Transcript Monthly Report Oct. 2010

Monthly Report April 2012
Accounting, Finance, Investment
Contents
Activities
Market Watch
Investment / Financial Results
Plans
2
Activities
Investment
Cash Flow Management
Moving money to the highest return asset
Taiwan Business Trip Report
Prepare procedures how to analysis stock,
Risk management assessment,
Real estate investment
Equities
Suggest some stocks for initial analysis
Forecast Model
Update Macro Indicators to Forecast Model
3
Activities
Accounting and Finance
The Final 2011 Financial Statement:
Had been issued to related parties, internal
and external.
2011 Tax Finalization
Complete both CIT and PIT
The Q1 Financial Statement
Finished and conducted by E&Y.
4
Contents
Activities
Market Watch
Investment / Financial Results
Plans
5
Market Watch
NY S&P 500
MTD: -3.5%; YTD: 7.1%
Frankfurt DAX
MTD: -5.4%; YTD: 8.2%
Hot Issues:
1. US labor market slowly recovery
2. Euro zone is still worry about debt crisis
3. China GDP growth slows due to export
declining
4. Vietnam stock market BOOM thanks to
inflation cool down and the declining of
Market Watch
interest rate
Financial Market
April/2012
Note : As of Apr 24th.
Shanghai SHX
MTD: -3.5%; YTD: 6%
Taipei TWSE
MTD: -4.6%; YTD:7.9%
VN Index
MTD: 4.5%; YTD: 33%
Market Watch
Global Prominent Assets
USD/EUR
Gold Spot (USD/oz)
Down 1.7% YTD
UP 4.5% YTD
Crude Oil (USD/barrel)
MSCI World Index
Up 3.4% YTD
UP 6.9% YTD
7
Market Watch
Vietnam Economy
Vietnam % GDP growth vs CPI yoy
%



%
%
Vietnam CPI yoy vs Policy rates
GDP QI/12 was 4%, lowest since QI/09, as the Gov.
wanted to control inflation
Inflation already be controlled now (Apr CPI ~ 0.05%),
Government will boost GDP growth rate
Government will continue to decrease interest rate
8
Market Watch
Exchange Rate
USD/VND
VND has strengthened
thanks to:
 Trade surplus
 Wide gap between
USD and VND
deposit rate
 Restriction on gold
trading
source: Bloomberg

VND will continue to strengthen thanks to the
plentiful of USD reserve from SBV
9
Contents
Activities
Market Watch
Investment / Financial Results
Plans
10
Investment Result
Asset Allocation & Revenue
Investment Portfolio: VND962 billion, -2.1%YTD
Gov. Bond
(64.9%)
USD TD
(6.9%)
VND TD
(27.5%)
Cash
(0.5%)
Note: As of Jun. 25th.


Gov. Bonds:
Ave. yield 15%; Duration 5y
USD TD:
Ave. rate 1.5%; Tenor: 0.1y
VND TD:
Ave. rate 13.4%; Tenor: 5.3y
Cash/DD:
Ave. rate 2.5%, ave. amt 1.5 billion
Most of our investment income comes from the long
term Government Bonds.
Weighted average yield is around 13.7%. We achieve
11 billion VND Investment Income every month.
11
Financial Result
Profit and Loss
Billion VND
Jan.
Feb.
Mar.
YTD
Revenues
17.7
16.1
25.3
59.1
Expenses
20.4
17.5
26.8
64.8
Profit/(Loss)
(2.8)
(1.4)
(1.5)
(5.7)
Budget
Budget 2011
2011
(7.0)
(3.9)
(5.2)
(16.1)
35%
29%
35%
Actual/budget
Actual/budget

39%
Loss was narrowed month by month thanks to well
controlled of sell expenses:
12
Premiums vs Sales exp. (VND bn)
30
25
20
Gross Premium
Sale expense
48% budget
46% budget
15
13.9
10
6.5
4.3
5
5.7
5.3
4.1
0
Jan
Feb
Premium
Mar
Sale expense
 Sales Exp. and Premiums was down together
 However, Premiums seems to let Sales Exp behind
since Mar
13
Contents
Activities
Market Watch
Investment / Financial Results
Plans
14
Plans
Accounting
2011 Budget Performance
Seek the approval from BOD
Business trip reimbursement
Work closely with HR to launch the on-line
business trip reimbursement
System improvement:
Start testing on the automatic allocation of
the Pre-payment.
15
Plans
Investment
Enhance Investment Yield
Moving money to the highest return assets
Maintaining the cash balance at the lowest level
Equity Analysis
Prepare analysis report for some potential stocks
Macro Forecast Model
Update April Figures
16
Thank You