Vinacapital Vietnam Oppo... Share Discussion Threads

[shaker45] 05/1/2024 12:49

A better comparison than historic is with the current high discounts to nav across the market

[aleman] 05/1/2024 09:23

VOF shares look sluggish compared to NAV recently. 5-year average discount is about 15%. 12-month average discount is about 17%. With this morning's modest rise in Vietnamese shares, the discount looks to be about 19.5%.

[aleman] 04/1/2024 13:43

Vietnam's GDP was recovering while China was subdued. China is showing modest signs of improvement. Vietnam now has a major foreign and domestic investment boom under way, lower interest rates that might come down further, and some new trade deals, including the USA. It actually looks primed to do extremely well over then next few years, hence the stockmarket approaching its record high. (Up again this morning.)

[shaker45] 04/1/2024 12:55

No chance! Even prezza Xi talked down the economy at new year. Unheard of

[aleman] 04/1/2024 11:27

Will there be a Chinese tailwind here? China's services PMI rose to 52.9 in December from 51.5 in November. It's the third consecutive rise and new orders were highest for 7 months.

[aleman] 02/1/2024 10:25

Vietnam Manufacturing PMI rises from November's 47.3 to 48.9 in December.

[aleman] 07/12/2023 13:55

Vietnamese CPI fell from 3.59% in October to 3.45% in November. The target is 4.5% so that reinforces existing expectations of a cut in the interest rate from 4.5% to 4.0% in early 2024 (following cuts earlier this year from 6%).

[dpmcq] 06/12/2023 16:52

The reason behind the special resolution at the AGM -
The Company's second largest shareholder, representing approximately 23% of the votes cast at the AGM (11% of the total issued share capital), voted for Resolution 14, the discontinuation of the Company. The Chairman had met representatives of the shareholder prior to the AGM who indicated that they would support continuation of the Company if the Board introduced a Performance Conditional Tender Mechanism ("PCTM"). The Chairman presented the Board's arguments why a PCTM would not be in the Company's or the other shareholders' interests but the shareholder was not persuaded and has voted contrary to the Board's recommendation. In accordance with the AIC Code of Corporate Governance, the Board will now reflect further and will report back to all shareholders at the time of the publication of the interim results in March 2024.

[aleman] 06/12/2023 16:20

29% voted against the company continuing in its current form. Maybe they want to wind up and hopefully get 20% more value than the current share price offers?

[aleman] 20/11/2023 14:20

I make the dividend 5.638p per share.

[shaker45] 18/11/2023 01:43

That average masks a wide range with many around 30% discount to nav

[aleman] 16/11/2023 16:28

The average discount across all investment trust sectors stood at 16.9% at the end of October, the widest discount for a month-end since December 2008, when it reached 17.7%, according to data from Morningstar.

[aleman] 09/11/2023 07:44

NAV starting to look strong again given the ex-dividend last week. (568p after about 6p ex-dividend.)

[arja] 06/11/2023 09:06

I guess the stronger cable has knocked VOF and down today as viernam indices rise !

[arja] 03/11/2023 15:40

surprised it has come off so much today as Vietnam indices held up well - must be the friday blues but mistake not to take profit at close yesterday :) .

[arja] 02/11/2023 09:03

nice turnaround in Vietnam indices and up about 3.5% . VOF not strictly following but maybe the currency is weaker against pound !

[shaker45] 01/11/2023 10:57

Let's hope they get the huge real estate corruption problems fixed soon

[aleman] 01/11/2023 09:59

Vietnam Oct manufacturing PMI 49.6 from 49.7 but new orders rose again and inventories fell again, suggesting output might rise in the next few months. Employment stabilised after a couple of months of slight job shedding.

[aleman] 24/10/2023 07:58

Wow. So the current year P/E drops from 12.3 to 9.3 for 2024.

Our research team believes that the macroeconomic picture for Vietnam remains remarkably strong and resilient long-term. While earnings growth for 2023 has been trending lower, with consensus estimates currently at 7.8% growth for 2023, looking ahead the outlook for 2024 is robust, with the market expecting to deliver 32.1% earnings growth, one of the fastest growth rates in ASEAN, while still attractively priced at an estimated 12.3x forward price-to-earnings ratio for 2023.

[aleman] 23/10/2023 12:46

Dividend of 7.0 cents, ex-dividend 2nd Nov, paid 4th Dec. Exchange rate yet to be declared around 20th Nov.

[shaker45] 17/10/2023 17:46

25% discount not unusual. Rothschild's RIT is at that level and getting worse,for example

[aleman] 17/10/2023 17:23

VinaCapital's Outlook for Vietnam's Economy:

[shaker45] 17/10/2023 03:59

They bought back 50k on 13 October. Watch out for more.

[aleman] 16/10/2023 13:09

So this morning, the shares started at a discount of 25.4% to Friday's closing NAV of 586p. The market did close down today to be fair but the discount is just getting ridiculous. It potentially opens itself up to some kind of corporate action to make an instant profit.