Jazz net packages monthly

The Hanoitimes – As of December 31, 2020, the total value of G-bonds reached more than VND1,350 trillion (US$58.55 billion), up 17.39% year-on-year.

The State Treasury of Vietnam raised nearly VND324 trillion (US$14.04 billion) through Government bonds (G-bonds) auctions at the Hanoi Stock Exchange (HNX) in 2020, 8% above the year’s plan.

Vietnam strives to have its government bond included in global recognized bond indices in 2021. Photo: Pham Hung.

Last December, the HNX organized 25 government bonds auctions and received VND53 trillion (US$2.3 billion), up 43.6% month-on-month.

Successful bidders for G-bonds from 10 to 30-year term, however, would have to settle with interest rates of 0.1 – 0.2 percentage points lower than in previous month.

On the secondary market, the total volume of G-bonds sold by the outright method reached over 1.93 billion worth VND213.7 trillion (US$9.26 billion), up 30.38% in value from a month earlier.

Trading volume through repurchase agreements (repos) was more than one billion bonds valued at VND109 trillion ($4.72 billion), increasing 43.66% in value from November and accounting for 33.76% of total transaction value in the market.

Foreign investors did not participate in repos transaction last month, but bought more than VND3.62 trillion ($157 million) worth of G-bonds via outright and sold of VND2.41 trillion ($104.5 million). This resulted in foreign investors being net buyer of VND1.21 trillion ($52.47 million), the largest amount in 2020.

As a result, foreign investors net bought VND3.95 trillion ($171.28 million) of G-bonds in 2020.

The average transaction amount in the G-bond market in 2020 rose by 13.73% year-on-year to VND10.27 trillion ($445.42 million), showcasing “improvements in size and liquidity of the market,” noted the HNX.

As of December 31, 2020, the total value of G-bonds reached more than VND1,350 trillion ($58.55 billion), up 17.39% year-on-year.

Vietnamese G-bond among global recognized bond indices

Head of the Department of Banking and Financial Institutions under the Ministry of Finance (MoF) Phan Thi Thu Hien said for the country’s next five years of 2021-25, Vietnam will need huge capital for development, in which the G-bond is an essential part for the development of bond and financial markets.

“In 2021, Vietnam strives to have its G-bond included in global recognized bond indices such as JP Morgan, Bloomberg Barclays, Citi World Government, aiming to attract foreign investors to Vietnam’s bond market,” Mrs. Hien said.

Under the bond market development roadmap during 2017-20, with vision toward 2030, Vietnam aims for the average increase of trading volume of G-bonds, government-guaranteed bonds and municipal bonds per session at 1% and 2% of the outstanding balance of listed bonds by 2020 and 2030, respectively.

The outstanding balance of the bond market will reach around 65% of GDP by 2030, with the outstanding balance of the market of government bonds, government-guaranteed bonds and municipal bonds to reach about 45% of GDP by 2030, and that of the market of corporate bonds to reach about 20% of GDP by 2030.

Vietnam’s festive staycation the grandest offers of the year (photo: freepik.com)

Park Hyatt Saigon’s festive staycation package

Nothing ordinary ever happens during Christmas and New Year. From now to December 31 (excluding the peak nights of December 24, 25, 31, and January 1), you can experience a special staycation from only VND7 million ($305) per night for two guests, including a VND4 million ($173) credit per night redeemable for all of hotel services, 30 per cent off for spa, a premium bottle of Prosecco upon arrival, daily breakfast for two, and much more.

On Christmas Eve, Christmas Day, New Year’s Eve and New Year’s Day, the hotel celebrates the season with promotions running round the clock and all-day festivities at all outlets. Among them, Le Petit Chef Festive Edition is priced at VND 4,000,000 per guest, excluding beverages. Its Magic At The Park – Holiday Edition organised in the Ballroom on December 13, 20 and 27, pricing from VND650,000 ($28) for 6-12 year olds, VND950,000 ($41) for people over 12, and VND1.2 million ($52) per guest for the premium two front rows. Furthermore, all you need for a cosy and wonderful Christmas season is just one call away. The Pastry Boutique introduces a wide range of artisanal Christmas cakes, sweets, and pastries.

Joyful stay at An Lam Retreats Saigon River

This year, An Lam Retreats Saigon River offers a great combination for Christmas and New Year’s Eve at a special rate from VND8 million ($347) per night for two, including a complimentary roundtrip pickup service, Christmas dinner, New Year’s Eve dinner, music performances, lucky draws, and fireworks by the river. The offer is applicable for a minimum of 2-night stays.

The city resort celebrates Christmas and New Year with special rates on December 24 from VND1.75 million ($76) for adults and VND1 million ($43) per child, including buffet by the river, complimentary round trip transfer, free flow of soft drinks, water, tea and coffee, music, and a special visit from Santa Claus.

Christmas Day lunch by the river is offered for VND710,000 ($30) per adult and VND350,000 ($15) per child, for which you can choose either Western or Vietnamese cuisine. Welcome the new year with a special dinner on December 31, starting at VND2.15 million ($90) per adult and VND1 million ($43) per child, with all the aforementioned perks included, plus a countdown party and stunning fireworks by the river.

Sense of Celebration at Banyan Tree and Angsana Lang Co

Banyan Tree and Angsana Lang Co welcome guests to reconnect with their family and friends and celebrate this favourite time of year with the Sense of Celebration package. When booking a king- or twin-bed Garden Balcony or Sea View Junior Pool Suite in Angsana Lang Co, or the Lagoon Pool Villa or Beach Pool Villa in Banyan Tree Lang Co, guests can enjoy a delightful Christmas and New Year dinner for two valued at $172 in total for a minimum of two nights stay.

The resorts’ Christmas Eve Buffet Dinner on costs from VND2.5 million ($109) per person and will pamper your taste buds with a choice of mouth-watering Western dishes, festive goodies, chocolate yule log, and panettone, along with Asian delights.

A Christmas Day Market at Angsana Central Lawn will be organised where you can enjoy a fun time with your family. Besides a full array of fun-filled games, activities, and snacks, you can shop for traditional products, gifts, regional crafts, as well as explore Vietnam’s lively streetfood delicacies. The market costs VND1 million ($43) per adult and VND500,000 ($22) for children ages 4 to 12.

Exclusivity at An Lam Retreats Ninh Van Bay

An Lam Retreats Ninh Van Bay invites you to a special celebration surrounded by the soothing sound of the ocean. Starting at VND7.5 million ($326) two adults for either Christmas or New Year’s Eve dinner, including breakfast, lunch, a pool party with live DJ, countdown party, and lucky draws, as well as complimentary selected minibar items, roundtrip pick-up service, and many more resort activities. The offer is applicable for a minimum stay of two nights.

Suiten’ Sweet at Sheraton Nha Trang

Sheraton Nha Trang offers a special Suite n’ Sweet promotion, starting from VND2.8 million ($122) a night only, including the benefits that come with a luxury suite with modern amenities and privileges for premium guests, plus a choice of the following benefits: early check-in at 10am or late check-out at 4pm, free welcome amenities in the room, daily breakfast, and club lounge access for two adults and two children under 12 years old, 50 per cent discount on the second room, as well as 20 per cent discount on food and beverages and spa services. Book now until December 31 and stay before January 31 and explore one of five suite types, rating from VND2.8 million ($122) to VND8.3 million ($360).

Fabulous Festivities at Mövenpick Resort Cam Ranh

Spectacular festive activities await you at Mövenpick Resort Cam Ranh. Relax with your family and friends during the night in which all the magic happens. Indulge in a selection of seasonal favourites, like fresh seafood from Cam Ranh Bay. The resort offers Christmas Eve and Christmas Day dinner buffets from just VND780,000 ($34) and VND650,000 ($28) per person respectively. The special Christmas 4-course set menu at the Tropicana Beach Club starts from VND880,000 ($38) per and offers great flavours of fresh seafood from Cam Ranh Bay, including a soup, a starter, a choice for the main course, and mouth-watering dessert. In addition, the resort is planning a wonderful New Year’s Eve at Panorama with its executive chef Andrea and the dedicated culinary team preparing gorgeous festive favourites with 14 different types of dishes. The feast costs VND2.25 million ($98) per person.

Savouring with InterContinental Phu Quoc Long Beach

InterContinental Phu Quoc Long Beach will organise many culinary and entertainment events under the theme “Carnival.” These events include the gingerbread house-building contest hosted by Santa Claus, where children can also enjoy activities such as reading books with him, while the adults indulge in delightful afternoon teas. The resort’s restaurants Sora & Umi, LAVA, and INK 360 will offer the most memorable cuisine, including a 6-course menu with chosen wines, local specialities, cocktails, and much more. In addition, a carnival will be organised on New Year’s Eve, where tourists can enjoy the appearance of clown stilt walkers, street magicians, bubble wizards, and fire dance shows. Events will officially start on December 19 and last until early 2021.

Home away from home at Mövenpick Resort Waverly Phu Quoc

Mövenpick Resort Waverly Phu Quoc’s mission is to present its guests with opportunities to make moments they can treasure for years to come. Thus, the resort offers the perfect harmony between peaceful secluded space and enjoyable socialising with energetic and cosy activities such as the Chocolate Hour, Aqua Zumba, beach parties, and BBQ pool parties. Families can stay in one of 79 villas with delicate amenities, tailored to each of visitors and including butler service, private villa BBQ dinner, and sunset foot massage. The resort made its mark with the astonishing achievement of becoming the first international 5-star resort on Ong Lang beach earning the “Best Luxury Family Resort in Asia” at the 2020 World Luxury Hotel Awards.

Xmas A-la-mood at Pullman Phu Quoc Beach Resort

This festive season, get ready to revel in a tantalising feast of Pullman’s Xmas A-la-mood, featuring a comprehensive menu of premium dishes. The resort’s experience has been enhanced with an extension of traditional festive treats, ranging from roasted turkey with chestnut stuffing to a beloved honey mustard glazed ham. Other menu highlights include local and international favourites, and homemade dessert buffet. From December 24, the warmest and most magical Christmas on the island is happening at Pullman, and you should explore a playful Christmas meal and a gourmet 5-course menu at only VND1.5 million ($65) per person.

Festive Season at Meliá Hanoi

Meliá Hanoi welcomes all who are looking for splendid accommodation, first-class facilities, and warm service. Celebrate the arrival of this holiday season with Meliá Hanoi Christmas Tree Lighting Ceremony and a feast at El Restaurant full of delicious goodies on December 24-31. Christmas Eve Dinner on December 24; Christmas Day Lunch on December 25, and New Year’s Eve Dinner on December 31 are all priced from VND1.28 million ($55) per adult and VND680,000 ($29.50) per child from 4 to 10 years, including a choice of beer or soft drink. Groups from 10 persons are allowed an extra invite for free when booking at least five days in advance.

Great holidays at Pandanus resort

Immerse yourself in Pandanus’ lush tropical gardens adjacent to a white sandy beach. The resort’s holiday package includes a 1-night stay in a spacious Superior Standard room with full amenities, a wide selection of international cuisines, a relaxing luncheon, and a sumptuous barbecue dinner all in the Café Blue Lagoon Restaurant. Guests will be given room upgrades at no additional charge, when available. This promotion will be in effect until the end of February for the unbelievably low price of VND2.44 million ($106) per night for two. If you decide to stay on either December 26 or 31, there will be a small surcharge for your stay.

Christmas and New Year at JW Marriott Phu Quoc

With many elements such as fabulous feasts, royal parties, extraordinary service, and deals that are simply cannot be refused, JW Marriott Phu Quoc Emerald Bay shines as the destination for festive season of Christmas and New year. From VND8.5 million ($370), “Festive Delight by JW” prepare for you and your family unforgettable experiences with luxury accommodation, breakfast for 2 adults and 2 children ages 4-12, Christmas or New Year’s Eve dinner at Tempus Fugit Restaurant, airport transfer, and 20 per cent off on spa treatments.

The Christmas Eve “Christmas Feast for All” at Tempus Fugit restaurant is a luxurious buffet party with rates from VND2.5 million ($109) per person. If guests desire to experience their culinary journey in splendid and impressive atmosphere, then Madam Pearl’s Exclusive Party at the grand Pink Pearl mansion, is the choice to make.

Kick off Christmas at Grand Mercure Danang With the jingle bells ringing and sweet-voiced carols in the air, the best time of the year is coming to town! Streamers of tinsel and glass satin balls are hanging up on Christmas trees where the reunited family shares colourful gifts. Let us get into the holiday spirit with a fabulous staycation right here at Grand Mercure Danang. With its splendid Christmas tree set up for guests and their beloved families, the hotel lights up your holiday with awesome deals right at your fingertips. A delicious welcome drink and a hearty Christmas meal will wait for you, right before the party night to ring in New Year and welcome 2021. Grand Mercure’s Christmas & New Year Treats has got it all wrapped up for you to ensure you experience memories of a lifetime. The festive season starts with the Christmas Wonder Land Buffet Dinner at La Rive Gauche Restaurant on December 24 with the Carol Choir. Starting at just VND1 million ($43), you can enjoy a wonderful Christmas Eve experience at La River Gauche, with complimentary mulled wine, and unlimited servings of draught beer, soft drinks, and water. The hotel also offers an early-bird discount of 10 per cent for all bookings by December 15. Furthermore, the New Year Eve Buffet Dinner at La Rive Gauche Restaurant on December 31 invites you to live music at only VND1.1 million ($47) and features a wide range of gourmet dishes. The buffet also includes unlimited servings of draught beer, soft drinks, and water. Moreover, seafood lovers will enjoy the seafood live cooking station while the hotel’s New Year Cookies and Macaroon Tower will satisfy your dessert cravings. Early-bird discounts at 10 per cent are available for all bookings by December 20. Last but not least, you can enjoy New Year at Nirvana Bar with the Sunshine band, starting at VND400,000 ($17.50), including free-flow sparkling, red, and white wine; selected cocktails; draught beer; soft drinks; and water from 9pm to midnight. A special discount of 50 per cent applies for guests enjoying the New Year Eve Buffet. On the first day of the new year, the hotel’s all-you-can-eat Dim Sum Brunch, priced at only VND490,000 ($21) is offered at Golden Dragon. Aesthetically designed by talented chefs from the Sofitel Macau, the menu showcases over 50 dim sum treats, meticulously hand-crafted dumplings, shumai, fried spring rolls, steamed rice rolls, and much more. Year-End Party by the river at Mia Saigon With the festive season on its way, why not experience something new and riverside at Mia Saigon, and hold your year-end, festive event at the luxury boutique riverfront resort. Less than 15 minutes by speedboat from the city centre, Mia Saigon is an ideal place for any event with an intimate ambiance coupled with sweeping views of the Saigon river. The opulent indoor venue at L’ÂME and the open space of the yard and river deck, as well as the stunning rooftop view under the clear skies at Gin on 8, all ensure an unforgettable experience that will impress every guest. Event menus can be tailored for every occasion. Whether it is a cozy dinner for 10, evening canapés or a lavish year-end party for 300 persons, our year-end menus offer something to suit every taste and promise to leave you satisfied and ready for an evening’s joyful entertainment. With its stunning location, a year-end party at Mia Saigon creates an amazing ambiance with a glorious sunset on the river and beautiful view of the city. You can enjoy the open space, the fresh air, and the clear blue sky at crisp evenings thanks to the cool breeze from the river during these coolest months of the year. Moreover, mouth-watering event menus with daily fresh ingredients, local produce, and premium imported meats can be tailor-made upon request and are executed by our dedicated team who cares about every detail to perfect your feast. Last but not least, Mia’s exclusive accommodation packages will bring you resort-style comfort after an enjoyable party night. The hotel offers complimentary welcome canapés for a group from 30 guests; 10 per cent discount for event guests to enjoy the rooftop bar Gin on 8; complimentary pick-up service by speedboat from Bach Dang Wharf; and attractive pricing options starting from VND900,000 ($39) per person.

JP Morgan, May Bank selected TCB share as the top pick among Vietnam’s listed banks

In a report, JP Morgan has stated that Vietnamese banks offer the best combination of growth and Return on Equity (ROE) in ASEAN. High nominal GDP growth and resilience in the last 12 months provide visibility on credit and earnings growth over the next few years.

In particular, JP Morgan has reiterated its “overweight” rating on Techcombank – Vietnam’s leading commercial lender – with an upbeat outlook on the bank’s performance. The target price for the bank’s share is VND55,000 ($2.4) per share as of December 2021, calculated via JP Morgan’s two-stage dividend discount model.

The rally in the bank’s share price as the top pick among Vietnam’s listed banks is fuelled by multiple indicators.

According to the US-based financial group, Techcombank is the most profitable bank in the country on ROA despite having a low deposit market share of 3 per cent.

Expecting a 16 percent EPS CAGR for the sector, led bay TCB

The bank’s zero-fee programme and 1 per cent cash back debit card have led to sharp improvements in current accounts saving accounts (CASA) and to deposits going from 22 per cent in 2017 to 44 per cent in 2020. The brokerage also expects further improvement in CASA ratio to 50 per cent by 2023, leading to higher net interest margin (NIM).

Specifically, Techcombank has the highest capital (16.1 per cent capital adequacy ratio [CAR]) and lowest NPL (0.5 per cent), allowing for a 20 per cent CAGR for loans over the 2020-2023 period.

Techcombank is also one of the rare banks across the region that is making money on both sides of the balance sheet, as well as on fee income, adjusted for all allocated costs. This allows for longer-term visibility on returns.

Increasing PTs after EPS changes

The lender also rolled out a system to regulate total credit. This is due to a large corporate bond book and a 63 per cent loans-to-assets ratio. Further, high capital and low NPL holdings have allowed credit quotas in the 20 per cent range for the next three years, according to JP Morgan.

JP Morgan also expects the bank to be on a self-sustained capital level, given its combination of solid Return on Equity (RoE) and growth.

Sharing the same boat, Maybank Kim Eng Securities has recently voted Techcombank as Vietnam’s No.1 private-sector bank with a strong brand, deposit franchise, and a solid banking platform for high-profile companies in Vietnam.

The lender is considered the top player in bond underwriting and bancassurance competition, with a high-calibre management and execution team.

On the other hand, Techcombank has maintained consistent, robust profit growth in 2020, up 23 per cent on-year.

“We forecast Techcombank’s profit will grow 26 and 22 per cent in 2021 and 2022, respectively. Accordingly, ROE will improve to 19 per cent, with stronger credit growth and faster-than-expected easing in provisioning bringing about significant upsides,” noted Maybank.

The lender’s strategy is to focus on top private-sector companies, upper SMEs and affluent retail, and is run by a highly capable team. All of these factors enabled it to stay resilient through the unprecedented health crisis.

“Techcombank is now being traded at 1.4x price-to-book value (P/BV) in our 2021 expectation, which is in line with local peers’ average, despite its banking platform, earnings power, and quality being superior. We believe the bank’s robust profit growth outlook on the back of a strong balance sheet, along with improved market sentiment towards the bank’s stock in recognition of the bank’s strengths, will support further rerating,” the brokerage added.

Maybank also recommends investors to buy Techcombank stocks, with higher target price of VND43,700 ($1.9) as of December 2021, up 21 per cent compared to the current price.

The brokerage believes the market’s stronger sentiment towards Techcombank, in recognition of its strengths and improving ROE, will drive up its valuation close to that of industry-leading banks.

Earlier this month, Techcombank is also one of the nine Vietnamese lenders topping the Brand Finance Banking 500 list, with its brand value increasing from 327th in 2020 to 270th in 2021.

Bloomberg recently also stated that Southeast Asian stocks could be safe havens amid the disruption in global risk assets led by spiking yields. Thus, Techcombank – as the most dynamic, profitable bank in Vietnam – is among the best shelters from the global yield havoc.

Techcombank has the highest upside of 42 per cent (followed by ACB with 29 per cent) according to JP Morgan. Analysts also raised target price on resilience observed in 2020. Particularly, JP Morgan raised earning per share for the 2021-2022 financial year and target price for ACB, TCB, and VPB by 8-11