CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
Valuations of Vietnam’s listed firms remain appealing: Dragon Capital Chairman
Anh Minh 16:56, 2018/07/04
The Vietnamese stock market has not been immune from ongoing uncertainties in global markets caused by the strengthening of the US dollar and trade tensions between the US and its major trading partners.
Valuations of stock exchange-listed companies in Vietnam are still attractive and even low following the recent sharp correction, said Dominic Scriven, chairman of Dragon Capital Group, the largest fund manager in Vietnam.
 
Dominic Scriven, chairman of Dragon Capital
Dominic Scriven, chairman of Dragon Capital
The price to earnings (PE) ratio of Vietnamese companies currently hovers around ten to 12 times while the earnings per share (EPS) growth is projected at 25%, meaning that Vietnamese equities are more attractive than their regional peers, Scriven spoke on behalf of the Capital Markets Working Group at the Vietnam Midterm Business Forum (VBF) 2018 in Hanoi on July 4.
He pointed out that Vietnam has not been immune from ongoing uncertainties in global markets caused by the strengthening of the US dollar and trade tensions between the US and its major trading partners including the EU and China. In addition, higher inflation and a weaker dong have also unnerved investors.
The benchmark VN Index of the Ho Chi Minh City Stock Exchange has lost 7% so far this year from end-2017 and plunged more than 20% from an all-time peak reached in early April.
Despite all these facts, foreign players have net bought US$1.5 billion worth of Vietnamese securities year to date, indicating that Vietnam is still their favored place to put money in, Scriven added.
To help boost the local stock market, Scriven recommended the Vietnamese government quickly announced the Amended Law on Securities, build up an ecosystem of domestic institutional investors, introduce more financial products and hasten state-owned enterprises to list shares after their initial offerings.
In addition, the veteran fund manager suggested establishing Vietnam’s own credit rating agency that can help firms issue corporate bonds to the public or in private placement.
Comments
Other news
15:51, 2025/02/24
Vietnam set to have digital banks within financial centers
Credit institutions headquartered in these financial centers will not be bound by restrictions on to foreign ownership or foreign investment conditions when providing services there or across borders.
14:30, 2025/02/15
Hanoi expands cashless parking pilot program
Hanoi is advancing its efforts to integrate technology into urban management by expanding the pilot program for cashless parking payments throughout the city.
16:58, 2025/02/11
Prime Minister urges banks to prioritize economic support over profits
One of the key priorities for the banking sector is to support small and medium-sized enterprises (SMEs), as they generate a large number of jobs and contribute significantly to the economy.
17:23, 2025/02/07
Vietnamese Gov’t forecasts CPI growth of up to 4.5% in 2025
With the goal of at least 8% GDP growth, the money supply in the economy will be significantly larger than in 2024. This will have an impact on price indices, particularly consumer prices.
17:51, 2025/01/07
Vietnam prioritizes agriculture and renewable energy for access to green loans
The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.
16:49, 2025/01/06
Vietnam GDP expands by 7.09% in 2024
The 2024 growth rate is considered positive amidst global uncertainties and domestic challenges such as natural disasters.