|
Seafood shares: strong and steady wins the race
Despite not being a ‘hot’ market item such as banking, property or tech, seafood stocks are still attractive to investors, particularly foreigners.
Dorothy Sward, an investor in Saigon Securities Inc commented, “I now own a large sum of Agifish (AGF) stock and plan to invest more in the seafood sector early next year. There seems to be good news along with positive results from the listed companies and that is what I look for when putting my money into the market.”
“A long term investor would rather have stability and gradual gains rather than hot short-term jumps. Seafood is not like many other sectors; there are certain advantages to stable and steady growth,” Vu Nhu Chang, an analyst from Small and Medium Enterprises Securities Company (SME Securities), said.
Viet Nam ’s seafood industry has a reputation for its export potential. In a recent report produced by the Ministry of Agriculture and Rural Development, seafood exports in the first ten months of this year amounted to 3.05 billion USD, representing a year-on-year increase of 10.8 percent.
Market listed seafood share-holders will, of course, reap the rewards of this year’s success.
All six listed seafood enterprises have well-known trademarks and are currently undervalued. “The P/E ratio shows that all of them are worth investing in,” said Hoang Hong Anh, another analyst from Ha Thanh Securities Company.
She said profits of the listed companies are on the up and up. Minh Phu Seafood, in the first nine months of this year, earned a profit of 122.3 billion VND (7.6 million USD).
In recent months, several investment funds have been eyeing seafood enterprises. Specifically, Indochina Capital bought 20 percent of BIM Seafood Company based in the coastal province of Quang Ninh .
Moreover, early this year Minh Phu Seafood Company decided to sell a 10 percent stake to Singapore-based Temasek Holdings, making it the strategic partner of the company.
“ Viet Nam ’s seafood industry is drawing more and more attention from both domestic and overseas funds. The prospects bode well for the future,” Anh said.
VNA
|
