paulgrip
- 01 Mar 2005 10:27
Vietnam Oppurtunity fund...trading on AIM in US Dollars. From Annual report in Dec 2004
"The economy has continued its impressive run of stable high growth, second only to that of China. This growth is now supported by three legs - most importantly the domestic private sector, but now also increasingly exports and FDI. The domestic private sector expanded 21.8 percent for the first half of 2004, exports grew by 16.9 percent and FDI grew 11.4 percent and is now higher than China as a percentage of GDP. It is encouraging that Vietnam is starting to be seen as a serious investment destination.
Government reforms have continued their slow but steady trajectory, most notably in pushing forward with the privatization effort. The privatization of Vinamilk and Bao Minh insurance heralded the beginning of the final phase of
privatization, with the largest companies in the key sectors being sold down.
In terms of investment opportunities the Company has not been opportunity
constrained. It is encouraging to see Vietnamese companies performing well while valuations are among the lowest in the region and dividend yields among the highest. In fact, the average ROEs of Vietnam's listed companies are almost four times those of average Chinese listed companies. Furthermore, the fledgling real estate market is showing signs of growth as mortgages allow the average citizen to now more easily buy their own homes"
IMHO Vietnam is one of the last South East Asian Tigers that has yet to roar! And when it does it could be huge. Obviously this is a long term investment and not for the risk-averse...but wouldnt it have been nice to get into China when it was just beginning to stir? Well in my opinion this is now possible with Vietnam, and VOF is a great way of having direct access to this very interesting and expanding market! DYOR
Any thoughts/opinions?
paulgrip
- 21 Jun 2005 10:54
- 21 of 39
Petravla...they are quiet a few oil exploration sites along the eastern coast of vietnam, with some successes already, and rumours of more big finds to come! And for an energy hungry country this will come in very handy for the future.
paulgrip
- 25 Jun 2005 15:51
- 22 of 39
Bush Vows Increased Ties With Vietnam
Protests Mark Leader's Visit to White House
By Jim VandeHei
Washington Post Staff Writer
Wednesday, June 22, 2005; Page A01
Thirty years after the end of a war that divided the United States and ravaged his own country, Vietnamese Prime Minister Phan Van Khai yesterday became the first leader of his nation to visit the White House and won promises from President Bush to bolster economic and military ties between the former enemies.
With hundreds of Vietnam War veterans and pro-democracy protesters rallying outside the White House gates, Bush announced plans to visit Vietnam next year and support Vietnam's admission to the World Trade Organization, a big victory for Khai.
"This event, in itself, shows that Vietnam-U.S. relations have in fact entered a new stage of development," said Khai, the highest-ranking Vietnamese official to visit the White House since the Communists won the war in 1975. "I'm fully confident that my visit to America this time will help uplift the relationship between our two countries to a new height."
Disagreements remain. In a private meeting, Bush pushed Khai to do more to promote human rights and religious freedom in a country accused of stifling dissenting voices and people of faith, White House spokesman Scott McClellan said. At a joint appearance with Bush, Khai attributed the differences to "the different conditions that we have, the different histories and cultures."
The protesters offered a much harsher assessment of Khai's Vietnam, waving signs saying, "Stop Religious Repression." In a full-page ad that ran in yesterday's Washington Post, a group called a Call for Democracy accused the ruling government of adhering to an "obsolescent Communist ideology" that smothers freedom.
Bush, in brief remarks to reporters, said the two leaders signed a "landmark agreement that will make it easier for people to worship freely in Vietnam." The president, whose stateside service in the National Guard during the Vietnam War was an issue in the 2004 election, praised Khai for his government's effort to help find the remains of more than 520 U.S. soldiers who were killed in Vietnam and never found.
"It's very comforting to many families here in America to understand that the government is providing information to help close a sad chapter in their lives," Bush said. Since 1988, Vietnam has helped identify the remains of about 500 U.S. service members missing since the war. More than 58,000 Americans died in Vietnam.
The bitter passions once stoked by Vietnam have faded, as presidents and members of Congress have embraced trade and closer military relations. In a morning appearance on NBC's "Today" show, Sen. John McCain (R-Ariz.), a prisoner of war for nearly six years, struck an ambivalent note -- praising Vietnam's economic progress but remaining skeptical about Vietnam's treatment of its own people. "They have taken steps," he said, but "we expect progress toward democratic freedom, human rights, elections and all the trappings of democracy."
Rep. Christopher H. Smith (R-N.J.) told the Associated Press he also has doubts. He called Khai a "master of deception" and said he would hold hearings to determine whether the agreement on religious freedom was being implemented.
Khai, whose tour of the United States took him from Microsoft Corp. Chairman Bill Gates's office in Redmond, Wash., to the White House and later the Pentagon for talks with Defense Secretary Donald H. Rumsfeld, was on a mission to promote Vietnam's fast-growing economy and desire to forge closer ties with the United States. "We have a population of 80 million people, which means a huge market for American businesses," Khai said.
A decade after diplomatic ties were restored by President Bill Clinton, U.S.-Vietnam trade is booming to the tune of $6.4 billion in 2004. Vietnam is striving to join the WTO at the next ministerial meeting, in December in Hong Kong.
Bush said he will visit Vietnam in 2006 when it hosts the Asia-Pacific Economic Cooperation forum's annual summit, where world trade will be high on the agenda. In a nod to Bush, Khai signaled in advance of yesterday's meeting plans to provide more intelligence on possible terrorists and send military officers to the United States for training. In an interview with The Washington Post last week, Khai, 71, said intelligence-sharing efforts would include the creation of new positions at the U.S. Embassy in Hanoi and the Vietnamese Embassy in Washington.
Vietnam was on Bush's agenda at a time when some voices in both parties are warning that the lessons of the war there remain relevant elsewhere -- in Iraq. McCain and others have said one lesson of Vietnam is to never lose the support of the public by making the situation sound better than it is during armed conflict.
paulgrip
- 26 Jun 2005 18:33
- 23 of 39
Great article in The Business newspaper on Sunday about the Vietnamese Pemiers, Phan Van Khai, visit to America. Here are a few quotes from the article..."Michael Marine, the American ambassador to Vietnam, sung the former enemy's praises in a recent speech saying "Vietnam represents arguably the most dynamic market in South-east Asia today, second only to China in all of Asia in terms of economic growth rates over the past ten years"...
"While in Washington State, Phan also stopped at BEoing's plant outside Seattle. Back on the East coast he visited Harvard and MIT universities and he took part in an American ritual that would have Ho Spining in his grave; he rang the opening bell at the New York Stock Echange on Wall Street."
It is quiet amazing that thirty years after the end of the Vietnam war, and 3 million Vietnamese lives later, the Premier is so openly embracing Capitalism...Vietnam and the Vietnam Oppurtunity Fund, offer great growth prospects for the future...IMO
Arf Dysg
- 03 Feb 2006 18:28
- 24 of 39
Interesting. VOF is doing very well at the moment.
transco
- 19 Jan 2007 11:10
- 25 of 39
VOF doing amazing things now the share price has skyrocketed since christmas.
Lots of press suggesting emerging markets are the place to put your money but vietnam is not without risk.
Still an interesting put if you feel lucky.
groover22
- 19 Jan 2007 15:12
- 26 of 39
Fair point, I think 8.5 growth pa is gd and the economy should do better, working with investors in Asia, I know this country has a lot of scope for growth. Management is quite good, check out thier mgmt and also investments if anyone is really interested.
NAV update should be interesting but those who got in early in Vietnam are laughing
transco
- 23 Jan 2007 15:18
- 27 of 39
well it looks like the wheels came off today.
Just shows how one can get ones fingeres burnt.
I have just come back from a holiday in Vietnam and the tourist industry is just strarting to motor. Long way to go on though!!!
grooverjr22
- 24 Jan 2007 10:30
- 28 of 39
Hope you had a good holiday. Its a cheap entry level to expose yourself to Vietnam and managment has been around and their investments appear well thought out, they don't overpay for assets, so you never know, if you take a 3-6month view, may double, I hope!
FONTY
- 24 Jan 2007 17:43
- 29 of 39
I was in Vietnam 2 years ago and it is like a bubble waiting to burst. I have been watching Vinaland VNL steadily go up and am delighted to have found your thread. Let's see where it settles and then I am going to buy some.
grooverjr22
- 25 Jan 2007 10:15
- 30 of 39
Investor sentiment seemed to have turned against them and the placing by VNL at a discount probably hasn't helped either.
Early knocks are good to weed out the bad seeds and let us see what the management does.
I have worked with companies and a lot of Asia Pacific companies are investing there, sell if you are uncomfortable, hold if you are.
grooverjr22
- 26 Jan 2007 08:33
- 31 of 39
Hi Fonty, just read about HSBC investing in Vietnam and asking for banks to ease foreign ownership in banks, does this augur well for Vietnam companies in general. Need to look at what valuations HSBC useed in buying up a stake in a bank there. I have shares which is obvious but the reason I bought was after I looked at their portfolio companies on their website. I am not a guru like some of you gentleman and ladies on this site but some of their investee companies seem sound
transco
- 29 Sep 2007 08:59
- 32 of 39
groov,
Looks like you were right man its on its way back big time.
Maybe the vIETNAM GOV is finally going to sell some cheap assets off?
Transco
grooverjr22
- 10 Oct 2007 02:41
- 33 of 39
Its a patience game at times transco. The government is taking positive steps to encourage investors and the recent placing seems to suggest that they have identified further investments worth acquiring and I will support the placing. There are a lot of Asian investors pouring their money and expertise into this 80million strong population and its a growth story. For my part, I was looking at VOF's investments and it shows managment is astute but please dyor. Sadly like most of my investments, never a a 6 bagger but a gradual slow steady riser!
transco
- 24 Oct 2007 14:00
- 34 of 39
Groov am I correct in thinking the rights issue appears to have no impact on the SP?
I thinks its XRights now in the 1 for 4 offer but the price has not really dropped as you would expect. is this a bullish sign do your think?
grooverjr22
- 05 Nov 2007 02:41
- 35 of 39
Possibly transco.
It already priced in a discount and at the time of announcement, price was hovering above 4. I took up my rights and hopefully, it will come good in due course, we hope.
There was also an interesting article in moneyweek and one of the researchers actually recommended VOF!
Here is the link http://www.moneyweek.com/file/37011/vietnam-is-truly-exciting--but-dont-jump-in-yet.html
hlyeo98
- 29 Jun 2008 14:45
- 36 of 39
Vietnam lurched closer to a currency crisis as the Government cut the official exchange rate to a record low. UBS analysts said that the countrys economic profile was more extreme than that of Thailand on the eve of the 1997 Asian financial crisis.
hlyeo98
- 29 Jun 2008 14:47
- 37 of 39
transco15
- 14 Jan 2013 09:51
- 38 of 39
a slow safe burner ready to ingnite !! imho
transco15
- 17 Jan 2013 14:34
- 39 of 39
off she goes on banking potential the new growth interest.