CTG – Vietinbank
CTG is the largest bank when measured by the number of branches and the second-largest by balance sheet in Vietnam. The major shareholders are the State Bank of Vietnam and MUFG Bank, the largest bank in Japan. Stock’s rerating is…
VRE – Vincom Retail
VRE is Vietnam’s biggest mall operator. Huge potential still ahead because retail and services businesses are still behind to be modernized. In the next 5-10 years much bigger share of those revenues will take place thru modern malls. IFRS implementation…
ACV – Airports of Vietnam
ACV manages eight international and thirteen domestic airports in Vietnam. In the balance sheet, there is a huge valuation difference, because the investments made by the company are still at the acquisition prices. The Covid-19 crisis enabled us to enter…
TPB – TP Bank
A small-sized bank, a pioneer in digital services. A key market share in car financing. Very popular among young customers. Major shareholders also include Japan’s Softbank and Vietnam’s leading information technology company FPT. Can grow loan and fee income fast.…
VEA – Vietnam Engine and Agricultural Machinery
Listed holding company. The business consists of the manufacture of cars and mopeds with joint ventures of Ford, Toyota, and Honda. The company is net cash and pays an excellent dividend, the dividend yield is now 10 percent. Maintaining growth…
HDB – HD Bank
A medium-sized bank focusing on general banking, consumer credit, and SME-financing. In steering position is Madam Thao, the richest Lady in Vietnam, the founder of the airline company VietJet. High-quality bank and modest valuation. Prudent style to manage risks. Whether…
VNFIN Lead
FIN LEAD fund value tracks the movement of VN Finlead Index, which is comprised of 20+ stocks in the financial industry selected by HOSE stock exchange. 90% of the portfolio is banks and the rest brokerages and insurance companies. 10…
SCS – Saigon Cargo
Saigon Cargo Service Corporation is one of Vietnam’s leading air freight companies. Even during a pandemic, the company has been able to make a reasonably good result. We bought the stock in the first wave of Covid-19 after the price…