the Company's listing venue to the premium segment of the London Stock Exchange (which resulted in it being included in the FTSE250 Index); changed the domicile to Guernsey; commenced the payment of dividends; changed our arrangement with our Investment Manager so that management of our assets is delegated to a regulated entity in Vietnam; and employed additional resources in marketing the Company's shares.

Our efforts to reduce the discount will continue unabated.