Viet Nam Finance: 01/06/08

Sunday, January 6, 2008

SSI: With VND200 billion, SSI is prominent?

SSi: With VND200 billion, SSI is prominent?
SSI (Sai Gon Securities Inc) explain the information about the reward money for 2007 reaching VND 200 billion.

Jan 01, 2008, Mr. Nguyen Duy Hung, chairmain of BoD, have documented to respond the use VND 200 billion from encouraging fund for 2007.

The information about the plan on Tet holiday encouraging money attracted the concerns of people. There are several different viewpoints about the above sum of money.

It is said that the money for encouraging is a prominent strategy of the company when the market
is continuing its downward spiral, including the business of the securities companies. It is even said that there is something recalling the problem of relationship with shareholders where FPT was an example.

In the document, SSI, however, have affirmed that the deduction ratio of encouraging and welfare fund 20% of the profit after tax does not break the enterprise law and the company charter. Moreover, it has passed in the shareholders’ annual meeting 2007.

One remarkable thing is that the money reaching VND 200 billion above is not all for the employees as some source of information. Clearly, the money is for the work of the BoD, the Investment Board, and the Supervisory Board and the encouragement to the employees.

Besides, the encouraging and welfare fund is also used for the payment of the welfare in the whole year, for instance vacation, Tet holiday, Insurance for employees and provision for some years later in case of the difficulties of business… SSI assured “We can not use all the fund for one time to reward the employees”.

According to SSI, Personnel state in the Securities Company is so strained when there are some time 60 employees working. The welfare policy on one hand encourage the employees, attracts the talents, on other hand the encouragement policy indirectly benefits the shareholders.

TSC: Insider Trading

TSC: Insider Trading
Techno – Agricultural Supplying Joint Stock Company (TSC) has disclosed insider trading as follows:
Stock symbol: TSC
Trader: Pham Van Manh
Having relation to: Pham Van Tuan (brother)
Position of the affiliated person in the listed firm: Chairman of BOD and Director General 150.000 shares (1,8%)
Owing volume before trading: 6,000 shares (0,07%)
Registered volume to buy: 3,000 shares
Owning volume after trading: 9,000 shares(0,11%).
Reason: Balance the investment list
Trading period: from Jan 07, 2008 to Jan 31,2008

Mobile networks battle for market share

Mobile networks battle for market share

Vietnam’s mobile phone networks are fighting to increase their share of a market expected to have 50 million users within two years.

Mobile phones are becoming an indispensable part of Vietnamese life, especially for youngsters

MobiFone marketing chief Do Viet Hung said his company was trying to sign up between 7.5 million and 10 million new users this year.

MobiFone, Viettel and VinaPhone are all offering special discounts as they seek a bigger slice of a market expected to stabilize in 2010 with 50 million customers.

In retaliation, S-Fone earlier this week unveiled a VND1 package.

Under the deal, customers will pay VND216 for the first six seconds of a call and VND36 for each second of the first minute.

From the second minute of calls to other S-Fone users, customers will be charged VND1 per second.

For calls to non-S-Fone subscribers, the second minute will be charged at VND36 a second.

S-Fone Managing Director Ho Hong Son said the discount package would not undermine his company’s profitability.

“In the increasingly competitive market, we had to carefully weigh different factors before deciding to offer this package,” Son said.

At the end of 2007, S-Phone said it had more than 3.5 million users.

Recent reports from its rivals showed that Viettel was the market leader with 14 million users, followed by MobiFone with 12 million and VinaPhone with 10 million.

Last month Viettel asked the Ministry of Information and Communications (MIC) for approval for a 25 percent discount service package.

However the Ministry only approved a 15 percent discount.

A recent announcement from the Ministry allowed mobile networks to decide their own service rates.

S-Fone’s Son said the mobile phone battle could intensify, with Viettel possibly lowering its rates after the Tet holiday, forcing MobiFone and VinaPhone to follow.

Source: Lao Dong

Stocks tipped to remain hot in 2008

Stocks tipped to remain hot in 2008
Source:thanhniennews

Tran Hoai Phuong (L), acting chief executive of Empower Securities Corp., and Dinh The Hien (1st, R), director of the Institute of Information and Business Research
Dinh The Hien, director of the Institute of Information and Business Research, and Tran Hoai Phuong, the acting chief executive of Empower Security Corporation, had an online chat with Thanh Nien readers this week.

Tran Hoai Phuong (L), acting chief executive of Empower Securities Corp., and Dinh The Hien (1st, R), director of the Institute of Information and Business Research

Tran Manh Trung, HCMC: Some people forecast Vietnam’s stock market will only make minor gains as the share prices of many listed stocks were overvalued in 2007. What’s your opinion?

Dinh The Hien: Vietnam’s economy is growing rapidly so the stock market will certainly increase sharply.

The VN-Index’s moves in 2008 will be reliant on the value of new stocks and the capital-raising plans of listed companies.

Many people are wrong when trying to link the return from individual stocks with the overall moves of the VN-Index.

For example, consider a hypothetical newly-listed company whose shares begin trading at VND500 on the Ho Chi Minh Stock Exchange.

The company has a good business with lots of growth potential.

When the company joins the market, the VN-Index will be diluted because of the company’s low share price.

However, shareholders may be able to make substantial profits in the long-term as the company’s share price rises and it issues dividends.

So investors shouldn’t expect a company’s shares to trade at a high price after it lists on the market.

They should expect the company to set a price that matches its rate of return and its growth potential.

Diep, HCMC: What is the stock market’s prospects in 2008’s first quarter? Will there be any factors that help lift the market?

Dinh The Hien: In the first quarter most listed companies will release their manufacturing output data for last year.

These figures are expected to be very good.

Vietnam’s rapidly growing economy, in addition, is luring many foreign investors.

And finally, investors who are investing in real estate will return to the stock market as they discover real estate hasn’t been as attractive as they expected.

Considering the three facts above, I think the stock market in the first three months of this year will either increase gradually and then surge up to 1,200 points or rise steadily to 1,000-1,100 points.

Vo Hoai Nam, HCMC: Is there any possibility of a “Black Monday” on Vietnam’s stock market when there are too many listed companies?

Dinh The Hien: Vietnam’s stock market remains fairly small.

At pre-sent there are 141 listed stocks on the Ho Chi Minh Stock Exchange, accounting for less than 20 percent of the country’s 500 biggest companies.

Meanwhile, a mere 0.26 percent of the population is participating in the market.

So it is impossible for a “Black Monday” to happen.

Pham Duong Chau, Hanoi: Will the large number of state-run giants’ initial public offering in 2008 make the market fall?

Tran Hoai Phuong: Every market is affected by the laws of supply and demand.

I believe those state-owned firms will have to work out the most suitable time for their initial public offerings (IPOs).

Le Kim Ngan, HCMC: Is this year a good time to take part in the stock market?

Dinh The Hien: Over the last seven years, the rate of return on stock investment reached 950 percent, real estate investment 500 percent, gold investment and savings 300 percent.

So investing in stocks is the best choice.

But those who want to earn fourfold profit from trading stock like some investors did in 2006 will certainly not find the stock market attractive.

S. Korea’s Mirae Asset to buy Vietnam bank stake

S. Korea’s Mirae Asset to buy Vietnam bank stake
Source: thanhniennews

Mirae Asset Securities , the brokerage arm of South Korea’s top mutual fund firm, plans to buy 15 percent of a Vietnamese bank in its drive to expand in the rapidly growing local market, a newspaper said Saturday.

The Vietnam Economic Times said the South Korean firm, which opened a brokerage venture in Vietnam late last month, would buy shares of Ho Chi Minh City-based unlisted Phuong Nam Bank in phases.

Foreign firms have been stepping up operations in Vietnam where booming growth and economic liberalization are fuelling strong demand for financial services.

Phuong Nam Bank, in which Singapore’s United Overseas Bank already owns 10 percent, and Mirae Asset Securities have signed a memorandum of understanding over the purchase, the newspaper said without giving a timeframe.

Officials could not be reached Saturday for comment.

Vietnam caps foreign ownership in domestic banks at 30 percent, with a 15-percent limit for a single investor.

In exceptional cases, the government could allow a foreign strategic investor to own 20 percent in a domestic bank.

LSS: Introduction document for the initial listing

LSS: Introduction document for the initial listing
Sep 24, 2007 HCM Securities Exchange sign the decision 113/QĐ-SGDCK to approve the Lam Son Sugar Joint Stock Coporation to become the 140th listed firm on the HoSE. Jan 09, 2008, LSS will first trade on the HoSE.

Download the file:
Attached files:
20080104-LSS-Bai gioi thieu.doc

VFMVF1: Trading Result of big shareholder

VFMVF1: Trading Result of big shareholder
enterpreted from VSE

Listed firm: BenTre Aquaproduct Import and Export Joint Stock Company
+ Symbol: VFMVF1
+ Trader: Bao Viet Securities Company
+ Owning volume before trading: 4.808.265 units (4.8%)
+ Bought volume: 496.800 units
+ Owning volume after trading: 5.305.065 units (5.3%)
+ Trading end-date: Dec 27, 2007

SSI: Respond about the deduction of the praise and reward fund of SSI

SSI: Respond about the deduction of the praise and reward fund of SSI
Enterpreted from VSE

Download the file:

Attached files:
20080104-SSI-CV phan hoi viec trich quy khen thuong 2007.pdf

VNM: Information of the percents that foreign investors recently own

VNM: Information of the percents that foreign investors recently own
Enterpreted from www.vse.org.vn

According to No1344/UBCK-TTTT of the State Securities Commission, Vinamilk is approved to issue all the additional shares (equivalent to 5% charted capital) on the overseas exchange and is approved to deposit through the secondary accounts of Singapore Securities Depository which are directedly created at Vietnam Securities Depository.
Vietnam Securities Depository take the duty of supervision so that the percents owned by foreigners don’t exceed 49% (including: the percents owned by Singapore Securities Depository don’t exceed 3% after issuance and don’t exceed the percents listing on Singapore Securities Exchange)
Therefore the percents of foreigners on Vietnam Securites Exchange now is 46%

Implementing the content in No1344/UBCK-TTTT, on Jan 04,2008 Vinamilk have sent document to announce that the change date of the room for foreigners on HoChiMinh Securities Exchange (HOSE) in to 46% of charted capital is Jan,07,2008.

ABT: inform dissolution of Aquaproduct Restaurant Limited

ABT: inform dissolution of Aquaproduct Restaurant Limited
translated from VSE

Dec 10, 2007, the meeting of the Aquaproduct Restaurant Limited decide to dissolve the Aquaproduct Restaurant Limited
Chartered capital VND 6.003.458.000 (including: 66.68% contributed by ABT Aquatex Bentre equivalent to VND 4.003.458.000)
Dissolution from Jan 01,2008
Reason for dissolution: low effectiveness of business

FBT: Annoucement for listing and the officially first trading day

FBT: Annoucement for listing and the officially initial trading day
Ben Tre Forestry and Aquaproduct Import – Export Company (FAQUIMEX) (FBT)
will be listed on Hochiminh securities Exchange HOSE due to decision 188/QĐ-SGDCK on Dec 27 2007
Head office: 71, Quốc lộ 60, KP3, Town Châu Thành, District Châu Thành, Province Bến Tre
Phone: (84-75) 895 795/610 350
Fax: (84-75) 895 569
Stock type: common stock
Symbol: FBT
Par value: VND10,000
Listing volume: 15.000.000 shares (fifteen million shares)
Total value: VND 150.000.000.000 (VND a hundred and fifty billion)
Effective date of the listing license: December 27, 2007
First trading date: January 14th, 2008
Referred price on the first trading date: VND 45,000 /share
Price range on the first trading date: 20% compared to the referred price.

VFC: Inform of changes of positions in the company

VFC: Inform of changes of positions in the company
According to the conclusion of the meeting of the board of management of Vinafco Joint Stock Corporation (VINAFCO) on Dec 12 2007, the company inform the position changes as follows: (effective day: Jan 01 2008)
Ms. Nguyen Thi Thu Ha, Mr. Nguyen Van Nghia and Mr. Vu Trung Kien resign the position of Deputy Director General from Jan 01 2008

New positions from Jan 01 2008 as follows:
Mr. Trinh Ngoc Hien – Director General
Mr. Kieu Xuan Duong – Director of Department of Project Management
Ms Nguyen Thi Thu Ha – Director of joint venture management
Mr. Vu Trung Kien – director of market research and market development
Mr. Dao Hong Thuc – Financial Director
Ms.Nguyen Phuong Mai – Chief Accountant of the company

MPC: Inform of position nomination

MPC: Inform of position nomination
Jan 03 2008, MINH PHU SEAFOOD JOINT-STOCK COMPANY (MINH PHU SEAFOOD CORP) (MPC) announce the nomination as follows:
- Mr. Le Van Diep hold the position of Deputy Director General and the position of Director of Finance of MINH PHU SEAFOOD JOINT-STOCK COMPANY
- Effective decision day: from 01 Jan 2008

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