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PVT – Modest impact from IMO 2020 – Update

Company Note 27/12/2019    131

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  • 9M19 net profit rose 17.0% yoy, in line at 69.8% of our full-year forecast, thanks to contribution from new vessels.
  • We believe IMO 2020 would have limited impact on PVT; affected vessels could pass on the higher costs to customers.
  • Maintain Add and TP of VND21,000.

Market Price

Target Price

Dividend Yield

Rating

Sector

VND16,650

VND21,000

6.01%

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TANKER SHIPPING

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