VN government to sell stake in country’s biggest brewery

The Government will sell its 36% stake, equivalent to 230.8 million shares worth some VND37.6 trillion (US$1.6 billion), in the Saigon Beer-Alcohol-Beverage Corporation (Sabeco), the country’s biggest brewery, this year.

Sabeco’s Saigon and 333 beer cans on the shelf of a supermarket in HCMC – PHOTO: THANH HOA

The Ministry of Industry and Trade has been asked to transfer the Government’s stake in Sabeco to the State Capital Investment Corporation before August 31.

Early last month, the ministry refuted a rumor stating that it would buy back 53% of Sabeco’s shares from the Thai Beverage Public Company Limited (ThaiBev). In a document sent to the Singapore Exchange on May 29, on which ThaiBev is listed, the Thai investor also confirmed that it is not seeking buyers for Sabeco’s shares.

In late 2017, ThaiBev spent over US$4.8 billion buying 53.59% of Sabeco’s shares from the Ministry of Industry and Trade.

After the deal, Sabeco operated efficiently until the Government issued Decree 100 banning drunk driving, followed by the Covid-19 outbreak, which saw the company’s revenue and profit fall in 2019 and the early months of 2020.

Regarding the business plan for this year, Sabeco expects to generate VND23.8 trillion in net revenue, the lowest since 2012, and VND3.252 trillion in after-tax profit, a year-on-year decrease of 37% and 39%, respectively.

Sabeco is one of the 139 enterprises from which the Government will sell its stake this year, according to VnExpress news site. SGT

Industry-Trade Ministry contradicts rumor about Sabeco share buyback

Industry-Trade Ministry contradicts rumor about Sabeco share buyback

The Ministry of Industry and Trade on June 3 refuted a rumor stating that it would buy back 53% of Saigon Beer, Alcohol and Beverage Corporation's (Sabeco) shares from Thaibev.

 
ThaiBev denies rumors on stake sale of Vietnam’s No.1 brewer Sabeco

ThaiBev denies rumors on stake sale of Vietnam’s No.1 brewer Sabeco

ThaiBev affirms that Vietnam “continues to be one of ThaiBev’s core markets."

 
 

Other News

.
Condotel market faces gloomy prospects
Condotel market faces gloomy prospects
BUSINESSicon  02/08/2020 

 The condotel market has faced a gloomy period due to low absorption rate while inventory has been on the rise, experts said.

Businesses in Hanoi’s Old Quarter shutdown amid COVID-19 fears
Businesses in Hanoi’s Old Quarter shutdown amid COVID-19 fears
BUSINESSicon  02/08/2020 

The Hanoi People's Committee has moved to require all shops throughout Hanoi’s Old Quarter to close as of midnight on August 1 due to fears regarding recent developments relating to COVID-19 epidemic.

Reality and vision for industrial zones
Reality and vision for industrial zones
BUSINESSicon  02/08/2020 

The media have recently featured industrial properties, especially industrial land, as a potential area to attract investment.

Vietnam to develop night-time economy
Vietnam to develop night-time economy
BUSINESSicon  02/08/2020 

Prime Minister Nguyen Xuan Phuc has approved a project to develop the night-time economy in Viet Nam to allow some activities to run overnight until 6am of the next day in some major tourism cities and zones.

Transport service operators begin installing yellow number plates from today
Transport service operators begin installing yellow number plates from today
BUSINESSicon  02/08/2020 

Vehicles that have registered for transport services have started installing yellow number plates with black letters and numbers from today, August 1, instead of the current white plates.

Vietnam needs full market economy: experts
Vietnam needs full market economy: experts
BUSINESSicon  02/08/2020 

 Economists have said Viet Nam would gain many benefits from a full and modern market economy.

Business plans thrown into turmoil amid COVID-19 spike
Business plans thrown into turmoil amid COVID-19 spike
BUSINESSicon  01/08/2020 

Dang Thanh Nga, 40, in Ha Noi called 10 sewers back to work for her garment factory just a few days ago as orders increased last week. 

Mobile World tries different development models, closes some chains
Mobile World tries different development models, closes some chains
BUSINESSicon  01/08/2020 

The Gioi Di Dong (Mobile World) has seen its key brands such as The Gioi Di Dong, Dien May Xanh and Bach Hoa Xanh growing rapidly, but has also had to shut down ineffective business chains.

Startups in HR receive millions in funding despite Covid-19
Startups in HR receive millions in funding despite Covid-19
BUSINESSicon  01/08/2020 

Nearly all businesses are experiencing hardships because of Covid-19. However, this hasn't happened with startups in the HR industry. They are still receiving millions of dollars worth of funding.

Handicrafts find it difficult to catch EVFTA train to $100 billion market
Handicrafts find it difficult to catch EVFTA train to $100 billion market
BUSINESSicon  02/08/2020 

 The EU-Vietnam FTA (EVFTA) is expected to bring more opportunities to Vietnam’s enterprises to export products to the EU. However, it will be not easy for handicraft producers to obtain bigger market share there.

Vietnam to pilot night-time economic activities in 10 major cities
Vietnam to pilot night-time economic activities in 10 major cities
BUSINESSicon  31/07/2020 

The Government has approved a project on night-time economy development in Vietnam which will allow major cities and tourist attractions to pilot night-time services until 6 a.m.

Border trade rules to be tightened
Border trade rules to be tightened
BUSINESSicon  01/08/2020 

Tran Quoc Toan, Deputy Director-General of the Import-Export Department, Ministry of Industry of Trade, talks on Vietnam’s decision to gradually eliminate all temporary import and re-export activities through Vietnam-China sub-border gates.

Businesses endeavour to retain employees
Businesses endeavour to retain employees
BUSINESSicon  31/07/2020 

More than 7.8 million workers lost their jobs in the first half of 2020, putting severe pressure on labour authorities to tackle social security issues.

Booming gold market risky for individual investors: experts
Booming gold market risky for individual investors: experts
BUSINESSicon  31/07/2020 

The recent surge of gold prices may cause risks for individual buyers, experts and analysts have warned.

Vietnam to post world’s fifth-highest economic growth: WB
Vietnam to post world’s fifth-highest economic growth: WB
BUSINESSicon  31/07/2020 

Vietnam is projected to be the fifth highest-growing economy in the world this year and the country has a unique opportunity to increase its footprint in the global economy in both trade and investment, 

Pharma firms uphold fair price mechanisms
Pharma firms uphold fair price mechanisms
BUSINESSicon  31/07/2020 

Amid Vietnam’s upcoming new rules on drug tenders, multinational pharma giants are advocating price negotiation for an open business environment and predictable policies, in order to make sustainable future investments.

Vietnamese goods face tough road to foreign markets due to trade remedies
Vietnamese goods face tough road to foreign markets due to trade remedies
BUSINESSicon  31/07/2020 

With an array of free trade agreements (FTAs) inked and coming into force, countries around the world have also increased technical barriers to protect their domestic industries,

Block 114 – bright spot in offshore exploration
Block 114 – bright spot in offshore exploration
BUSINESSicon  31/07/2020 

Block 114 is located in Song Hong Basin, offshore Vietnam’s northern continental shelf, about 65km from Quang Tri province, and 86km from Da Nang city in the central region.

Vietnam gains $6.5 billion trade surplus in 7 months
Vietnam gains $6.5 billion trade surplus in 7 months
BUSINESSicon  31/07/2020 

Vietnam achieved a trade surplus of $6.5 billion in the first seven months of this year, including $1 billion in July, according to the General Statistics Office (GSO).

M&A activity expected to set new records in post-COVID period
M&A activity expected to set new records in post-COVID period
BUSINESSicon  31/07/2020 

Analysts believe that new records in the number and value of M&A deals will be set in the post-Covid-19 period.

 
 
 
Leave your comment on an article

OR QUICK LOGIN