VietNam Holding Limited · LSE:VNH
VietNam — Vietnam: Post-Pandemic Realities webinar (July 2020)
20 slides from VietNam's conference presentation, Jul 30, 2020
Slide 1: Vietnam: Post-Pandemic Realities
Vietnam: Post-Pandemic Realities 30 July 2020 The webinar will start shortly...
Slide 2: Vietnam Holding
Vietnam Holding Wi me
Slide 3: Vietnam Holding Ltd (LSE: VNH) Overview
Vietnam Holding Ltd (LSE: VNH) Overview Closed-end fund Partner owned +8.0%’ p.a. over 10 years c.£80m 5 a Market ca listed on LSE Manager with P Main Market locally based team Vietnam All Share +3.8%™ p.a. Nimble stock selection, actively managed, high-conviction portfolio with integrated ESG 24 ho
Slide 4: Content
Content Vietnam: Post-pandemic realities DYNAM 1. Vietnam: “New normal” after the Covid-19? 2. Vietnam Macro Review: is it a V? 3. VNH Portfolio: A worthy proxy for the Vietnam market 4.Q8&A
Slide 5: Has COVID-19 changed your plans for activities this weekend?
«» Has COVID-19 changed your plans for activities this weekend? Dynam Capital @Capit Now that #COVID19 has been declared a #pandemic, will it change your plans or activities for this coming weekend? Last week 87 percent of respondents thought it wouldn't. 54.4% 45.6% Dynam Capital pitalDyna Jul | ex
Slide 6: New normal after the Covid-19?
Covid-19 New normal after the Covid-19? Cases imported and within + # of cases communities | 200 i 183} ! Only H imported 150 i 140 * So far zero deaths. Cases H imported fro} i * 99 days before latest community infection other countrie: H 100 ! Coses 69 14-day compulsory quarantine. imported H 50 f
Slide 7: Content
Content Vietnam: Post-pandemic realities DYNAM 1. Vietnam: “New normal” after the Covid-19? 2. Vietnam Macro Review: is it a V? 3. VNH Portfolio: A worthy proxy for the Vietnam market 4.Q8&A
Slide 8: 0.4% -3.4% -6.7% -8.4% -12.6% -18.5% -20.0% • •
0.4% -3.4% -6.7% -8.4% -12.6% -18.5% -20.0% • •
Slide 9: Domestic consumption recovered strongly
Vietnam Macro Ke Domestic consumption recovered strongly DYNAM Vietnam retail sales growth dropped during lockdown as expected (monthly % YoY) 15% 10% 5.3% | * Retail sales growth continued to recover in Jun +6.2% MoM 5% and +5.3% YoY, which is very encouraging. -10% -15% -20% -25% -30% Jun-15 Mar-1
Slide 10: FDI disbursement hit 6-month high in June
Vietnam Macro FDI disbursement hit 6-month high in June FDI disbursement remained strong in 6M2020 (USD bn) Monthly FDI disbursement in 6 months 2020 (USD bn) 40 A - 38.0 2.5 Registered FDI = Disbursed FDI 35.9 35.5 35 30 2.0 25 1.5 20 5 1.0 10 5 0.5 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 * FDI r
Slide 11: Trade bounced back
Vietnam Macro Trade bounced back Growth of exports and imports in6M2020 40% 30% 20% 10% 0% Import Growth (%) —@=Export Growth (%) -3.1% 10% -20% * Exports in June increased +9. increased +12.8% MoM. 5% MoM while imports in June + USD6.0bn trade surplus YTD. * Further signs of recovery in early July.
Slide 12: Stable Currency
Vietnam Macro Stable Currency VND has been stable in the last two months 5%—— Thailand MSCIEM ——Vietnam ——China ——Philippines 0% ry 5% pe -10% Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 * The SBV did not have to intervene in the FX market during the last quarters. Source: Bloomberg, GSO Vietnam, Viet
Slide 13: Market is attractively priced post-COVID
Vietnam Equity Market Market is attractively priced post-COVID The Index recovered after the Covid-19 5% ——VNINDEX ——MEXF 0% 5% -10% -15% -20% -25% -30% -35% Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Source: Dynam Capital, GSO, World Bank Valuation is at long term average level after the stro
Slide 14: Content
Content Vietnam: Post-pandemic realities? 1. Vietnam: “New normal” after the Covid-19? 2. Vietnam Macro Review: is it a V? 3. VNH Portfolio: A worthy proxy for the Vietnam market 4.Q8A DYNAM 4
Slide 15: Portfolio by theme: Consumer, Industrialization, Urbanization
Consumer (16.5%) • Industrialization (39.5%) • • • • Urbanization (23.7%) Others (18.4%) Cash (1.9%) • • • • •
Slide 16: Resilience in the face of Covid-19: Digitalization Trend
VNH Portfolio Resilience in the face of Covid-19: Digitalization Trend Digitalization trend Urgent need for digitalization in banks and companies in Vietnam High internet penetration with young population + E-commerce growth more than 30% pa Government supporting mobile money The trend accelerating
Slide 17: Resilience in the face of Covid-19: Multiplier effect from Infrastructure spend
VNH Portfolio Resilience in the face of Covid-19: Multiplier effect from Infrastructure spend Increasing FDI and public investment Strong and stable FDI disbursement following the trend of global production relocation Govt targets a doubling in public investment for 2020 Urgent need for infrastructu
Slide 18: Resilience in the face of Covid-19: Market leaders positioned for the Recovery
VNH Portfolio Resilience in the face of Covid-19: Market leaders positioned for the Recovery Preparing for the recovery * Accumulating high quality assets at better valuation for long term upside potential * Urbanization trend * The increasing popularity of mortgage loans Source: Bloomberg, MSCI, Dy
Slide 19: Content
Content Vietnam: Post-pandemic realities 1. Vietnam: “New normal” after the Covid-19? 2. Vietnam Macro Review: Is it a V? 3. VNH Portfolio: A worthy proxy for the Vietnam market 4.Q8&A DYNAM 19
Slide 20: Disclaimer
Disclaimer DYNAM This presentation relates to Vietnam Holding Limited (the Company’) and has been prepared by Dynam Copital, Ltd. ("Dynam'"). This presentation is for information and discussion purposes only and should not be consideredto be an offer or solicitation of an offer to buy or sell shares
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