Eximbank (EIB VN) - Long-term issuer credit rating by S&P: B+ with "stable" outlook.
According to S&P Global Ratings, Eximbank still had acceptable operating ratios and profitability ratios for FY2023 while restructuring its loan book as well as other investment portfolios to focus on retail and SME clients. In the disclosed list of major shareholders required by new regulations, Eximbank reported that it had 4 shareholders owning over 1% of total outstanding shares but no shareholder owning over 5%. GELEX Group JSC (GEX VN) and its relative VIX Securities JSC (VIX VN) are two largest shareholders with ownership of 4.9% and 3.6% respectively.
Previously, the State Bank of Vietnam had approved the plan of increasing ownership in Eximbank proposed by GELEX and following this approval, GELEX can increase its stake up to 10% (also the capped limit for a single institutional shareholder). For Q2.2024, Eximbank disclosed its business results with TOI of VND1,968 billion (about USD79 million, up +32.8% YoY) and net income of VND643 billion (about USD 26 million, up +52.1% YoY). EIB VN closed at VND18,350/s (down -2.4%, 1M, and down 1.9%, 6M).
Ha Do Group JSC (HDG VN) - Extraordinary General Meeting set on August 19th 2024
The company disclosed that its Record Date for Extraordinary General Meeting (EGM) is 19 August 2024 and the EGM will be held in September 2024. The disclosure did not reveal the purposes of the EGM but following the Board Resolution No.66/NQ-HDQT dated 30 July 2024 about the EGM convention, it may be related to the retirement of the current Chairman - Mr. Nguyen Trong Thong and election of new Chairman.
About Q2.2024 business results, Ha Do Group reported consolidated net revenue of VND560 billion (about USD 22 million, down -7.4% YoY) and net income of VND74 billion (about USD3 million, up +110.0% YoY). HDG VN closed at VND25,750 per share on 8 August 2024, down -20.5% from its recent peak of VND32,400 per share in mid-July 2024.
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