Last week, the VN-Index rose 20.33 points to 1,272.04. Similarly, the HNX-Index increased by 1.88 points to 234.3.
On the HoSE, foreign investors bought a net amount of 25.9 million units, with a total net buy value of over 1,223 billion VND. On the HNX, foreign investors have been net buyers for five consecutive sessions, purchasing a total of 2.39 million units, with a net buy value of over 71 billion VND.
In the Upcom market, foreign investors sold a net of 2.55 million units, with a total net sell value of over 64 billion VND. Thus, during the trading week from September 16 to 20, foreign investors net bought 25.74 million units on the overall market, with a corresponding net buy value of nearly 1,230 billion VND.
Continuing to sell
Mr. Nguyen Duc Tai, Chairman of the Board of Management of Mobile World Investment Corporation (stock code: MWG), has just sold 1 million MWG shares to reduce ownership from 33.4 million shares to 32.4 million shares, equivalent to 2.22% of Mobile World’s capital; the transaction was made from September 9-19. In June, Mr. Tai successfully sold 2 million MWG shares.
Mr. Nguyen Duc Tai has just sold 1 million MWG shares.
In addition to Mr. Tai, Mr. Dang Minh Luom, a member of the Board of Management of Mobile World, also registered to sell 1 million MWG shares from September 25 to October 24. The transaction aims to meet personal financial needs, through the method of agreement or order matching. If the transaction is successful, Mr. Luom will reduce his ownership in MWG from 3.2 million to 2.2 million shares.
A group of funds related to Dragon Capital has just sold 1.05 million MWG shares of Mobile World Investment Corporation to reduce ownership to 7.99% of charter capital. Specifically, Norges Bank fund sold 500,000 shares, Amersham Industries Limited fund sold 500,000 shares, Hanoi Investments Holdings Limited fund sold 300,000 shares, and Wareham Group Limited fund bought 250,000 shares.
At the end of 2023, when investors questioned the persistent net selling of foreign investors, Mr. Nguyen Duc Tai stated that this could be due to concerns about financial performance, worries about Bach Hoa Xanh’s breakeven, or the recovery of the Mobile World chain.
“Those with faith will remain calm and confident in the company’s restructuring efforts, seeing it as an opportunity to buy. Those who lack faith in the business may choose to sell,” said Mr. Tai.
Immediately after, Mr. Nguyen Duc Tai made two transactions to purchase MWG shares. Specifically, from December 12, 2023 to January 10, 2024, Mr. Tai registered to buy 500,000 shares to increase his ownership to 2.44% of charter capital. However, Mr. Tai was only able to purchase 200,000 MWG shares.
In the transaction made from November 8 to December 7, 2023, Mr. Tai only purchased 110,000 MWG shares out of the registered 1 million shares, equivalent to an 11% success rate, to increase his ownership to 2.41% of charter capital. Mr. Nguyen Duc Tai attributed the reason for not purchasing all registered shares to market conditions not being favorable.
MWG has completed 61% of its 2024 revenue plan.
In the first seven months of the year, MWG recorded net revenue of 76,541 billion VND, up 15% over the same period. Thus, MWG has achieved 61% of its revenue plan. Cumulatively, in the first seven months, the total revenue of the Mobile World and Dien May Xanh chains reached 51,300 billion VND, up more than 6% over the same period. Bach Hoa Xanh contributed about 23,000 billion VND to MWG’s revenue, an increase of 40% over the same period.
TDH continues to be forced to pay taxes
Thu Duc Housing Development Corporation (stock code: TDH) has just received a decision from the Ho Chi Minh City Tax Department on the enforcement of administrative decisions on tax management.
Accordingly, TDH is subject to enforcement of administrative decisions on tax management by deducting money from the company’s account in the amount of over 91 billion VND.
The Ho Chi Minh City Tax Department has repeatedly issued notices of enforcement of administrative decisions on tax management against TDH, and the company has also filed a complaint against the Ho Chi Minh City Tax Department to the Ho Chi Minh City People’s Court.
However, on September 9, TDH received a decision from the Ho Chi Minh City People’s Court to postpone the first-instance administrative trial with the content of postponing the trial to consider the case, which was received on June 14.
Kien Giang Construction Investment Consulting Group (CIC Group, stock code: CKG) has just sent a explanatory report on the progress of overcoming the situation of warned and controlled securities in the third quarter of 2024 to HoSE.
TDH is subject to enforcement of administrative decisions on tax management by deducting over 91 billion VND from the company’s account.
Accordingly, on April 9, HoSE announced that it would maintain the controlled status of CKG shares due to late submission of the 2023 audited consolidated financial statements, exceeding 90 days from the end of the fiscal year.
CKG has provided explanatory reports and updates on the progress of overcoming the controlled securities situation. In this latest report, CIC Group stated that on April 2, the company had published its 2023 consolidated financial statements and completely addressed the issues mentioned in HoSE’s April announcement.
“To help the company soon recover production and business activities, create trust for shareholders, investors in the stock market, and assure employees, the company proposes that HoSE soon consider and decide to remove CKG shares from the warning and control list in accordance with regulations,” the CIC Group’s report stated.
The New Account Openings Surge: Why is Liquidity Still Low?
The stock market remains stagnant as investors continue to observe economic developments and the actions of foreign investors. The stock market is also competing with other investment avenues to attract short-term capital.
