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DXG – NRNote – 20180629

Company Note 29/06/2018    137

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  •  DXG has a dominant market share of 29% in Vietnam’s property brokerage business and registered industry-leading gross margin of above 80% in FY17.
  • DXG is a property developer with strong brand name in the mid-range segment. It has a sizeable landbank nationwide (702ha at end-2017).
  • Management is concerned about insufficient cash flow to fund its aggressive landbank expansion.

Market Price

Target Price

Dividend Yield

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Sector

VND26,800

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PROPERTY DEVELOPMENT

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