Tung Nguyen

Regulation is a crucial consideration for private fund managers in today's complex landscape https://lnkd.in/gNYAvKsT Download our free SPV Global Outlook 2024 report and learn how private market managers worldwide are not only complying with but leveraging new regulations. #privatemarkets #SPV #dealmaking

19

iKIS: A leading trend-setting trading app for young investors 📣 KIS Securities Vietnam Joint Stock Company (KIS) launched its iKIS trading app on March 15, 2024. This new app features a user-friendly interface and a variety of features that provide investors with a convenient and innovative investment experience. iKIS makes it easy for investors to track and execute trades, from buying and selling stocks to managing their investment portfolios. iKIS is expected to create a new wave of user experience trends, anticipating the strong investment needs of young Vietnamese retail investors. 🔹 iKIS was designed and developed by a team of Korean technical experts and utilizes data from FiinGroup's API Datafeed service. After six months of design and refinement, this product has been well-received by users and has received many positive reviews. About KIS Vietnam: KIS Vietnam has a charter capital of VND 3,761 billion and is strongly supported by the KIS Group in Korea, with experience in the financial sector and a combination of foreign experts with a team of excellent employees with many years of experience in banking, auditing and the domestic capital market. KIS Vietnam focuses on developing management and risk management techniques to put the company in a leading position in all financial fields in Vietnam. About FiinGroup and API Datafeed service: Founded in 2008, FiinGroup is a leading provider of integrated financial data services, business information, industry research, credit rating reports and other data-based analysis services. API Datafeed is a service of FiinGroup, providing customers with a comprehensive, accurate, continuously updated and complete data input solution, suitable for all platforms/products supporting securities investment including websites, trading boards and applications, algorithmic trading for institutional/individual investors. 🔹Learn more at: https://lnkd.in/gz8uFnkh #FiinProX #FinancialData #VietnameseStockMarket #KoreanInvestment #Trusted #Prestigious #ExpertSystem #API #Datafeed #LongTermSupport

12

📊 Enhancing Transparency in Vietnam’s Real Estate Market with Citics 🏡 Vietnam has recently been ranked the least transparent property market in Southeast Asia, securing the 49th position out of 89 countries in JLL's 2024 Global Real Estate Transparency Index. The region’s leading markets, such as Singapore (13th), Thailand (32nd), and Malaysia (33rd), highlight the disparity in transparency levels, which impacts investment performance, regulatory frameworks, and transaction processes. In this context, Citics.vn, the innovative prop-tech startup, stands out as a crucial solution. Citics is revolutionizing the real estate sector in Vietnam by developing an all-in-one app designed to enhance transparency and streamline transactions. Citics' platform addresses the challenges identified by the index by centralizing scattered real estate data, including location information, photos, prices, and legal documents. By integrating these elements into a single, accessible platform, Citics not only facilitates more efficient transactions but also contributes to greater market transparency. This is essential in a market where transparency is still evolving and can significantly impact investment decisions and market dynamics. Citics provides data solutions for banks to value properties used as collateral for loans, allowing the bank's risk management department to see the details and reserve value of the property. As of 2024, more than 30,000,000 properties were digitalized by Citics.vn in 39 provinces across Vietnam. Additionally, the company has partnered with 25+ major banks, onboarded 1,500+ active brokerage partners, and expanded its services from Ho Chi Minh City to Hanoi and other parts of Vietnam. As they continue to build and expand their platform, they are committed to supporting the growth and transparency of Vietnam’s real estate market. Stay tuned for more updates as Citics will drive innovation and make real estate transactions easier and more transparent for everyone. #TheVentures #RealEstate #Transparency

22

Southeast Asian M&A activity is set to increase! - 𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭 𝐫𝐚𝐭𝐞 𝐜𝐮𝐭𝐬 lowering financing costs for acquirers - Strong 𝐞𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐠𝐫𝐨𝐰𝐭h with Southeast Asia - Continued 𝐟𝐨𝐫𝐞𝐢𝐠𝐧 𝐝𝐢𝐫𝐞𝐜𝐭 𝐢𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐢𝐧𝐟𝐥𝐨𝐰𝐬, signaling investor confidence - A selective approach to dealmaking, with acquirers focusing on 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐚𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧𝐬 - The need for 𝐬𝐮𝐩𝐩𝐥𝐲 𝐜𝐡𝐚𝐢𝐧 𝐝𝐢𝐯𝐞𝐫𝐬𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧 due to global trade disruptions With these favorable conditions, the region's M&A landscape looks poised for a revival. #MergersAndAcquisitions #SoutheastAsia #EconomicGrowth #FDI #DealMaking #PrivateEquity #SupplyChain

9

1 Bình luận

𝗠&𝗔 𝗿𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝘁 𝘄𝗵𝗶𝗹𝗲 𝗜𝗣𝗢 𝗰𝗵𝗶𝗹𝗹𝘀 As we head into the final stretch of 2024, it's a timely moment to reflect on the evolving Southeast Asian #startup landscape. While #IPO markets remain subdued, M&A activity continues to surge, offering a compelling alternative for startups seeking growth and liquidity. Here are the key takeaways from our House View this quarter: ❄️𝗜𝗣𝗢𝘀 𝗖𝗵𝗶𝗹𝗹: VCs demand both growth potential and a solid financial foundation, making IPOs challenging for many startups. 🤝𝗠&𝗔 𝗮𝘀 𝗮 𝘃𝗶𝗮𝗯𝗹𝗲 𝗲𝘅𝗶𝘁 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝘆: Mergers and acquisitions offer startups a way to secure resources, technology, and market access for accelerated growth. 🎯 𝗧𝗲𝗰𝗵 𝗴𝗶𝗮𝗻𝘁𝘀 𝗼𝗻 𝘁𝗵𝗲 𝗽𝗿𝗼𝘄𝗹: Established tech companies are actively acquiring smaller startups to solidify their positions and expand into new sectors. 📏 𝗧𝗵𝗲 𝗶𝗺𝗽𝗼𝗿𝘁𝗮𝗻𝗰𝗲 𝗼𝗳 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗱𝗶𝘀𝗰𝗶𝗽𝗹𝗶𝗻𝗲: Regardless of funding route, startups need to manage their finances strategically for long-term success. 𝗟𝗼𝗼𝗸𝗶𝗻𝗴 𝗮𝗵𝗲𝗮𝗱: The Federal Reserve's interest rate cut sparks optimism for a more vibrant funding environment in 2025. However, securing capital is just one piece of the puzzle. 𝗦𝘁𝗮𝗿𝘁𝘂𝗽𝘀 𝗺𝘂𝘀𝘁 𝗽𝗿𝗶𝗼𝗿𝗶𝘁𝗶𝘇𝗲 𝘀𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗹𝗲 𝗲𝘅𝗽𝗮𝗻𝘀𝗶𝗼𝗻 𝗮𝗻𝗱 𝘂𝘁𝗶𝗹𝗶𝘇𝗲 𝗱𝗶𝘃𝗲𝗿𝘀𝗲 𝗳𝘂𝗻𝗱𝗶𝗻𝗴 𝘀𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗲𝘀 𝘁𝗼 𝘁𝗵𝗿𝗶𝘃𝗲. Read the full article for a deeper dive into Southeast Asia's evolving startup landscape here 👉 : https://lnkd.in/g9mQ4nVT

8

Key Insights on Thailand's Healthcare Ecosystem 2024: Thailand's healthcare landscape is flourishing with exciting developments shaping its future. Major healthcare corporations are actively expanding through strategic acquisitions, while the Stock Exchange of Thailand (SET) presents a potentially attractive avenue for companies seeking to go public, often providing compelling valuations. Medical tourism continues to be a cornerstone of Thailand's healthcare sector, with a growing influx of international patients and increased participation from foreign insurance providers. This trend significantly contributes to the revenue streams of leading hospital groups. Thailand has also become a preferred destination for fertility treatments, particularly In Vitro Fertilization (IVF). The country's expertise in this field, combined with favorable cultural, legal, and economic factors, has attracted patients from various countries, including China. Innovation is driving transformation within the ecosystem. Emerging players are leveraging technology to create direct connections between surgeons and patients, especially for minimally invasive procedures, enhancing accessibility and efficiency. Thailand's healthcare system continues to evolve, with pharmacies playing a crucial role in providing primary care and health advice to the population. This adaptability showcases the system's resilience and commitment to meeting diverse healthcare needs. #ThailandHealthcare #IVF #Thailand #HealthcareInnovation

29

PERFORMANCE OF INVESTMENT FUNDS IN VIETNAM   Performance Overview: In September 2024, 87% of equity funds (55 out of 61 funds) outperformed the VNINDEX, led by ETFs such as SSIAM VNFINLEAD and KIM GROWTH VN30 ETF, driven by portfolios focused on banking and securities sectors. However, overall performance declined compared to August due to less favorable market conditions. Bond funds maintained stable performance, with 17 out of 23 funds delivering returns higher than deposit rates, notably the Bao Viet Bond Investment Fund (BVBF). Capital Flows into the Stock Market via Funds: September 2024 marked a reversal, with net inflows exceeding VND 1.1 trillion after nine consecutive months of net outflows. The inflows primarily targeted open-end funds and bond funds, while ETFs and closed-end funds continued to experience net outflows. Notably, funds like TCBF attracted significant inflows, reflecting a shift in preference towards safer assets. View the Detailed Report:   English: https://lnkd.in/gsqy4uu6  Chinese Traditional: https://lnkd.in/gv8Ewvwz  Chinese Simplified: https://lnkd.in/gSDXqB4A    For the FiinPro-X trial or to receive monthly reports, don't hesitate to get in touch with [email protected].  Tel: +84 24 3562 6962 (ext.: 103)  Website: https://lnkd.in/g3kv2enZ 

11

Below is the valuable Feedback from Nguyễn Vĩnh Tùng, CFA, an alumnus of Vietnam Investment Nurturing Hub's Private Equity - Investment Banking Course for Deal-makers (Analyst Level, Cohort 5 and Associate Level, Cohort 2). We are grateful to Tùng for sharing his insights into his experience with the two training programs he attended at Vietnam Investment Nurturing Hub. The effective acquisition and successful application of practical skills from these programs into real-world work scenarios serve as a tremendous source of motivation for Vietnam Investment Nurturing Hub to continue our journey of nurturing a future generation of exceptional investment professionals in Vietnam. We extend our sincere appreciation to Nguyễn Vĩnh Tùng, CFA and all our alumni for their unwavering support. "I had the opportunity to learn from Mr. Vinh in both the Analyst and Associate courses. There were two aspects of the courses that I found particularly valuable: 👉 Financial Modeling Skills: This skill is not part of the CFA curriculum, and my previous work at the bank did not involve this level of financial modeling. As a result, I had not had the opportunity to apply these skills in a practical setting. However, Mr. Vinh's thorough and step-by-step instruction enabled me to develop and implement a financial forecasting model, including balance sheet and cash flow statements. With Mr. Vinh's guidance, I was able to apply these skills to build my own model, although I still need more practical experience to fully refine it. 👉 Financial Analysis Skills: I had gained some experience in analyzing and evaluating companies during my time at the bank. Mr. Vinh's course provided a structured and logical framework for the knowledge and skills related to financial analysis and valuation, and it also gave me new perspectives on how to analyze a company. I was particularly interested in the concept of key drivers, which are the fundamental factors that drive a company's growth. 🔶I feel very fortunate to have taken Mr. Vinh's courses, and I highly recommend them to others. I wish him continued good health and success in inspiring future students."

2

VN Index & macro: FX will likely determine short-term trends In this report, we present the following findings. Stronger GDP growth does not necessarily correlate with a higher VN Index, primarily due to the differing contributions of various sectors to the real economy compared to their impact on the market capitalization of the HSX. For example, while financials contributed only 5.6% to GDP in 3Q24, the sector accounts for nearly 46% of the HSX market capitalization, with banks alone representing 40% of the total. Similarly, the real estate sector comprises 13% of the HSX market capitalization but contributes only 3.3% to GDP from services, with an additional estimated 3.5% possibly coming from construction. One major factor contributing to the market's recent weakness has been continuous net selling by foreign investors, totaling USD2.7bn in 9M24. However, renewed interest from foreign investors – which previously accounted for over 20% of total market transactions, reflected by rising participation rate in HSX to 11.6% in September – can be attributed to Vietnam's impending upgrade to emerging market status. If Cir.68 is implemented effectively, it should address the two remaining criteria – the settlement cycle (DvP) & settlement costs associated with failed trades – allowing for an upgrade during the review periods in March or September next year. Based on event studies of nine EMs, while we expect the VN Index to perform positively before & after the upgrade, the magnitude of the rise may not be explosive. Regarding potential challenges for the VN Index in the short term, we analyze six factors: (1) the Vietnamese NA meetings, (2) the margin lending ratio, (3) SBV's interventions in open market operations (OMOs), (4) FX pressures, (5) the US interest rate cut cycles by the Fed, and (6) the results of the US presidential election. SBV’s recent interventions in the OMOs has been related to FX, which we believe is the most significant factor influencing stock market adjustments in the short term. Statistics reveal that the VNI declined in 11/12 months when the VND depreciated by more than 1% m/m (Figure 1). If Trump wins the US election, we will highly likely need to adjust our USD/VND exchange rate forecast for the end of the year upward, indicating a higher level of VND depreciation. Conversely, if Harris wins, we anticipate that the DXY will cool, allowing the USD/VND to gradually approach our forecast of 24,950 by year-end. We lean towards the scenario where Harris wins, based on the methodology of Professor Lichtman, who has accurately predicted 9 of the last 10 US elections.

74

Vietnam FinTech Ecosystem presents a dynamic landscape with significant growth potential and unique challenges. As a burgeoning market, Vietnam has seen a rapid increase in fintech startups, particularly in the realms of Digital Payments, InsurTech, WealthTech, and Web 3. We are excited to share our 1st draft for 🇻🇳 FinTech Market Map 2024 (the final version should include GenAI & Climate FinTech startups) #fintechvietnam #vietnamstartup #proptechvietnam #vietnamfintech

5

<TMG's subsidy for FinTech company & asset manager> From this April, Tokyo Metropolitan Government has upgraded the Business Establishment & Power Assist Subsidy for FinTech company & asset manager. Please see the main changes for your reference. This action is one of its measures for Promoting Japan/Tokyo as a Leading Asset Management Center. For more information, please check below: ・Business Establishment Subsidy https://lnkd.in/gmC5G5cj ・Power Assist Subsidy https://lnkd.in/gmpbv_uN ・Contact https://lnkd.in/gA7SWfwz (You can change language into English on the website) Invest Tokyo FinCity.Tokyo (東京国際金融機構) #国際金融都市 #資産運用立国 #fintech #assetmanager #subsidy #finance

16

Comprehensive introduction of Tokyo Metropolitan Government for fintech and asset management companies edited by FinCity.Tokyo. FinCity.Tokyo (東京国際金融機構)

2

Temasek Holdings is set to invest up to $30 billion in the U.S. market over the next five years, marking a strategic pivot towards the Americas. This move increases the region's share to 22% of Temasek's portfolio, surpassing investments in China. The focus is on AI, healthcare, financial services, and infrastructure, highlighting the U.S.'s role in technological advancements. Amid geopolitical tensions, Temasek's cautious yet aggressive strategy aims to capitalize on growth opportunities and stable returns. Learn more about this significant investment strategy at https://lnkd.in/g6fsEMny #InvestmentStrategy #Innovation #AI #Healthcare

1

Charter Capital contributions are a key element to establishing a company, with investors having 90 days to meet their financial commitments when starting a company in Vietnam. Where investors do not meet the commitments in full, significant implications, including loss of their investment, can arise. Read our article from Phuong Vo which discusses the need, implications and potential solutions for delays in charter capital contributions: https://lnkd.in/g736JveB Contact Alitium if you would like to discuss any element of charter capital contributions or corporate structures in Vietnam: [email protected] www.alitium.com Follow Alitium on Linkedin for regular posts about business in Vietnam. #Vietnam #Alitium #CharterCapital #Company #Compliance

8

Charter Capital contributions are a key element to establishing a company, with investors having 90 days to meet their financial commitments when starting a company in Vietnam. Where investors do not meet the commitments in full, significant implications, including loss of their investment, can arise. Read our article from Phuong Vo which discusses the need, implications and potential solutions for delays in charter capital contributions: https://lnkd.in/g736JveB Contact Alitium if you would like to discuss any element of charter capital contributions or corporate structures in Vietnam: [email protected] www.alitium.com Follow Alitium on Linkedin for regular posts about business in Vietnam. #Vietnam #Alitium #CharterCapital #Company #Compliance

7

Ata Second Equity Fund (AAV) return beats 95% of its local competitors in the last 5 years: Translated to USD, annualized return of 33% p.a. vs BIST100 TR of 19% p.a. Ata Equity Fund (AAV) continues to perform well. In May, our monthly return in Turkish Lira was 9,4% versus 3,5% in BIST-100 Total Return Index. Year-to-Date, our return is 53,9% in Turkish Lira vs 41,7% in BIST-100 Total Return. In the last 5 years, we rank in the top 5% of all local Turkish stock funds in the Bloomberg universe. Turkish stocks continue to perform well thanks to increasing confidence in new monetary policy which will help bring down inflation rate from as high as 75% to around 40% by year-end. We believe that increasing foreign inflows to Turkish bonds and stocks will continue to improve Turkish Central Bank’s reserves. Our Fund is well-diversified with 35-40 stocks with a tilt for quality growth stocks such as banks and holdings.   Thanks to recent stability in the Turkish Lira exchange rate, our performance in USD terms is stronger in the last 3-5 years than 12 years when Turkish markets went through various macro crises, causing Lira to devalue many times.   Annualized Returns in USD terms:   Last 3 years: Ata Equity Fund: 43,8% p.a. vs BIST-100 Total Return: 27,9% p.a., Alpha: 15,9% p.a. Last 5 years: Ata Equity Fund: 32,8% p.a. vs BIST-100 Total Return: 19,0% p.a., Alpha: 13,8% p.a. Since inception on 16 Nov 2012: Ata Equity Fund: 9,3% p.a. vs BIST-100 Total Return: 1,0% p.a., Alpha: 8,3% p.a.   Best regards from Istanbul, Mehmet Gerz Ata Asset Management: CEO & Fund Manager (AAV) [email protected]

43