SỞ GIAO DỊCH CHỨNG KHOÁN THÀNH PHỐ hồ CHÍ MINH HOSE báo cáo thường niên annual report 2010

Annual Report
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Annual Report
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Contents
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Part I
About Us & Organization Chart
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MESSAGE FROM CHAIRMAN 9
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MESSAGE FROM CEO 11
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ORGANIZATION CHART 13
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BOARD OF DIRECTORS 14
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THE MANAGEMENT 15
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MANAGERIAL PERSONNEL 16

+2p7ử1**,$2'&+TRADING MANAGEMENT 20
+2p7ử1*48n1/ê7+l1+9,1MEMBER MANAGEMENT 21
+2p7ử1*&1*1*+7+1*7,1INFORMATION TECHNOLOGY 22
+2p7ử1*ửs8*,mAUCTION ACTIVITIES 23
+2p7ử1**,m06m7*,$2'&+TRADING SURVEILLANCE 24
+2p7ử1*+ă37m&48&7INTERNATIONAL CO-OPERATION 25
+2p7ử1*.,062m71,%INTERNAL CONTROL 26
+2p7ử1*7,37+9l48$1+&1*&+1*MARKETING AND PUBLIC RELATIONS 27
+2p7ử1*48n1/ê9l7+t0ử1+1,0<7LISTING MANAGEMENT 28
+2p7ử1*48n1/ê'Âm1PROJECT MANAGEMENT 29
+2p7ử1*1*+,1&83+m775,1RESEARCH AND DEVELOPMENT 30
+2p7ử1*&1*%7+1*7,1INFORMATION DISSEMINATION 31
71++1+*,$2'&+&$1+lửr871Ơ&1*2l,7+(27+m1* 36
MONTHLY FOREIGN TRADING 36
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MONTHLY FOREIGN TRADING 38
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FOREIGN TRADING ACTIVITIES (ORDER MATCHING METHOD) 39
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FOREIGN TRADING ACTIVITIES (PUT THROUGH METHOD) 39
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TRADING PERFORMANCE 40
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TRADING ACTIVITIES BY SECURITIES IN 2010 41
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MONTHLY TRADING ACTIVITIES IN 2010 42
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PUT-THROUGH TRADING OVER YEARS 43
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MONTHLY SUPPLY AND DEMAND OF ORDER-MATCHING TRADING IN 2010 44

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TOP TEN OF HIGHEST TRADING VOLUME IN 2010 45
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TOP TEN OF HIGHEST TRADING VALUE IN 2010 45
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LIST OF ACCOUNTS 2010 46
Trang / Page
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Part I
About Us & Organization Chart
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MESSAGE FROM CHAIRMAN
On be half of the Board of Directors of Hochiminh Stock Exchange (HOSE), along with all Staffs, I would like to send
sincere thanks to managerial authorities at all levels, market participants, as well as local and international partners for
standing side by side with HOSE to reach the year 2010’s targets and do wish to continue receiving your trust and support.
In 2010, the global economy was not in fact stable due to the financial crisis and the debt crisis in Europe. The major
economies fell into high inflation after stimulated growth packages. While Vietnam economy has faced such matters as
inflation, exchange rates and investment efficiency, yet many achievements have been gained in 2010 thanks to efficient
execution of the Government to cope with the negative impacts of the world economy as well as outstanding issues in the
domestic economy. However, the overall picture of Vietnam economy still showed many bright spots such as the economic
growth rate for the whole year is 6.78%; economic scale exceeded US$ 100 billions for the first time; trade deficit and
current account deficit continue to be improved.
Played as a "thermometer" of the economy, stock market has shown a positive trend. If only observing the VN-Index, the
Vietnam stock market seems not to be bright in the region, but it has left a strong impression in terms of capital channel in
financial market. Besides, the leading goal of maintaining a fair, transparent stock market has been obeyed and highly
evaluated through the close control of managerial authorities and HOSE for regulation violations.

The year 2011 is the beginning stage for the Vietnam economy in 2011-2020 with the objective of sustainable development
proposed in The 11th Vietnam Communist Party Congress. It is likely that challenges will remain for stock market;
however, HOSE with the whole endeavor and solidarity of all staffs will surely overcome challenges to make stock market
fair, reliable and transparent, performing its crucial role in the national economy.
ON BE HALF OF BOD
(Chairman)
NGUYEN DOAN HUNG
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MESSAGE FROM CEO
The year 2010 celebrates 10 years of establishment and development of Vietnam’s stock market. It also marks 10 years of
The Hochiminh Stock Exchange’s (HOSE) efforts in fulfilling the mission of operating the market with safety, publicity,
fairness and transparency.
The results have been achieved in the last 10 years in respect of market size and regulatory framework given the country’s
thriving macroeconomy that have laid a foundation for the market’s development and strengthened the trust of local and
foreign investors.
The stock market in 2010 has not attained an impressive growth rate as previous years. The trading volume of 2010 has
reached more than 11 billion securities, equivalent to a value of VND 362,000 million, a 6% rise in volume but an 11% fall
in value compared to those of 2009. The daily average trading value is about VND 1,520 million, with some booming trading
days that went over VND 3,000 million towards the end of the year.
The year 2010 is also an eventful year with listing activities on HOSE. The number of newly listed companies is 75, a
threefold increase from that of 2009. 275 stocks, 5 investment fund certificates and 49 bonds have been officially listed and
traded on HOSE, raising the total listing value to over VND 170,000 million (par value), increased by 47% compared with
2009. IPO activities also made a step forward with IPO value of VND 3,189 million, fivefold as that in 2009.
The year’s market performance shows that the attraction generated by increasing listed securities has no longer been a great

contribution to improving the market liquidity. Also, the attraction that the market benefited from the economic growth,
was overwhelmed by specific obstacles faced by the economy, e.g. inflation and monetary policies. The fact that what used
to be the attractive characteristics of the market are now fading, has presented a new challenge for maintaining the market
appeal. In order to develop further and enhance international competitiveness, the market needs new impulses such as
market structure needs to be revised; trading barriers need to be removed; and advanced services and practices need to be
launched, etc. These are several issues of such great concern for HOSE that we have been relentlessly learning from other
markets, calling for idea input from market participants, and making proposals to regulators.
In the coming stage with many challenges and opportunities, with a determination to grow sustainably based on interna-
tional standards and practices, HOSE will continue its strategic goals to modernize the infrastructure and technology as
well as diversify products and services for the market. HOSE has a faith that with the support from the Ministry of Finance,
the State Security Commission, other regulators, and market participants, together with the consensus among the Manage-
ment Board and staffs, HOSE will continue its role in organizing the bourse safely, publicly, fairly and transparently, and
being an effective fund mobilizing channel for the country’s economy.
Hochiminh City, February 2011
President & CEO
DR. TRAN DAC SINH
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HI ửNG QUnNTR
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P.Nghiờn Cỏu
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Research &
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Dept.

Phú Tìng Giỏm ửệc
Deputy Chief Executive Officer
Phú Tìng Giỏm ửệc
Deputy Chief Executive Officer
Phú Tìng Giỏm ửệc
Thòổng Trọc
Standing Deputy Chief Executive Office
Phú Tìng Giỏm ửệc
Deputy Chief Executive Officer
P.Thụng Tin
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Market
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Tìng Giỏm ửệc
Chief Executive Officer
Ban Kiầm Soỏt
Board of Supervisors
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Part II
Contents
2010
2010
201
2010
0
2010
0

2010
2010
20
2010
2010
2010
2010
2010
2010
01
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2010

2010
2010
2010
2010
TRADING MANAGEMENT
The year 2010 has laid a milestone in the development of the Vietnam stock market. Founded ten years ago, the Vietnam stock market has been seen
with greatly tremendous growth that is far beyond any beginning expectation. Officially opened on July 28th, 2000 with only two stock symbols,
three member firms, and an average daily trading value of VND 70 million/session; at the moment, the Hochiminh Stock Exchange (HOSE) serves as
the trading venue for 329 symbols with daily trading value of trillions of VND per session.
The trading activities in 2010 have remarked with three features:
- The trading time extension: From September 13th, continuous auction period has been extended for 30 minutes more and negotiations for stocks and
fund certificates have been made possible for the whole sessions, instead of only at the after-hour as previously. This adjustment has successfully kept
the market liquidity, given the volatile economy revealed by the instability of monetary market and inflation. Over 250 trading sessions, the total
volume of continuous auction and negotiation has reached 11,849 million, valued at VND 380,686 billion. An average of 47.4 million securities,
valued at VND 1,522 billion, is traded in each session. Compared to 2009, the volume and value increased by 7.2% and decreased by 11.7%,
respectively.
- The VN-Index stability: Different from 2009, the VN-Indexs variation has been relatively stable in 2010. Starting at 494.77 points at the
beginning of the year, VN-Index reached its peak at 549.51 on May 6th 2010, experienced the lowest point at 423.89 on August 25th, and showed
484.66 at the closing session of 2010.
- Foreign inflow has continuously shown positive signs: In a generally stable market, foreign investors regularly purchased stocks with a total net
volume of 270 million securities, valued at VND 15,368 billion (7.9 and 5.6 folds compared to 2009 volume and value, respectively). This demon-
strates the continuous interest of foreign investors in the Vietnam stock market.
The total capitalization value on HOSE as at December 31st, 2010 has reached VND 591,345 billion, 19.4% higher than that of 2009. By the end
of the year, 1,056,000 accounts have been opened at the securities firms, among which 1.31% were of foreign investors.
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2010
MEMBER MANAGEMENT
In 2010, Hochiminh Stock Exchange has granted trading membership to 3 securities companies with total charter capital of VND 461 billion,
bringing the total trading participants at the end of 2010 in HOSE to 102 members, and making the whole charter capital come up to more than VND

33,660 billion.
During the year, HOSE has actively supported its trading participants to engage in online trading, including first time participation and technology
enhancement. As at 31st December 2010, 102/102 trading participants have successfully deployed online trading with HOSE.
In addition, trading participant management activities has continually been improved due to the implementation of Quality Management System ISO
9001:2008. In this year, HOSE has modified Trading Member Regulation and related business procedures towards creating favorable conditions for
monitoring the operations, information dissemination and enforcement on Trading participants who violate the regulations. The monitoring of
members compliance hence will be conducted more frequently and efficiently.
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0ốWKXWKđQKFễQJJéLWKXỳ7KLặWNặJLLSKSFXQJFàSOằSữắWFKX\ầQJLDRKẫWKệQJ&1776*'&.7S+&0ỷYđOáSữQỳ;\
GọQJ7UXQJWPGọSKẽQJWKPKểDỷQKPKLẫQữLKéDKWQJFễQJQJKẫWKễQJWLQFĩD6ốWQJEòỗFữòDFễQJQJKẫFĩDWKẻ
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INFORMATION TECHNOLOGY
After the successful implementation of online trading system in 2009, the Hochiminh Stock Exchange (HOSE) has continued to set new goals for the
year 2010 to further develop information technology systems, and to ensure the legitimate interests of the market participants.
HOSE has always focused on the development of human resources, and professional training for information technology staff; incessantly researched
and implemented solutions on security systems, data security; improved the system of public online information on HOSE website: www.hsx.vn; built
and improved the software to support the trading system as well as online trading management and operation more accurately and faster.
Building a system to receive online reports from the listed companies instead of the sending/receiving text method has helped the information dissemi-
nation activities from listed companies to investors more precise, fast, economical and effective.
Having implemented the Quality management system ISO 9001:2008, the Information Technology Department of HOSE has committed to operate
the trading system, online trading system and networks are 100% effective without mistakes in order to build an secured and safe information
technology system.
Having successfully tendered the "Proposal for the Designing, Procuring and Installing with Technology Transfer a Complete Solution for IT System
- HOSE" and established the project "Building a disaster prevention center" for modernizing the information technology infrastructure of HOSE, and
gradually bringing the technology of Vietnam stock market on par with the region and the world.
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AUCTION ACTIVITIES
In 2010, HOSE has received 41 registration documents for auctions of which 9 auctions have been canceled (since no investors have registered), 11

auctions have been hold successfully while 21 auctions have not. During the year, the total volume of shares/rights offering held at HOSE has
increased 178%, and the total of share value/rights offering has exceeded 657% in comparison with the year 2009.
Auction statistics in 2010 are as follows:
Total number of auctions: 32 (including 11 auctions sold out the offered shares; 19 auctions did not sell out the registered offered shares and 02
auctions did not sell out the rights offering).
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TRADING SURVEILLANCE
The year 2010 has dealed with plenty of challenges for surveillance activities when violation behaviors on securities market have become more compli-
cated and sophisticated. Facing such new increasing challenges, the regulators have revised legal documents on securities and securities market being
stricter, clearer as a necessary stage for a transparent, order, and stable market. Typically, Decree 85/2010/ND-CP on sanctioning administrative
violations in the field of securities and securities market to replace Decree 36/2007/ND-CP putting more deterrence by imposing higher sanctions;
some behaviors such as manipulation and insider trading are also stipulated in Criminal Law. Besides, the surveillance functions of stock exchange
have also been strengthen by Decree 393/QD-UBCK on sending stock exchanges authorization to perform periodic and unscheduled examinations of
their securities members with trading activities. In addition, HOSE has itself developed and promulgated the criteria for detecting abnormal trades
and its parameters to enhance and speed up the monitoring process. In the past year, HOSE had done its best to fulfill the surveillance role and
achieved some noticeable results as follows:
In compliance surveillance, HOSE has detected
192 cases in which key members and affiliated people of listed companies traded without disclosure,
41 cases in which major shareholders traded without reporting at the right time required by law,
14 cases in which investors placed buying and selling orders of a stock or an investment fund certificate in a same trading day,
181 cases in which investors had opened many trading accounts for their own,
04 cases in which listed companies traded treasury stocks against regulation.
In trading surveillance:
Detected 02 manipulation cases,
Additionally, a number of abnormal transactions have been detected and reported to the SSC.
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INTERNATIONAL CO-OPERATION
The year 2010 has been seen as a significant milestone, marking a ten-year-stage of establishment and development of the Ho Chi Minh Stock
Exchange (HOSE) as well as a ten-year-operation of the Vietnam Stock Market. With all efforts to overcome the obstacles, challenges, ups and
downs periods, HOSE has recorded great achievements during the past ten years. HOSE moreover has affirmed its vital role as a motive force in the
Vietnam Stock Market, prided to be one of the key units to make considerable contributions to the development of financial sector in Ho Chi Minh
City in particular, and to the economy expansion of the whole country in general, speeding up the integration of the nation market into global market.
Aiming to incessantly boost up and foster the growth of international co-operation activities, HOSE has exerted to expand its partnerships with other
Stock exchanges as well as international financial institutions. The MOU-signing with the Philippine Stock Exchange Inc. has brought the number
of MOUs to 20. More importantly, HOSE has been upgraded its place from Correspondent to Affiliate of the World Federation of Exchanges

(WFE) since May, 2010. Being an Affiliate of the WFE not only helps HOSE to enhance expertise, but also brings opportunities for HOSE to
develop collaborations with other members.
During the year, HOSE has attended a variety of summit conferences, seminars and workshops such as World Exchange Congress 2010 in Barcelona
Spain; AOSEF General Assembly in Bali Indonesia; International Institute on the Inspection and Oversight of Market Intermediaries hosted by
US SEC; IOMA/IOCA Annual Conference in New York; WFE Annual Meeting in Paris France; Global ETF Conference in Seoul Korea;
ASEAN Finance Ministers Investor Seminar in Kuala Lumpur Malaysia and so forth. HOSE in addition has successfully held the 11th ASEAN
CEOs Meeting in Da Lat regarding to ASEAN Linkage implement.
In coming years, HOSE will actively improve competences, initiatively seek for collaborations, expand world-wide networks in order to gradually
broaden its prestige and widen its cooperations with as many international organizations as possible.
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