April 28, 2016 India and Vietnam have plenty in common. Demographically, they are eerily similar – Vietnam has a median age of 28 years while India’s median age comes in at 27. Both countries have experienced their baby-boomer.
VIC announced mixed FY2015 unaudited consolidated results with an above expectation topline of VND33.8 trillion (+22.0% y/y) even as the bottom line undershot by 62% y/y. SG&A increased given a slew of new product launches and rapid expansion in certain segments including retail. Revenue structure tilting more towards recurring income when residential segment has started new investment cycle which we expect the harvest stage will fall in FY2017.
Vietnam has posted 9 consecutive months of trade surpluses and HSC forecasts that this will continue for the foreseeable future. In our opinion, we are witnessing the historic transformation of Vietnam into a trade surplus nation. This has several key causes; the main cause being the building of an industrial base largely funded by heavy