Source - RNS
RNS Number : 8617J
VietNam Holding Limited
14 September 2016
 

VietNam Holding Limited ("VNH" or the "Company")

Monthly Investor Report

A report detailing the activities of the Company for the month of August 2016 has been issued by VietNam Holding Asset Management Limited, the investment manager of the Company. Electronic copies of the report have been made available to shareholders on the Company's website at http://www.vietnamholding.com/publications/investor-reports and a summary of the report is included below.

 

Investor Report Summary

Vietnam News

Economic data continued its overall positive trend, with manufacturing production up 9.7% YoY in the first eight months, electricity generation up 11.6%, real retail sales up 7.2%, inward FDI up 9%, and exports in dollars up 5.5%. Instances of foreign investor interest abound, with Siam City Cement buying out Holcim's Vietnamese operations for USD 582mn; LG at an advanced stage of considering smartphone, washing machine, and camera module plant investments (also in the hundreds of millions of dollars); and Singapore's Government Investment Corporation having announced the purchase of a 7.7% equity stake in leading bank VCB. Meanwhile, a Financial Times-backed survey has rated Vietnam the top scoring FDI destination of any country on earth.

 

VNH Insights

August was a very good month for VNH: NAV per share was up 6.1% to USD 2.826 versus the VNAS index's + 2.4%. VNH's calendar year performance of +26.6% is 12.2% ahead of the index.

Encouragingly, a small host of corporate scandals - not concerning any of VNH's investments - has failed to dent market sentiment, with the positive - and correct, in our opinion - view being taken that these reflect a reasonable level of rigor in ensuring that malfeasance is exposed and corrected.

Also positive is the announced decision to halt government credit guarantees for new SOE projects from next year onwards. The total stock of such SOEs on 31 December 2015 stands at USD 26bn, or 13% of GDP.

 

For more information please contact:

VietNam Holding Asset Management Limited

Tel: +41 43 500 28 10

 

Investor Relations

Gyentsen Zatul

[email protected]
www.vietnamholding.com


 



 

Smith & Williamson Corporate Finance Limited Nominated Adviser

Tel: +44 20 7131 4000

 

Azhic Basirov / Ben Jeynes


 



 

Winterflood Investment Trusts
Broker

Tel: +44 20 3100 0301

 

Joe Winkley / Neil Langford


 



 

Buchanan Communications
Financial Public Relations

Tel: +44 20 7466 5000

 

Charles Ryland / Vicky Watkins


 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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