Company Report

After two years of construction, the project Dung Quat - Hoa Phat has almost finished the workload of the phase 1 and 80% of the phase 2.

Accumulated profit after tax in the first 11 months of 2019 (11M19) reached 99% of full-year targets

Full-year targets reached a month early

PVPower’s (POW:HOSE) November electricity output reached 2,014 million kWh or 103% of the monthly target and pushed total output for 11 months to 20,642 million or 96% of the full-year target

Construction steel consumption reached 1-month highs

Azeri oil & MFO start up (BSR) - Improving business performance expected for 2020

VHC remains on track to meet its earnings guidance for 2019 as input prices for materials are expected to remain low for the last months of the year.

Leading real estate developer in Vietnam

SCS is currently the 2nd largest cargo terminal operator in Tan Son Nhat International Airport. In 6M/2019, revenue hit VND361.8 billion, gaining 15.1% yoy; NPAT hit VND239.8 billion, rising 20.9% yoy. The growth force comes from the investment in cargo terminal Phase 2, raising capacity to 350,000 tons/year. SCS has had a high dividend payout ratio Risks

Hoa Phat is a construction steel and steel pipe manufacturer with the largest market share in Vietnam. When the Dung Quat Hoa Phat Project is completed, Hoa Phat’s steel production will be tripled Large production scale and BOF technology help HPG save production costs Investment risks