Monthly Report August 2011 - PowerPoint PPT Presentation

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Monthly Report August 2011

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Monthly Report August 2011
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Monthly Report August 2011

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  1. Cathay Life (VN) Monthly Report August 2011 Investment, Accounting and Finance 2011.08.26

  2. Contents 1 This month activities 4 3 Market News 2 Business result July 2011 Next month plan

  3. Contents 1 This month activities

  4. 1. Supported auditing tasks that conducted by both Parent auditor & Earns & Young 2. Expenses monitoring to ensure the budget has been implemented strongly. 3. Issuing reminder notice “Customer Services Safety box management ” 4. Getting approval from Tax Dept and Notice to related Dept about “Premium invoice without company seal” Accounting Finance Activities – Engaged projects

  5. Investment Activities Matured Bonds Reinvestment 10yrs TD in VDB, 90BN, 12.2% fixed rate Macro Economic Forecast 2012 GDP: 6.48%, CPI: 9.5%, 10yr bond: 11.6% Fund Management Company Survey Seeking external legal opinions and respond to parent company Planning How to develop Vietnam’s investment 5

  6. Contents 2 Business result July 2011

  7. YTD Jul 2011 Results (VND mil) 114% Apr May Jun Jul YTD

  8. Gross Premium (VND mil) 123% 219% YTD 87.9b 123% YTD budget

  9. Sale expenses (VND mil) 136% 195% YTD 57.2b 136% YTD budget

  10. Premiums / Sale exp. (VND bn) Premium 123% budget Sale Exp. 136% budget Loss 114% budget

  11. Premium trend New Renewal

  12. Administrative expense (VND mil) 95% 108% 95% budget YTD 66.2b

  13. Contents 3 Market News

  14. Updated law New circular, 15/2011/TT-NHNN dated 12 Aug 2011: over USD 5,000 or VND 15 million must be declared to Customs while going abroad.

  15. Market watch Vietnam CPI (%) MOM: 1.17% YOY: 22.16% YTD: 14.61% • CPI YOY reach to highest level since 2008 • Food and foodstuffs was major contribution to CPI • Inflation was forecast at 1% MOM in Aug and gradually decreasing to year end

  16. Trade balance • July trade balance: • Exp ~ $8.4bio, i0.7%m/m • -Imp ~ $8.6 bio, i0.2%m/m • => Trade deficit ~ $0.2 bio • Trade deficit improvement in the last two months resulted from the surge in gold re-export • High trade deficit will perhaps comes back once local gold price equal with world price

  17. FX market • As of 19 Aug: • Official rate: 20.618 • Bank: 20.780 • Black market: 20.800 • FX rate was stable thanks to: • Low trade deficit • Foreign currency forced-selling policy • However, FX rate will perhaps pressure in the coming time due to the rising of gold price

  18. Global market Gold price vs US Stock Market • Debt crisis still threaten global market: • US Government agreed to increase debt limit to $14.3 billion from $12.1 billion • SP downgraded US rating out of highest level to AA+ • World worry about new crisis: • Gold price increased dramatically to 1870 from 1500 in July • US stock market drop 9.5% in Aug

  19. Contents 4 Next month plan

  20. 1. The on-line business trip reimbursement: Working with IT & HR to select the best solutions. 2. Budget 2012 start-up 3. Universal life product: Set-up the accounting process.4. Working with VNpost on Premium Collection Agreement (Cont.) . Accounting Finance Activities – Plans

  21. Investment Plans Enhance Investment Yield Moving money to the highest return assets Maintaining the cash balance at the lowest level Extend Asset Duration Seeking 10yrs bond investment Macro Economic Forecast Preparing stage II forecast: Stock, FX, RE Research and Training Making SOPs of department’s routine tasks 21

  22. THE END