RCS - VietNam Holding Ltd - Update from QuotedData

VietNam HoldingAnnouncement

22/06/2023 10:00

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RNS Number : 5953D  VietNam Holding Limited  22 June 2023

Vietnam Holding Limited - Update from QuotedData

22(nd) June 2023

Building on firmer foundations

Vietnam Holding (VNH) has put in a compelling performance in net asset value
(NAV) total return terms versus competing funds investing in emerging Asia
(see page 24), but this is not being reflected in its share price. Presently,
its share price is at a 13.5% discount to its NAV.

This is despite Vietnam's long-term structural growth drivers remaining intact
(see page 7) and a strong outlook for GDP growth over the next five years (the
forecast is for an average of 6.7% a year through to 2028).

Within Vietnam, there was a meltdown in the corporate bond market last year,
which affected its property sector and, while the Vietnamese government moved
to address these issues and stabilised the currency, poor sentiment continues
to weigh on the market, which does not seem justified.

VNH's board has been authorising modest share repurchases to provide liquidity
to shareholders, taking advantage of the recent high-teens discount (see page
29).

Full Research:

https://quoteddata.com/research/vietnam-holding-limited-building-foundations-qd/
(https://quoteddata.com/research/vietnam-holding-limited-building-foundations-qd/)

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