Corporate bond market

The auctions offered a total of VND5 trillion (US$219.25 million) worth of G-bonds with different maturities. Four tenures were offered at the HNX, including five-year and seven-year bonds valued at VND1 trillion (US$43.85 million) each alongside 10-year and 15-year bonds valued at VND1.95 trillion (US$85.5 million) each. The auction of five-year bonds mobilized VND64 billion (US$2.8 million) at the average interest rate of 2.97% per year. The rate was the same as that during the previous auction on April 24. Some VND1.045 trillion (US$45.8 million) worth of 10-year bonds were sold at the average yield rate of 4.15% per year in two auctions, 0.05% higher than those in April 18. A combined VND1 trillion (US$43.85 million) worth of 15-year bonds were purchased at the average yield rate of 4.5% in two auctions, an increase of 0.03% per year from the April 24 event. No bond was sold at the seven-year bond auction. The State Treasury of Vietnam has raised more than VND48.57 trillion … [Read more...] about US$92 million worth of G-bonds raised in May 2 auctions

Vietnam raises US$1.95 billion from G-bond so far this year. (Photo: hanoimoi.com.vn) According to the HNX, the latest auction was held by the State Treasury on April 18, offering a total of VND3.5 trillion (US$154 million) worth of G-bonds with different maturities.  Three tenures were offered at the HNX, including seven-year and 20-year bonds valued at VND1 trillion each (US$44 million), and 10-year bonds valued at VND1.5 trillion (US$66 million).  A total VND1.35 trillion (US$59.4 million) were raised after the auctions which fell below the issuer’s expectation. Of the three types, the auction of seven-year bonds drew the attention of 15 investors. VND200 billion worth of bonds were sold at the average yield rate of 3.43% per year. The rate was the same as that during the previous auction on April 4. Two auctions of 10-year bonds attracted 16 investors. A combined VND1.05 trillion worth of bonds were sold at the average yield rate of 4.1% per year, 0.05% higher … [Read more...] about Vietnam raises US$1.95 billion from G-bond so far this year

VEAM mainly produces agricultural equipment and machines, tractors, trucks and buses, as well as motorbikes and spare parts. — Photo cafef.vn The Viet Nam Engine and Agricultural Machinery Corporation (VEAM) announced it would pay a cash dividend of more than VND5 trillion (US$214.9 million) on January 21. According to the firm’s announcement, VEAM will pay the cash dividends for 2018 at the rate of 38.84 per cent of charter capital. With current prices, each share will get VND3,884. With nearly 1.33 billion shares, VEAM will spend VND5.161 trillion on the dividends. As the largest share holder of VEAM, with an 88.5 per cent stake, the Ministry of Industry and Trade will pocket VND4.56 trillion. According to the firm, its net profit reached more than VND5.1 trillion in the first nine months, an increase of 6 per cent year-on-year thanks to the dividends collected from its joint ventures of Honda (30 per cent stake), Toyota (25 per cent stake) and Ford (20 per cent stake). … [Read more...] about VEAM to pay $214.9 million dividend in cash

The Vietnam Gas Association has asked the Government to cut red tape for gas trading. LNG consumption in Viet Nam is expected to grow at an average annual rate of 10 per cent over the next decade. — Photo tbck.vn The association’s deputy director Tran Trong Huu said 70 stipulations were way too many – adding many of the conditions are repeated. He was speaking during a workshop organised by the Ministry of Industry and Trade (MoIT)’s Department of Domestic Market and the Institute for Brand and Competitiveness Strategy (BCSI). Huu’s thoughts were echoed by BCSI Director Vo Tri Thanh who feels lawmakers must rethink current policies – particularly as the gas industry plays an important role in local development. He said: “It is a chance for policy makers to build policies towards the development of an efficient and sustainable gas industry in the future in order to bring into full play the potential of developing Viet Nam's gas … [Read more...] about Vietnam gas association urges Government to cut red tape

Most banking stocks either lost or remained at opening prices. CTG of VietinBank and VCB of Vietcombank, two of Vietnam’s biggest state-owned lenders, fell 2.7 percent and 1.5 percent respectively, while BID of BIDV remained unchanged. In the mid-sized lenders’ bracket, MBB of state-owned Military Bank, HDB of private HDBank, and VPB of private VPBank, lost 1.8 percent, 1.4 percent, and 0.3 percent respectively. On the Ho Chi Minh Stock Exchange (HoSE), Vietnam’s main bourse on which the VN-Index is based, 178 stocks lost and 141 gained. The HoSE accounts for nearly 90 percent of market capitalization of all Vietnam’s listed companies. Liquidity of order-matched transactions rose slightly over the previous session to VND3.1 trillion ($133.24 million), the highest liquidity since December 16, but this was still lower than the November average of VND3.5 trillion ($150.45 million). The VN30 index for Vietnam’s 30 biggest market cap … [Read more...] about Bank stocks a drag on VN-Index