VCSC Daily - Stocks extend rally to fresh nine-year high - DHG, QNS, VCB
DHG: FY17 guidance broadly in line. VND3,500 cash dividend for FY16 and 2:1 bonus share issuance. Proposes FOL lift. DHG disclosed its AGM agenda, guiding for FY17 revenue +15.5%, broadly in line with our forecast while setting a conservative PBT target of VND800 billion (USD35 million, +5.7% vs FY16). We are looking at 10.8% PBT growth for FY17, while we forecast NPAT will grow faster at 12.8% vs FY16, supported by a lower tax rate.