Bank Bonds at 10%, Bông Sen at 10.5%: Two Outcomes
At nearly the same coupon rate around 10% a year, a Sacombank bond just started trading while a Bông Sen bond is still sitting on VND 3,009 billion in unpaid interest. The headline rate is not the risk signal investors think it is.
PVFCCo hits 192% of plan: real growth is 116%
PVFCCo (DPM) says it has hit 192% of its full-year profit plan in just six months, but that plan was set 37% below the prior year's result when shareholders approved it. Real growth is 116.1%, driven by a urea price cycle the company doesn't control.
Vietnam PMI Hits 53.3, But Export Orders Reverse
Vietnam's manufacturing PMI climbed to 53.3 in August, the strongest improvement since February. But new export orders and employment both turned negative, with domestic demand and factory efficiency picking up the slack.
Same $230M Gap, Broadcom Falls While Snowflake Soars
Broadcom posted a record quarter but fell 5% after hours, while much smaller Snowflake jumped more than 22%. Both moves trace back to the same $230 million guidance gap, just in opposite directions.
Crypto Exchanges: Capital Was Never the Bottleneck
CAEX raised its full VND 10 trillion in April, yet by early September no Vietnamese crypto exchange has been licensed. The real bottleneck is IT security certification and operating procedures, not registered capital.
Condotel Gridlock: The Math Was Broken, Not the Law
Nearly 150,000 resort real estate units are stuck in legal limbo across Vietnam, even though the legal framework was opened back in May 2026. The real problem was never the title deed. It was a profit-commitment formula that never added up from the day contracts were signed.
Samsung isn't borrowing a dollar for its $4.08B chip plant
An environmental permit filing from Samsung Vietnam Semiconductor reveals a 1,612-machine equipment list and the capital structure behind its $4.08 billion memory chip plant in Thái Nguyên: over 60% comes from profit that hasn't been earned yet, and none from bank loans.
Vietnam Stocks Reopen Sep 3: What's Priced In, What Isn't
Brent crude jumped 9.52% over a three-session holiday window as US-Iran tensions flared around the Strait of Hormuz, while Vietnam's market stayed frozen at its August 28 close. The big picture for the September 3 reopen comes down to separating what the market has already priced in from what it hasn't.
PVOIL Books VND 60.3 Trillion Overseas, Then a Loss Quarter
PVOIL's international revenue hit VND 60,329 billion in H1 2026, dwarfing Viettel Global and Vingroup. Yet the same period included the company's first quarterly loss in almost four years.
World Gold Drops 7%, Vietnam's SJC Price Barely Moves
World gold shed 6.99% in a single week, hitting its lowest level since mid-August. Vietnam's SJC gold bar price fell just 1.26%, widening the gap between the two price boards by roughly VND 12 million per tael.
Rate-cut Directive: 3 Weeks On, Deposit Rates Still Frozen
Vietnam's PM ordered lower lending rates in mid-August, and major banks rolled out discount packages fast. But deposit rates barely moved, because a funding math problem no directive can erase.
HGI shares: two prices, a 25% gap
The same HGI share carries two different price tags this week: VND 45,652 that HAGL actually sold at, and VND 60,600 now being offered to the public. Where does the 25% gap come from, and how should investors read it before the September 7 deadline?