Huong Nguyen is a Vung Tau-based freelance business writer. She has a Bachelor's Degree in Commercial Business from the University of Economics HCMC. She writes articles about the Vietnamese business environment with insightful analysis.

HDBank: Vietnam Stock Overview

Huong Nguyen September 29, 2024

In the first half of 2024, HDB saw a significant uptick in its performance, with total operating income and pre-tax profit increasing by 32.9 percent and 48.9 percent year-over-year, respectively. This growth was primarily attributed to a more stable macroeconomic environment and a rebound in credit demand compared to 2023 during which banks in general faced a challenging financial environment with rising interest costs on deposits outpacing lending income…

Becamex IDC (real estate): Vietnam Stock Overview

Huong Nguyen September 25, 2024

Industrial land rental prices are on the rise. According to a report by CBRE, in the second quarter of 2024, Tier 1 industrial land rents in the North and the South reached US$134 and US$173 per square meter, up 4.5 percent and 1 percent year-over-year, respectively. This trend is expected to continue, which could provide a significant boost to BCM’s business results as demand for industrial space increases…

Bao Viet Holdings (Insurance): Vietnam Stock Overview

Huong Nguyen September 23, 2024

Notably, this month the non-life insurance market experienced a spike in compensation claims due to losses from Typhoon Yagi. Bao Viet received nearly 700 claims, with an estimated total value of nearly VND 1 trillion or US$40.6 million…

Mobile World (retail): Vietnam Stock Overview

Huong Nguyen September 19, 2024

In the first six months of 2024, MWG’s revenue increased by 15 percent compared to 2023 due to a broader economic recovery, stimulating consumer spending. Profit after tax also surged to US$84.1 million compared to US$1.6 million in the first half of 2023. This improvement was primarily driven by strategic restructuring efforts–the company laid off 5,936 workers and closed a bunch of underperforming stores…

SSI Securities Corporation: Vietnam Stock Overview

Huong Nguyen September 18, 2024

Despite positive business results in the second quarter of 2024, SSI shares experienced an 18 percent decline from April 1 to September 16. This downturn was attributed in part to broader market trends with the real estate sector underperforming and significant net selling by foreign investors…

KinhBac City Group (real estate): Vietnam Stock Overview

Huong Nguyen September 17, 2024

In March, KBC’s management board said it anticipated receiving investment approval for two projects by June 2024, namely the Trang Due 3 Industrial Park and Trang Cat Urban Area in Hai Phong City. This would have given the firm’s bottom line a significant boost. However, this did not come through with a report by SSI Research released on August 8, suggesting that the Trang Due 3 Industrial Park was unlikely to be completed this year…

Saigon Beer Alcohol Beverage Corporation: Vietnam Stock Overview

Huong Nguyen September 13, 2024

Notably, Sabeco is looking to acquire a majority stake in Saigon Binh Tay Beer Corporation, commonly known as Sabibeco Group, which produces beer under the Sagota brand. If Sabeco succeeds in taking control of Sabibeco, it would overtake Heineken as the largest beer producer in Vietnam…

Phu Nhuan Jewelry: Vietnam Stock Overview

Huong Nguyen September 12, 2024

Of note, Vietnam’s gold price exhibited a dramatic upward trend from the start of 2024, culminating in a peak of VND 92.2 million per tael or US$2,981.1 per troy ounce on May 11. This price represented a premium of approximately 20 percent compared to the global gold market at that time…

Asia Commercial Bank: Vietnam Stock Overview

Huong Nguyen September 11, 2024

In the first half of 2024, ACB’s total operating income and net profit rose by 5.5 percent and 4.7 percent year-over-year respectively. This positive growth was primarily attributed to a more stable macroeconomic environment and a rebound in credit demand. As a result, the stock price has risen by 21.2 percent from the beginning of 2024 to September 9…

PetroVietnam Fertilizer and Chemicals Corporation: Vietnam Stock Overview

Huong Nguyen September 10, 2024

It’s notable that domestic urea production capacity currently exceeds actual demand. While the annual domestic demand for urea is estimated to be between 1.6 and 1.8 million tons, domestic urea production capacity is approximately 3 million tons. To tackle this issue, large fertiliser companies like DPM are concentrating on growing their market share in NPK, a type of fertiliser that includes nitrogen, phosphorus, and potassium…

Vietjet Air: Vietnam Stock Overview

Huong Nguyen September 9, 2024

Moving forward, total demand for air passenger transport in 2024 is forecast to reach 84.2 million passengers, an increase of 15 percent compared to 2023. However, the aviation industry has been facing a shortage of aircraft due to a recall of Pratt & Whitney engines. VJC has had to temporarily ground 22 of its 85 aircraft for maintenance and repairs and this may last until 2025…

Vietnam Stock Reviews: Vietnam Rubber Group

Huong Nguyen September 5, 2024

GVR has earmarked industrial parks as a future growth driver as opposed to rubber. As the largest natural rubber producer in Vietnam, GVR owns 373,182 hectares of land in Vietnam and. In late 2023, the company received the Prime Minister’s approval for the conversion of nearly 25,000 hectares of this land to industrial parks…

REE Corporation: Vietnam Stock Overview

Huong Nguyen September 4, 2024

In the first half of 2024, REE’s revenue reached US$161.5 million, down 11.5 percent year-on-year. This is partly due to the El Niño phenomenon which has seen drought-conditions in parts of Vietnam, reducing water in hydropower catchments. Additionally, a government policy prioritizing coal-fired thermal power plants to conserve water during the dry season has limited hydropower’s participation in the electricity market…

Electronics Retailer Digiworld: Vietnam Stock Overview

Huong Nguyen September 2, 2024

As the core business of Digiworld, the electronic devices segment has been challenged by declining demand and intense competition–in the broader market, electronics retail chains like FPT Shop and Mobile World, have also closed a number of underperforming stores. With this in mind, Digiworld has implemented a horizontal development strategy, which involves adding new brands and entering new industries through mergers and acquisitions…

Vinh Hoan (seafood): Vietnam Stock Overview

Huong Nguyen August 30, 2024

Vinh Hoan, listed on the Ho Chi Minh Stock Exchange under the ticker VHC, is a leading Vietnamese seafood company. Established in 1997, it has become one of the world’s largest pangasius exporters, with a strong presence in the US and Europe…

Vietnam Stock Reviews: Gelex Group

Huong Nguyen August 29, 2024

In the first half of 2024, revenue and pre-tax profit experienced an increase of 3.8 percent and 74.4 percent compared to the previous year, respectively. The significant increase in pre-tax profit was partially attributed to the sale of majority stakes in three Gelex Group subsidiaries to Singapore’s Sembcorp. Of note, in August 2024, 300 million shares in Gelex Electric, a subsidiary of Gelex Group, were officially listed on the Ho Chi Minh Stock Exchange under the ticker GEE.

Gelex Electric: Vietnam Stock Overview

Huong Nguyen August 28, 2024

Of note, in August 2024, 300 million shares in Gelex Electric were officially listed on the Ho Chi Minh Stock Exchange under the ticker GEE. Previously, the stock had been traded on the Unlisted Public Company Market…

Vietnam Stock Reviews: Khang Dien (real estate)

Huong Nguyen August 27, 2024

In the first half of 2024, KDH’s revenue declined by 3.5 percent, and profit dropped by 32.5 percent compared to 2023. That said, Khang Dien has two major projects slated for sale in the fourth quarter of 2024, including the Emeria & Clarita—low-rise housing and apartment developments in Thu Duc City, co-developed with Singapore’s Keppel Land, featuring 200 townhouses, villas, and 600 apartments. As these projects are completed and launched, business results are expected to improve.

Vietnam Stock Review: Techcombank

Huong Nguyen August 22, 2024

In 2023, pre-tax profit and total operating income went on to decline by 10.5 percent and 1.2 percent year-over-year, respectively, mostly due to rising interest costs on deposits outpacing income from lending. This was common among many banks that had aggressively mobilized capital at high interest rates in late 2022 but subsequently struggled to lend after the housing bubble bursting in October of that year. That said, 2023 was a better year, with the stock price rising 45 percent from November 2022 to December 2023.

Vietnam Stock Reviews: Vinamilk (dairy products)

Huong Nguyen August 19, 2024

In the second half of the year, domestic consumption is projected to bounce partly thanks to a nationwide increase in the salaries of government employees, providing a strong stimulus for Vinamilk to grow. Additionally, Vinamilk is actively pursuing new opportunities by expanding its presence in global supply chains, focusing on emerging markets and leveraging free trade agreements…