SSI: Masan to benefit from Vietnamese stock market upgrade
Masan Group Corporation (HOSE: MSN) is expected to attract significant foreign capital as Việt Nam’s stock market is projected to receive up to US$1.7 billion from exchange-traded funds (ETFs) following its upgrade to emerging market status.
Masan Group Corporation (HOSE: MSN) is expected to attract significant foreign capital as Việt Nam’s stock market is projected to receive up to US$1.7 billion from exchange-traded funds (ETFs) following its upgrade to emerging market status.
In addition, the Ministry of Finance has eliminated the pre-funding requirement for foreign investors, a key step toward upgrading Việt Nam’s stock market from frontier to emerging status.
The change, outlined in Circular 68/2024/TT-BTC, takes effect on November 2.
A report by SSI Research predicts that Việt Nam's market will be upgraded in September 2025, potentially attracting up to $1.7 billion from ETF funds alone.
Notable stocks likely to benefit from this upgrade include VNM, VHM, VIC, HPG, and MSN, all of which have room for foreign investment.
J.P. Morgan said it favours Consumer Staples stocks, expecting them to benefit from lower input costs and steady earnings growth.
Its report highlights that Việt Nam's economic momentum should positively influence the stock market in Q4 and Q1.
It recommends stocks such as VCB, ACB, TCB, FPT, and MSN. J.P. Morgan values MSN at VND94,640 per share, using a sum-of-the-parts (SOTP) valuation method.
During a recent meeting with investors, a representative from Masan said WinCommerce has achieved after-tax profits for three consecutive months as of August, with like-for-like (LFL) growth for the mini supermarket chain surpassing 10 per cent.
This achievement signifies a milestone in WinCommerce’s retail strategy, as the successful implementation of innovative practices and operational execution has paved the way for sustainable profitability, he added.
Danny Le, CEO of Masan, said: “WinCommerce is entering a phase of profitability, and we anticipate that this trend will accelerate as we continue to deliver like-for-like growth, effectively open new stores, and contribute to the advancement of Việt Nam’s modern trade market in the medium term.”
Recently, Masan Consumer Corporation proposed a supplementary dividend distribution for 2023, recommending a cash dividend rate of 168 per cent (VNĐ16,800 per share).
Previously, Masan Consumer completed its 2023 dividend payments at a rate of 100 per cent in cash.
Specifically, the company disbursed VNĐ3.2 trillion, representing 45 per cent, in August 2023, and VNĐ3.9 trillion, accounting for 55 per cent, in July 2024.
Total dividends received by shareholders from Masan Consumer for 2023 amounted to 268 per cent, or VNĐ19.2 trillion, the highest payout to shareholders since the company’s initial public offering.
In June, Masan received over VNĐ1 trillion in dividends from Techcombank (TCB) and anticipates receiving additional substantial dividends from affiliated companies and subsidiaries throughout the year. — VNS
