Economic&Financial Highlights 0211 CafeF

8/6/2019 Economic&Financial Highlights 0211 CafeF

1/17

Macroeconomic and

Financial Markets

Highlights in

February 2010

BriefingGLOBAL ECONOMY 1

Global food price (GFP) increased by 15% in the period from 10/2010 to

01/2011, food supply is under restrain

Global capital flows picking new trend into commodity markets funds

Concern for a new oil crisis due to political turmoil in Middle East and North

Africa

Global stock market gained positive increase

Viet Nam macroeconomic news 2

CPI February increased by 2.09% compared to 01/2011

FDI disbarment in two first months of 2011 reached USD 1.15 bil, a 4.5%

increase compared to 2010 SBV raised discount rate from 9% to 11%/year; average interbank

exchange rate from 18,932 VND/USD to 20,693 VND/USD

Credit growth target in 2011 is reduced to below 20%

Cancelling gold piece trading in free markets

Gold price increased by 6.09%; USD 3.3%; Euro 5.1%

Viet Nam stock market 6


2/17

Viet Nam stock market 6

Economic Financial Markets highlights in February

GLOBAL ECONOMY

Concerns of a new oil crisis

On 11 February 2011, Egyptian president Hosni Mubarak

officially announced his resignation after 29 year reign.

The mass protest kept enlarging after Friday preys in 7

other countries including Egypt, Iraq, Yemen, Jordan,

Bahrain, Tunisia and Saudi Arabia.

Libya the country with biggest oil reserves in Africa

witnessed its oil output decrease at least by 20% as

international oil companies reduced operation.

Political crisis in Middle East and North Africa exerted new

threats of a new oil crisis.

Global capital flows picking new trend

In the week ended on 23 February 2011, the amount of

capital flows into government bond funds, high interest

corporate bond funds in U.S recorded a 12 week increase.Energy funds absorbed over USD 1 billion.

Since the end of 2010, investors on global market

incessantly drove their attention to bond funds in newly

emerging markets and global market which made capital

flows into these funds enormously rose.

Investors confidence suffered from a heavy loss as turmoil

in Middle East and North Africa accelerated, inflation risk

significantly arose

Chinese economy taking second position in global

market

In 2010, Chinese economy officially surpassed Japan to

remark itself as the second economy in the world after U.S.

This is a historical milestone to both 2 economies: decline

and a sought for direction of a sluggish Japanese economy,

the pride and prudence of China as well as its increasing

global responsibility

In fact, the second position that GDP of China is taking is

only highly opinionated on numeric side. The main concern

is its quality. Average income per head in China is only 1/10

of Japan. According to World Bank, 100 million people in

China, approximately Japans population, are living with an

average income of under USD 2/day.

Global stock market

Changes of global indexes in 02/2011:

Index Changes

Dow Jones 3.17%

S&P 500 3.67%

Nasdaq 3.19%

FTSE 100 1.18%

DAX 1 95%


3/17


Macro economy Outstanding projects in February

DOMESTIC ECONOMY

Import: According to General Department of Vietnam

Custom, from 01/01 to 15/02/2011, net import figures reached

USD 2.1 billion 24.8% export figures, in which net import in

the first half of February was USD 1.21 billion

CPI: CPI in February increased by 2.09% compared to

January 2011. Among 11 commodities used for calculating

CPI, only Post and communication group witnessed an

approximately 0.01% decrease. Food commodities and

services and Healthcare are two groups with strongest

increase in 11 commodities. Food price increased by 4.53%.

FDI: In February, about USD 600 million were disbursed,

making a total of USD 1.15 billion FDI disbursement in two

first months of 2011, a 4.15% rise compared to 2010. The

most noticeable figure was seen with First Solar VietnamLimited Company in manufacturing sector with a total capital

of over USD 1 billion, registered by Singapore enterprises in

Ho Chi Minh city. Another one is the project named Da Nang

yacht limited company registered by British Virgin investors

with a total capital of USD 174 million

Budget deficit: Budget deficit figure in 2011: VND 120,600

bil, 5.3% GDP. Estimated state budget revenue in 2011: VND

Transferring shares of Mong Duong thermal electricity projects

to foreign partners

AES group, the main investor of Mong Duong thermal electricity

factory (Quang Ninh), completed negotiation to transfer 49%

projects shares to two foreign partners.

In detail, AES will transfer to Posco Power (Korea) and CIC (China)

30% and 19% respectively shares of AES electricity limited company

Mong Duong TKV, the company responsible for Mong Duong

thermal electricity factory 2.

Confiscating investment certificate of Ca Na steel project

The project of Vinashin Lion venture limited company with a total

capital of nearly USD 9.8 is accepted for 50 years in operation since

the day of investment certificate. This is regarded as the biggest FDIproject in investment value in steel manufacturing as well as in Viet

Nam to the day of investment certificate in September 2008.

Proposing Van Don airport project of USD 1 bil

In May 2010, Joinus (Korea) made a proposal for project

deployment in Quang Ninh with a total investment of over USD 1 bil.

Besides, Joinus expressed their intention to deploy the high way

project Ha Long Van Dong with an overall capital for the two


4/17


Finance - Banking

Interest rate

- VND interest rate:

Mobilizing interest rate at the beginning of February

remained almost unchanged at 13.5 14%/year.

In the second half of February, interest rate dramatically

increased to 17%/year as commercial banks announced

different discount programs. Short term lending interest rate for agricultural, export

sections is 12.5 14.5%/year, other business sections is

16 18%/year; non business sections is 18 20%/year.

- USD interest rate:

At the beginning of February, mobilizing interest rate

remained stable: demand deposit 0.2 0.5%/year, under

12 months 4.2 5.8%/year, over 12 months 4.5 6%/year,

the highest rate was recorded at 6.24%/year for 12 month

deposit of Navibank.

Lending interest rate showed little fluctuation and isrecorded at 6 6.6%/year for short term loans, 7

8%/year for medium and long term loans.

.

Interest rate policies in February

DOMESTIC ECONOMY

To the end of February, total outstanding loan estimated by

SBV increased by 3.4%. In non manufacturing sector, the

figure was recorded at VND 431,000 billion, proportioning

18.7% of total outstanding credit. Among 42 credit institutions

nationwide, 18 have a non manufacturing outstanding credit

of below 25%, 24 remain a high level.

.

Exchange rate

On 11/02/2011, SBV officially increased average interbank

exchange rate from 18,932 VND/USD to 20,693 VND/USD

(9.3% higher, also the highest increase in history) and

decreased exchange trading amplitude from +-3% to +-1%.

On the following days, interbank exchange rate was flexibly

modified instead of remaining fixed in a long period as

before. However, unpredictable movements on free markets

forced SBV to use many refraining measures.


5/17


DOMESTIC ECONOMY

According to SBV, the process will follow a gradual basic not to

damage the economy

Open gold trading floor is exposed to a VND 500 mil

penalty: According to the draft Decree on Administrative

Sanction in Monetary and Banking sector of SBV, trading

foreign currencies against official exchange rate, charging

illegal trading fee could be exposed to a penalty of VND 75

mil, 25 times higher than the present level (VND 3 mil).

Open gold trading floor will be under the heaviest fine of

VND 500 mil.

Gold saving in banks will not be exposed to Personal

Income Tax: In Circular 12 newly issued by Ministry of

Finance, amending Circular 84 and 02 instructing Personal

Income Tax Law, the most important point is the

supplementation of some types of incomes that are tax

free in terms of saving interest.

According to Circular 12, deposit interests that are freefrom tax include personal income generated from deposit

interest in VND, gold, foreign currency in credit institutions

in terms of demand deposits, term deposits, saving

accounts, deposit certificate, promissory notes, bills and

other deposit types fully paying principal, interest for

depositors as agreed and interest from insurance

contracts. Therefore, gold depositors in terms of gold

certificates will not be exposed to Personal income tax.

In the 24/02 session, only VND 825 bil in total VND 6,000

bil of Government bonds issued by Treasury was offered,

an equivalent of 13.5%. Long term bonds were not

purchased as bidders ask for a high interest rate.

Consolidated business profit of banks 2010

STB: Profit before tax quarter 4/2010 reached VND 585.4

bil, 2010 VND 2,591.2 bil; profit after tax quarter for

reached nearly VND 364 bil, 2010 VND 1,095.5 bil, EPS

2010 is VND 2,411/share.

ACB: EBIT quarter 4/2010 was recorded at over VND

1,100 bil, a 28% rise compared to quarter 4/2009; EBIT

2010 reached VND 3,100 bil, slightly increased 9% against

2009. Profit after tax in quarter 4/2010 reached more than

VND 850 bil, grew by 28% compared to quarter 4/2009;

2010 the figure is VND 2,340 bil, an insignificant rise of 6%

compared to 2009.

VCB: EBIT quarter 4/2010 is VND 1,438 bil, 19% increase

compared to quarter 4 of 2009, EBIT 2010 reached

approximately VND 5,510 bil, increased by 10% against

2009. Profit after tax of parent company quarter 4/2010 is

nearly VND 1,140 bil, a 20% increase compared to 2009;

2010 is VND 4,200 bil, a 7.2% compared to 2009. EPS

2010 is VND 3,374/share

Techcom bank EBIT 2010 is VND 2,750 bil ( 21%

increase compared to 2009)


6/17


Commodity market

Increasing

electricity

price

On 23/02, Prime Minister Nguyen Tan Dung signed the Decision to raise electricity price by 15.28% from 01/03.

Compared to average price (excluding VAT) in 2010 of VND 1,058/kWh, the new price is VND 1,220/kWh which is

accounted for an upward level of nearly VND 160/kWh. Deputy of Ministry of Commerce and Trade, Hoang Quoc

Vuong, said that there is no certain proof whether electricity price will keep increasing or not.

Increasing

gasoline price

On 24/02/2011, Ministry of Finance officially allowed enterprises to increase petro price from VND 16,400 to VND

19,300, surpassing the 2008 record. Diezel rose by VND 3,550/liter to VND 18,300 VND. Oil increased from VND

15,100 to VND 18,200/liter. Mazut oil increased from VND 12,690 to VND 14,800/kg.

From 24/02: Reduce import tax of oil and mazut to 0%. On 14/01, Ministry of Finance also reduced import tax of main

gasoline products to 0%.

Increasing

motorbike, car

price

Honda only changed prices about 2% - 5% to support customers.

Ford Viet Nam : Compared to unmodified prices, newly proposed retail prices presented a positive gap form VND

37,2 mil to VND 66,5 mil/car.

Toyota: New price list was announced after SBV changed VND/USD exchange rate. Trading level increased from

VND 19,500 to VND 20,900.GM Daewoo: Newly modified retail prices increased about 7.2% compared to old levels, approximately the same to

the effecting level of exchange rate to car prices.

Truong Hai: Modifying levels to Kia was lower than others.

Gas

On 01/02, gas price unexpectedly decreased more than VND 20,000/bottle. Retail gas price will stay around VND

303,000 307,000/ 12kg bottle.

On 11/02 gas companies decided to increase gas price by VND 17 000 due to a 9 3% rise of exchange rate by SBV

DOMESTIC ECONOMY


7/17


15 symbols with high influence on Vn - Index

STOCK MARKET

After Tet holiday, the faint upward trend in only two sessions

was soon replaced by a continuously strong downward trendafterwards.

Unfavorable movements in February reflected forehead

difficulties such as high interest rate, high exchange rate,

tightening credit, inflation

However, market administrators showed positive signs such as

the intention to allow selling buying stocks in the same

session; draft on margin trading rate.

Strong decrease of VN index was generated from the fall instocks with high attribution to Vn Index such as BVH: (-

19.7%); SSI, KBC (-18%), PVF (-17%), DPM (-15%), FPT,

HAG (-14.3%)..

Shares with biggest influence on Vn Index in February

Stocksymbol

Priceon28/01

Priceon28/2

%change

Number ofpointscontributing todecrease of Vn -Index

BVH 89.0 71.5 -19.7% -11.25

HAG 56.0 48.0 -14.3% -3.31

PVF 25.3 21.0 -17.1% -2.48

DPM 42.6 36.2 -15.0% -2.30

HPG 38.7 31.8 -17.8% -2.08

KBC 37.0 30.3 -18.1% -1.87

SSI 29.8 24.4 -18.1% -1.79

VNM 93.5 88.5 -5.3% -1.67

FPT 63.0 54.0 -14.3% -1.65

SJS 67.0 51.0 -23.9% -1.52

Total -29.90

Vn-Index 510.6 461.4 -9.64% -49.23

Stocksymbol

Priceon28/01

Priceon28/2

%change

Number ofpointscontributing toincrease of Vn -Index

VIC 94.5 107.0 13.2% 4.52

VPL 44 4 53 0 19 4% 1 46

No Stocksymbol

Listed value(VND bil)

Overallmarket

proportion% accrued

1 BVH 51,035 10.3% 10,3%

2 MSN 44,056 8.9% 19,1%

3 VIC 42,334 8.5% 27,6%

4 VNM 31,247 6.3% 33,9%

5 HAG 20,974 4.2% 38,1%

6 EIB 15 735 3 2% 41 3%


8/17


9/17


Foreign trading

STOCK MARKET

Foreign investors ended 16 months of net buying on HoSE.

After net selling VND 2,170 bil on 09/2009, foreign investors

remarked their 16 months of successive net buying on HoSE from

10/2009 to 01/2011 valuing approximately VND 19,300 bil.

Monthly net buying value (VND bil)

Ending February, foreign investors made a net selling of VND 1.18

bil on HoSE and a net buying of VND 159 bil on HNX.

Exchange rate modification played a vital role in influencing foreign

activities.

On changing stock value into USD, the bigger shares a foreign

in estor keeps the more losses he enco nters According to

At the end of 2009, Vien Dong pharmaceutical privately offered 3

million shares for this fund at VND 80,500/share.

Stocksymbol

Buyingvalue(Thousandunits)

Sellingvalue(thousandunits)

DifferenceAmount(thousandunits)

Value(VND bil)

CTG 4688.5 723.8 3964.7 101.3

ITC 3824.7 295.8 3529.0 84.4VND 5193.5 1136.5 4057.0 79.8

PVD 2447.5 1242.7 1204.7 71.5

VCB 2952.4 1267.8 1684.6 61.1

DPM 2527.0 1540.3 986.8 44.5

PVS 1748.6 243.5 1505.1 33.6

VCG 1260.9 356.0 904.9 19.7

VSH 2136.0 723.3 1412.6 17.8

PVX 2509.4 1671.5 837.9 16.1

Shares with biggest net buying value

Stocksymbol

Buyingvalue(Thousandunits)

Sellingvalue(thousandunits)

DifferenceAmount(thousandunits)

Value(VND bil)

VIC 644.5 1661.7 -1017.2 -105.3


10/17


Outstanding enterprise news in February

In two months time, companies paid VND 5,249 bil

dividend

It is impossible to collect the percentage of dividend in

cash received by investors/institutions which are used to

re invest in stock market. However, this could be

considered as a potential source of money for market in

the forthcoming period.

According to CafeF, in two first months of 2010, total

dividends paid to listed companies in cash are VND

5,249 bil. In which, CTG and EIB paid over VND 1,000 bil

in cash for dividend.

The total dividend in cash enterprises registered to pay in

03/2011 reached VND 2,191 bil.

Many enterprises continued to register paying dividendsto shareholders. Noticeably, VIC asked shareholders to

extract VND 2,300 bil from 2010 profit to pay dividend.

VIC withdrew all of their 22.5 million shares of VIX,

equivalent of 75% capital, to focus on real estate business.

In the registry form, shares will be sold through agreement

and matching

KLS: Ask for shareholders opinion to change its operation

structure. The new business structure will not include

brokerage and issuance guarantee. KLS is going to focus onother fields such as real estate business, trade, electric

through purchasing a big deal of shares in many enterprises

to regain control.

DVD: Mrs Nguyen Thi Thanh Hue wife of Mr Le Van Dung

former Chairman of Board of Director and General Director

has been selected to be Chairman of Board of Director and

temporary General Director of DVD since 23/03/2011

Before being the new Chairman, Mrs Hue is the Director ofVien Dong Pharmaceutical joint stock company. She was

accepted by Board of Director to resign the current position

to be Chairman of Board of Director of DVD.

SSI: Board of Director decided to convert each SSICB2010

bond at VND 35,639/share into one share at VND

10,000/share. This price is 47.3% higher compared to

market value at 01/03 of VND 24,200.

STOCK MARKET

Business results in 2010

Profits of natural rubber enterprises: Thanks to industrial

th ll i i i ti l f bb


11/17


REAL ESTATE

Market news

In February 2011, real estate market gained manynegative information, however, land price tends to

present artificial increase, HCM city is encountering

difficulties in approaching customers, price of type A

office in HCM decreased by 10% compared to the end of

2010.

Asia Pacific office market increased by 1.5%,

meanwhile price of type A office in HCM decreased by10%.

Asian office market grew thanks to a strong recovery in

Chinese market such as Hong Kong, Beijing due to the

extension on demand of financial sector and extension

on business operation of multinational groups.

Type A office price in HCM decreased due to pressure

of supply surplus.

Real estate market encountering difficulties due to

exchange rate fluctuation

In February, USD/VND increased by 9.3% which

manipulated expense for customers buying houses on

USD because of exchange rate difference.

Land price in Soc Son increasing sharply

In 5 months nearby, land price of some regions in Soc Son

doubled. In detail, land price in districts such as Tan Dan,

Minh Phu, Nam Son stays around VND 3 -4 mil/m2; Minh

Tri, Thanh Xuan VND 4 4.5 mil/m2, In Bai Thuong, Nam

Cuong regions, average housing land is about VND 5 6

mil/m2, on 35 street is VND 25 mil/m

2, Thanh Xuan VND 6

7 mil/m2

in residential area and inner ward is about VND 10mil/m

2.

This upward trend in price is generated from the news of

moving universities to Soc Son such as Viet Nam Trade

Union university, Economics Technical Industry

University, National Institute for Clinical research and

tropical medicine, and the news of developing

transportation infrastructure such as trans Asian road

project, 35 street, T2 railway station,

Type A office Ha Noi 2011 - 2013 Lack of central ones,

surplus of western ones

In the period 2011 2013, there will be no new type A

office around Hoan Kiem area until 2013 with 30,000m2

ffi B id t t ffi i t l


12/17


Policy news

Tightening real estate credit

Following Resolution No 11/NQ-CP on 24/02/2011 on main

solutions in refrain inflation, stabilize macro economy, SBV

issued Instruction No 01 on detailed measures to reduce

speed as well as proportion of outstanding loan in non

manufacturing sector against 2010, especially real estate,

stock; until 30/06/2011, outstanding loan proportion in non

manufacturing sector is 22% of total maximum outstanding

loan; until 31/12/2011, this proportion will be at maximum

value of 16%.

If credit institutions can not follow this progress, SBV will apply a

double compulsory reserve.

Ministry of Construction submitting temporary apartmentposession

In February, there were rumors about Ministry of

Constructions proposal about temporary apartment

possession. However, according to Mr Nguyen Manh Ha

Head of Housing and Real estate market managing

department Ministry of Construction stated that there has

t b ffi i l t thi tt Al

REAL ESTATE

Ha Noi proposing constructing 6 highways

Axis Belt II: Buoi Nga Tu So Vinh Tuy;

Axis Belt III: Nam Thang Long Thanh Xuan Phap

Van

Axis Highway 32: Hoang Quoc Viet - Buoi;

Axis Phu Do Yen Hoa Belt II;

Axis Ton That Tung Belt III Belt 3.5;

Axis Phap Van Minh Khai.

Ha Noi considering Hong river crossing tunnel

construction

On 25/02/2011, Permanent Ha Noi Peoples Committee

met and made a submission on constructing Hong river

crossing tunnel in terms of BT proposed by VinGroup

joint stocks company and Truong An company (Ministry

of National Defense).

The location is from the ending side of Tran Hung Dao

across Hong rivier to Tu Dinh, Long Bien, about 18

20 id 3k l (i l di id ti l )


13/17


1. Market review

Market Scale HOSE HNX Upcom

Index 452.3 (-10%) 90.1 (-15.5%) 39.2 (-7.8%)

Total number listed companies 285 377 117

- New listed companies in thelatest 2 months 5 10 9

Capital (VND bil) 572,236 117,254 14,748

% Foreign ownership 15.5% 16.6% 3.1%

P/E 11.3 9.8 _

P/B 2.0 1.1 _(*) Data updated to 28/2/2011, in condition of lacking Q4 financial report of BVH

Money and Stock bids, orders in the first 2 months2011

Cash dividend (VND bil) 5,258

Cash received from capital raising issue (VND bil) 4,191Cash received from auction, IPO in stock exchanges(VND bil) 21

By the end of 02/2011, despite a total

figure of listed companies of 779

(50% increase compared to the same

period in 2010), total capitalization

was recorded with a modest rise

(5%).

In two first months of 2011, there

were 24 newly listed companies

(75% compared to 2010).

Basically, average P/E and P/B is

10.9 and 1.82 respectively.

Regardless of effects from BVH,

MSN, VIC, average P/E and P/B will

remain at 9.38 and 1.47.

Appendix 1: Stock market overview on two first months 2011

Dividend paid in cash reached VND 5,258 bil

(25% higher than total amount of capital

mobilized through additional issuance). In

which, 2 banks (CTG and EIB) paid more than

VND 3,300 bil dividend.

In accordance with an additional 200 million of

newly offered shares, the amount of shares

i d f it l i i d d t VND


14/17


2. Increase, decrease in stock price and trading scale of foreign investors

HOSE

Symbol % rise

Monthlyaveragetradingamount

Symbol % fall


VPL 19.9% 32,722 SBS -32.4% 208,591

VIC 18.9% 265,654 DVD -29.7% 115,908

KAC 15.4% 23,445 SRC -25.3% 117,763

CTG 13.2% 971,416 DRH -24.8% 124,798

FDC 10.1% 103,394 NVT -23.3% 631,438IFS 9.0% 46,443 VES -23.1% 30,978

NSC 8.8% 3,129 BBC -23.0% 58,389

TDC 7.5% 363,163 DCC -22.5% 1,037

BT6 7.2% 7,257 DIG -22.4% 124,243

DVP 6.6% 7,892 KSA -22.2% 259,534

HNX

Symbol % rise


Symbol % fall


HDO 39.8% 115,656 NGC -36.3% 813

SDC 26.6% 38 MCL -33.6% 29,494

DNC 21.5% 106 KHB -30.9% 26,350

MCO 20 4% 1 500 SSS 30 1% 19 013

In February, Vinpearl (VPL) and Vincom (VIC) showed the

most significant increase by 19.9% and 8.9% respectively.

Vietinbank (CTG) also remained a high growth rate of

13.2%, average trading amount reached approximately 1

million share/session.

On HNX, Container Hung Dao (HDO) rose the most rapidly

by 40% and also remained the highest liquidity in Top 10

symbols with strongest increase.

Penny stocks and stocks of company with unfavorable

business result in quarter 4/2010 are two groups with

significant decrease. For example, SCR ( net loss of VND

7,4bil in quarter 4) fell by 27.6%, NVT (net loss of VND 12bil

in quarter 4) decreased by 23.3%.

Despite a positive business result in quarter 4, many stocks

such as DIG (VND 500 bil profit in 2010), BBC (VND 26 bil

profit in quarter 4), KSA ( VND 61 bil profit in 2010)remained their position in top strongest decrease this month

because of their over increase exceeding real value in the

previous period.


15/17


3. Business results statistics of listed companies on HOSE and HNX

A. Companies with exceptional profit in 2010 compared to 2009

Symbol FloorPAT 2009(VND bil)

PAT 2010(VND bil)

Profit growth(YoY)

Capitalisation(VND bil)

CapOrder

EPS2010

% targetachievedProfit2010

SRA HNX 0.01 2.76 26862% 22 616 1.57 N/A

KTB HOSE 2.45 198.10 7971% 608 130 7.39 N/A

THV HNX 0.68 36.82 5321% 418 173 0.67 N/A

BHC HNX 0.19 7.51 3800% 42 572 1.67 107%

KTT HNX 0.16 5.87 3594% 29 600 2.35 84%

VCG HNX 5.82 202.94 3386% 1.920 49 0.81 127%

PSI HNX 2.45 64.93 2550% 550 142 1.33 N/A

OGC HOSE 32.93 587.64 1684% 5.075 21 2.35 N/A

TCR HOSE 4.15 64.93 1464% 331 209 1.65 186%

AGC HNX 1.34 19.14 1330% 99 430 2.31 298%

PTL HOSE 12.76 180.44 1314% 1.050 85 1.80 162%

DQC HOSE 4.17 45.44 989% 610 129 1.89 101%CTA HNX 0.97 10.21 954% 88 449 1.28 96%

VHG HOSE 1.98 20.42 929% 300 225 0.82 150%

SBA HOSE 3.92 40.10 924% 340 200 0.89 201%

DTA HOSE 2.50 25.44 919% 109 416 2.54 N/A

KSA HOSE 6.42 61.54 859% 409 179 4.78 N/A

OCH HNX 8.01 76.60 856% 1.760 57 0.77 N/A

SCR HNX 53 03 495 80 835% 2 050 47 4 96 102%


16/17

15


No Project Investor Total capital Area Location Progress Description

1 Bemes Cau

Buou

Private

construction firm

1 Lai Chau

Cau Buou, Thanh

Tri, Ha NoiResidential area Bemes Cau Buou include 3 buildings: CT6A,

CT6B, CT6C with 1400 apartments, locating by street 70,

opposite with new residential area Cau Buou, Thanh Tri, Ha

Noi

2 Cleve Van

Phu

Inpyung Viet Nam

company

USD 421.5

mil

7,63 ha New metropolitan

area Van Phu, Ha

Dong

Foundation and basement

under construction

The project scale is 7.63ha with 7 slots for 15 high buildings,

total ground area of 1,045,562 m2

including 914,440 m2

for

commercial area, 131,123 m2

basement floor.

3 Hang Xanh

commercialoffice

Thuduc House

and Satraseco

VND 42,2bil 219 - 221 Xo Viet

Nghe Tinh, ward 17,Bnh Thnh street,

HCM city

The building is 8 floor high (1 ground floor, 7 office floors and 2

basement floors), total ground area 4,427.14 m

2

(including 2basement floors) not accounting for middle floors, is for use,

leasing office, commercial service center and other services.

4 Phuoc Thang

metropolitan

area

BR-VT Housing

development

joinst stock

company

VND 4,424

bil

123,8 ha Song Dinh, Vung

Tau

Newly certificated The project includes 756 villas and 723 houses. High

apartment block is composed of 8 buildings from 18 36

floors, resettling includes 3 buildings from 5 9 floors. Hotels

in combination with apartment include 01 block of 21-36 floors.

5 49 ha

metropolitan

area Vung

Tau

Hodeco VND 1.287

bil

49 ha Vung Tau Received investment

certificate

Including 490 adjacent apartments with an area of 51,702 m2,

ground area of 154,000 m2; 433 apartments, land area of

128,010m2, ground area 100,000 m

2and about 1,200

condominiums, hotels, etc.

6 Hodeco Sea

Villade

Hodeco VND 1.148

bil

47.471m2

Ward 10, Vung Tau

city

Received investment

certificate

Including 3 blocks with 850 apartments. Slot 01 and 1a are 33

floor high; slot 02 is 36 floor high. C1 and C2 hotel block are 21

floor high with 300 rooms.

7 High

apartment

block 505

Agrexim joint

stock company

VND 1.495

bil

17.377m2

No 505 Minh Khai

street, Hn

Preparing legal investment

procedures

APPENDIX 2: Updates on Outstanding real estate projects


17/17

16


Minh Khai

8 Nam Hoang

Dong I

Lang Son

manufacturing

and commercial

joint stock

company

VND 500 bil 57ha Border gate Dong

Dang Lang Son

Technical infrastructure

under construction

There are 1,400 adjacent land slots with area ranging from 85

m2

to 110m2

and more than 100 villa slots with area from 250

m2

to 350 m2.

9 City Horsedistrict 2

Real estate 11joint stock

company

VND 667.76bil

17.476m

2

District 2, HCM city Fulfilled compensation andsubmission for land use fee

Including 762 apartments, blocks with 17 floors. Total businessground area is 60,543 m

2.

10 7A Thoai

Ngoc Dau

Highway

Real estate 11

joint stock

company

VND 219 bil 3202m2

7A Thoai Ngoc Hau,

Hoa Thanh ward,

Tan Phu district,

HCM city

Estimated commencement

on 6/2011

The project is 20 floor high with 216 apartments

11 HUD3 - Hanel

building

HUD3 and Hanel VND 540 bil

2.700m2 Nguyen Duc Canh

street , Hoang Mai,

Ha NoiEstimated commencement

on quarter 2/2011

The project includes 21 normal floors, 1 basement floor with a

total area of 58,000 m2.

12 Residential

area Viet Han

5

Viet Han VND 700 bil 17ha Long Hai town,

Phuoc Hung, Long

Dien, Ba Ria Vung

Tau

Received investment

certificate

Disclaimer: The information herein is collected and edited by CafeF from public sources believed to be reliable, proved to be valuable for investors. However, we

take no charge in any risk or losses of investors when using information in this report.

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