Pekka Mikael Nastamo

Market commentary: VN-Index rally extends; gains narrowed in the afternoon The VN-index continued to rise on the back of VN-30 blue-chips, ultimately finishing the day 7.0pts higher. As US stocks surged on hopes of US economic resilience, the VN-Index followed…

TPB’s 1Q23 net profit grew 8.8% yoy to VND1,413bn (fulfilling 21% of our FY23F forecast). TPB’s NP growth is expected to slow down to 9%/18% yoy in FY23-24F (2020-22 CAGR of 33.6%). Reiterate ADD with unchanged TP of VND31,000. Market…

DGW is one of market leaders in ICT product distribution with more than 6,000 points of sale (POS) in Vietnam. FY23F net profit is expected to drop 28.8% yoy following weak domestic demand but will get back to 23.3% growth…