External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Leading full-service brokerage firm in Vietnam. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>According to HSX, NVL and PDR are removed from the VN30 index basket; meanwhile, SSB and SHB will be replaced respectively in the next review.</li><li>Therefore, ETFs (E1VFVN30; FUEKIV30; FUESSV30; FUEMAV30) that are replicating the VN30 index will also have similar structural changes in their basket of component securities on the rebalancing date.</li><li>Specifically, we estimate that a total of 2.4mn shares of PDR and 8.7mn shares of NVL will be sold during the restructuring period, while 19.3mn shares of SHB and 11.5mn shares of SSB will be added. </li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

According to HSX, NVL and PDR are removed from the VN30 index basket; meanwhile, SSB and SHB will be replaced respectively in the next review.Therefore, ETFs (E1VFVN30; FUEKIV30; FUESSV30; FUEMAV30) that are replicating the VN30 index will also have similar structural changes in their basket of component securities on the rebalancing date.Specifically, we estimate that a total of 2.4mn shares of PDR and 8.7mn shares of NVL will be sold during the restructuring period, while 19.3mn shares of SHB and 11.5mn shares of SSB will be added. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>As a member of the Vietnam National Oil and Gas Group, the PV Gas Company was founded in 1990, with the mission of extracting, shipping, processing, storing, and selling gas and gas products.</li><li>The company was listed on HOSE in May 2012. PVGAS is the main supplier of dry gas to Vietnam's power facilities and fertilizer factories.</li><li>GAS will pay a FY23 cash dividend of 20% and stock dividend of 20%, increasing the outstanding shares to 2.29bn and marking the first time GAS has raised its charter capital since being listed. </li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

As a member of the Vietnam National Oil and Gas Group, the PV Gas Company was founded in 1990, with the mission of extracting, shipping, processing, storing, and selling gas and gas products.The company was listed on HOSE in May 2012. PVGAS is the main supplier of dry gas to Vietnam's power facilities and fertilizer factories.GAS will pay a FY23 cash dividend of 20% and stock dividend of 20%, increasing the outstanding shares to 2.29bn and marking the first time GAS has raised its charter capital since being listed. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Stock Recommendations (Vietnam Market)_August 2023

<ul><li>As a member of the Vietnam National Oil and Gas Group, PV Gas Company was founded in 1990, with the mission of extracting, shipping, processing, storing, and selling gas and gas products.</li><li>The company was listed on HOSE in May 2012.</li><li>PVGAS is the main supplier of dry gas to Vietnam's power facilities and fertilizer factories.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

As a member of the Vietnam National Oil and Gas Group, PV Gas Company was founded in 1990, with the mission of extracting, shipping, processing, storing, and selling gas and gas products.The company was listed on HOSE in May 2012.PVGAS is the main supplier of dry gas to Vietnam's power facilities and fertilizer factories.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Stock Recommendations (Vietnam Market) - June 2023

Equity Bottom-Up

<ul><li>FPT recorded net revenue of VND11,681bn (+20.1% YoY), driven by the Global IT segment’s strong growth of 32.3% YoY to reach VND5,438bn (in detail: Japan: +19.3% YoY; the US: +17.8% YoY; the EU: +18.2% YoY; and APAC: +95.1% YoY).</li><li>New orders saw stable growth of 44.1% YoY, reaching VND10,165bn.</li><li>Nevertheless, the domestic IT segment’s net revenue declined by 8.4% YoY to VND1,400bn, due to the short-term drop in demand for IT investment from enterprises.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

FPT recorded net revenue of VND11,681bn (+20.1% YoY), driven by the Global IT segment’s strong growth of 32.3% YoY to reach VND5,438bn (in detail: Japan: +19.3% YoY; the US: +17.8% YoY; the EU: +18.2% YoY; and APAC: +95.1% YoY).New orders saw stable growth of 44.1% YoY, reaching VND10,165bn.Nevertheless, the domestic IT segment’s net revenue declined by 8.4% YoY to VND1,400bn, due to the short-term drop in demand for IT investment from enterprises.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FPT Corporation (FPT VN Equity/ Buy) - Updated  - Bright spot amid dreary picture

External broker reports(aggregated public sources), Rong Viet Securities

Rong Viet Securities

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Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>The Tech sector shows continued resilience with revenue/PBT increasing by 21% YoY/20% YoY.</li><li>In which, global IT services revenue jumped +32% YoY despite US market have slowed down, and PBT margin inched 20 bps higher.</li><li>Domestic IT services remain muted as revenue/PBT down by -8% YoY/-80% YoY.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The Tech sector shows continued resilience with revenue/PBT increasing by 21% YoY/20% YoY.In which, global IT services revenue jumped +32% YoY despite US market have slowed down, and PBT margin inched 20 bps higher.Domestic IT services remain muted as revenue/PBT down by -8% YoY/-80% YoY.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FPT - Resilient Growth Despite Slowing Down Macros

Vietnam

FPT Corp is an information and communication technology company. The Company provides services in mobile distribution, systems integration, software outsourcing and development, Internet and e-media content, and computer assembly.

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FPT Corp (FPT VN)

ETF VN30 Monitor in 3Q23

According to HSX, NVL and PDR are removed from the VN30 index basket; meanwhile, SSB and SHB will be replaced respectively in the next review.

Mirae Asset Securities

Stock Recommendations (Vietnam Market)_August 2023

As a member of the Vietnam National Oil and Gas Group, the PV Gas Company was founded in 1990, with the mission of extracting, shipping,...

Mirae Asset Securities

Stock Recommendations (Vietnam Market) - June 2023

As a member of the Vietnam National Oil and Gas Group, PV Gas Company was founded in 1990, with the mission of extracting, shipping, processing,...

Mirae Asset Securities

FPT Corporation (FPT VN Equity/ Buy) - Updated - Bright spot amid dreary picture

The Telecommunications segment recorded net revenue of VND3,790bn (+9.2% YoY), while Education, Investment, and other segments saw net revenue of...

Mirae Asset Securities

FPT - Resilient Growth Despite Slowing Down Macros

The Tech sector shows continued resilience with revenue/PBT increasing by 21% YoY/20% YoY. In which, global IT services revenue jumped +32% YoY...

Rong Viet Securities

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