VinaCapital announces portfolio in Q1

VinaCapital has recently announced portfolio of its member funds including VOF, VNL and VNI in the first quarter of this year.

Till the end of Q1, the total net asset value (NAV) of three member funds reached $1.625 million and the market capitalization at $1.171 million.

The report showed five listed firms being included in the VinaCapital’s priority list including VNM, EIB, HPG, KDH and QCG.

VOF

By the end of March 2011, VOF’s NAV was at $724 million, equaling to $2.23 per fund certificate, continuing to fall compared to $773 million and $2.38 per unit in the end of last December.

The fall of 6.3 percent in NAV was due to the 7.2 percent devaluation of Vietnamese dong on February 11 as well as the tumble of the VN Index.

Accordingly, the VOF’s fund certificate price also plunged to only $1.7 per unit on March 31 after touching the 52-week high level of $2 in February.

This caused the discount of 23.7 percent of the fund’s NAV. By the end of March, VOF’s cash and cash equivalent were $67 million and most of this amount was disbursed in Bluechips and private equity.

Notably in Q1, the fund offloaded its stake into Hanoi Liquor Joint Stock Co (Halico) for Diageo whereby on January 26, VOF sold 23.6 percent stake into Halico for Diageo, earning $51.6 million in cash.

VOF’s portfolio till March 31, 2011

VNL

Till the end of March, 2011, the fund’s NAV reached $1.37 per fund certificate, increasing 1 cent per unit from the end of December 2010.

The fund certificate price slipped slightly to $0.94 by the end of March, after standing at 52-week high of $1 per unit in the end of February 2011.

In Q1, VinaCapial’s total revenue from residential projects reached $20.9 million, increasing significantly from $7.4 million of the same period last year.

VNL’s portfolio till March 31, 2011

VNI

By the end of March, VNI’s NAV was at $214 million, equaling to $0.53 per fund certificate, falling 6.9 percent from $230 or $0.57 per unit by the end of last December.

Also in Q1, VNI signed agreement with Saigon Real Estate Infrastructure and Investment Joint Stock Co (SII) to buy $6.7 million of convertible bonds.

The two-year bonds have the coupon rate of 12 percent per annum.

Also in Q1, another OTC stock held by Nam Viet Oil Refinery and Petrochemicals Joint Stock Co (Nam Viet Oil) announced finalizing the upgrading the capacity from 2,000 barrels to 5,000 barrels per day.

This company, representing for 4.2 percent NAV of VNI, has been licensed to launch oil and gas export and import activities. Currently, Nam Viet Oil plans to list its share by the end of 2011.

Meanwhile, Ba Thien 2 industrial zone project completed the compensation for 65 hectares of land, at the same time, received operation license from the local authority.

Reportedly, this project accounts for about 2.2 percent NAV of VNI with a total area of 308 hectares in the northern province of Vinh Phuc. VNI holds 80 percent in Ba Thien 2 joint venture.

Posted by VBN on May 6 2011. Filed under Stock. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry