Vietnam Securities Introduction

Slide 2: 

Contents Economics outlook Stock market development & opportunities About IRS

Slide 3: 

Economics outlook A combination of rapid economic growth and highly favorable demographics Having major export growth drivers Significant legal and regulatory reforms Political and social stability

Slide 4: 

Rapid GDP growth & favorable demographics Sources: UN World Population Prospects (2004) & IRS

Vietnam has entered a period of sustainable high growth- Sustained high growth rates, second only to China in the region- GDP growth exceeded 8% in 2006, after five consecutive years of growth above 7% p.a : 

Vietnam has entered a period of sustainable high growth- Sustained high growth rates, second only to China in the region- GDP growth exceeded 8% in 2006, after five consecutive years of growth above 7% p.a

Slide 6: 

Vietnam has entered a period of sustainable high growth

Slide 7: 

Vietnam has entered a period of sustainable high growth

Sources: General Statistics Office of Vietnam, CEIC : 

Major export growth drivers Sources: General Statistics Office of Vietnam, CEIC

Slide 9: 

Legal and regulatory reform Passage of the Enterprise Law (2005), Common Investment Law (2005) & Securities Law (2006) Reform of State Owned Enterprises Reform still continues with WTO accession

Slide 10: 

Legal and regulatory reform

Slide 11: 

Political and social stability Political Risk Ratings Social Unrest Ratings Sources: World Bank

Slide 12: 

Stock market development

Slide 13: 

Stock market development

Slide 14: 

Stock market development

Slide 15: 

Listed Markets 2 trading centers: HOSTC and HATSC 271 listed companies with market cap of US$28 billion, account for about 40% of GDP, up from 32 listed stocks and market cap of US$600 million at the close of 2005 Total daily trading volume of US$60 –US$80million The foreign investment capital in stock market is about 4,5 billion USD Growth factors Final phase of Privatization of SOEs Listing of private companies Restructuring, listing of FDI enterprises

Slide 16: 

Largest Market Capitalization HOSE HASTC

Slide 17: 

OTC Market Market trading for unlisted joint stock companies Approximately 2.700 unlisted companies which up to 50 traded regularly Growth in OTC market over the next five years expected to come largely from SOEs Major state privatizations of large SOEs in banking, insurance, telecom, transportation and consumer goods expected to begin mid 2007 and continue through 2008 and 2009 Vietcombank - Banking Techcombank – Banking Eastern Asia Bank – Banking Eximbank – Banking Military Bank – Banking Habubank – Banking Vinaconex – Construction Hoang Anh Gia Lai – Real Estate… Saigon Real Estate Tay Ninh Rubber – Rubber Dong Phu Rubber – Rubber Mai Linh Group – Transportation Traphaco - Pharmacitial Vietnam Shipping Company _ Transportation Binh Thuan, Da Nhim, Thac Mo hydro Power Plant - Utilities

Slide 18: 

The Investment Opportunities Listing Equitization Source: General Statistics Office

Slide 19: 

Remarkable IPO Companies

Slide 20: 

About IRS Royal International Securities Corporation (IRS) Operating License granted by the State Securities Committee on 6 July 2007 Registered Capital: VND135 billion Head Office: 30 Nguyen Du Street - Hanoi - Vietnam

Slide 21: 

Our Vision & Mission To build the high quality professional service local brokerage firm in Vietnam To maximize shareholders’ value by providing customers with the best services and highest quality products To invest on people and technology

Slide 22: 

Our Strategy Client / partner strategy: client-oriented and corporate Product/service strategy: diversified and professional Personnel strategy: motivative and humanistic Technology strategy: modern and compatible Capital strategy: solid and grown

Slide 23: 

Our Services Brokerage services Investment Advisory services Custody services Corporate Finance Advisory services: underwriting, equitization, privatization, issuance, listing,…

Slide 24: 

Our People We are a team of professional staff who have in-depth knowledge and experiences in finance, banking, accounting, auditing, legal and corporate governance. 8 staff members hold Master degree in Banking and Finance, Economic Development and Information Technology 29 staff members hold Bachelor degree Business, Finance and Information Technology

Slide 25: 

Our Core Team Mrs.Nguyen Thi Thu Hang – General Director, 37 – MA in Banking and Finance - 14 years experience in Banking and Finance sector – ABN AMRO, Citibank, HSBC Vietnam Mrs.Nguyen Ha Thanh – Deputy General Director, 34 – MA in Economics - 8 years experience in Banking and Finance – May Bank, Citibank Mrs.Nguyen Thanh Tam - Deputy General Director, 30 – BA in Banking and Finance – 7 years experience in Banking and Finance – Citibank Mr.Nguyen Le Huy – Deputy General Director, 30 – MA in Banking and Finance/CPA – 7 years experience in Auditing and Corporate Finance Advisory

Slide 26: 

Our Core Team (con’t) Mr.Ha Trung Hieu – Head of Investment, 30 – BA in Finance/CFA – 7 years experience in Accounting, Finance and Investment – Citibank, Indochina Capital Mr.Ho Duc Thang – Head of Operation, 31 – MA in Banking and Finance – 8 years experience in Banking and Finance– VID Public Bank, Citibank Mr.Bui Duc Thinh – Investment Analyst, 31 – MA in Economic Development – 7 years experience in Banking and Finance – VID Public Bank, Standard Chartered Bank Mr.Bui Ngoc Long – Relationship Manager,31 – BA in Economics – 7 years experience in Insurance, Sales and Marketing – AON Corporation

Slide 27: 

Our Strength We have an knowledgeable and experienced B.O.Ds We have an in-depth relations with a large number of institutions and corporations An pro-active and well-trained staff Flexible and compatible mechanism

Slide 28: 

Our Values High quality and distinguished services Solid financial base Knowledgeable, experienced and skillful staff

Slide 29: 

Contact Royal International Securities (IRS) Address: 30 Nguyen Du, Hanoi, Vietnam Tel: 84-4-944 6666 Fax: 84-4-944 6969 Email: moigioi@irs.com.vn Website: www.irs.com.vn

Slide 30: 

Foreign Investment in Vietnam