Thanh Cong Textile & Garment (TCM VN): Completed 50% FY2024 objectives
The company netted nearly VND139 billion (about USD5.3 million, up +25% YoY) in the first 5 months of 2025, equivalent to 50% target profit, in which May profit was VND29.2 billion (about USD1.1 million, up +9% YoY). By last month, TCM also had enough backlog to achieve nearly 80% target revenue, benefited from an increase in export value of apparel products. Additionally, the company completed its bonus issue of 10% on June 10th. TCM VN closed at VND29,000 per share on 19th June 2025, thus 11.1x P/E and 1.4x P/B.
DIC Corp (DIG VN): An executive Board member submitted letter of resignation
Mr. Bui Van Su – Board member and also Chief Accountant, wants to leave the Board in order to focus on his professional work. He has been recently elected as Director since April 2025 but already had 25 years at DIC Corp. On the other hand, the Board decided to pay stock dividend at ratio of 100:6. It could be followed by a public offering to existing shareholders with 150 million additional shares offered at VND12,000 per share. All proceeds will be used for bond redemption, the 3rd phase of Cap Saint Jaccques project, and the Vi Thanh residential project. DIG VN closed at VND17,350 per share 19th June 2025, thus 57.3x P/E and 1.4x P/B.
TNH Hospital Group (TNH VN): Mekong Capital has secured a seat on the Board
The 2025 AGM elected Mr. Chris Freund (Founder and CEO of Mekong Capital) as new Board member following the nomination from Singapore-based Blooming Earth Pte Ltd. – the largest shareholder with 13.74% interest. He is also a Board member of payday-loan chain operator F88 Investment (F88 VN). Mekong Enterprise Fund IV, managed by Mekong Capital, has owned TNH VN shares since March 2025. The hospital group has been expecting its 10-year low profitability with target net income of VND31 billion (about USD1.2 million, down -30% YoY), despite target revenue of VND620 billion (about USD23.8 million, up +41% YoY). The company has invested heavily on major healthcare projects, including TNH Lang Son Hospital, Thai Nguyen International Hospital (3rd phase), TNH Pho Yen Hospital (2nd phase), and TNH Da Nang Hospital. TNH VN closed at VND16,700 per share on 19th June 2025, leading to 1.4x P/B while P/E was still negative.
Becamex IDC (BCM VN): Stock dividend
The company will pay stock dividend of 11% to its shareholders in Q2 or Q3 this year, meaning that they will receive 11 additional shares for every 100 BCM VN shares owned, and the stock price will be adjusted technically. BCM VN closed at VND59,000 per share on 19th June 2025, therefore 25.2x P/E and 3.1x P/B.
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