HDBank (HDB VN) – Press Release on Acquisition of Dong A Bank
The State Bank of Vietnam (SBV) has announced the decision on the mandatory transfer of Dong A Bank into the ownership and managerial control of HDBank (HDB VN). HDBank will take full ownership of Dong A Bank after the mandatory transfer. HDB VN closed at VND22,500 per share on 17th January 2025, thus 6.0x P/E and 1.5x P/B.
VPBank (VPB VN) – Press Release on Acquisition of GPBank
The State Bank of Viet Nam (SBV) announced a decision on transferring mandatorily all the state ownership in GPBank to VPBank. After the acquisition, GPBank will operate as a standalone financial institution but still 100% owned by VPBank. VPBank also plans to inject capital (up to 20% of VPBank’s charter capital) to GPBank to help the latter recover its operations but it will require approval from shareholders. VPB VN closed at VND18,450 per share on 17th January 2025, thus 11.1x P/E and 1.0x P/B.
VIMC, formerly Vinalines (MVN VN) – Expecting yearly revenue of USD$3 billion by 2035
Currently, the state-invested shipping giant has 48 vessels in which there are 7 container ships, but has planned to grow its fleet by 20% annually in the next 5 years. Besides, ports will be upgraded or renovated to serve larger vessels and more trade routes. The company sets 2025 objectives in which revenue is VND20.3 trillion (about USD800 million, up +12% YoY). MVN VN was last traded at VND74,300 per share on 17th January 2025, therefore 45.1x P/E and 7.3x P/B.
RALACO (RAL VN) – Appointed two new DCEOs
The company promoted Mr. Nguyen Hoang Kien – former LED factory manager, to DCEO, in charge of R&D and Productive Efficiency. At the same time, Mr. Quach Thanh Chuong – former Head of Planning and Head of the Supervisory Board, was appointed as DCEO, in charge of Domestic Market Development and Green Transformation. This latter appointment also led to another change with Ms. Ton Nu Thanh Thien becoming the new Head of the Supervisory Board. Historically, RALACO typically declares dividends in April and August, the same time when annual and interim reports are available. RAL VN closed at VND per share on 17th January 2025, hence 4.6x P/E and 0.9x P/B.
VN-Index closes the week with an upswing
The VN-Index posted three consecutive higher closing sessions for a total of +1.63%, giving a positive signal heading into the inauguration of US President Trump being held Monday 20th.
Investor can see the full Newsletter below:
