— 18.12.20

Vinhomes is the No. 1 housing developer in Vietnam with the vast and unrivalled land bank of 164 million square meters in residential GFA. Two key cities Hanoi and HCMC will be the company’s main growth drivers in the next…

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CTG – Vietinbank

— 31.12.19

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…

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VRE – Vincom Retail

— 17.02.21

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…

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ACV – Airports of Vietnam

— 21.04.20

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…

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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.…

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— 19.10.20

MBB is the 5th largest bank by balance sheet and has a full-fledged banking platform including retail/SME lending, insurance, and brokerage. MBB launched creative marketing campaigns that expand its retail market share rapidly this year. It also witnessed success in…

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HDB logo

HDB – HD Bank

— 11.03.19

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…

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— 16.11.22

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…

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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…

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