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VCSC Daily - Concerns over dairy tariffs - PMI - FDI - PPC, VNM, KDH

As reported by the domestic media, importers of Anhydrous milkfat (AMF), a crucial material for Vietnam dairy companies, were requested to pay retrospective tariffs for the period of 2010-2015, on the basis that this product was miscategorised and under-taxed. Being Vietnam's leading dairy company, VNM took the first hit, falling 1.6% as investors were concerned over this development (please refer to the write up below). In the end, the VNI down nearly 3 points (-0.5%) to close at 570.41 point