The Ministry of Industry and Trade said that the April 23 annual general meeting (AGM) will have the final say on who can manage Sabeco, in response to ThaiBev’s earlier complaint about not having any control at Vietnam's top brewery.
The State Audit of Vietnam has requested the Saigon Beer-Alcohol-Beverage Corporation (Sabeco) pay to the State budget nearly VND2.5 trillion (US$110.9 million) worth of dividends, taken from the brewer’s undistributed profit for the period prior to 2016.
Euromonitor, in its latest report, commented that Vietnam will be the next major battlefield for brewers.
Surfing the first wave of FDI inflows in the early 1990s never seemed enough for ANZ Vietnam. The lender has now chosen to focus all its resources on institutional banking, to continue catering to its clients and leveraging the opportunities arising from the current FDI growth in the country.
Saigon Beer, Alcohol and Beverage Corporation (Sabeco) reported a net revenue of VND10.4 trillion ($442.1 million) and after-tax profit of VND1.37 trillion ($60.3 million) in the fourth quarter of 2017, signifying increases of 17 and 29 per cent, respectively, according to statistics published by Sabeco.
After acquiring 53.56% stake in Saigon Beer, Alcohol and Beverage Corporation (Sabeco), ThaiBev announced plans to sell between 1.85 and 2 billion litres of beer and increase Sabeco’s market share to 50% this year.
The Saigon Beer, Alcohol and Beverage Corporation (Sabeco) produced a total of 1.72 billion litres of beer in 2017 and saw a 11 percent revenue growth year-on-year, said the corporation.
Thai tycoons have been seeking business opportunities in Vietnam's beverage, retail and construction materials markets over the past five years in a bid to take advantage of the country's 95 million population and expanding middle class, according to experts.
Vietnam's stock market is forecast to keep rising in the short term but a few corrections may be necessary to re-balance the market after a long rally.
Many records related to capital transfer affairs were broken in 2017.
The biggest M&A deals were in a variety of business fields, especially the real estate and banking sectors.
The Vietnamese market will see more state-owned enterprises (SOEs) equitised in 2018, following the State’s divestment from the Sai Gon Beer Alcohol Beverage Joint Stock Company (Sabeco) and Vietnam Dairy Products Joint Stock Company (Vinamilk).
Proceeds from the sale of State capital at Saigon Beer-Alcohol-Beverage Corporation (Sabeco) and other State-owned enterprises will be used for the right purposes as approved by the National Assembly.
The list of SOEs (state owned enterprises ) subject to equitization is long with many well-known names.
Out of 19 sectors invested in by foreign firms, processing and manufacturing made up the highest proportion, with US$186.1 billion of registered capital, equivalent to 58.4% of US$318.72 billion of total investment capital accumulated until the end of 2017.
A lucrative beer market with expected high growth rates is the driving force for foreign investors to acquire a stake in Sabeco, the largest Vietnamese brewer.
The Ministry of Industry and Trade (MoIT) on December 18 sold all of its 343.6 million shares or a 53.6% stake of the Saigon Beer, Alcohol and Beverage Corporation (Sabeco), receiving an estimated VND110 trillion (US$4.89 billion).
Analysts have warned that strong brands may disappear once foreign investors buy into Vietnamese companies.
Thai Beverage has emerged as the only investor that intends to buy more than 25 per cent of Vietnam’s leading brewery Saigon Beer.
Sabeco holds the largest market share, but it is Heineken which dominates the Vietnamese beer market.