Pre-market notes

Market News

Oil held gains above US$45 a barrel after its biggest surge in seven months as OPEC boosted efforts to finalize a deal to cut production agreed at a September meeting in Algiers. Futures slid 0.2% in New York after advancing 5.8% on Tuesday, rebounding from the lowest close in eight weeks. OPEC Secretary-General Mohammed Barkindo will tour member states after meeting with Saudi Arabia’s Minister of Energy and Industry Khalid Al-Falih in London, according to a person familiar with the talks. Russia plans informal consultations with members from the Organization of Petroleum Exporting Countries in Doha from this week. (Bloomberg)

Vietnam Oct home sales increased in major cities. In particular, apartment sales rose by 18% MoM to 1,300 units in Hanoi and by 17% MoM to 1,225 in Ho Chi Minh City, Vietnam National Real Estate Association says in e-mailed statement. (Bloomberg)

Vietnam banks’ total assets rose to US$362bn through end-Sep. Accordingly, total assets in Vietnam’s lending system rose 10.6% to more than VND8,091trl (US$362.1bn) through Sep 30 vs end-2015, State Bank says on its website. Besides, banks’ chartered capital increased by 2.96% to VND478.4trl (US$21.4bn) as of end-Sep vs end-2015. (Bloomberg)

Corporate News

Petrolimex Petrochemical JSC (PLC VN) – 2016 business targets adjustment: Accordingly, 2016 revenue target is reduced by 17% to VND4.98trl.2016 and EBT goal is cut from VND387bn to VND246bn, citing information from company. For more information,  PLC’s 9M2016 net profit dropped by almost 50% to VND145.3bn. (Bloomberg)

Traphaco JSC (TRA VN) – estimated 2017 business results: Accordingly, 2017 revenue growth is projected at 12% YoY. In addition, 2017 profit is forecasted to grow at least 15%, citing Chairwoman Vu Thi Thuan. Besides, the company plans to issue new shares to existing investors next year. (Bloomberg)

Dat Xanh Real Estate Service & Construction JSC (DXG VN) – share issuance: DXG earned more than VND1.17trl from selling 135.7mn new shares offered to existing investors from Sep 08 to Nov 11, according to bourse filing. Notably, foreign holders own 42.7% stake after THE new share issuance. (Bloomberg)

Bank for Foreign Trade of Vietnam JSC (VCB VN) – share issuance: VCB will list over 932mn newly-issued shares on Nov 17. Thus, the total outstanding shares will be raised to almost 3.6bn shares, VCB says in stock exchange filing. Besides, VCB got permit for VND2trl public bond sales. (Bloomberg)

KPF Consultant International Project JSC (KPF VN) – dividend payment: Nov 23 and Nov 24 will be the ex-date and record date, respectively, for paying 2015 stock dividend at the ratio of 10:1. Thus, the company will issue 1.56mn shares to pay dividend. (Cafef.vn)

Saovang Rubber JSC (SRC VN) – dividend payment: SRC approves to pay 2016 cash dividend of VND1,000/share (est. 2016 dividend yield of 4.6%). The payment is expected before Dec 15. More information will be announced later. (Cafef.vn)

Hai An Transport & Stevedoring JSC (HAH VN) – treasury shares: HAH approves to purchase a maximum of 1mn treasury shares via order-matching and put-through methods in order to reduce the outstanding shares, support the stock’s trading, and increase shareholders’ value. The buyback will be expected after getting approval from State Securities Commission (SSC) and within 30 days from the first purchase date. (Cafef.vn)

 WTI vs Brent Future (1mth)

Source: Bloomberg