|
Tóm tắt:
|
The outlook for Vietnam's rubber sector is very positive. Vietnam is the fifth largest rubber producer in the world, and output has grown at a 12% annual rate over the past six years. The global supply of rubber is limited, while demand is buoyant, especially from Vietnam's main export market China. As rubber prices move with oil prices, we expect an average rubber selling price of over USD3,000 per tonne this year. Our two favourite rubber stocks, Dong Phu rubber (DPR) and Tay Ninh rubber (TNC), are trading at a 2010 PER of just c. 8x and PBR of c. 2x, considerably below most regional sector peers.
|
|
|
|
|