PV Power (POW VN) - October 2024 IR newsletter
In the IR newsletter for October 2024, the Invested power plant owner announced that Its monthly non-tax revenue from electricity generation clocked at VND2,194 bilion (about USD87 million, down 1.8% SVCK). For Q3 2024 business results, PV Power reported net revenue of VND6,061 billion (about USD240 million, up +6.7% SVCK) and net Income of VND396 billion (about USD15.7 million, up +379.5% SVCK), leading to 68% and 135% completion of FY2024 projected revenue and profit respectively. POW VN closed at VND11,700 per share on 8th November 2024, down -23.5% from its 52-week high, hence 19.6x P/E and 0.9x P/B.
Van Phu Invest (VPI VN) - VIAC Limited Partnership becomes major shareholder
Following the company's information disclosure, VIAC LP-a fund overseen by Vietnam Oman Investment (VOI), exercised its conversion rights and received 29.65 milion common shares, equivalent to 9.3% of shares outstanding. The real estate developer reported its Q3 2024 financial results with net revenue of VND853 billion (about USD33.7 million, up +217.3% SVCK) and net income of VND110 billion (about USD4.4 million, up +178.7% SVCK). VPI VN closed at VND58,300 per share on 8th November 2024, down -0.3% from its all-time high few days earlier, thus 70.0x P/E and 4.7x P/B.
Deo Ca Infrastructure (HHV VN) - Upcoming private placement of VND415 billion
The Board of Directors passed a resolution on new private placement of 41.5 million additional shares, equivalent to 9.6% of current shares outstanding at an offering price of VND10,000 per share. Total proceeds of VND415 billion (about USD16.4 million) will be used to finance the Dong Dang Tra Linh Expressway project. 5 professional investors have been chosen to participate in this private placement but no information about their names, ID/BR numbers, current holding, or expectedly allotted shares are revealed. The infrastructure company reported its Q3 2024 financial results with net revenue of VND795 billion (about USD31.5 million, up +18.0% SVCK) and net income of VND104 billion (about USD4.1 million, up +3.1% SVCK). HHV VN closed at VND11,300 per share on 8th November 2024, down -26.8% from its 52-week high, thus 13.5x P/E and 0.6x P/B.
BIM Group: The founding chairman - Mr. Doan Quoc Viet, passed away on Thursday, 7th of November, 2024. BIM Group is a successful conglomerate, focusing on commercial real estate development, salt production, and renewable energy. In recent times, BIM offered USD$200 million of non-convertible unsecured bonds on SGX in 2021.
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