17/09/2019 09:03:00 AM
The total number of ship arrivals at Hai Phong ports in 6M 2019 decreased by 1.76% yoy.
The competition among Hai Phong ports become fiercer
In the long-term, Lach Huyen will be the focus of development in Hai Phong port area
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17/09/2019 08:53:00 AM
Revenue in 1H2019 gained 5.1% yoy, NPAT rose 12.9% yoy, completing 109.4% profit plan of the year
Revenue from crude oil transportation climbed 34.2% yoy in 1H2019 with a force from oil transportation to Nghi Son Refinery.
Revenue from finished oil transportation climbed 15.3% yoy.
Revenue from LPG transportation reached VND581 billion, equal to 48% revenue recorded in 2018.
Revenue from coal transportation increased 33% yoy, GPM hit 12.8%, surging over the same period with only 7%.
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30/08/2019 03:36:00 PM
VIB holds the no.1 market share in Vietnam car loans market; Consumer finance still has a great potential for growth
In case of stable macroeconomic condition, we forecast an average growth of at least 20% per year in the next 2 to 3 years
However, VIB could be strongly hit by its unstable mobilization structure if the economy slows down
BUY recommendation for the last 2 quarters of 2019. Investors are advised to maintain an overall low weight for banking stocks
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20/08/2019 03:47:00 PM
GMD is the biggest enterprise in port operation among listed companies
Nam Dinh Vu Port is a growth driver for GMD in short and medium terms
Gemalink project has a positive outlook and is expected to boost GMD growth in the medium term
The lowest charges of international container handling at Hai Phong – Cai Mep ports increased by 10%.
Risks
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20/08/2019 03:46:00 PM
VRE is a retail real estate company with a leading “all in one” model in Vietnam and a nationwide business system
The domestic retail real estate market is very potential
VRE benefits from the ecosystem of the parent company Vingroup
Risks are still existing
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30/07/2019 10:24:00 AM
NLG’s revenue inQ2/2019 fell 33.7% yoy, NPAT of shareholders of the parent company gained 24% yoy.
Healthy financial status with low debt rate.
The key projects are implemented and offered for sale according to the company’s plans.
2019 revenue of NLG may reach VND3,408.6 billion (-2% yoy) and NPAT of the parent company will hit VND866.1 billion (+ 13.4% yoy.)
Recommended: to BUY
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16/07/2019 10:05:00 AM
We believe that Vinh Hoan is having the right development steps in the long-term by investing in production lines, expanding farming areas and self-controlling its own fingerling source. Besides, we are optimistic about Vinh Hoan’s ability to develop in the US and EU markets in the coming time. Collagen & Gelatin products will also be potential new steps for Vinh Hoan.
In 2019, we estimate that Vinh Hoan's revenue and NPAT will increase by 10% and 7%. Thereby, EPS 2019 of Vinh Hoan will be around VND 16,000. Based on DCF valuation and P/E comparison method, we recommend to BUY Vinh Hoan stocks with a target price of VND115,000, equivalent to a P/E forward at 7x in 2019.
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07/07/2019 04:03:00 PM
Maintain the No.1 position on the potential consumer credit market
Promote business activities at the parent bank, focusing on developing digital banking individual customers
However, asset quality issues after a quick growing period will play a decisive role in VPB valuation
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20/06/2019 04:09:00 PM
Nam Long Group is the leading company in mid-high end housing development with reasonable prices
Healthy financial condition with debt/equity ratio reaching 0.19.
Total area of projects under construction is 400ha.
Continue to accumulate 200ha landbank in Type 2 urban area.
BUY recommendation for NLG shares
Risks do exist.
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20/06/2019 04:05:00 PM
PNJ has owned 327 stores in all over the country by the end of the 1Q/2019
Revenue and profit in the 1Q/2019 increased
PNJ increased the investment capital in e-commerce
The jewelry retail market is potential
The risks are existing
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