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1

VN Index Intra Day

HNX Index Intra Day

MARKET SUMMARY (click here) 

VIETNAM MACRO SUMMARY (click here) 

ARKET WRAP

On HOSE 

Top 5 big caps diverged as GAS dropped 1.8%; BVH and VIC stayed flat; while MSN and VNM gained.09% and 2.46% respectively. Real estate tickers also diverged as HDC, KDH, PDR, SII slumped; BCI,XG, LCG, NVN, QCG, SC5, VRC moved sideways; while CII, DIG, DRH, HAG, HAR, HDG, HQC, IJC, ITA,

TC, KBC, LGL, MCG, NLG, NTL, NVT, PTL, PXL, SJS, TDC, TDH, UDC, VNI, VPH advance or even hiteiling in the end. Divergence was also seen among the banking stocks as BID increased 0.66%; MBBemained unchanged; while CTG, EIB, STB and VCB all decreased at the end. Securities brokerage (AGR,SI, HCM, SSI) altogether moved up at market close.

FLC topped of the liquidity list with over 11.32 mil shares changing hands. The ticker closed the day atND 11,900, up 4.38%.

Put-through value amounted to approx. VND 141.89 bil VND. VNM was the most crossed ticker870,000 shares) with net crossing value of approx. 113.1 VND bil.

Foreign investors continued to register as a net buyer on HOSE with net value of approx. 11.2 bil VND.hey mostly registered net buys of CSM with net value of approx. VND 9.18 bil while net sells of VSH withet value of approx. VND 26.89 bil.

On HNX 

With only ACB stayed flat; other top leading market indicators such as ACB, SHB, BVS, KLS, VND,VX, SCR and VCG accelerated under strong buying pressure.

PVX topped the liquidity list with over 4.71 mil shares being exchanged. The ticker closed the day atND 4,400, up 2.32%.

Foreign investors maintained their net buy status on HNX with value of approx. 36.34 bil VND. PVS washe most accumulated ticker with net value of approx. 23.52 bil VND while PVC was the most unloaded nameith net value of approx. 4.56 bil VND.

anking sector update

he following are the latest updates on the banking sector:

Credit growth as of June 2014 is 2.3%: This figure is lower than 4.72% YTD credit growth as of 30une 2013. Sluggish domestic demand is at the heart of impaired credit growth. Enterprises remain reluctanto borrow from banks as weak domestic consumption still lingers. The irony is that banks are only offeringoans to financially sound companies that are not in need of extra capital. At the same time, most companiesre in need of capital injection but do not have access. We believe that the target credit growth of 12% - 14% still attainable due to seasonable effect of lending activities (2H is the high season for lending activities) andanks are equipped with methods and techniques to achieve target credit growth by year end. However, if

ending is only heightened at year end, and this is obviously the predominant source of income for banks  – terest income accounts for 80% of total operating profit for banks in Vietnam, earnings will be negativelyffected in 2014.

redit growth NPL ratio 

Source: the State Bank of Vietnam (SBV) Source: the SBV

NPL ratio as of April 2014 is 4.03%: Since the beginning of 2014, NPL ratio of Vietnam’s bankingector has gradually increased. The increase in NPL ratio indicates that economic difficulties continue to ben issue which has exacerbated bad debts. Another reason could also be traced to Vietnam Asset

Management Company (VAMC) bad debt purchasing program which evidently has appeared to lost some ofs initial vigor.

In 6M14, Vietnam Asset Management Company (VAMC) has purchased bad debts worth VND1,414 billion, increasing total bad debts purchased to VND 50,751 billion. VAMC began purchasing badebts on 11 Oct 2013. In 2013, total purchased bad debts reached VND 39,337 billion, which indicates thatMAC has appeased its purchasing program. We have yet to see any signals related to selling bad debts to

oreign investors which we think is critical factor in resolving bad debts. Positive signals we are closelyatching are interests from foreign investors and revisions of Vietnam’s regulations on purchasing bad debtsf foreign investors.

CONOMIC WRAP

   M   A   R   K   E   T   M   O   V   E   M   E   N   T   S

SSI DAILY  CALLJuly 03 2014 

HNX- I NDEX78.90

0.82 (1.05%) Value: VND 744.3 bnForeigner (net): VND 36.3 bn

Market wrap:  The Vietnamese Stock Market advanced yesterday as energetic demand forces commanded the market from the opening towards the end.quidity surged perpetuated by robust money inflow.

Macro wrap: Update on Banking Sector data

quity wrap: Update on BMP

UMMARY

VN Index YTD

HNX Index YTD

Source: Stockbiz .vn

VN- I NDEX578.80

0.73 (0.13%) Value: VND 1,659.9 bnForeigners (net):VND 11.2 bn

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2

Binh Minh Plastic JSC (BMP:HOSE): Tax fine relaxed 

Plastic Pipe Analyst: Kien Nguyen, kiennt@ssi.com.vn 

BMP will not have to pay tax fine of VND 42 billion: As mentioned in recent reports, BMP was   retroactively tax

collected and fined VND 75bn and VND 42bn, respectively. BMP already paid the retroactive tax of VND 75bn to Ho Chi

Minh City taxation department and recorded the amount as an AR on its balance sheet, but has yet to pay the tax fine. BMP

sent an appeal to HCMC’s taxation department, requesting that it does not pay the both tax payments, but its appeal was

rejected. BMP continued to appeal to the General Taxation department. The department recently approved that BMP does

not have to pay the tax interest fine (VND 42 bn), but rejected the retroactive tax claim. Although BMP continues to appeal

for the retroactive tax, we believe that BMP has to pay the amount.

Estimated 2014 net profit to be revised up: We believe recent developments are encouraging news for BMP. In our recent

updated report, we expect that BMP must pay both amounts in 2014 and it will reduce BMP’s earnings and book value

significantly. We have revised up our net profit and EPS estimates for BMP in 2014 to VND 393bn(+6% YoY) and VND

8,632 (+6% YoY), respectively.

Investment view: We have also slightly revised up our 1Y TP from VND 86,700 to VND 87,500/share, equivalent to a 25%

upside. We reiterate our BUY recommendation for BMP at PER target of 10x.

EQUITY WRAP

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3

Market Data 

VN - INDEX LEADING MOVERS HNX - INDEX LEADING MOVERS

Ticker ClosePrice Change %Change Index pt Vol Ticker ClosePrice Change %Change Index pt Vol

VNM 125,000 3000 2.46% 1.48 1,136,720 1 PVS 30,000 500 1.69% 0.14 2,928,203

MSN 92,500 1000 1.09% 0.44 127,400 2 VCG 13,600 400 3.03% 0.11 1,610,460

BID 15,200 100 0.66% 0.17 650,420 3 NVB 7,000 400 6.06% 0.08 26,670,500

REE 27,400 800 3.01% 0.13 1,124,100 4 SHB 9,800 100 1.03% 0.06 3,157,122

KBC 11,500 500 4.55% 0.12 3,357,090 5 KLS 12,600 400 8.50% 0.05 100

VN – INDEX LAGGING MOVERS HNX - INDEX LAGGING MOVERS

Ticker ClosePrice Change %Change Index pt Vol Ticker ClosePrice Change %Change Index pt Vol

GAS 109,000 -2000 -1.80% -2.25 363,450 1 PVI 19,800 -200 -1.00% -0.03 3,518

STB 20,300 -200 -0.98% -0.15 362,440 2 VNR 20,600 -400 -1.90% -0.03 6,450

HPG 53,500 -500 -0.93% -0.14 380,940 3 TH1 26,200 -2900 -9.97% -0.02 600

VCB 25,900 -100 -0.38% -0.14 327,940 4 HGM 52,000 -900 -1.70% -0.01 1,000

VCF 160,000 -8000 -4.76% -0.13 170 5 NBC 10,200 -300 -2.86% -0.01 13,400

TOP 5 GAINERS (MARKET CAP>100 BIL. VND, AVER. VOL>30,000) TOP 5 GAINERS (MARKET CAP>100 BIL. VND, AVER. VOL>30,000)

Ticker ClosePrice Change %+/- T %+/-T+3 Volume Ticker ClosePrice Change %+/- T %+/-T+3 Volume

SRC 22,900 900 4.09% 13.37% 362,650 1 DCS 6,300 400 6.78% 10.53% 3,038,441

VHG 10,400 600 6.12% 10.64% 2,474,570 2 KSK 14,300 100 0.70% 10.00% 64,900PXL 4,400 200 4.76% 10.00% 935,380 3 SD4 10,000 0 0.00% 8.70% 20,100

BMC 34,500 -500 -1.43% 9.18% 96,550 4 VIG 5,100 300 6.25% 8.51% 1,370,330

DRC 53,000 1000 1.92% 9.05% 428,280 5 BCC 8,200 600 7.89% 7.89% 453,605

TOP 5 LOSERS (MARKET CAP>100 BIL. VND, AVER. VOL>30,000) TOP 5 LOSERS (MARKET CAP>100 BIL. VND, AVER. VOL>30,000)

Ticker ClosePrice Change %+/- T %+/-T+3 Volume Ticker ClosePrice Change %+/- T %+/-T+3 Volume

TSC 25,700 1000 4.05% -5.17% 94,680 1 S99 14,400 0 0.00% -7.10% 52,114

VSH 15,500 0 0.00% -3.73% 1,944,730 2 VFR 10,300 -400 -3.74% -6.36% 8,600

GAS 109,000 -2000 -1.80% -2.68% 363,450 3 VDS 5,000 -100 -1.96% -3.85% 31,700

HHS 22,000 -1100 -4.76% -2.65% 501,900 4 NDN 10,800 -200 -1.82% -3.57% 18,400

NHS 12,000 0 0.00% -2.44% 251,070 5 CMI 17,300 -200 -1.14% -3.35% 141,400

TOP 5 LEADING TURNOVER TOP 5 LEADING TURNOVER

Ticker Turnover ClosePrice Change %+/- T %+/-T+3 Ticker Turnover ClosePrice Change %+/- T %+/-T+3

VNM 146.21 125,000 3000 2.46% 2.46% 1 NVB 191.11 7,000 400 6.06% 7.69%

FLC 132.53 11,900 500 4.39% 7.21% 2 PVS 87.50 30,000 500 1.69% 3.09%

SSI 65.63 26,700 300 1.14% 3.09% 3 KLS 58.05 12,600 400 3.28% 4.13%

ITA 59.33 8,200 100 1.23% 1.23% 4 KLF 34.19 11,300 100 0.89% 1.80%

DXG 59.21 14,800 0 0.00% -0.67% 5 SHS 31.43 9,100 200 2.25% 4.60%

TOP 5 VOLUME RISING SURPRISES TOP 5 VOLUME RISING SURPRISES

Ticker Volume %Change ClosePrice Change %+/-T Ticker Volume %Change ClosePrice Change %+/-T

THG 6,190 309400% 10,100 200 2.02% 1 NPS 9,100 7483% 13,300 -1100 -7.64%

C21 8,980 224400% 20,400 700 3.55% 2 SDY 11,200 2335% 3,500 0 0.00%

RIC 1,100 54900% 8,300 0 0.00% 3 DNC 1,100 1733% 11,600 600 5.45%

TMP 7,200 5900% 22,100 0 0.00% 4 DAD 6,300 1475% 17,000 200 1.19%

TNA 5,010 3379% 27,500 1200 4.56% 5 CT6 15,700 1381% 8,100 -100 -1.22%

TOP 5 NET BUY VOLUME BY FOREIGN TOP 5 NET BUY VOLUME BY FOREIGN

Ticker ClosePrice Buy Vol. Sell Vol. Net Vol. Net Value Ticker ClosePrice Buy Vol. Sell Vol. Net Vol. Net Value

CSM 43,900 228,970 17,000 211,970 9.18 1 PVS 30,000 849,300 61,800 787,500 23.52

DRC 53,000 194,210 27,640 166,570 8.77 2 KLS 12,600 821,900 7,600 814,300 10.15

PVD 83,000 213,402 115,152 98,250 8.20 3 FIT 14,800 240,000 - 240,000 3.49

FCN 24,900 304,420 7,000 297,420 7.41 4 VCG 13,600 244,700 53,500 191,200 2.59

KBC 11,500 620,000 - 620,000 6.98 5 PPS 11,500 48,500 - 48,500 0.56

TOP 5 NET SELL VOLUME BY FOREIGN TOP 5 NET SELL VOLUME BY FOREIGN

Ticker ClosePrice Buy Vol. Sell Vol. Net Vol. Net Value Ticker ClosePrice Buy Vol. Sell Vol. Net Vol. Net Value

VSH 15,500 - 1,759,790 -1,759,790 -26.89 1 PVC 18,800 10,000 250,000 -240,000 -4.41

HAG 24,700 214,300 656,730 -442,430 -10.93 2 INN 30,500 - 50,000 -50,000 -1.45

VCB 25,900 21,500 235,440 -213,940 -5.54 3 SHB 9,800 39,900 76,300 -36,400 -0.35

DPM 32,200 56,730 188,330 -131,600 -4.25 4 BVS 13,200 - 9,000 -9,000 -0.12

KDC 60,500 7,740 50,000 -42,260 -2.55 5 PVX 4,400 - 20,000 -20,000 -0.09

TRADING STATISTICS

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4

Market Vectors Vietnam ETF

Ticker Exchange Shares WeightTradingvolume

on 1.7

5 daysTradingvolume

Price(VND)

EPS PEPrice

T+3PriceT+15

Net ProfitGrowth

1Q14/1Q13

MSN HOSE 9,597,030 7.38% 17,840 107,010 92,500 451 202.8 1.1% -5.6% -17322%

VIC HOSE 11,666,614 6.31% 21,680 130,080 64,500 8,310 7.8 1.6% -1.5% 275%

VCB HOSE 32,509,128 7.36% 60,440 362,640 25,900 1,653 15.7 -1.5% 6.6% 5%

BVH HOSE 16,321,866 5.65% 30,350 182,070 41,300 1,811 22.8 0.0% 4.3% 43%

DPM HOSE 20,939,190 5.67% 38,930 233,580 32,200 4,984 6.5 -0.6% -0.3% -46%

PVS HNX 21,933,750 5.43% 40,800 244,800 30,000 3,403 8.7 3.1% 11.9% 1%

STB HOSE 45,199,031 7.77% 84,040 504,190 20,300 1,916 10.7 -1.5% -2.4% -8%

TA HOSE 50,671,041 3.44% 94,170 564,990 8,200 79 102.4 1.2% 2.5% 855%

VCG HNX 28,238,897 3.13% 52,500 315,000 13,600 1,018 13.0 3.0% 3.8% -121%

PVD HOSE 5,461,266 3.82% 10,150 60,900 83,000 7,789 10.7 -0.6% -0.6% 42%

SHB HNX 41,021,200 3.34% 76,300 457,800 9,800 912 10.6 5.4% 6.5% 33%HAG HOSE 15,831,755 3.25% 29,430 176,580 24,700 1,691 14.5 1.6% 0.8% 334%

OGC HOSE 22,485,956 2.04% 41,810 250,830 11,000 227 47.7 1.9% 0.9% -75%

PVT HOSE 10,721,055 1.10% 19,930 119,530 13,000 944 12.9 6.6% 6.7% 14%

GMD HOSE 5,297,136 1.50% 9,850 59,100 33,600 269 125.8 -0.9% 1.5% -73%

PPC HOSE 7,715,110 1.32% 14,340 86,040 20,500 2,857 7.1 0.5% -1.0% -77%

db x-trackers FTSE Vietnam UCITS ETF Last updated on: 27-Jun

Ticker Exchange Weight Price (VND) EPS PE Price T+3 Price T+15Net Profit

Growth1Q14/1Q13

MSN HOSE 0.14% 92,500 451 202.8 1.1% -5.6% -17322.5%

VIC HOSE 0.14% 64,500 8,310 7.8 1.6% -1.5% 274.7%

HPG HOSE 0.14% 53,500 4,913 11.0 0.0% 7.0% 90.5%

PVD HOSE 0.10% 83,000 7,789 10.7 -0.6% -0.6% 41.8%

STB HOSE 0.08% 20,300 1,916 10.7 -1.5% -2.4% -8.1%

HAG HOSE 0.08% 24,700 1,691 14.5 1.6% 0.8% 334.1%

VCB HOSE 0.06% 25,900 1,653 15.7 -1.5% 6.6% 4.8%

DPM HOSE 0.05% 32,200 4,984 6.5 -0.6% -0.3% -45.9%

TA HOSE 0.03% 8,200 79 102.4 1.2% 2.5% 854.7%

KBC HOSE 0.02% 11,500 436 25.2 0.9% 6.5% 125.0%

BVH HOSE 0.02% 41,300 1,811 22.8 0.0% 4.3% 43.4%

HSG HOSE 0.02% 44,700 4,120 10.7 1.1% 4.0% -70.3%

GMD HOSE 0.02% 33,600 269 125.8 -0.9% 1.5% -73.0%

VSH HOSE 0.02% 15,500 1,035 15.0 -3.7% -6.1% 36.2%

PPC HOSE 0.01% 20,500 2,857 7.1 0.5% -1.0% -76.5%

CSM HOSE 0.01% 43,900 5,506 7.7 7.3% 14.6% 14.4%

HVG HOSE 0.01% 23,600 1,605 14.6 -0.4% -5.6% 1.7%

DRC HOSE 0.01% 53,000 4,609 11.3 9.1% 23.0% 9.7%

PVT HOSE 0.01% 13,000 944 12.9 6.6% 6.7% 14.1%

DIG HOSE 0.01% 16,000 375 42.2 0.6% -4.8% n.a

OGC HOSE 0.01% 11,000 227 47.7 1.9% 0.9% -74.8%

OREIGN FUND FLOWS

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5

Shares MSCI Frontier 100 Index Fund Last updated on: 30-Jun

Ticker Exchange Shares Weight Price (VND) EPS PE Price T+3 Price T+15Net Profit Growth

1Q14/1Q13

MSN HOSE 1376320 0.91% 92,500 451 202.8 1.1% -5.6% -17322.5%

VIC HOSE 1182728 0.55% 64,500 8,310 7.8 1.6% -1.5% 274.7%

STB HOSE 2073286 0.31% 20,300 1,916 10.7 -1.5% -2.4% -8.1%

VCB HOSE 1230700 0.23% 25,900 1,653 15.7 -1.5% 6.6% 4.8%

DPM HOSE 658240 0.15% 32,200 4,984 6.5 -0.6% -0.3% -45.9%

BVH HOSE 288640 0.09% 41,300 1,811 22.8 0.0% 4.3% 43.4%

PVD HOSE 109120 0.07% 83,000 7,789 10.7 -0.6% -0.6% 41.8%

Source: Bloomberg

75%

85%

95%

105%

115%

125%

135%

145%

155%

165%

Oct-12 Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14

MXFMEAS Index VNINDEX Index

-50

0

50

100

150

200

250

300

350

400

   b  n   V   N   D

5-Jun 6-Jun 9-Jun 10-Jun 11-Jun 12-Jun 13-Jun 16-Jun 17-Jun 18-Jun 19-Jun 20-Jun 23-Jun 24-Jun 25-Jun 26-Jun 27-Jun 30-Jun 1-Jul 2-Jul

HOSE   9.7 5.8 8.8 39.8 26.0 39.4 -4.1 15.3 14.1 95.2 132 .4 367 .5 45.3 25.3 37.8 116 .8 140 .3 53.6 31.5 11.2

HNX   64.0 30.4 50.2 18.6 38.4 20.4 18.9 15.3 16.5 10.2 36.2 35.4 13.5 47.9 7.5 16.4 19.8 23.4 5.4 36.3

  Net Buy/(Sell) of Foreign Investors in the last 20 trading days (VND bn)

N Index vs. MSCI EFM Asia Index

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6

No. COMPANYBID

(VND'000)ASK

(VND'000)No. COMPANY

BID(VND'000)

ASK(VND'000)

Real Estate Electrical Home Appliances

1 EDEN JSC 7 8 40 POWER CONSTRUCTION JSC NO 1 10 10

2 TAN BINH REAL ESTATE JSC 9 8.8 41 VIETNAM POWER DEVELOPMENT JSC 3.6 4

3 SAIGON REAL ESTATE JSC- SGX 5 6 42 CADIVI 26 26.5

4PFV INVESTMENT AND TRADINGJSC

35 35 43HCMC ELECTRIC POWER TRADINGINVESTMENT CORP

9 10.5

5 PETROWACO PROPERTY JSC 3.7 4 Banking

6TOAN THINH PHAT ARCHITECTUREINVESTMENT CONSTRUCTION JSC

51 53 44KIEN LONG COMMERCIAL JOINT STOCKBANK

7 10

7BENTHANH LAND INVESTMENTCORPORATION

6.5 6 45VIETNAM INTERNATIONAL COMMERCIALJOINT STOCK BANK

11.5 14

8TIN NGHIA INDUSTRIAL PARKDEVELOPMENT JSC

9 10 46 ORIENT COMMERCIAL JOINT STOCK BANK 6 5.4

9 EXIM LAND CORPORATION 4.5 4.3 47VIETNAM ASIAN COMMERCIAL JOINTSTOCK BANK

8.2 8.4

Construction 48 DONG A BANK 7.8

10NO.8 INVESTMENT &CONSTRUCTION JSC

8.5 9.5 49MARITIME COMMERCIAL JOINT STOCKBANK

6.5 4.6

11 SONG HONG CORPORATION 4 4.5 50VIETNAM TECHNOLOGICAL ANDCOMMERCIAL JOINT STOCK BANK

9.8 9.6

12PHU HUNG GIA CONSTRUCTION &INVESTMENT JSC

24 24 51 SOUTHERN BANK 10 10

13 LICOGI 12 JSC 12 13 52 Vietnam Prosperity Bank – VPBANK 8.8 9

Equipments Finance & Insuarance

14DONG TAM JOINT STOCKCORPORATION

6.6 7 53 EVN FINANCE JSC 4.1 4.2

15 LA HIEN CEMENT JSC 3.4 3.5 54 FPT SECURITY JSC 12.5 14

16 CONG THANH CEMENT JSC 3 2 55 AU LAC SECURITIES JSC 10.5 10.5

17 HAUGIANG MATERIALS JSC 9 10 56 MILITARY INSURANCE COMPANY 8.5 9

Energy Coporation

19 SESAN4A HYDROPOWER JSC 12 12 57CONG NGHIEP CONSTRUCTIONTECHNOLOGY JSC

4.4 5

20 BAC HA HYDROPOWER JSC 10 10 58SAIGON COOP INVESTMENTDEVELOPMENT JSC

10 11

21 BINH DIEN HYDROPOWER JSC 10 10 59 PHUTHAI GROUP JSC 5 5

22 HUONG SON HYDROPOWER JSC 9 9 60 PETROLIMEX 7 8.8

Transportation Export/Import

23 AU LAC JSC 9 8.5 61 DANANG TERRIORAIL IXPORT JSC 10.5 11

24 NOIBAI AIRPORT SERVICES JSC 18.5 19.5 62VIETNAM OCEAN SHIPPING AGENCYCORPORATION

19 19

25 CAT LAI PORT JSC 13 13 63BAROTEX VIETNAM INVESTMENT&TRADING JSC

15 15

26 MAI LINH NORTH JSC 9.5 10 Technology

27NOIBAI CARGO TERMINALSERVICES JSC

51.5 52 64 SAIGON POSTEL CORP 7 7.5

28 VIETNAM COMMODITY EXCHANGE 13 14 65 FPT TELECOMMUNICATION JSC 30 31

Heavy Industry 66 FPT ONLINE JSC 50 52

29 THONG NHAT FLAT STEEL JSC 2 2 67SAOBACDAU TECHNOLOGIESCORPORATION

5 5.5

30TRUONG HAI AUTO JOINT STOCKCORPORATION

15 16 68VIETNAM PYRAMID NEW TECHNOLOGYCORP

9 10

31 CAO BANG CAST IRON& STEEL JSC 27 27 69 AUDIO VISUAL GLOBAL 32.5 33

32THANG LONG METAL WARESCOMPANY

5 5 Pharmaceutical

Light Industry 70ICA BIOTECHNOLOGICALPHARMACEUTICAL JSC

40 42

33 HANOI PLASTICS COMPANY 20 20 71 CANGIO PHARMACEUTICAL JSC 4 3.8

34 Vinh Tuong Industry 14.5 15 72 VIDIPHA CENTRAL PHARMACEUTICAL 20 2035 VAFCO 8 9 73 TAM DUC CARDIOLOGY HOSPITAL JSC 19 19.5

36THE SOUTHERN FERTILIZEECOMPANY

16 14 74 TRIEU AN HOSPITAL JSC 6 5.5

37NHABE GERMENT CORPORATION -JSC

41 43 Foods and Beverage

38HANOI TEXTILE AND GARMENTJOINT STOCK CORPORATION

9 10.5 75 QUANG NGAI SUGAR COMPANY 28 28.5

39 VIETTIEP LOCK JSC 37 38 76 VINH HAO MINERAL WATER CORP 40 59.5

Agri – Fisheries 77 VIET NAM THAI HOA GROUP 0.5 0.4

82CUU LONG SEAPRODUCTSCOMPANY

11 12 78HANOI BEER – ALCOHOL BEVERAGECORPORATION

185 180

83 AN GIANG PLANT PROTECTION JSC 55 66 79 MASAN CONSUMER CORPORATION 67.5 68

84MOCCHAU DAIRY CATTLEBREEDING JSC

37 37.5 80 SABECO 68 64

85 HAGL Rubber Company 34 35 81 HABECO 29 30

Source: Đầu tư Chứ ng khoán

OTC PRICE

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DISCLAIMER

The information, statements, forecasts and

projections contained herein, including any

expression of opinion, are based upon sources

believed to be reliable but their accuracy

completeness or correctness are not guaranteed,

Expressions of opinion herein were arrived at after

due and careful consideration and they were based

upon the best information then known to us, and in

our opinion are fair and reasonable in the

circumstances prevailing at the time, Expressions of

opinion contained herein are subject to change

without notice, This document is not, and should not

be construed as, an offer or the solicitation of an offero buy or sell any securities, SSI and other companies

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herein and may also perform or seek to perform

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