Report
James Carthew ...
  • Matthew Read
  • Richard Williams

Vietnam Holding Limited – A real growth story that remains intact

Despite having coped well with COVID and appearing to offer very strong growth prospects over the next five years (see page 5), the Vietnamese market may have been weighed down by severe negative sentiment towards Asia in recent months. This seems to be a function of lockdowns in China, slowing global growth and rising interest rates in the West.

Vietnam Holding (VNH) has outperformed local market indices by good margins. Nevertheless, it has lost value during the last twelve months and, possibly as a consequence, its discount has widened.

The Vietnamese market appears cheap versus both global and emerging Asian peers, and it has the potential to see a rerating as growth comes through.
Underlying
Vietnam Holding

Provider
QuotedData Retail
QuotedData Retail

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Analysts
James Carthew

Matthew Read

Richard Williams

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