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CNG - High-div-yield based on strong volume growth - Small Cap Research

CNG Vietnam along with its parent company PGS, is a duopoly in Vietnam’s compressed natural gas (CNG) market. CNG’s key clients are firms in the food processing and construction material sectors, which are important drivers of economic growth. Pricing for input and output both fully linked to market price of FO; CNG to enjoy spread and volume growth of 15% and 24% for 2015 and 2016.