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03-05-2010 10:52 AM #1
Senior Member- Ngày tham gia
- Jan 2010
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Foreign investors bullish on markets
Foreign investors were net buyers on the country's two stock exchanges in April, showing their rising confidence in Viet Nam's economy and investment opportunities in its stock market.
Dang Pham Minh Loan, Director for investment of fund management company VinaCapital, pointed to the fact that the country's economic outlook is showing clearer signs with inflation and interest rates cooling, attracting foreign investors.
Louis Nguyen, Chairman and CEO of the Saigon Asset Management Company (SAM), said: "we are about to see a big increase in the market by the year end."
"Based on recent annual shareholders' meetings which we attended, many companies appear to be performing better than forecast, and outstanding in some cases."
One of SAM's funds, the Vietnam Property Holding, has bought stakes in several listed property firms, including the NBB Investment Corporation (NBB) and Construction and Materials Trading Joint Stock Company (CNT).
Viet Nam, with a young population, increasing buying power and a number of emerging industries, offers opportunities at low valuations, according to experts.
Chris Freund, managing director of Mekong Capital - whose funds target private equity - said the long-term picture for the Vietnamese economy, especially the stock market, remained very positive.
"Well-managed companies will find ways to be successful in any environment. Mekong will continue to invest in and empower such companies to consistently create value.
"When we make an investment, we typically have a five-year time horizon and we focus on factors that we can influence, such as empowering our companies to build their management team in ways that will lead to faster net profit growth. But we observe that companies are performing very strongly so far in 2010.
"We recently received the March performance data from all our companies and many have been growing faster than they planned - and I believe this is probably true throughout the economy. On average, we expect our companies to achieve net profit growth of around 50 per cent in 2010."
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