Analysis Center

Macro Outlook Capable of rising above global issues by distinct characteristics We maintain our GDP growth projection for 2022 to range between 5.9 – 6.8%. Positive economic signs, a recently passed stimulus package, high vaccination rates, the living-with-COVID strategy...

VIETNAM BANK FOR INDUSTRY AND TRADE (CTG) We reiterate our BUY recommendation with a target price of VND40,700 per share. Reduced provisioning pressure will support profit growth in 2022. High provision expenses making 2021’s profit have not yet surged...

Saigon Beer – Alcohol – Beverage Corporation (SAB VN) To recover in 2022 from COVID-19 negative effects – Maintain HOLD – Target Price: 151,247VND/share SAB announced its unaudited 2021 results with a top line of VND 26,373 bn (-5.7%...

KHANG DIEN HOUSE TRADING AND INVESTMENT JSC (KDH VN) Increase target price by 45% to VND62,870 and upgrade to Buy thanks to revaluation of projects in Binh Tan and Binh Chanh districts of Ho Chi Minh City Business result...

MOBILE WORLD INVESTMENT CORP (MWG VN) The company closed 2021 with decent growth despite the resurgence of COVID-19. Better momentum is expected for 2022 based on the assumption that operational interruption will not repeat. MWG will continue to enhance...

VINH HOAN CORPORATION JSC (VHC VN) Great advantage from current raw material price hike No significant impact from raw material price hike and strong barganing power to increase ASP. 0% anti-dumping tax and expected higher ASP from pollock –...