Why did the prosecution and detention of FLC Chairman Trinh Van Quyet not have a big impact on the stock market this morning?
“If you had to choose one word to talk about the market movements this morning, what word would the guests choose?”, host Ngoc Trinh asked the first question to the guests participating in the program. Money Secrets number 14 with theme April is whose lie?
According to Mr. Pham Do Huy Cuong, Member of the Board of Directors, Chief Financial Officer, An Phat Holdings, the transaction in the market this morning is considered as “positive“after the events of yesterday. The market has stabilized without major fluctuations affecting investors. They felt confident and secure with the current situation.
“Actually, in Vietnam, the shocking information everyone has heard since Sunday, Monday, and affected on the second day, so today everyone is more confident and has no worries or reactions. overreacting“, said Mr. Cuong.
According to MC Ngoc Trinh, it seems that the positivity comes from the steady psychology of investors.
Editorial Hoang Nam assessed that this morning’s session could choose from “transparent“. The events related to FLC show that the market regulator is very strong with cases that affect the reputation and transparency of the Vietnamese stock market. This is a good signal. However, BTV Hoang Nam believes that the market is unlikely to have a strong increase in the near future.
“The market feels very calm, the situation is not the same as in January when the information is almost the same. The market performance in January was quite bad and prolonged, but today the market is quite calm, nothing to panic.”, said Mr. Pham Luu Hung (Mr. X30) – Deputy Director of SSI Securities Investment Advisory and Analysis Center (SSI Research).
Thus, it can be seen that the prosecution and detention of FLC Chairman Trinh Van Quyet actually did not have a big impact on the market this morning. According to Mr. Pham Luu Hung, this story does not have a strong impact on the banking industry, as well as on bank stocks.
“The State Bank’s document on economic stimulus to limit credit in real estate, BOT, and BT is actually available in the annual directive 01 of the State Bank. Credit flows into risky industries have been restricted for many years, not recently.
Regarding the assessment, I have not analyzed it specifically. People often assume that banks are often affected when businesses have stories like the one just now. But actually at the bank, we have to re-evaluate how the amount of collateral assets of businesses to stay in the banks is like, the ratio compared to the loan. If the collateral is good enough, no matter what happens to the business, the bank will be less affected. Not to mention the current bad debt coverage ratio of banks is very high at over 2 times. Therefore, the influence in my opinion is quite limited.” Mr. Pham Luu Hung assessed.
Even this morning, Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) also issued a notice related to the loan of FLC Group Joint Stock Company at this bank.
Specifically, the notice said: Before the information that FLC Group Chairman Mr. Trinh Van Quyet was detained in custody to serve the investigation of stock market manipulation that will affect Sacombank because FLC Group is a customer of In providing credit services at this bank, Sacombank affirms that FLC Group’s loans are law-compliant and safe.
In 2021, Sacombank participated in financing FLC Group including Bamboo Airways to meet the capital needs of customers for business activities.
“This loan is also in line with the Government’s policy on stimulating tourism demand and supporting airlines after the Covid-19 pandemic. Sacombank’s credit extension for FLC Group customers is carried out. comply with the law and internal regulations of Sacombank. Loans have FULL collaterals“, said Sacombank.
Sacombank said that up to now, FLC Group is operating normally and fully and on time fulfilling its debt repayment obligations under the credit contract signed with Sacombank.
By Business and Marketing
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
