ICS DEPARTMENT

MBS NEWS

01. MACRO

02. SECTOR

03. CORPORATE NEWS

04. MARKET OVERVIEW

05. INVESTMENT PORFOLIO

25th August, 2025

 MACRO
FDI in Vietnam in 7Ms from 2021 to 2025
VIETNAM
FDI struture by sector in 7M2025 Source: GSO, MBS – ICS dept, Unit: USD billion
FDI
According to the General Statistics Office, the total registered Source: GSO, MBS – ICS dept
foreign investment (FDI) in Vietnam as of July 31 reached 24.09
billion USD, up 27.3% yoy. Of which, newly registered capital
included 2,254 licensed projects with registered capital reaching
10.03 billion USD, up 15.2% yoy in the number of projects and
down 11.1% in registered capital.
The processing and manufacturing industry was the largest with
registered capital reaching 5.61 billion USD, accounting for
55.9% of the total newly registered capital; real estate business
activities reached 2.36 billion USD, accounting for 23.5%; the
remaining industries reached 2.06 billion USD, accounting for
20.6%.
MBS - ICS DEPARTMENT
Singapore is the largest investor with 2.84 billion USD of newly
registered FDI capital, accounting for 28.3% of the total newly
registered capital. MBS - ICS DEPARTMENT
(Source: General Statistics Office - GSO, MBS)
FDI capital executied to Vietnam in 7Ms FDI structure by countries to Vietnam in 6M2025
FDI to Vietnam by year from 2017 to 7M2025
Source: GSO, MBS – ICS dept, Unit: USD billion Source: GSO, MBS – ICS dept
Source: GSO, MBS – ICS dept

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 FINANCE AND ECONOMY EVENTS
Monday Tuesday Wednesday Thursday Friday Saturday
25 Aug 26 Aug 27 Aug 28 Aug 29 Aug 30 Aug
EU: Consumer confidence
Singapore: Industrial of Aug Germany: Retail sales of
Singapore: CPI of July
production of July China: Industrial industry US: GDP Q2 July, Unemployment rate of
US: New house sales of
US: House prices index profit (YTD) Japan: : Industrial August
July
of June production of July and US: PCE index of July
forecast of Aug & Sep
01 Sep 02 Sep 03 Sep 04 Sep 05 Sep 06 Sep

China: PMI
manufacturing of Aug Vietnam: FDI,
EU: CPI of Aug EU: Retail sales of July EU: GDP Q2
Japan: PMI Trade balance of
US: PMI manufacturing EU: PPI of July US: PMI S&P Global of US: Unemployment rate of
manufacturing of Aug Aug
of Aug Aug August
EU: Unemployment rate
of July

08 Sep 09 Sep 10 Sep 11 Sep 12 Sep 13 Sep

Japan: GDP Q2 Japan: : Industrial

OPEC: Monthly report
China: Trade balance of production of July
China: CPI, PPI of Aug EU: Interest rate decision
Aug UK: GDP of July, Trade
US: PPI of Aug of BOE
Germany: Trade balance balance of Jul
US: CPI of Aug
of Jul Germany: CPI of Aug

Nguồn: Investing.com, bnews.vn, MBS – ICS dept

 SECTOR International visitors to Vietnam over the years
(Source: GDOT, MBS – ICS dept, Unit: million visitors)
SERVICES – TOURISM

In July 2025, Vietnam welcomed 1.56 million tourists, up 6.8% MoM, up 35.7% yoy.

In 7M2025, international visitors to Vietnam reached 12.23 million, up 22.5% yoy.

Of which, visitors arriving by air reached 10.4 million, accounting for 85.1% of international visitors and up 23.8%
over the same period last year.
Notably, although it is the low season for international tourism, the number of visitors from the European market
increased by 38%. This is a very positive signal showing the effectiveness of visa policies and a series of
promotional activities of Vietnam in recent times in 6 European countries (France, Italy, Switzerland, Poland,
Czech Republic and Germany).

Vietnam ranked second in terms of international visitor recovery (up 34% compared to 2019) and fourth in terms
of total tourism revenue growth, with 29% yoy. MBS - ICS DEPARTMENT
(Source: General Statistics Office - GSO, General Department of Tourism- GDOT, MBS)
Top 10 international tourist markets to Vietnam in 7M/2025 Number of international visitors to Vietnam by month from Jan 2024 to July 2025
Source: GSO, MBS – ICS dept, Unit: Million visitor Source: GSO, MBS – ICS dept, Unit: Million visitor

MBS - ICS DEPARTMENT MBS - ICS DEPARTMENT

 SECTOR Vehicles used by international visitors in 7M/2025
(Source: GDOT, MBS – ICS dept)
SERVICES - TOURISM

Tourism industry outlook:

In 2025, the number of international visitors to Vietnam will continue to grow due to the following factors:
(1) Vietnam's tourism stimulus programs: visa exemption policy for some countries in Europe, improved
immigration procedures in Vietnam have attracted more international tourists.
(2) FDI continues to attract to Vietnam, so the number of international business visitors to Vietnam will MBS - ICS DEPARTMENT
also continue to increase.
(3) In addition, the recent political instability between Thailand and Cambodia will lead to a number of
tourists seeking safe destinations like Vietnam.
Businesses will have more benefits: Aviation (HVN, VJC, ..), tourism, entertainment, ...
(Source: General Statistics Office - GSO, General Department of Tourism- GDOT, MBS)

Revenue of Vietnam’s Tourism by year from 2015 to 7M/2025 Domestic clients by month from Jan 2024 to Jul 2025
(Source: GSO, MBS – ICS dept, Unit: VND billion) (Source: GDOT, MBS – ICS dept, Unit: million visits)

MBS - ICS DEPARTMENT MBS - ICS DEPARTMENT

 CORPORATE NEWS
Vietnam Container Corporation (Viconship, VSC - HOSE):
On August 21, Viconship finalized the list of shareholders to attend the 2025 Extraordinary General Meeting of Shareholders. In particular, the Company plans to submit to
shareholders an increase in the 2025 pre-tax profit plan from VND 400 billion to VND 1,250 billion, an increase of 212.5% ​compared to the plan approved at the beginning of
the year.

STOCK TRANSACTION OF SHAREHOLDER

VITACO Petroleum Transport Joint Stock Company (VTO – HOSE)

On August 19, two members of the KIM Vietnam fund, KITMC Worldwide Vietnam RSP Balanced Fund and TMAM Vietnam Equity Mother Fund, sold 300,000 and 100,000
VTO shares, respectively, reducing the group’s ownership ratio from 5.09% to 4.58%. Thus, this group of funds is no longer a major shareholder in VTO.

Vietnam Prosperity Joint Stock Commercial Bank (VPBank, VPB - HOSE):

Pham Thi Nhung, Member of the Board of Directors, registered to buy 10 million shares from August 26 to September 24. Before the transaction, Ms. Nhung owned 36.1 million
shares, equivalent to 0.45% of capital. If successful, the holding ratio will increase to 46.1 million shares, accounting for 0.58% of charter capital. With the price of
VND38,650/share at the end of the session on August 21, the transaction value is estimated at VND387 billion. This is the third time Ms. Nhung has increased her ownership in
more than a year.
At the same time, the two daughters of Mr. Bui Hai Quan - Vice Chairman of the Board of Directors of VPBank - Ms. Bui Cam Thi and Ms. Bui Hai Ngan also registered to buy a
total of 40 million VPB shares from August 25 to September 23. Before the transaction, both of them did not hold any shares in the bank. If calculated at the current market
price, the total value of registered purchases could exceed VND1,500 billion.

Southeast Asia Commercial Joint Stock Bank (SeABank, SSB):

Ms. Nguyen Thi Nga, Permanent Vice Chairwoman of the Board of Directors, registered to buy 3 million shares from August 25 to September 23. If successful, her ownership
will increase from 117.1 million to 120.1 million units, equivalent to 4.22% of capital.
In contrast, Mr. Le Tuan Anh, Ms. Nga's son, registered to sell exactly 3 million shares from August 22 to September 19, reducing his holding to 41.5 million units, equivalent to
1.46% of capital.

Quang Ngai Sugar JSC (QNS):

Vice Chairman of the Board of Directors, General Director Vo Thanh Dang registered to buy 1,000,000 shares. The transaction is expected to take place from August 26, 2025
to September 24, 2025.

Song Vang Hydropower JSC (SVH):

Trung Son Power JSC registered to sell 12,747,200 shares. The transaction is expected to take place from September 8, 2025 to October 6, 2025.
 DIVIDEND SCHEDULE
Ticker5 Exchange Ex Dividend date Record date Exercise date Detailed information Event
VOS HOSE 11/09/2025 12/09/2025 10/10/2025 Dividend by cash for year 2024, 1,100 VND/ share Cash dividend

BIC HOSE 09/09/2025 10/09/2025 06/11/2025 Dividend by cash for year 2024, 1,500 VND/ share Cash dividend

BIC HOSE 09/09/2025 10/09/2025 Bonus share with ratio 1000:723 Bonus share

MSB HOSE 08/09/2025 09/09/2025 Dividend for year 2024 by stock with ratio 100:20 Stock dividend

SZC HOSE 04/09/2025 05/09/2025 07/10/2025 Dividend by cash for year 2024, 1,000 VND/ share Cash dividend

SCS HOSE 29/08/2025 03/09/2025 15/09/2025 Dividend by cash for year 2024 (trans 2), 3,000 VND/ share Cash dividend

PAN HOSE 28/08/2025 29/08/2025 15/09/2025 Dividend by cash for year 2024, 500 VND/ share Cash dividend
GAS HOSE 28/8/2025 29/8/2025 25/11/2025 Dividend by cash for year 2024, 2,100 VND/ share Cash dividend
GAS HOSE 28/08/2025 29/08/2025 Bonus share with ratio 100:3 Share bonus

ILB HOSE 28/08/2025 29/08/2025 15/09/2025 Dividend by cash for year 2024, 1,466 VND/ share Cash dividend

SZL HOSE 28/08/2025 29/08/2025 19/09/2025 Dividend by cash for year 2024, 3,000 VND/ share Cash dividend

PHR HOSE 27/08/2025 28/08/2025 26/09/2025 Dividend by cash for year 2024, 1,350 VND/ share Cash dividend

GDA UPCoM 26/08/2025 27/08/2025 Dividend for year 2024 by stock with ratio 100:30 Stock dividend

MIG HOSE 22/08/2025 25/08/2025 15/09/2025 Dividend by cash for year 2024, 500 VND/ share Cash dividend

MIG HOSE 22/08/2025 25/08/2025 Dividend for year 2024 by stock with ratio 100:5 Stock dividend

NAV HOSE 22/08/2025 25/08/2025 08/09/2025 Dividend by cash for year 2025 (trans 1), 800 VND/ share Cash dividend

NTC UPCoM 22/08/2025 25/08/2025 25/09/2025 Dividend by cash for year 2024, 6,000 VND/ share Cash dividend
Sources: VSD, MBS, Vietstock
 MARKET OVERVIEW
COMMODITY AND MONEY MARKET
Gold prices in the world in recent 6 months
Commodity market Source: Platts Metals Week; International Monetary Fund, Unit: USD/toz
Source: IFM, Worldbank, MBS – ICS dept

Price
Items DoD (%) YTD (%) Unit
(USD)
Gold 3,371.10 0.98% 28.5% Ounce

Iron ore (62%Fe) 101.42 -0.15% -2.1% Dmtu

WTI Oil 63.66 0.28% -11.5% Barrel

Brent Oil 67.81 0.31% -9.2% Barrel

Money market
Source: Investing.com, MBS – ICS dept USD/VND Exchange rate updated to 22 Aug 2025
Source: MarketWatch.com
Exchange
DoD (%) YTD (%)
rate
DXY 97.655 -0.96% -10.7%
USD/VND 26,350 -0.31% 3.4%
USD/JPY 146.92 -0.86% -6.3%
USD/CNY 7.1656 -0.21% -1.8%
EUR/USD 1.1719 0.85% 13.2%
GBP/USD 1.3501 0.54% 7.9%
 MARKET OVERVIEW
GLOBAL STOCK MARKET DATED 22 August 2025
Markets Index Values Point (+/-) +/- DoD +/- 1 Month +/- 1 Year US stock market
Vietnam VN-Index 1,645.47 -42.53 -2.52% +7.47% +28.02% On August 22, the US stock market increased sharply and Dow Jones set a new
record after Fed Chairman Jerome Powell signaled a rate cut in September.
Vietnam VN30 1,814.02 -60.89 -3.25 % +11.42% +37.67%

Vietnam HNX 272.48 -11.91 -4.19% +7.04% +13.50%

US Dow Jones 45,631.74 +846.24 +1.89% +1.63% +10.82%

US S&P 500 Index 6,466.91 +96.74 +1.52% +1.23% +14.77%

US Nasdaq Composite 21,496.54 +396.23 +1.88% +1.84% +20.24%

EU EURO STOXX 50 5,488.23 +26.07 +0.48% +2.54% +11.79%

UK FTSE 100 UKX 9,321.40 +12.20 +0.13% +2.20% +11.93%

Germany DAX 24,363.09 +69.75 +0.29% +0.60% +30.75%

Asia pacific MSCI AC 212.63 +1.35 +0.64% +2.05% +14.64%

Vietnam Stock market
China SHCOMP Index 3,825.76 +54.66 +1.45% +6.46% +34.03% VNIndex reached 1,645.47, down -42.53 points (-2.52%).
Market liquidity reached VND68,696 billion, up 21.41% compared to the previous session and up
Japan Nikkei 225 42,633.29 +23.12 +0.05% +2.84% +11.13% 17.43% compared to the 10-day average.
Foreign investors net sold VND1,506.11 billion, focusing on HPG, VPB, STB, OIL, VNM...
Korea KOSPI Index 3,168.73 +26.99 +0.86% -0.85% +17.29%

HongKong Hang Seng Index 25,339.14 +234.53 +0.93% -0.19% +43.87%

Singapore STI Index 4,253.02 +22.12 +0.52% -0.19% +25.53%

Malaysia FBMKLCI Index 1,597.47 +4.60 +0.29% +4.15% -2.34%

Thailand SET Index 1,253.39 +8.60 +0.69% +2.98% -7.49%

Indonesia JCI Index 7,858.85 -31.86 -0.40% +4.18% +4.17%

Philippines PCOMP Index 6,281.58 +3.71 +0.06% -2.05% -9.77%

Taiwan TWSE Index 23,764.47 -197.66 -0.82% +1.71% +7.25% Sources: Bloomberg, TradingView, MBS
 MARKET OVERVIEW
VIETNAM STOCK MARKET
Foreign investor transactions from June 16, 2025 to Aug 22, 2025 Top 10 stocks bought/sold by foreign investors on Aug 22 2025
(Source: Investing.com, MBS – ICS dept, Unit: VND billion) (Source: Investing.com, MBS – ICS dept, Unit: VND billion)

MBS - ICS DEPARTMENT

MBS - ICS DEPARTMENT

Total market transaction value from 23 Jun 2025 to 22 Aug 2025 Transaction value of the proprietary trading from Jun 23, 2025 to Aug 22, 2025
(Source: Investing.com, MBS – ICS dept) (Source: Investing.com, MBS – ICS dept, Unit: VND billion)

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 PORTFOLIO

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Nguyen Thi Quynh Thong, Olwena Trader Trader Trader Trader
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