Vietnam net export of wood and wooden products reached 7 billion US Dollars a year

by finandlife05/07/2019 10:43

Phu Tai Joint Stock Company (HSX: PTB) is the top 50 companies which had the best performance in Vietnam many years in a row. They set the target of leading Vietnam's wood industry, except for FDI enterprises.

Chairman Le Vy's business philosophy "invest synchronously from input to output, build factories even in crisis period helps to take advantage in good economic context.”


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Viet Tien Garment Corporation (UPCOM: VGG) is a good choice to catch up textile export trend

by finandlife26/06/2019 10:24

Textile exports returned to a strong growth cycle, the growth rate of TTM is over 18% yoy.

Free trade agreements Vietnam and European (EVFTA and EVIPA) are going to be signed at the end of June. When it’s done, Vietnam is the second country in ASIAN (beside Singapore) which has those advantages.

Viet Tien Garment Corporation (UPCOM: VGG) is one of the leading textile enterprises in Vietnam, with revenue reached VND 10,000 billion (equivalent USD 500 million) and net profit after tax reached VND 470 billion (equivalent USD 200 million) will be the good choice when investors consider to catch up that trend.

The balance sheet is healthy. VGG has strong net cash (VND 1,116 billion, equivalent USD 50 million).

ROE 28%, strong dividend yield.

VGG is sold below its fair value. This is a good deal.

If you have any questions please feel free to contact me via email




Simple investment case on cement company no capex

by finandlife23/06/2019 22:04

Dòng tiền kinh doanh mỗi năm gần 1850 tỷ, không capex, trả trái tức và cổ tức 1350 tỷ. EV hơn 9000 tỷ, tỷ suất sinh lời mỗi năm hơn 15%. Kinh doanh tăng trưởng ổn định 5%/năm, hoạt động trong ngành gắn với hạ tầng xây dựng.

Case đầu tư như vậy có hấp dẫn hơn phong trào mua trái phiếu doanh nghiệp bất động sản không đảm bảo, lãi suất 12%-14%/năm hiện nay?


Free cash flow is nearly 1850 billion dong annually, no capex, interests and dividends are 1350 billion dong. EV is more than 9000 billion dong. Return on Investment is over 15%. Earnings grows steadily 5% per year.

Is that investment case more attractive than buying unsecured real estate corporate bonds (interest rate is 12% -14% per year) now?




MWG announced the first 5 months of 2019, NPAT +39%yoy

by finandlife21/06/2019 16:14

MWG: Revenue and NPAT in the first 5 months of 2019 increased by 15% and 39% yoy. This result is mainly driven by the strong growth of the chain of malls, with revenue increasing by 23% over the same period. In addition, average sales per store went up 11% yoy, but the operating costs didn’t change lots.

BHX continued to grow well with an average sales / store estimate of VND 1.5 billion in May 2019, an increase of 7% compared to April 2019 and an increase of 22% compared to Q4 / 2018.

The consensus fair per share is around 160,000 dong, upside 80%.

We are issuing cover warrant for MWG. You are not Vietnamese, and you want to buy MWG stock. Please contact me via email




Giá thép xây dựng tăng trở lại có giúp cải thiện biên lãi gộp HPG

by finandlife30/04/2019 13:45

Giá phôi thép và giá thép xây dựng tăng trở lại mạnh mẽ từ cuối 2018 tại thị trường TQ do chính sách môi trường nhằm hạn chế nguồn cung của quốc gia này. Cùng lúc với đó, HPG đặt kế hoạch doanh thu lần đầu đạt 70k tỷ đồng, tăng 25% so với 2018 nhờ kỳ vọng dòng tiền mới từ những mẻ thép đầu tiên của nhà máy Dung Quất.

“The expected drop-off in mainland production is “driven by a suite of government policies,” including stricter environmental regulations, supply-side reforms reducing some loss-making capacity, and a push to cut debt, according to the department. At the same time, global output to 2020 is expected to largely hold steady, aided by expansions outside China, it said.







I am a Senior Associate – Investment at TOP 2 Securities Co., in Vietnam. I started working in investment field as a junior analyst at a Fund in 2007. I have more than 12 years of experience in investment analysis. I have a deep understanding of Vietnam macroeconomics, equity research, and seeking investment opportunities. This is my private Blog. I use this Blog to store information and share my personal views. I don't guarantee the certainty. And I am not responsible when the user uses the information from the Blog for trading/investing activities. If you have any questions, please feel free to contact me via email 

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