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April 4th, 2012

The Vietnam Daily


Markets at a Glance 1 day chg (%) Close Volume (share) Value (USDmn) Gainers Losers Unchanged HoSE -1.35% 439.77 50,711,580 31.37 66 191 53 HNX -1.66% 73.25 79,212,098 31.52 56 221 119

HO CHI MINH CITY SECURITIES CORPORATION

MARKET COMMENTARY
The markets fell back today as yesterdays move to the upside failed to draw out follow-up buying today. Volumes failed to improve while market breadth narrowed. Foreigners were again inactive although still net buyers. Mixed views on the direction of April CPI coupled with a slowdown in active foreign interest seems to be reinforcing a more cautious stance amongst domestic investors at the moment. Blue chips were weaker across the board with VIC; BVH and MSN leading the way down. The media today is carrying several articles on the proposed Saigon Hanoi Bank (SHB) - Habubank (HBB) merger which SHBs CEO has said has been agreed in principal by the SBV. According to the media, SBV has issued an in-principle agreement for HBB to merger with SHB (HBB name would disappear). However this is just a document expressing SBVs initial opinion and does not represent an official approval. SBV would require both sides to carry out the necessary procedures in line with Circular No. 04/2010/TT-NHNN issued on 11/2/2010 regulating merger and acquisition. Still the likelihood now is the deal will go ahead looks high. Effectively SHB will take over HBB most likely through a share swap. One article suggests a swap ratio of 1 SHB shares for every 1.34 HBB shares but the official swap ratio would have to wait auditors assessments of both balance sheets plus central bank approval. At end-2011, the combined assets of SHB & HBB came to VND112.8 trillion. Seems Ernst & Young has been hired as auditor to check all the numbers. Both sides have apparently signed an MOU which states that Habubank will hold a shareholder meeting for the merger no later than 15/4/2012 while SHB will also hold a similar meeting no later than 30/4/2012. The MOU also apparently gives SHB some safeguards preventing HBB from making any new loans; making any investments; changing employee compensation; offering guarantees or selling assets without approval from SHB. Seems Ernst & Young has been hired as auditor. The next big step is whether or not the SBV gives official approval but once given the deal may go ahead fairly quickly thereafter. Our banking team recently attended the VCB AGM and here are their notes. The most important development perhaps was that the proposal by VCB to list all its shares has been approved by the government and SBV as we expected. Up to now, only the non-state owned shares of VCB have been registered and listed on HOSE. Currently VCB has 2,317,417,076 shares outstanding of which 1,787,023,116 shares are state owned, accounted for 77.11% of the total. So at todays share price of VND28,900 this would increase the market capitalisation to VND66,973,353,496,400 (US$3.19 billion). Once the paperwork is done we expect the additional shares will be listed in about 30 - 60 days or so. Of course this wont affect the free float of the stock at all. Then VCB expects FY2012 profit before tax will come to VND6,550 billion (+15% y/y). VCB assumes their loan book will grow by 17% this year based on deposit growth of 18%. The bank hopes to expand their network to 461 branches and sub-branches (+21% y/y). They also target CAR of 12% (compared to 11.2% in FY2011) which tells us they intend to raise more capital and forecast NPLs of 2.8% or less (actual NPLs in FY2011 came to 2.03%). The bank stated they will issue US$1 billion international bonds tentatively in FY2012 or an appropriate time, with maximum tenor of 10 years. Similarly to CTG before it the bank is looking overseas to tap new capital. Given its size this issuance could be used to boost Tier 2 capital. Given that so far amongst listed Vietnamese companies only VIC has successfully raised US$ debt overseas the likely yield is hard to gauge. Then we understand that CTG is struggling to get interest for its own bond offering. That said we feel VCB is a better quality name although country risk and perception are issues that will have to be overcome. While the drop in the Vietnams five year credit default swap contract by 124 bps to 285 YTD may also be supportive from a timing point of view. The current sovereign bond issuances have a current market yield between 4.37-5.36% and 4-8 years to maturity. HSC roughly estimates that VCB might need to offer up to a 7-9% yield. The AGM also approved the proposal to establish three new subsidiaries: VCB Asset Management Company, VCB Remittance Company, and VCB Consumer Finance Company. The bank hopes to manage their loans and collaterals more efficiently, standardize international remittance operations and gain more market share in retail banking. In FY2012, HSC forecasts VCB will expand their loan book and interest earnings asset by 17% y/y and NIMs will increase further to 4.1% in FY2012 from 4.0% in FY2011. We assume operating income (mainly driven by net interest income) will grow by 23.5% to VND18,366 billion. Then on the cost side, we expect cost base will expand 23% y/y for the whole year leading to a virtually unchanged cost to income ratio of 38%. As for provision expenses, we expect total provision costs will increase by 25% y/y to VND4,222 billion in FY2012 compared to FY2011. Based on these assumptions, we forecast the bank will have a pretax profit of VND7,110 billion (+25% y/y) for FY2012.
Content Todays Markets Market Activity Todays OTC Prices Markets at a Glance Todays News

Foreign Activity Foreign Buy (USDmn) Foreign Sell (USDmn) Foreign Net (USDmn) Foreign Turnover (%) 4.87 2.41 2.46 11.58%

Industry Movers (composite) Basic Materials Consumer Goods Consumer Services Financials Health Care Industrials Oil & Gas Technology Telecommunications Utilities

1D chg -1.09% -0.36% -1.26% -1.81% -1.09% -1.29% -0.20% +1.93% +0.00% -1.13%

Weight 5.23% 18.48% 1.20% 57.22% 1.54% 9.69% 1.71% 0.35% 2.41% 2.18%

Fiachra Mac Cana

Head of Research

+848 3823 3299 fiachra.maccana@hsc.com.vn Head Office Level 5 & 6, AB Tower 76 Le Lai St., District 1, HCMC T: (+84 8) 3 823 3299 F: (+84 8) 3 823 3301 Hanoi Office 6 Le Thanh Tong St., Hoan Kiem District, Hanoi T: (+84 4) 3 9334693 F: (+84 8) 3 9334822 http://www.hsc.com.vn HCMS <GO> Please read the important disclaimer at the end of the document. Page 1

Fiachra Mac Cana


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April 4th, 2012

The Vietnam Daily

HO CHI MINH CITY SECURITIES CORPORATION

HoSE - Intraday Movement


448 446

TOdAYs HCMC MARKET


HCMC The VN index fell back today while turnover dropped also to VND652.53 billion or US$31.37 million. The index lost 1.35% and closed at 439.77. 66 shares were up while 191 shares fell. Then 11 shares went to the ceiling while 55 shares dropped to the floor. Foreigners accounted for 11.72% of the buying value and 6.98% of the selling value. The market opened almost flat and fluctuated around yesterdays closing level initially before falling back in later trading during the morning session. The afternoon session saw a further several point drop to hit a daily low of 439.27 before a brief rebound and then another drop at the close which brought us back almost to the lows. Todays trading range was wider at just under 8 points. In terms of the VN index PVF; REE; BCI and ELC made the biggest positive contribution. And VIC; BVH; MSN and MBB made the biggest negative contribution. Major sectors were all lower today. Foreign buying slipped a tad in actual terms but rose in percentage terms. Foreign selling more than halved in actual terms and fell also in percentage terms. Foreigners were net buyers to the tune of VND30.94 billion worth of shares in HCMC. And we saw twenty transactions in the put through market today. Foreigners were active buyers of STB; DPM; IJC; HPG and HAG. They also actively sold VIC; HAG; KDC; DPM and IJC. The put through market was very inactive today with just some medium sized & smaller deals accounting for 5.62% of total turnover. We saw 258,000 shares of FDC; 365,500 shares of CTI; 100,000 shares of KDC; 157,000 shares of AGF; 90,000 shares of HHS, 100,000 shares of DPM; 150,000 shares of OGC; 59,000 shares of SRF and 80,000 shares of EIB going through. Foreigners were active in the KDC deal and one other smaller transaction in the put through session in the market. As for the five traded funds, VFMVFA rose 5% closing at VND6,300; VFMVF4 ended the day down 3.92% at VND4,900; VFMVF1 closed flat at VND8,600; PRUBF1 rose 1.79% at VND5,700 and finally MAFPF1 closed down 4.88% at VND3,900.

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HoSe Bid/Offer Spread (%)

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April 4th, 2012

The Vietnam Daily

HO CHI MINH CITY SECURITIES CORPORATION

HNX - Intraday Movement


76 75

TOdAYs HANOI MARKET


Hanoi - The Hanoi market dropped back today although turnover rose to VND655.61 billion or US$31.52 million. The HN index slipped by 1.66% and ended the day at 73.25. 56 stocks rose while 221 stocks fell. And 5 stocks went to the ceiling while 71 stocks dropped to the floor. Foreigners accounted for 3.79% of the buying value and 0.70% of the selling value. In total foreigners were net buyers to the tune of VND20.65 billion worth of shares. And we saw thirty eight large, medium and small sized deals today in another inactive put through session in Hanoi accounting for 6.99% of total turnover. We saw 839,100 shares of GBS; 364,000 shares of CVN; 518,200 shares of VBC along with some smaller transactions in the put through market today.

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April 4th, 2012

The Vietnam Daily


MARkET ACTIVITY
HoSE
Top 5 Gainers Ticker bbC GTA VFMVFA TAC SSC Price 18.9 8.4 6.3 31.9 35.3 Chg 0.9 0.4 0.3 1.5 1.6 % Ticker 5.00 MDG* 5.00 CAD 5.00 bAS 4.93 HlG 4.75 PXM Top 5 losers Price 5.1 0.9 1.1 9.5 5.7 Chg -0.90 -0.10 -0.10 -0.50 -0.30 % -15.00 -10.00 -8.33 -5.00 -5.00 Ticker SHN NSN INC NIS VIT Top 5 Gainers Price 3.2 4.9 5.0 5.0 5.6 Chg 0.2 0.3 0.3 0.3 0.3

HO CHI MINH CITY SECURITIES CORPORATION

HNX
Top 5 losers % Ticker 6.67 SDH 6.52 CTV 6.38 TAS 6.38 bTH 5.66 lDP Price 6.7 5.4 5.4 6.8 26 Chg -0.50 -0.40 -0.40 -0.50 -1.90 % -6.94 -6.90 -6.90 -6.85 -6.81

* The ex-right date Top 5 Active (by Volume) Ticker SAM REE Mbb IJC SbS Volume 2,986,790 2,547,650 2,466,650 2,120,340 2,050,480

** New listed Top 5 Active (by Value) USDMln 1.8 1.8 1.4 1.2 1.1 % of Total 6.1 6.0 4.9 3.9 3.9

* The ex-right date Top 5 Active (by Volume) Ticker Hbb SHN VND PVX klS Volume 15,035,500 10,939,300 5,353,400 4,216,600 3,664,900

** New listed Top 5 Active (by Value) USDMln 5.2 2.9 2.2 2.1 1.6 % of Total 17.9 10.0 7.6 7.3 5.4

% of Total Ticker 6.1 REE 5.2 Mbb 5.0 SSI 4.3 PVF 4.2 IJC

% of Total Ticker 19.9 Hbb 14.5 VND 7.1 PVX 5.6 klS 4.9 PVS

* The ex-right date Top 5 Active by Foreigners (bUY) Ticker STb DPM IJC HPG HAG Value 9,533,770 7,213,348 6,758,700 6,690,364 6,015,320

** New listed Top 5 Active by Foreigners (SEll) Value 19,104,120 5,021,746 4,050,210 3,967,248 3,377,998 ** New listed % 81.86% 30.66% 53.05% 32.42% 14.19%

* The ex-right date

** New listed

Top 5 Active by Foreigners (bUY) Top 5 Active by Foreigners (SEll) Ticker PVS SHN klS HUT TH1 Value 18,650,120 960,200 931,600 853,300 729,250 % Ticker 57.05% PVS 2.96% SHb 2.13% AVS 16.58% PVI 99.68% PVA Value 2,636,800 545,000 303,490 218,310 158,400 ** New listed % 8.07% 2.64% 4.45% 29.08% 1.95%

% Ticker 76.25% VIC 58.96% HAG 28.39% kDC 75.72% DPM 36.73% IJC

* The ex-right date

* The ex-right date

FOREIGN NET bUY/SEll DAIlY (VNDbillion)


450 350 250 150 50 -50 -150 -250 -350 -450 -369.4 130.5 44.8 -3.1 -19.4 1.5 33.2 23.9 95.1 63.4 69.9 43.0 172.6 5.1 -7.3 202.5 93.2 -77.8 -48.3 3.3 3.8 14.1 97.4 75.4 93.4 94.5 91.7 89.1 5.5 21.0 12.7 461.5 414.7

39.1 6.7

35.3 21.8 47.5

30.9 20.3

12.2 -16.3 -23.9

-5.4

5.5

34.2

HoSE

Hastc

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April 4th, 2012

The Vietnam Daily


MARkET ACTIVITY
HoSE
block deals (put-through) Ticker FDC CTI KDC AGF HHS DPM OGC SRF EIB MBB VMD SJS PDR LIX HDG REE HAX CLG KHA DCT Total Volume (shares) 258,000 365,500 100,000 157,000 90,000 100,000 150,000 59,000 80,000 64,400 56,500 30,000 50,000 20,000 30,000 21,600 56,150 20,570 20,000 25,000 1,753,720 Value (VND1,000) Block deals (put-through) Ticker Volume (shares) 839,100 364,000 518,200 380,050 470,000 164,000 95,000 39,000 104,660 115,800 230,000 100,035 13,400 20,000 19,200 8,000 10,000 5,183 1,073 130 Value (VND1,000)

HO CHI MINH CITY SECURITIES CORPORATION

HNX
Block deals (put-through) Ticker Volume (shares) 92 80 40 99 66 107 50 40 50 19 50 10 17 50 40 20 15 22 3,497,698 Value (VND1,000) 1,316 728 692 663 554 503 440 412 325 315 275 241 201 200 192 186 69 62 45,807,265 6.99%

6,553,200 GBS 5,555,600 CVN 3,985,500 VBC 3,846,500 CTC 3,078,000 TAS 3,017,300 LCS 1,875,000 DLR 1,416,000 VTL 1,336,000 HBS 1,002,960 MAX 972,350 KTT 927,000 VSP 735,000 LAS 680,000 VND 450,000 PXA 324,000 CMS 280,750 SIC 275,638 PVX 194,000 ACB 135,000 KLS 36,639,798 5.62%

13,541,420 PVC 8,954,400 SCJ 8,135,740 PVI 2,774,365 TPP 2,538,000 SD2 2,164,800 HPC 1,852,500 VE9 1,478,100 TV4 1,203,590 HNM 1,030,620 PLC 874,000 DCS 370,130 SGC 339,020 VCG 209,000 TIG 94,080 SDD 80,800 ICG 72,000 BCC 60,426 GGG 25,445 Total

1,456 Total % of market value

Total % of market value

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April 4th, 2012

The Vietnam Daily


TODAYS OTC PRICES
Stock FINANCE - bANk - SECURITIES Kien Long Commercial JSC Bank East Asia Bank An Binh Bank Vietnam Technological and Commercial Joint Stock Bank Vietnam International Bank Orient Commercial Joint Stock Bank Southern Bank Lien Viet Post Bank HEAlTH - PHARMACY - HOSPITAlS Tam Duc Heart Hospital lIGHT INDUSTRY Viet Tien Garment Joint Stock Corporation FOOD - DRINk Masan Consumer SABECO Vinh Hao Mineral Water REAl ESTATE Hoang Anh Construction & Development house JSC TECHNOlOGY FPT Online Joint Stock Company TRANSPORTATION VietJet Aviation Joint Stock Company Au Lac JSC The OTC price list is used for reference purpose only Par value: VND10,000

HO CHI MINH CITY SECURITIES CORPORATION

Ticker

Trading price

KLB EAB ABB TCB VIB OCB PNB LVB

9,500 10,200 6,500 15,300 10,000 6,000 8,000 8,700

TDH

20,000

VTEC

17,300

MSF SABECO VHMW

150,000 36,000 24,000

HAL

37,000

FPTOL

68,000

VIETJET ALC

9,000 7,500

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April 4th, 2012

The Vietnam Daily


MARkETS AT A GlANCE
key indicators
HoSE HNX

HO CHI MINH CITY SECURITIES CORPORATION

Top 40 stocks by market capitalisation FY2011 365,922,150 42,931,486 3,505 FY2012 (HSC forecasts) 420,161,383 49,785,258 3,946 y/y 14.8% 16.0% 12.6%

# of stocks in index 302 395 Market Cap (USDmn) 27,746.18 4,917.12 Weighted estimated P/E 2011 9.0 5.1 Sales Weighted P/B FY2011 1.9 1.0 Net profit EPS *
* Weighted by market cap

Top 20 stocks by market capitalization


Ticker VCb MSN VNM VIC bVH CTG STb ACb EIb HAG FPT DPM Mbb SQC PVD PVF HPG SSI PVI kDC Price 28,900 114,000 93,000 93,000 72,000 22,200 23,000 24,800 17,400 27,700 58,000 29,900 14,900 84,000 39,500 12,600 23,000 19,100 18,200 40,000 Outstanding Shares 2,317,417,076 515,272,269 556,238,325 549,383,305 680,471,434 2,022,972,161 1,073,967,664 937,696,500 1,235,522,904 467,280,590 216,087,476 377,644,200 730,000,000 100,000,000 209,740,215 600,000,000 313,618,830 349,611,742 319,740,536 132,025,625 Market cap (bil VND) 66,973 58,741 51,730 51,093 48,994 44,910 24,701 23,255 21,498 12,944 12,533 11,292 10,877 8,400 8,285 7,560 7,213 6,678 5,819 5,281 Market cap (Mil USD) 3,220 2,824 2,487 2,456 2,355 2,159 1,188 1,118 1,034 622 603 543 523 404 398 363 347 321 280 254 EPS 2011 P/E 2011 P/b 2011 1,908 4,215 7,623 2,236 1,279 2,996 1,787 3,225 2,409 2,711 7,905 8,135 3,375 624 5,008 737 3,849 3,197 2,155 3,053 15.2 27.0 12.2 41.6 56.3 7.4 12.9 7.7 7.2 10.2 7.3 3.7 4.4 134.6 7.9 17.1 6.0 6.0 8.4 13.1 0.7 1.3 2,741 3,726 6.6 10.7 30.2 1.3 1.4 1.1 1.2 6,577 826 4,201 6.0 15.3 5.5 1.2 1.0 1.1 2.0 6.6 5.2 5.7 4.2 1.6 1.7 2.0 1.4 1.4 2.3 1.6 1.0 EPS 2012 P/E 2012 2,000 5,362 9,016 4,974 1,470 2,473 1,815 3,016 2,671 2,632 9,487 5,995 3,033 14.5 21.3 10.3 18.7 49.0 9.0 12.7 8.2 6.5 10.5 6.1 5.0 4.9 P/b 2012 1.5 5.3 4.2 5.2 4.0 1.4 1.5 1.9 1.2 1.3 1.9 1.3 0.9

We use an exchange rate of 20,800 for the US$/VND

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April 4th, 2012

The Vietnam Daily


TODAYS NEWS
HCM City Reports Slow Economic Growth in First Quarter Vietnams southern metropolis, Ho Chi Minh Citys economy expanded as slowly as 7.4% in the first quarter of this year, given the sluggish industrial production, the municipal Statistics Office said. The citys economic growth for the first quarter was much lower than an expansion of 10.3% in the same period last year, data from the office showed. The office also estimated that the citys service sector grew 8% in the period while the industrial sector posted a slower growth of 6.6%. The figures were 10% and 10.9% in the first quarter of 2011, respectively. HCM City posted a trade surplus of $58 million in the first quarter, compared to a trade deficit of $150 million in the same period last year. Its export value was $6.25 billion, up 8.7% on-year, and imports were $6.2 billion, up 7.5%. (Tien Phong Apr 3 p2) Vietnam NamAbank Targets 86.9% Profit Growth in 2012 Nam A Commercial Joint Stock Bank (NamABank) targets a pretax profit of VND600 billion this year, soaring 86.9% from last years estimate of VND321 billion. The unlisted lender expects its total assets to rise 47.08% in 2012 while its total deposits and outstanding loans are set to grow 20% and 14.98%, respectively, the bank said in a statement. The bad debt ratio will be curbed at below 2%, it said. In the fourth quarter of this year, NamABank plans to scale up its registered capital by 23.33% to VND3.7 trillion by selling shares to existing shareholders at 2.33-for-10 ratio. Of the proceeds, VND350 billion will be used to buy fixed assets, build facilities, and develop operation network while the back will use another VND280 trillion for trading and financial investments. (namabank.com.vn Mar 31) Vietnam licenses 67 Foreign Institutions to Trade Shares in Q1 The Vietnam Securities Depository (VSD) said on its website that it had issued licenses to 67 new foreign institutional investors to trade local shares during the first quarter of this year, raising the total number to 1,791 as at March 31. As many as 51 foreign individuals received trading permission in Jan-March, increasing the total number to 13,896, the state-run agency said in a statement posted on its website Wednesday. The number of licenses in March was 28 for institutions and 26 for individuals, higher than 22 each in February. Local brokerage companies said that foreign investors have come back to the Vietnamese stock market; and some new investment funds have started to inject money into local shares on hopes that the government is likely to succeed in curbing inflation to a single digit and recover its economic growth this year. (www.vsd.org.vn Apr 4) Three PetroVietnam Offshoots to Dominate PVN All Share Index PetroVietnam Fertilizer and Chemical Corp. (DPM), PetroVietnam Drilling and Well Services Corp., or PV Drilling (PVD), and PetroVietnam Finance Corp. (PVF) will have a dominant proportion in the basket of shares of the PVN All Share Index, set to be launched in May. PVN All Share Index will comprise 30 stocks in the oil and gas industry, with a current market capitalization of nearly VND51 trillion ($2.44 billion). As of March 26, DPM, PVD and PVF accounted for over 55% of the total value. This is a part of the PVNIndex, being built by PetroVietnam Securities Inc. (PSI) and FTSE Group using the Industry Classification Benchmark (ICB), to assess listed companies staked by Vietnam Oil and Gas Group (PetroVietnam). Expected to be launched this May, PVN-Index will comprise a group of representative indexes, a group of investment indexes, and a group of industry indexes. The group of representative indexes will consist of PVN All Share, PVN All Share Continuous, PVN All Share HSX and PVN All Share HNX. (dvt.vn Mar 27) Vietnam REE Corp. to Issue VND557.85b of Convertible bonds Refrigeration Electrical Engineering Corporation (REE), among the first blue-chips listed on the Hochiminh Stock Exchange, has approved a plan to issue VND557.85 billion ($26.56 million) worth of convertible bonds this year. The three-year bonds, with a par value of VND1 million each, will carry a fixed coupon rate of 6% per year, REE said in a statement on its website after its annual shareholders meeting. The notes will be offered to strategic partners in the second quarter of this year. The issuance will help the engineering company increase its registered capital to VND2.7 trillion. After the bond

HO CHI MINH CITY SECURITIES CORPORATION

conversion, REE will have a total listed volume of 270 million shares. (www.reecorp. com Apr 03) Vietnam bourse to Cancel listing of Seafood Firm bAS The Hochiminh Stock Exchange (HOSE), Vietnams main bourse, has announced that it will stop the listing of Basa JSC (BAS) from May 03. The exchange made the decision after the seafood firm incurred losses totaling VND40.12 billion ($1.91 million) in the past three consecutive years. As a result, the entire 9.6 million shares of BAS will have the last trading day on May 02. (hsx.vn Apr 03) Red River Holding buys 1M Shares of Steel Maker HSG Red River Holding bought one million shares Hoa Sen Group (HSG) between March 19 and March 30. As a result, the foreign fund raised its holding in the steel maker to 8.13% equal to 8.03 million shares from earlier 7.12%. Red River Holding plans to buy extra one million shares of HSG from April 6 to June 6, expecting to raise its holding to 9.14% equal to 9.03 million shares. (hsx.vn Apr 03) Vietnam Food Producer to buy 4.5M Shares of Parent Company kDC Binh Duong Kinh Do JSC plans to buy 4.5 million shares of Kinh Do Corporation (KDC), the formers parent company, between April 9 and June 9. As a result, the firm expects to hold 4.5 million shares, out of current 133.52 million outstanding shares of KDC. (hsx. vn Apr 03)

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April 4th, 2012

The Vietnam Daily


listed company in the HoSE
Number 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 Ticker AAM ABT ACC ACL AGD AGF AGR ALP ANV APC ASM ASP ATA AVF BAS BBC BCE BCI BGM BHS BIC BMC BMI BMP BRC BSI BT6 BTP BTT BVH C21 C47 CAD CCI CCL CDC CIG CII CLC CLG CLW CMG CMT CMV CMX CNG CNT COM CSG Company name Mekong Fisheries Joint Stock Company BenTre Aquaproduct Import & Export JSC Becamex Asphalt and Concrete Joint Stock Company Cuu Long An Hoang Fisheries Import and Export JSC Godaco Seafood Joint Stock Company An Giang Fisheries Import & Export JSC AgriBank Securities Joint Stock Coporation Alphanam JSC Nam Viet Corporation An Phu Irradiation Joint - Stock Company. Sao Mai Construction Corporation Anpha Petrol JSC NTACO Joint Stock Company Anvifish Joint Stock Company BASA JSC Bien Hoa Confectionery Corporation Binh Duong Construction and Civil Engineering Joint Stock Company Binh Chanh Construction Investment shareholding company Bac Giang Exploitable Mineral Joint Stock Company Bien Hoa Sugar JSC BIDV Insurance Corporation Binh Dinh Minerals JSC Bao Minh Insurance Corporation Binh Minh Plastics JSC BenThanh Rubber Joint Stock Company BIDV Securities Joint Stock Company Chau Thoi Concrete Corporation No.620 Ba Ria Thermal Power Joint Stock Company Ben Thanh Trading & Service Joint Stock Company Bao Viet Holdings Century 21 Joint Stock Company Construction Joint Stock Company 47 Cadovimex Seafood Import-Export And Processing JSC Cuchi Commercial And Industrial Developing Invesment JSC Cuu Long Petro Urban Development and Invesment Corporation Chuong Duong Corporation Coma18 Joint Stock Company Hochiminh City Infrastructure Investment JSC Cat Loi JSC Cotec Investment and Land-house Development Joint Stock Company Cho Lon Water Supply Joint Stock Company CMC Corporation Information and Networking Technology Joint Stock Company Camau Trading Joint Stock Company. Ca Mau Frozen Seafood Processing Import Export Corporation CNG Viet Nam Joint Stock Company Construction and Materials trading JSC Materials - Petroleum JSC Sai Gon Cable Corporation

HO CHI MINH CITY SECURITIES CORPORATION

Current Outstanding share 9,139,864 11,764,907 10,000,000 11,000,000 11,999,930 12,779,288 211,200,000 64,584,413 65,605,250 11,440,600 39,736,202 22,829,996 10,000,000 22,500,000 9,600,000 15,371,192 30,000,000 72,267,000 16,800,000 18,531,620 66,000,000 8,261,820 75,500,000 34,876,372 8,249,998 86,500,000 32,993,550 59,285,600 8,800,000 680,471,434 19,336,371 8,000,000 8,799,927 8,797,240 25,000,000 14,958,733 12,000,000 75,081,000 13,103,830 10,000,000 13,000,000 67,242,694 8,000,000 9,579,338 13,221,234 20,312,038 9,915,069 13,752,368 26,771,660

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50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 CSM CTD CTG CTI CYC D2D DAG DCL DCT DDM DHA DHC DHG DIC DIG DLG DMC DPM DPR DQC DRC DRH DSN DTA DTL DTT DVP DXG DXV EIB ELC EVE FBT FDC FDG FMC FPT GDT GIL GMC GMD GTA GTT HAG HAI HAP HAS HAX HBC HCM The Southern Rubber Industry JSC Cotec Construction Joint Stock Company Viet Nam Joint Stock Commercial Bank For Industry And Trade Cuongthuan Idico Development Chang Yih Ceramic JSC Industrial Urban Development JSC No.2 Dong A Plastic Group Joint Stock Company Cuu Long Pharmaceutical JSC Dongnai Roofsheet & Construction Material JSC Dong Do Marine JSC Hoa An JSC Dong Hai Joint Stock Company of Bentre Hau Giang Pharmaceutical JSC DIC Investment and Trading JSC Development Investment Construction JSC Duc Long Gia Lai Group Joint Stock Company. Domesco Medical Import & Export JSC PetroVietnam Fertilizer and Chemicals JSC Dong Phu Rubber JSC Dien Quang JSC Danang Rubber JSC Dream House Investment Corporation. Dam Sen Water Park Corporation De Tam Joint Stock Company. Dai Thien Loc Corporation. Do Thanh Technology Corporation Dinh Vu Port Investment & Development Joint Stock Company Dat Xanh real estate servise & contructions corporation. Da Nang Construction Buiding Materials and Cement JSC Vietnam Export Import Commercial Joint Stock Bank Electronics Communications Technology Investment Development Corp. Everpia VietNam Joint Stock Company Ben Tre Forestry Aquaroduct Import Export JSC Foreign trade development and investment Corporation of HCMC Dongthap Trading Corporation Sao Ta Seafood JSC The Corporation for Financing and Promoting Technology Duc Thanh Wood Processing Joint Stock Company Binh Thanh Import-Export, Production And Trade JSC Saigon Garment manufacturing JSC General Forwarding & Agency Corporation Thuan An Wood Processing JSC Thuan Thao Corporation HAGL JSC H.A.I Joint Stock Company Hapaco Joint-Stock Company Hanoi Post and telecomunication Construction & Installation JSC Hangxanh Motors Service JSC Hoa Binh Construction & Real Easte Corporaion HCM City Securities Cop

HO CHI MINH CITY SECURITIES CORPORATION

42,249,295 31,770,000 1,685,810,134 15,000,000 9,046,425 10,654,984 12,500,000 9,913,692 27,223,647 12,244,495 15,061,213 14,999,908 65,166,299 15,000,000 129,997,818 35,210,708 17,503,796 377,644,200 43,000,000 23,189,679 46,153,865 16,036,368 8,450,000 10,000,000 45,269,630 8,151,820 20,000,000 16,000,000 9,900,000 1,056,006,875 29,300,000 23,401,986 11,265,000 20,227,308 13,200,000 7,222,630 216,087,476 10,372,365 11,524,588 8,819,311 100,000,000 9,830,000 43,503,000 467,280,590 17,399,991 24,280,759 7,800,000 11,116,169 19,288,166 99,619,921

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100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 HDC HDG HHS HLA HLG HMC HOT HPG HQC HRC HSG HSI HT1 HTI HTL HTV HU1 HU3 HVG HVX ICF IDI IFS IJC IMP ITA ITC ITD JVC KAC KBC KDC KDH KHA KHP KMR KSA KSB KSH KSS KTB L10 LAF LBM LCG LCM LGC LGL LHG LIX Ba Ria - Vung Tau House Development JSC Ha Do Joint Stock Company Hoang Huy Investment Services Joint Stock Company Asia Huu Lien JSC Hoang Long Group JSC Hochiminh City Metal Corporation Hoi An Tourist Holding Company Hoa Phat Group JSC Hoang Quan Consulting Trading Service Real Estate Corporation HoaBinh Rubber JSC Hoa sen Group General Materials Biochemistry Fertilizer JSC Ha Tien 1 Cement JSC IDICO Infrastructure Development Investment Joint Stock Company Truong Long Engineering And Auto Joint Stock Company Hatien Transport JSC HUD1 Investment and Construction Joint Stock Company HUD3 Investment and construction joint stock company Hung Vuong Corporation Hai Van Cement Joint Stock Company Investment Commerce Fisheries Corporation Hoi An Tourist Holding Company Interfood ShareholdingJSC Becamex Infrastructure Development Joint Stock Company. Imexpharm Pharmaceutical JSC Tan Tao Industrial Park Corporation Investment and Trading of Real Estate Joint stock Company Innovative Technology Development Corporation Japan Vietnam Medical Instrument Joint Stock Company Khang An Investment Real Estate Joint Stock Company Kinh Bac City Development Share Holding Corporation Kinh Do Corporation Khang Dien House Trading and Investment Joint Stock Company. Khanh Hoi Import Export JSC Khanh Hoa Power JSC Mirae JSC Binh Thuan Hamico Mineral Joint Stock Company Binh Duong Mineral and Construction Joint Stock Company Ha Nam Mineral joint stock company Nari Hamico Minerals Joint Stock Company Tay Bac Minerals Investment Joint Stock Company Lilama 10 JSC Long An Food Processing Export JSC Lam Dong Building Materials JSC LICOGI 16 Joint Stock Company Lao Cai Mineral Exploitation and Processing Joint Stock Company Lugia Mechanical Electric JSC Long Giang Investment and Urban Development JSC Long Hau Corporation. Lix Detergent Joint Stock Company

HO CHI MINH CITY SECURITIES CORPORATION

23,399,413 40,499,948 10,000,000 34,457,793 44,225,385 21,000,000 8,000,000 313,618,830 40,000,000 17,260,970 98,770,778 9,885,590 197,952,000 24,949,200 8,000,000 9,917,420 10,000,000 9,999,944 64,737,753 18,500,000 12,807,000 38,000,000 29,140,992 274,194,525 15,214,500 341,989,092 68,646,328 11,610,399 24,200,000 20,000,000 289,760,512 132,025,625 43,900,000 13,168,439 40,551,296 32,450,591 15,442,559 10,700,000 11,690,000 24,190,000 26,800,000 8,900,000 14,728,019 8,157,500 56,249,956 8,568,000 8,283,561 19,996,375 19,985,506 9,000,000

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150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 LM8 LSS MBB MCG MCP MCV MDG MHC MKP MPC MSN MTG NAV NBB NHS NHW NKG NNC NSC NTB NTL NVN NVT OGC OPC PAC PAN PDN PDR PET PGC PGD PGI PHR PHT PIT PJT PNC PNJ POM PPC PPI PTB PTC PTL PVD PVF PVT PXI PXL Lilama 18 Joint Stock Company Lam Son Sugar and Sugarcane JSC Military Commercial Joint Stock Bank Vietnam Mechanization Electrification & Construction JSC My Chau Printing and Packing JSC Cavico Vietnam Mining and Construction JSC Mien Dong Joint Stock Company Hanoi Maritime Holding Company Mekophar Chemical Pharmaceutical Joint Stock Company Minh Phu Seafood Corp Ma San Group Corporation MTGAS JSC Nam Viet JSC NBB Investment Corporation Ninh Hoa Sugar Joint Stock Company Ngo Han Joint Stock Company Nam Kim Steel Joint Stock Company Nui Nho Co-operation National Seed JSC Transport Engineering Construction & Business Investment Stock Co. 584 Tu Liem Urban Development JSC House Viet Nam Joint Stock Company Ninh Van Bay Real Estate Joint Stock Company Ocean Group.,JSC OPC Pharmaceutical Joint-Stock Company Dry Cell and Storage Battery JSC PAN Pacific Corporation Dong Nai Port Joint Stock Company Phat Dat Real Estate Development Corp Petrovietnam Tourism & Services JSC Gas Petrolimex JSC Petro Viet Nam Low Pressure GAS Distribution Joint Stock Company PJICO Insurance Corporation Phuoc Hoa Rubber JSC Phuc Tien Trade Manufacture Joint Stock Company Petrolimex International Trading JSC Petrolimex Joint stock Tanker JSC Phuong Nam Cultural JSC Phu Nhuan Jewelry JSC Pomina Steel Corporation Pha Lai Thermal PowerJSC Pacific Property and Infrastructure Development & Investment JSC Phu Tai Joint Stock Company Post and Telecommunications Investment and Construction JSC Petro Capital & Infrastructure Investment Joint Stock Company PetroVietnam Drilling and Well Services JSC PetroVietnam Finance Joint Stock Corporation PetroVietnam Transportation JSC Petroleum Industrial & Civil Construction Joint Stock Company Petrovietnam Idico Long Son Industrial Park Investment JSC

HO CHI MINH CITY SECURITIES CORPORATION

8,050,000 50,000,000 730,000,000 52,050,000 10,321,162 12,092,161 10,889,031 13,555,394 9,975,781 70,000,000 515,272,269 11,999,995 8,000,000 17,860,600 8,100,000 22,877,912 29,900,000 8,319,500 8,256,161 36,000,000 61,500,000 10,656,800 60,500,000 300,000,000 12,284,860 26,628,933 11,550,000 8,231,998 130,200,000 69,053,120 34,443,346 42,900,000 70,974,218 78,975,047 18,003,273 11,387,383 8,400,000 9,818,016 59,998,433 186,317,161 323,154,614 12,216,733 12,000,646 9,500,000 99,083,210 209,740,215 600,000,000 232,600,000 30,000,000 82,500,412

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200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 PXM PXS PXT QCG RAL RDP REE RIC SAM SAV SBA SBC SBS SBT SC5 SCD SEC SFC SFI SGT SHI SJD SJS SMA SMC SPM SRC SRF SSC SSI ST8 STB STG STT SVC SVT SZL TAC TBC TCL TCM TCR TDC TDH TDW THG TIC TIE TIX TLG Mientrung Petroleum Construction Joint Stock Company Petroleum Equipment Assembly And Metal Structure JSC Petroleum Pipeline & Tank Construction Joint Stock Company Quoc Cuong Gia Lai Joint Stock Company RangDong Light Source and Vacuum Flask JSC RangDong Plastic JSC Refrigeration Electrical Engineering Corporation Royal International JSC Cables And Telecom Materials JSC Import-Export & Economic Co-Operation JSC Song Ba Joint Stock Company. Saigon Beer Transportation Joint Stock Company Sacombank Securities Joint Stock Company Sucrerie De Bourbon Tay Ninh Contrucstion No.5 JSC Chuong Duong Beverages JSC Gia Lai Cane Sugar Thermoelectricity Joint Stock Company Saigon Fuel Company Sea & Air Freight International Saigon Telecommunication and Technologies Corp Son Ha International Corporation Can Don Hydro Power JSC Song Da Urban & Industrial Zone Investment and Development JSC Si Gn Machinery Spare Parts Joint Stock Company SMC Investment - Trading JSC S.P.M Corporation Sao Vang Rubber JSC Seaprodex Refrigeration Industry Corporation Southern Seed JSC Saigon Secirities Inc Sieu Thanh JSC Saigon Thuong Tin Commercial JS Bank South Logistics Joint Stock Company Saigontourist Transport Corporation SaiGon General Service JSC Sai Gon Vien Dong Technology Joint Stock Company Sonadezi Long Thanh JSC Tuong An Oil JSC Thac Ba Hydropower Joint Stock Company Tan Cang Logistics and Stevedoring Joint Stock Company Thanh Cong Garment and Textile JSC Taicera Enterprise JSC Binh Duong Trade and Development Joint Stock Company Thu Duc Housing Developing Corporation Thu Duc Water Supply Joint Stock Company Tien Giang Investment and Construction Joint Stock Company Tay Nguyen Electricity Investment JSC Telecommunications Industry Electronics Joint Stock Company Tan Binh Import Export Joint Stock Company Thien Long Group Corporation

HO CHI MINH CITY SECURITIES CORPORATION

15,000,000 37,518,001 20,000,000 121,518,139 11,500,000 11,500,000 239,642,052 68,319,965 130,798,432 9,660,230 49,800,070 8,000,000 129,510,000 131,252,330 13,622,357 8,477,640 17,406,580 10,269,408 8,289,981 74,001,604 26,151,493 35,879,150 99,041,940 8,060,000 29,511,643 13,770,000 16,200,000 7,312,926 14,791,387 349,611,742 11,896,902 1,073,967,664 8,351,857 8,000,000 24,975,507 8,700,000 20,000,000 18,980,200 63,500,000 20,943,893 44,637,036 40,793,130 100,000,000 37,695,010 8,500,000 8,000,000 23,274,305 9,569,900 24,000,000 17,650,000

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250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 TLH TMP TMS TMT TNA TNC TNT TPC TRA TRC TRI TS4 TSC TTF TTP TV1 TYA UDC UIC VCB VCF VES VFC VFG VHC VHG VIC VID VIP VIS VKP VLF VMD VNA VNE VNG VNH VNI VNL VNM VNS VOS VPH VPK VRC VSC VSG VSH VSI VST Tien Len Steel Corporation Joint - Stock Company Thac Mo Hydro Power JSC Trans-Forwarding And Warehousing Corporation TMT Automobile Joint Stock Company Thien Nam Trading Import Export Corporation Thong Nhat Rubber JSC Tai Nguyen Corporation Tan Dai Hung Plastic JSC Traphaco JSC Tay Ninh Rubber JSC Sai Gon Beverages JSC Sea Food JSC No. 4 Techno- Agricultural Supplying JSC Truong Thanh Furniture Corporation Tan Tien Packaging Plastic JSC Power Engineering Consulting Joint Stock Company 1 Taya Vietnam Wire and Cable JSC Urban Development and Construction Corporation IDICO Urban and House Development JSC Joint Stock Commercial Bank For Foreign Trade Of Viet Nam Vinacaf Bin Hoa Joint - Stock Company Meca Vneco Investment and Electricity Construction JSC Vinafco JSC Viet Nam Fumigation Joint Stock Company Vinh Hoan Corp Viet Han Corporation Vincom JSC Vien Dong Paper JSC Vietnam Petroleum Transport JSC Viet Nam - Italy Steel JSC Viky Plastic Joint Stock Company Vinh Long Cereal And Food Import Export Company Vimedimex Medi Pharma Joint Stock Company VINASHIP Joint Stock Company Vietnam Electricity Construction Corp Viet Nam Golf Tourism Joint Stock Company VIET NHAT SEAFOOD CORPORATION Vien Nam Land Investment Corporation Vinalink International Freight Forwarders Vietnam Dairy Products JSC Vietnam Sun Corporation Viet Nam Ocean Shipping Joint Stock Company Van Phat Hung JSC Vegetable Oil Packing JSC Vung Tau Real Estate and Construction Joint Stock Company. Vietnam Container and Shipping JSC South VietNam CONTAINER Shipping JSC Vinh Son Song Hinh Hydropower JSC Water Supply Sewerage Construction and Investment JS Co. Viet Nam Sea Transport and Chartering Joint Stock Company

HO CHI MINH CITY SECURITIES CORPORATION

53,955,884 70,000,000 18,275,870 28,040,536 8,000,000 19,250,000 8,500,000 21,268,956 12,337,664 29,600,000 27,548,360 11,390,948 8,012,915 31,249,518 14,999,998 20,009,765 27,892,014 34,839,350 8,000,000 2,317,417,076 26,579,135 9,007,500 33,976,121 12,672,543 45,952,523 25,000,000 549,383,305 25,522,767 59,323,395 30,000,000 8,000,000 10,400,000 8,141,196 20,000,000 62,122,141 13,000,000 8,023,071 10,337,276 9,000,000 556,238,325 29,999,997 140,000,000 27,714,816 8,000,000 14,504,762 23,727,902 11,044,000 202,241,246 13,200,000 58,999,337

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300 301 302 VTB VTF VTO Viettronics Tanbinh JSC Viet Thang Aquafeed Joint Stock Company Vitaco Petroleum Transportation JSC

HO CHI MINH CITY SECURITIES CORPORATION

10,892,660 18,025,509 79,866,666

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listed company in the HNX
Number 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 Ticker AAA ACB ADC AGC ALT ALV AMC AME AMV APG API APP APS ARM AVS B82 BBS BCC BDB BED BHC BHT BHV BKC BLF BPC BSC BST BTH BTS BVG BVS BXH C92 CAN CAP CCM CIC CID CJC CKV CMC CMI CMS CPC CSC CT6 CTA CTB Company name An Phat Plastic and Green Environment JSC Asia Commercial Bank Art and Design Communication JSC An Giang Coffee JSC ALTA COMPANY Vinas A Luoi Mineral JSC Asia Mineral Join Stock Company ALPHANAM Mechanical Electric JSC,. AMERICAN VIETNAMESE BIOTECH INCORPORATION ANPHAT SECURITIES JOINT STOCK COMPANY Asia - Pacific Investment JSC Additives and Petroleum Products JSC Asia - Pacific Securities Joint Stock Company General Aviation Import Export JSC AU VIET SECURITIES CORPORATION 482 Joint Stock Company ButSon Cement Packing JSC BimSon Cement JSC Binh inh Book and Equipment Joint Stock Company Danang Books and School Equipment JSC Bien Hoa Concrete JSC Bach Dang TMC Construction Investment JSC Viglacera BaHien JSC Bac Kan Mineral Joint Stock Corporation Bac Lieu Fisheries JSC Bimson Packing Company Ben Thanh Service JSC Binh Thuan Book and Equipment JSC Ha Noi Transformer Manufacturing and Electric Material JSC ButSon Cement JSC Bacviet Steel JSC Bao Viet Securities Company Haiphong Cement Packing Joint-Stock Company Construction and Investment JSC No. 492 Halong Canned Food JSC Yen Bai Agro-forestry products and Foodstuff Corporation Can Tho Minerals and Cement JSC COTEC Investment and Construction JSC Construction and Infrastructure Development JSC Central Area Electrical Mechanical JSC POST AND TELECOMMUNICATION TRADING JSC CMC Investment JSC Cavico Industry and Minerals JSC Cavico Construction Manpower and Services JSC CAN THO PESTICIDES JOINT STOCK COMPANY Thanh Nam construction and investment Join Stock Company Construction joint stock company no6 Vinavico JSC Hai Duong Pump Manufacturing JSC

HO CHI MINH CITY SECURITIES CORPORATION

Current Outstanding share 9,900,000 937,696,500 1,000,000 8,300,000 4,920,398 1,500,000 2,739,743 12,000,000 2,115,750 13,528,900 26,400,000 3,811,500 39,000,000 2,592,740 36,000,000 3,000,000 4,000,000 95,661,397 1,126,474 3,000,000 4,500,000 2,600,000 972,013 5,443,200 5,000,000 3,800,000 3,000,000 1,100,000 3,500,000 109,056,192 9,750,948 72,218,737 3,012,040 2,400,000 5,000,000 1,691,045 4,600,000 4,213,789 1,036,700 2,000,000 4,050,000 4,561,050 7,426,000 2,500,000 4,081,450 5,000,000 6,105,759 9,088,000 1,714,330

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50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 CTC CTM CTN CTS CTV CVN CVT CX8 D11 DAC DAD DAE DBC DBT DC2 DC4 DCS DHI DHT DID DIH DL1 DLR DNC DNM DNP DNY DPC DST DTC DXP DZM EBS ECI EFI EID FDT FLC GBS GFC GGG GHA GLT HAD HAT HBB HBD HBE HBS HCC Gia Lai Culture - Tourism JSC VINAVICO investment, construction and mining JSC Underground Works Construction JSC Vietinbank Securities Vietnam Investment Production and Trading JSC Vinam JSC CMC Joint Stock Company CONSTREXIM NO 8 INVESTMENT AND CONSTRUCTION JSC Real Estate 11 Joint Stock Company Viglacera Dong Anh JSC Da Nang Education Development and Investment JSC Educational Book JSC In Da Nang City DABACO Vietnam Corporation Ben Tre Pharmaceutical Joint Stock Company Development Investment Construction Number 2 JSC DIC No.4 Joint Stock Company Dai Chau Joint Stock Company Dien Hong Printing JSC Ha Tay Pharmaceutical JSC DIC- DONG TIEN JOINT STOCK COMPANY Development Investment Construction Hoi An JSC Duc Long Gia Lai Investment & Development of Public Project Service JSC DALAT REAL ESTATE JOINT STOCK COMPANY HAIPHONG ELECTRICITY WATER MACHINE ASSEMBLY JSC DANAMECO MEDICAL JOINT - STOCK CORPORATION DongNai Plastic Construction JSC DANA-Y STEEL JOINT STOCK COMPANY Da Nang Plastic JSC Nam Dinh Educational Book and Equipment JSC Viglacera Dong Trieu JSC Doan Xa Port Joint Stock Company Dzi An Manufacturing Public Limited Company Educational Book JSC in Hanoi City Education cartography and illustration JSC Education financial investment JSC Hanoi Education Development and Investment JSC Tan Dinh Fiditourist Travel JSC FLC Group JSC Golden Bridge VietNam Securities JSC Gentraco Feed JSC GiaiPhong Motor JSC Hai Au Paper JSC Global Electrical Technology Corporation Hanoi Hai Duong Beer JSC Hanoi Beer Trading JSC Hanoi Building Commercial Joint Stock Bank Binh Duong PP Pack Making Joint Stock Company Ha Tinh Book and Educational Equipment JSC Hoa Binh Securities Joint Stock Company Hoa Cam Concrete Joint Stock Company

HO CHI MINH CITY SECURITIES CORPORATION

8,799,926 4,000,000 6,261,590 78,068,000 2,000,000 3,250,000 7,794,100 1,956,800 3,639,995 1,004,974 4,920,200 1,498,680 43,611,100 2,948,500 2,520,000 4,900,500 33,499,699 2,628,042 6,282,602 5,000,000 2,905,842 1,800,000 4,500,000 2,199,697 2,411,510 3,415,127 20,000,000 2,237,280 1,000,000 2,000,000 7,874,972 3,449,850 9,938,784 1,860,000 12,303,100 15,000,000 3,054,500 17,000,000 13,500,000 8,480,000 9,177,171 9,216,696 5,314,448 4,000,000 3,123,000 405,000,000 1,428,300 2,231,058 32,999,980 3,670,483

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100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 HCT HDA HDO HEV HGM HHC HHG HHL HJS HLC HLY HMH HNM HOM HPB HPC HPR HPS HST HTB HTC HTP HUT HVT ICG IDJ IDV ILC INC INN IVS KBT KHB KHL KKC KLS KMT KSD KST KTS KTT L14 L18 L35 L43 L44 L61 L62 LBE LCD Hai Phong Cement Transport & Trading JSC Dong A Paint JSC Hung Dao Container Joint Stock Company HIGHER EDUCATIONAL AND VOCATIONAL BOOK Ha Giang Mineral and Mechanics joint stock company Haiha Confectionery JSC HOANGHA JOINT STOCK COMPANY Hong Ha Long An Joint Stock Company Nam Mu Hydropower JSC HaLam - TKV Coal JSC Viglacera Ha Long I JSC HAI MINH CORPORATION Hanoimilk JSC Hoang Mai Cement JSC PP PACK MARKING JOINT STOCK COMPANY Haiphong Securities JSC Hong Phat Construction Investment JSC Hoa Phat Construction Stone JSC Hung Yen Book Publishing and Educational Equipment JSC Huy Thang Construction JSC HOCMON TRADE JOINT STOCK COMPANY Hoaphat Textbook Printing JSC Tasco JSC Viet Tri Chemicals JSC Song Hong construction JSC IDJ International Financial Investment And Enterprise Vinh Phuc Infrastructure Development Joint Stock Company International Labor and Services JSC IDICO Investment Consultancy Joint Stock Company AGRICULTURE PRINTING AND PACKAGING JSC VNS Securities JSC KIEN GIANG BRICK TILE JOINT STOCK COMPANY HOABINH MINERAL JOINT STOCK COMPANY Hung Long Mineral and Building Materials JSC Produce and Trading Metal JSC Kim Long Securities Corporation CENTRAL VIETNAM METAL CORPORATION SOUTH EAST ASIA HAMICO EXPORT JSC KASATI JOINT STOCK COMPANY Kontum Sugar JSC Thien Truong Power Equipment Investment and Construction JSC Licogi 14 Joint Stock Company Investment and Construction JSC No.18 LILAMA ERECTION MECHANICAL JOINT STOCK COMPANY LILAMA 45.3 Joint Stock company LILAMA 45.4 Joint Stock Company Lilama 69-1 JSC LILAMA 69-2 JSC Long An Book and Educational Equipment JSC LILAMA - Electromechanics Testing JSC

HO CHI MINH CITY SECURITIES CORPORATION

2,016,385 2,200,000 9,319,879 1,000,000 6,000,000 8,212,500 13,255,400 2,748,270 14,999,989 11,955,675 999,905 7,142,396 12,500,000 69,228,600 3,857,200 39,693,560 4,800,000 1,565,250 1,488,440 1,800,000 5,250,000 1,759,180 34,997,600 7,234,212 20,000,000 32,600,000 3,528,500 4,052,732 2,000,000 5,400,000 16,100,000 3,001,699 6,270,000 9,500,000 4,692,300 202,500,000 9,846,562 10,737,500 2,996,010 3,900,000 2,875,000 2,880,000 5,400,000 3,265,155 3,500,000 3,980,000 7,015,000 5,741,817 1,095,900 1,350,000

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150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 LCS LDP LHC LIG LM3 LM7 LO5 LTC LUT MAC MAX MCC MCF MCL MCO MDC MEC MHL MIC MIH MIM MKV MMC MNC NAG NBC NBP NDN NET NGC NHA NHC NIS NLC NPS NSN NST NTP NVB NVC OCH ONE ORS PCG PCT PDC PFL PGS PGT PHC LICOGI 16.6 JOINT STOCK COMPANY LAMDONG PHARMACEUTICAL JSC Lam Dong Investment Hydraulic Construction Joint Stock LICOGI 13 JOINT STOCK COMPANY LILAMA3 Joint Stock Company LILAMA 7 JOINT STOCK COMPANY Lilama 5 Joint stock Company Low Current - Telecom JSC Luong Tai Construction Joint Stock Company MARINE SUPPLY AND ENGINEERING SERVICE JSC Huu Nghi Vinh Sinh Mining and Mechanic JSC HIGH GRADE BRICK - TILE CO-OPERATION Mechanics Construction and Foodstuff JSC Chi Linh Building Materials and House Development JSC MCO Vietnam JSC Vinacomin - Mong Duong Coal JSC Song Da Someco JSC Minh Huu Lien Joint Stock Company Quang Nam Mineral Industry Corporation Ha Nam Import Export Joint Stock Company Mineral and Mechanical JSC Cai Lay Veterinary Pharmaceutical JSC Manganese Mineral JSC Mai Linh Corporation In Northern Central Nagakawa Viet Nam JSC Vinacomin - Nui Beo Coal JSC Ninh Binh Thermal Power Joint-Stock Company Danang Housing Investment and Development Joint Stock Company Net Detergent JSC Ngo Quyen Export Seafood Processing JSC Ha Noi South Housing and Urban Development Corporation Nhi Hiep Brick-Tile Co-Operation Network Infrastructure Services JSC Naloi Hydropower JSC Phu Thinh - Nha Be Garment JSC 565 CONSTRUCTION JOINT STOCK COMPANY Ngan Son Joint Stock Company Tien Phong Plastic JSC Nam Viet Commercial Joint Stock Bank Nam Vang JSC Ocean Hospitality & Service Join Stock Company One Corporation Orient Securities Corporation Petro Viet Nam Gas City Investment and Development JSC Cuu Long PetroGas Transportation JSC Phuong Dong Petroleum Tourism JSC PetroVietnam Finance Land JSC Petrovietnam Southern Gas JSC Saigon Petrolimex Gas Taxi Joint Stock Company Constrexim - Phuc Hung investment construction and import - export JSC

HO CHI MINH CITY SECURITIES CORPORATION

6,000,000 3,399,959 1,890,000 11,581,900 5,150,000 5,000,000 5,000,000 3,880,000 14,960,000 5,499,811 7,200,000 4,638,300 3,500,000 2,220,000 4,103,929 15,083,952 7,000,000 3,834,050 5,455,721 3,780,000 3,099,939 1,123,592 3,160,000 7,017,130 14,849,576 12,000,000 12,865,500 9,520,000 7,999,446 1,200,000 8,835,000 1,474,845 3,000,000 5,000,000 2,170,000 2,959,314 6,913,133 43,337,996 297,669,552 15,000,000 100,000,000 5,000,000 24,000,000 18,870,000 23,000,000 15,000,000 50,000,000 38,000,000 9,241,801 10,829,977

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200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 PHH PHS PIV PJC PLC PMC PMS POT PPE PPG PPP PPS PRC PSC PSG PSI PTI PTM PTS PV2 PVA PVC PVE PVG PVI PVL PVR PVS PVV PVX PXA QCC QHD QNC QST QTC RCL RHC S12 S27 S55 S64 S74 S91 S96 S99 SAF SAP SCC SCJ Hong Ha Petroleum Joint Stock Company Fortunes Securities Corporation PIV Petro Investment and Valuation Joint Stock Company Petrolimex Hanoi Transportation and Trading JSC Petrolimex Petrochemical JSC Pharmedic Pharmaceutical Medicinal JSC Petroleum Mechanical Stock company Post and Telecommunication Equipment JSC PetroVietnam Power Engineering Consulting Joint Stock Company Phu Phong Corporation Phong Phu Pharmaceutical JSC Petrovietnam Power Services Joint Stock Company PortSerco JSC Petrolimex Saigon Transportation and Service JSC Saigon Petroleum Constrution and Investment Joint Stock Company PetroVietnam Securities Incorporated POST & TELECOMMUNICATION JS INSURANCE CORPORATION The Precision Tools and CNC Machine JSC HaiPhong Petrolimex Transportation and Services JSC PVI Investment and Development JSC PetroVietnam Nghe An Construction JSC Drilling Mud Corporation Petrovietnam Investment Consultancy and Engineering JSC Petrovietnam Nothern Gas JSC Petrovietnam Insurance PetroVietnam Power Land Joint Stock Company PetroVietnam Premier Recreation Joint Stock Company Petroleum Technical Services Corporation Vinaconex - PVC Construction Investment JSC Petro Vietnam Construction Joint Stock Corporation Quangnam Post Telecoms Construction and Services Corporation Quangnam Post Telecoms Construction and Services Corporation Viet- Duc Welding Electrode Joint Stock Company Quang Ninh Construction and Cement JSC Quang Ninh Book and Educational Equipment JSC Quang Nam Transportation Construction JSC CHOLON REAL ESTATE JOINT STOCK COMPANY Ry Ninh II Hydroelectric JSC Song Da 12 JSC Song Da 27 Joint Stock Company Song Da 5.05 JSC Song Da 6.04 JSC Song Da 7.04 JSC Song Da 9.01 JSC Song Da No 9.06 Joint Stock Company Song Da No 9.09 JSC SAFOCO foodstuff JSC Textbook Printing JSC In Hochiminh City Songda Cement JSC SAI SON CEMENT JOINT STOCK COMPANY

HO CHI MINH CITY SECURITIES CORPORATION

18,214,000 30,000,000 1,200,000 3,074,260 50,199,090 6,475,394 7,201,772 19,286,346 2,000,000 7,776,200 2,335,500 15,000,000 1,178,890 4,800,000 35,000,000 59,841,300 44,987,457 4,200,000 5,568,000 36,868,800 21,846,000 35,000,000 18,000,000 27,719,850 319,740,536 50,000,000 52,356,713 297,802,094 30,000,000 250,000,000 15,086,160 1,500,000 4,249,901 18,383,109 1,350,000 1,200,000 4,499,553 5,120,000 5,000,000 1,572,833 2,490,100 2,000,000 6,000,000 2,940,000 11,155,532 9,998,960 4,545,777 1,286,984 1,887,600 9,758,000

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250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 SCL SCR SD1 SD2 SD3 SD4 SD5 SD6 SD7 SD8 SD9 SDA SDB SDC SDD SDE SDG SDH SDJ SDN SDP SDS SDT SDU SDY SEB SED SEL SFN SGC SGD SGH SHB SHC SHN SHS SIC SJ1 SJC SJE SJM SKS SME SMT SNG SPP SQC SRA SRB SSG SONG DA CAO CUONG, JSC Sai Gon Thuong Tin Real Estate Joint Stock Company Song Da No 1 Joint Stock Company Song Da No 2 JSC Song Da No 3 JSC Song Da 4 JSC Song Da No 5 JSC Song Da No 6 JSC Song Da No 7 JSC Song Da 8 JSC Song Da No 9 JSC Song Da SIMCO JSC Song Da 207 Joint stock company Song Da Consulting JSC Song Da Assembly Construction & Investment Joint Stock Company Song Da Electrical Engineering JSC CAN THO SADICO JOINT STOCK CORPORATION Song Da Infrastructure Construction Joint Stock Company Song Da 25 Joint Stock Company Dong Nai Paint Corporation Song Da Trading and Transport JSC Song Da Construction and Investment JSC Song Da No 10 JSC Song Da Urban Investment Construction and Development JSC Song Da Yaly Cement JSC Mien Trung Power Investment and Development JSC Phuong Nam Education Investment and Development JSC Song Da 11 Thang Long Joint Stock Company Saigon Fishing Net Joint Stock Company Sa Giang Import Export Corporation Educational Book JSC in Ho Chi Minh City SAIGON HOTEL CORPORATION Sai Gon - Hanoi Commercial Joint Stock Bank Sai Gon Maritime Joint Stock Co. Ltd Hanoi Investment General Corporation Saigon - Hanoi Securitities JSC Song Da Investment - Development JSC Seafood Joint Stock Company No 1 Song Da 1.01 Joint Stock Company Song Da No 11 JSC Song Da No. 19 JSC Song Da Transportation Construction JSC SME SECURITIES CORPORATION SAM CUONG MATERIAL ELECTRIC & TELECOM CORPORATION Song Da No 10.1 JSC Saigon Plastic Packaging JSC Sai Gon Quy Nhon Mining Corporation Sara Vietnam JSC Sara JSC Seagull Shipping Company

HO CHI MINH CITY SECURITIES CORPORATION

9,000,000 100,000,000 5,000,000 12,000,000 15,999,356 10,300,000 9,000,000 17,509,824 9,000,000 2,800,000 29,250,000 13,103,426 11,000,000 2,609,648 16,007,335 1,751,095 6,499,997 20,539,500 4,343,700 1,518,218 11,114,472 2,436,300 21,060,000 20,000,000 4,500,000 12,500,000 8,000,000 5,000,000 2,894,150 7,147,580 4,037,000 1,766,300 481,083,361 3,709,550 32,453,360 99,845,000 7,999,994 3,500,000 4,468,905 7,991,797 5,000,000 4,500,000 22,500,000 2,765,787 4,608,360 12,307,790 100,000,000 2,000,000 8,500,000 4,981,190

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300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 SSM SSS STC STL STP SVI SVN SVS TAG TAS TBX TC6 TCS TCT TDN TET TH1 THB THT THV TIG TJC TKC TKU TLC TLT TMC TMX TNG TPH TPP TSB TSM TST TTC TV2 TV3 TV4 TVD TXM UNI V11 V12 V15 V21 VAT VBC VBH VC1 VC2 Steel Structure Manufacture JSC Song Da 6.06 Joint Stock Company Book and Educational Equipment JSC in Ho Chi Minh city Song Da - Thang Long JSC Song Da Industry Trade Joint Stock Company Bien Hoa Packaging Comapny SOLAVINA Joint stock company Viet Star Securities Corporation TRAN ANH DIGITAL WORLD JOINT STOCK COMPANY Trang An Securities Joint Stock Company Thai Binh Cement JSC Vinacomin Coc Sau Coal JSC Vinacomin - CaoSon Coal JSC Tay Ninh Cable Car Tour JSC VInacomin - DeoNai Coal JSC NORTHERN TEXTILES AND GARMENTS JSC (TEXTACO) The Vietnam National General Export - Import JSC No.1 Thanh Hoa Beer JSC Vinacomin - Ha Tu Coal JSC Thai Hoa Viet Nam Group Joint Stock Company THANGLONG INVESTMENT GROUP JOINT STOCK COMPANY Transportation and Trading Services Joint Stock Company Tan Ky construction and real estate trading corporation Tung Kuang Industrial JSC Thang Long Telecommunications JSC Viglacera Thanglong Ceramic Tiles JSC Thu Duc Trading and Import Export Joint Stock Company Cement Trading JSC TNG Investment and Trading JSC Hanoi Textbooks Printing JSC Tan Phu Plastic JSC Tiasang Battery Joint stock company TIEN SON CEMENT JOINT STOCK COMPANY Telecommunication Technical Service Joint Stock Company Thanh Thanh Joint Stock Company Power Engineering Consulting JSC No.2 Power Engineering Consulting Joint Stock Company Power Engineering Consulting JSC No.4 VANG DANH COAL JOINT STOCK COMPANY Gypsum and Cement JSC Vien Lien Joint Stock Company Construction JSC No 11 CONSTRUCTION JOINT STOCK COMPANY NO 12 Vinaconex 15 Joint Stock Company Vietnam Construction Joint Stock Company No.21 Van Xuan Telecom JSC Vinh Plastic and Bags JSC Viettronics Binh Hoa JSC Construction JSC No 1 Vietnam Construction JSC No. 2

HO CHI MINH CITY SECURITIES CORPORATION

4,947,477 2,500,000 5,381,030 15,000,000 6,640,800 8,894,690 3,000,000 13,500,000 8,121,256 13,900,000 1,510,280 12,998,694 14,999,229 3,197,000 16,000,000 5,702,940 12,039,616 11,424,570 9,100,000 55,000,000 16,500,000 6,000,000 9,756,716 24,379,946 11,080,000 6,989,800 8,000,000 6,000,000 13,461,325 2,015,985 4,000,000 3,372,740 2,936,140 4,800,000 5,940,528 4,439,000 3,380,986 5,040,346 15,280,790 7,000,000 9,484,468 8,399,889 5,818,000 10,000,000 1,700,000 1,132,000 2,999,989 2,900,000 7,204,200 7,864,504

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350 351 352 353 354 355 356 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 VC3 VC5 VC6 VC7 VC9 VCC VCG VCH VCM VCR VCS VCV VDL VDS VE1 VE2 VE3 VE9 VFR VGP VGS VHH VHL VIE VIG VIT VIX VKC VLA VMC VMG VNC VND VNF VNR VNT VSP VTC VTL VTS VTV VXB WCS WSS XMC YBC Construction JSC No. 3 Construction JSC No.5 Vinaconex 6 JSC No7 Vietnam Construction JSC Construction JSC No.9 Vinaconex 25 JSC Vietnam Construction and Import-Export Joint Stock Corporation Vinaconex infrastructure development & construction investment JSC VINACONEX TRADING AND MANPOWER JOINT Vinaconex Investment and Tourism development JSC Vinaconex Advanced Compound Stone Joint Stock Company Vinaconex Transportation JSC Lamdong Foodstuffs Joint Stock Co VIET DRAGON SECURITIES CORPORATION VNECO 1 Electricity Construction JSC Vietnam Electricity Construction 2 JSC VNECO 3 Electricity Construction JSC VNECO 9 Electricity Construction JSC Transport and Chartering Corporation The Vegetexco Port Joint Stock Company Vietnam Germany Steel Pipe JSC VIWASEEN - HUE Investment and Construction JSC Viglacera Ha Long JSC VITECO Vietnam Telecommunications Technology JSC Viet Nam Industrial & Commercial Securities Corporation Viglacera Tien Son JSC VINCOM SECURITIES JOINT STOCK COMPANY Vinhkhanh Cable Plastic Corporation Van Lang Technology Development and Investment JSC Vimeco JSC Vung Tau Petroleum Trading and Service Joint Stock Company The Vietnam Superintendence and Inspection JSC VNDIRECT Securities Corporation Vinafreight International Freight Forwarders JSC Vietnam National Reinsurance Corporation The Foreign Trade Forwarding and Transportation JSC VINASHIN Petroleum Investment and Transport JSC VTC Telecommunications JSC Thang Long Wine JSC Viglacera Tuson JSC Cement Materials and Transportation JSC Ben Tre Building Material Joint Stock Company West Coach Station JSC Wall Street Securities company Vinaconex Xuan Mai Concrete & Construction Joint Stock Company Yen Bai Cement and Mineral JSC

HO CHI MINH CITY SECURITIES CORPORATION

7,933,800 5,000,000 8,000,000 7,750,000 11,695,200 6,000,000 300,000,000 4,000,000 3,000,000 35,240,000 52,999,251 11,007,183 3,128,840 34,979,987 2,931,280 2,158,880 1,319,710 7,200,088 15,000,000 8,053,022 36,003,310 6,000,000 9,000,000 1,561,244 34,132,800 9,900,000 30,000,000 13,000,000 1,080,000 6,500,000 9,600,000 7,837,300 99,955,079 5,584,500 100,827,658 5,416,600 32,915,803 4,529,143 1,798,820 2,000,205 15,600,000 4,049,006 2,500,000 50,300,000 19,996,480 4,811,610

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HO CHI MINH CITY SECURITIES CORPORATION

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Copyright 2008 Ho Chi Minh Securities Corporation (HSC). All rights reserved. This report has been prepared and is being issued by HSC or one of its affiliates for distribution in Viet Nam and overseas. The information herein is believed by HSC to be reliable and is based on public sources believed to be reliable. With the exception of information about HSC, HSC makes no representation about the accuracy of such information. Opinions, estimates and projection expressed in this report represent the current views of the author at the date of publication only. They do not necessarily reflect the opinions of HSC and are subject to change without notice. HSC has no obligation to update, amend or in any way modify this report or otherwise notify a reader thereof in the event that any of the subject matter or opinion, projection or estimate contained within it changes or becomes inaccurate. The information herein was obtained from various sources which we believe to be reliable but we do not guarantee its accuracy or completeness. Prices and availability of financial instruments are also subject to change without notice. This published research may be considered by HSC when buying or selling proprietary positions or positions held by funds under its management. HSC may trade for its own account as a result of short term trading suggestions from analysts and may also engage in securities transactions in a manner inconsistent with this report and opinions expressed therein. Neither the information nor any opinion expressed in this report constitutes an offer, nor an invitation to make an offer, to buy or to sell any securities or any option, futures or other derivative instruments in any jurisdiction. Nor should it be construed as an advertisement for any financial instruments. Officers of HSC may have a financial interest in securities mentioned in this report or in related instruments. This research report is prepared for general circulation and for general information only. It does not have regard to the specific investment objectives, financial situation or particular needs of any person who may receive or read this report. Investors should note that the prices of securities fluctuate and may rise and fall. Past performance, if any, is no guide to the future. The financial instruments discussed in this report may not be suitable for all investors. Investors must make their own financial decisions based on their independent financial advisors as they believe necessary and based on their particular financial situation and investment objectives. This report may not be copied, reproduced, published or redistributed by any person for any purpose without the express permission of HSC in writing. Please cite sources when quoting.

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