{"id":12418,"date":"2022-03-23T08:58:40","date_gmt":"2022-03-23T01:58:40","guid":{"rendered":"https:\/\/gtjai.com.vn\/?post_type=research&p=12418"},"modified":"2022-03-23T08:58:40","modified_gmt":"2022-03-23T01:58:40","slug":"gtjasvn_hah-equityreport_am-2022-update_mar2022","status":"publish","type":"research","link":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_hah-equityreport_am-2022-update_mar2022\/","title":{"rendered":"GTJASVN_HAH EquityReport_AM 2022 update_Mar2022"},"content":{"rendered":"

Annual meeting 2022 update<\/span><\/strong><\/p>\n

\u2022 Shareholders decided dividend for 2021: cash dividend 1.000\u0111\/share; stock dividend 40%. In 2022, BOD set the revenue plan at 2,387 billion VND, NPAT\u2019s plan 550 billion VND. In Q1\/2022, NPAT is estimated about 150 billion VND (+125% YoY). 50 billion lower compared to Q4\/2021.<\/span><\/p>\n

\u2022 Cash dividend 1.000\u0111\/share; stock dividend 20%.<\/span><\/p>\n

\u2022 ESOP for 2021: 3% of total shares outstanding, issuing price at 10.000 \u0111\/share, limit transfer after 1 year. At this issuing price, cost of ESOP is estimated about 80,000 VND \u2013 90,000 VND\/share, equivalent to 115 billion VND -130 billion VND, approximate 30% 2021 NPAT.<\/span><\/p>\n

\u2022 Vessel investment plan in 2022 \u2013 2024:<\/span><\/p>\n

– Purchase 2 more previously owned vessels in 2022: An Bien Bay (1,708 Teus, deliver in Feb 2022, go for 3 years charter contract at $40,000\/day), Haian City (1,577 Teus, April 2022), total investment of $53 million.<\/span><\/p>\n

– Book building order for 3 new vessels, 1,800 teus, deliver in 2023-2024, total investment of $81 million.<\/span><\/p>\n

– Purchase 2 more previously owned vessel from 1,800-4,500 teus.<\/span><\/p>\n

\u2022 Establish joint venture with ZIM lines, ZIM-Haian, total charter capital of $2 million, operate in intra-Asia route:<\/span><\/p>\n

– 2H 2022: Vietnam \u2013 Malaysia (Port Klang), 2 vessels operating, size of 1.100 TEU each vessel (1rent from HAH, 1 rent from ZIM), NPAT is estimated at 50 billion VND\/year<\/span><\/p>\n

– 1H 2023: Vietnam \u2013 China, 3 vessels operating, size of 1.700 TEU each (1 rent from HAH, 1 rent from ZIM, 1 borrow money from ZIM to invest), NPAT is estimated at 70 billion VND\/year<\/span><\/p>\n

\u2022 Capital raising: BOD is considering 3 options: convertible bond, private offering or, new issuing to current shareholders. The size is estimated about 1,000 billion VND and will be decided by shareholder meeting 2023.<\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"template":"","cate_research":[80],"specialized":[],"class_list":["post-12418","research","type-research","status-publish","hentry","cate_research-bao-cao-doanh-nghiep-en"],"yoast_head":"GTJASVN_HAH EquityReport_AM 2022 update_Mar2022 - GTJA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_hah-equityreport_am-2022-update_mar2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GTJASVN_HAH EquityReport_AM 2022 update_Mar2022 - GTJA\" \/>\n<meta property=\"og:description\" content=\"Annual meeting 2022 update \u2022 Shareholders decided dividend for 2021: cash dividend 1.000\u0111\/share; stock dividend 40%. 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In 2022, BOD set the revenue plan at 2,387 billion VND, NPAT\u2019s plan 550 billion VND. 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