Vinacapital Vietnam Oppo... Share Discussion Threads

[brucie5] 13/4/2022 10:53

Good summation. In a different market, IGC might also be worth a look. Another big discount. Vietnam and India could offer good diversification at this point.

[my retirement fund] 13/4/2022 10:07

VOF seems to have the best discount 18.5% and even pays a small dividend so guess that looks the best upon a quick eyelash.

VEIL at 18% and no dividend looks slightly more expensive.

VNH on 13% discount seems to have been supported by buy backs then which cannot go on for ever, so longer term not as attractive.

Did I miss anything ?

[shaker44] 13/4/2022 04:06

Vnh-for buy backs, and different holdings

[johnwig] 12/4/2022 22:57

I hold both and I'm equally happy with both!

[exotic] 12/4/2022 22:57

VOF, VEIL or VNH... I mainly go for whichever has the greater discount to NAV at the time of purchase.

[brucie5] 12/4/2022 19:43

VOF.
Though I hold neither.

[my retirement fund] 12/4/2022 15:21

VEIL or VOF ?

[dickbush] 04/4/2022 10:10

Despite the difference between the official number of daily infections and the day to day totals, there does seem to be a definite downtrend. Reported deaths are very low.

[thamestrader] 23/3/2022 21:27

Makes comfortable reading.

[31337 c0d3r] 23/3/2022 11:50

VOF's latest report just published:

[dickbush] 09/3/2022 08:22

The Vietnam market hit its high on Jan 4th. VOF’s NAV that day was $8.57 or £6.33. The share price was £5.45 for a discount of 13.9%.

Yesterday’s NAV was $8.51 or £6.48. The shares closed at £4.84 for a discount of 25.3%.

[shaker44] 01/3/2022 11:25

Maybe influenced by Russia and v high covid numbers but at this price a steal

[dickbush] 01/3/2022 11:06

It looks like a 24% discount today.

[dickbush] 24/2/2022 08:31

Assuming the usual, the discount to NAV is over 22% at £4.905. That's getting into the territory more associated with a bear market.

It may be one day only, but Vietnam's 1.15% decline today was a lot better than other Far East markets I follow.

[lageraemia] 23/2/2022 10:28

Agreed. And that is WITH buybacks and a decent dividend to boot.

The laws of physics are on our side, and value will out eventualy. In the meantime its an opportunity to continue gentle accumulating.

[dickbush] 23/2/2022 09:32

Assuming in-line performance with the market's rise today, the discount to NAV is 21% at £5.03. That's the worst I've seen in a long while.

[shaker44] 20/1/2022 03:24

With Tet lunar new year holiday fast approaching (31/1-4/2) the market typically drifts as investors avoid risks arising in that 5 day break.
Hoping for top up opportunities at lower prices in early Feb. By then 2 weeks more covid visibility will also give a steer, one way or the other

[lageraemia] 19/1/2022 08:59

Just topped up at 496p as I reckon this in a near term low, compared with the recent high of 540p.

The discount to NAV is greater than £1 still, with the trust buying back its own shares with earned income. Nice.

[hydrogen economy] 19/1/2022 08:17

Some Real Estate nonsense is affecting the sector which dragging on some other areas. Real Estate is ~25% of VOF portfolio

Weekly performance
Khang Dien House Trading Invest -3.35%
Vinhomes -7.18%

VEIL hold Dat Xanh Real Estate Service Contr -14.78%

It is an issue for the companies involved (I don't think any of the above) but knockws sector confidence

hxxps://vietnamnews.vn/economy/1115832/thu-thiem-land-auction-scandal-reveals-loophole-in-viet-nams-bidding-law.html

[dickbush] 17/1/2022 08:31

Market down 2.9% today. I can't find any fundamental news to explain this. Worries about rising inflation and interest rates in the US?

FWIW From today's Vietnam News:

Based on factors affecting the overall market outlook by using earning per share (EPS) and price to earning ratio (P/E) methods, in a positive scenario, BSC said that the market benchmark VN-Index would reach 1,782 points in 2022 with the assumption that the EPS grew by 16.5 per cent, equivalent to a P/E of 18 times.
Accordingly, the average liquidity of the three exchanges is expected to be over US$1.3 billion per session, an increase of 15 per cent compared to the average in 2021 when the number of new accounts rose by 34 per cent, while the market capitalisation is expected to surge by 20 per cent.

BSC also expects foreign investors to net buy a value of $500 million thanks to M&A deals at large private companies and listed banks. Therefore, outflowing pressure from offshore is (forecast to be) declining.

Meanwhile, in a less positive scenario, the securities firm said that the benchmark was forecast to reach 1,633 points with the EPS growing 13 per cent and the P/E being 17 times. The market capitalisation would inch up about 10 per cent and foreign investors would net sell a value of about $200 million.
The VN-Index closed last week at 1,496.02 points and posted a weekly loss of 2.1 per cent due to strong selling force. (1452.8 at the close today)

[dickbush] 12/1/2022 10:27

Note this from VEIL

Vietnam’s market performance was one of the best returns in Asia in 2021 and the country also experienced significant progress in the development of its financial market, said Dien Huu Vu, portfolio manager of VEIL.

He noted that there are now 63 companies with a market capitalization in excess of US$1bn, while US1bn daily turnover is a “new normal” on the Ho Chi Minh Stock Exchange, with levels often much higher, including a daily average of US$1.4bn in December.

“This is above many peers classified as emerging markets,” Dien said.

Vietnam has made great strides in catching up with its vaccination campaign, with more than 90% of the adult population double-vaccinated at the end of December, with nearly 56% of children aged 12-17 years old also double-vaccinated.

As many as two million doses per day are now being administered, with some parts of the country currently receiving booster shots, the fund noted.

“With the majority of the population now vaccinated against Covid-19 and treatment drugs being licenced for manufacturing and distribution domestically, the Government's target for the next four years of their five-year term can turn to economic development, including a US$15bn stimulus package which was announced this week,” said Dien.

“The Regional Comprehensive Economic Partnership free trade agreement took effect from 1 January 2022 and contains preferential terms and principles that the Manager believes have the potential to continue supply-chain shifts to Vietnam and possibly even accelerate this trend."

[dickbush] 04/1/2022 09:31

Vietnam is considering a stimulus package of nearly VND347 trillion ($15 billion) for this and next year to revive its Covid-hit economy. VnExpress International

Also



Infections reported as 14,861 today but the increase on yesterday was 21,728. Like the number reported five days ago, the newspapers are no longer including late reported infections - as they used to.

[donald pond] 02/1/2022 08:51

I saw GFM announced it's been ordered to stop mining for 3 months by Chinese authorities as they shut down economic activity in furtherance of the zero covid policy. They can start again after the Chinese New Year and Winter Olympics are over. If that approach extends to manufacturing companies I imagine a lot of businesses will be looking to find alternatives to China. And without wanting to go into covid, 2 things that are clear is that the Chinese vaccine doesn't work and China's population is much older than Vietnam's.

[shaker44] 02/1/2022 04:49

Vn Index almost breached 1500 again, NYE. Last spike 25/11
I expect it to retake 1500 this week. We shall see