Market Recap
In the past week, the VN-Index witnessed four consecutive declines, ending the trading period at 1,174.85 points, a 101.75-point drop, marking the steepest weekly decline since October 2022. The trading volume on HoSE exceeded VND 130,589 billion, a 36% gain compared to the previous week. Similarly, the HNX also experienced four days of losses, with the HNX-Index closing at 220.8 points, a 20.54-point decrease. Trading volume on the HNX rose by more than 20%, reaching VND 10,563 billion.
Foreign Investment
Statistics from the HoSE indicate that foreign investors sold a net of 54.74 million units, with a corresponding net selling value of over VND 1,521 billion. On the HNX, foreign investors net bought 1.02 million units, with a net buying value of over VND 15 billion.
On the Upcom market, foreign investors net bought 1.17 million units, with a net buying value of nearly VND 36 billion. Thus, over the trading week from April 15-19, foreign investors net sold 52.55 million units, amounting to a net selling value of over VND 1,470 billion.
Sell and Buyback
Ms. Doan Hoang Anh, daughter of Mr. Doan Nguyen Duc (Bau Duc), Chairman of Hoang Anh Gia Lai Joint Stock Company (HAG), registered to buy 2 million shares via a matched order on the floor.
Mr. Doan Nguyen Duc’s daughter registers to buy 2 million shares via a matched order on the floor.
The transaction will be executed from April 19 to May 18 with the intention of increasing ownership percentage. Should the transaction complete, Ms. Hoang Anh’s shareholding will rise from 9 million to 11 million shares, equivalent to 1.19% of charter capital. It is estimated that the purchase of the registered shares will require approximately VND 25 billion.
Previously, on February 15, Ms. Doan Hoang Anh sold 2 million HAG shares as registered, reducing her ownership to the current 9 million shares.
Hoang Anh Gia Lai has approved the extension and confirmed the date for its 2024 Annual General Meeting of Shareholders to May 10 instead of April as previously announced. The company stated that it needs more time to plan strategies in accordance with the new situation and establish an appropriate plan for 2024.
In 2023, HAG recorded revenue of over VND 6,442 billion, a 26.1% increase year-on-year, while the parent company’s profit after tax reached nearly VND 1,664 billion, a 47.4% increase year-on-year.
Dragon Capital-related funds have sold 2.5 million HSG shares of Hoa Sen Group Corporation, reducing their ownership from 11.1% to 10.7% of charter capital. Of which, Wareham Group Limited sold 1 million shares, Hanoi Investments Holdings Limited sold 1 million shares, and Vietnam Enterprise Investments Limited sold 500,000 HSG shares.
Prior to this, on March 15, the Vietnam Enterprise Investments Limited fund under the Dragon Capital group sold 2 million HSG shares.
Dragon Capital-related funds have sold 2.5 million HSG shares of Hoa Sen Group Corporation.
Not only foreign funds but also Hoa Sen’s management has recently been continuously selling HSG shares. From March 7 to April 2, Mr. Tran Ngoc Chu, Executive Vice Chairman of the Board of Directors, sold 1.5 million HSG shares, reducing his ownership to 281,147 shares. On April 17, Mr. Bui Thanh Tam, Head of Administration, sold 390,900 HSG shares, reducing his ownership to 64 shares.
Exiting Real Estate
SMC Investment Trading Joint Stock Company (SMC) has eliminated certain business lines as registered business activities, including other support services related to transportation, goods handling and unloading, real estate business, and leasing of motor vehicles. Thus, after removing several business lines, SMC will continue to focus on its main business in the wholesale of metals and metal ores.
Prior to this, on April 11, SMC approved the transfer of its office building located at 681 Dien Bien Phu, Ward 25, Binh Thanh District, Ho Chi Minh City, with an area of 329.5 m2 and a transfer price of VND 170 billion.
In November 2023, SMC approved the transfer of land use rights, fixtures, and structures on the land at SMC Binh Duong – Dong An Industrial Park (Thuan An District, Binh Duong Province) with an area of 6,197 m2 and an expected selling price of VND 49 billion.
In January, SMC further approved the transfer of land use rights and assets attached to the land at SMC Tan Tao 2 – Tan Tao Industrial Park with an area of 9,096 m2 (lots 62-64, road number 3, Tan Tao Industrial Park, Tan Tao A Ward, Binh Tan District, Ho Chi Minh City). The expected transfer price is VND 126 billion.
From February 5 to March 4, SMC sold its entire 13.1 million NKG shares of Nam Kim Steel Joint Stock Company, reducing its ownership from 4.98% to 0% of charter capital.
SMC Investment Trading Joint Stock Company will continue to focus on its main business in the wholesale of metals and metal ores.
On April 8, SMC received HoSE’s decision to put SMC shares on the warning and control list from April 10 due to a negative retained earnings after tax in the 2023 audited report, as well as a negative profit after tax for the parent company shareholders in 2022 and 2023.
To address this issue, SMC has been strengthening the implementation of business solutions to achieve high efficiency. It expects to make a profit from the liquidation of financial investments and asset liquidation starting in the first quarter of 2024. In the second quarter of 2024, SMC will continue to monitor the macroeconomic situation in the steel industry and within the company to implement effective solutions for the operation and management of the company’s business activities.
From April 19 to May 17, Mr. Do Quang Vinh, Vice Chairman of the Board of Directors of Saigon – Hanoi Commercial Joint Stock Bank (SHB), registered to buy over 100 million SHB shares, with the intention of increasing his ownership to 101.1 million shares, or 2.79% of charter capital.
If the transaction is successful, Mr. Vinh will become the largest shareholder on the Board of Directors of SHB. It is estimated that Mr. Vinh will spend over VND 1,160 billion to complete this transaction.
In 2024, SHB aims to achieve pre-tax profits of VND 11,286 billion, an increase of 22%. Total assets are expected to reach VND 701,000 billion, charter capital to reach VND 40,658 billion, and bad debt ratio to be strictly controlled below 3%.
