VOV.VN - The process known as equitization in Vietnam is turning government owned enterprises into joint-stock companies with ownership shares possessed by workers or other private sector interests.
Saigon Beer, Alcohol and Beverage Corporation (Sabeco) announced its net profit in the first quarter of 2017 rose 18.8% year-on-year to VND1.12 trillion (US$49.78 million).
The company expects its annual sales to rise 3% against last year.
The National Assembly Standing Committee has issued Resolution No. 344/NQ-UBTVQH14 on disciplinary measures against Vu Huy Hoang, who served as minister of industry and trade in the 2011-2016 tenure.
The first phase of divestment from Saigon Beer, Alcohol and Beverage Corporation (Sabeco) may be pushed back to next year.
After news about Sabeco’s listing was released, its share prices soared by twofold to VND130,000 on the OTC market.
Vietnam's largest brewer Sai Gon Alcohol, Beer and Beverage Corporation (Sabeco), known for its iconic Saigon and 333 brands, has filed a listing application to the HCM Stock Exchange, eight years after its initial public offering in January 2008.
Prime Minister Nguyen Xuan Phuc, who is also Secretary of the Government’s Party Civil Affairs Committee, has issued directions regarding the imposition of disciplinary measures against former Minister of Industry and Trade Vu Huy Hoang.
The Party Central Committee’s Secretariat held a meeting in Hanoi on November 2 to discuss disciplinary measures for the Party Delegation to the Ministry of Industry and Trade in the 2011-2016 tenure and its former Secretary Vu Huy Hoang.
Danish brewery giant Carlsberg is looking to increase its current stake of 17.08% in state-owned Vietnamese brewer Habeco, a senior trade official said at a cabinet meeting on October 29.
Japanese Asahi Group Holdings Ltd., and Kirin Holdings Co. are considering bidding for shares of Saigon Beer, Alcohol and Beverage (Sabeco) in the auction expected to be held next month, according to newswire Nikkei.
Giving into the government’s urging, Vietnam’s two leading beer producers Hanoi Beer, Alcohol and Beverage JSC (Habeco) and Saigon Beer, Alcohol and Beverage JSC (Sabeco) have both registered to list their shares on stock exchanges and received approval.
The Ministry of Industry and Trade (MoIT) issued a decision to establish a steering committee for the sale of shares of two leading brewery companies.
Vietnam's government will list all its shares of top state-owned brewers Sabeco and Habeco on local stock exchanges before considering if any foreign beer makers or other investors can take a controlling stake, a senior government official said.
Certain interest groups trying to prevent Vietnam’s state-owned enterprises (SOE) from listing on the stock market following their privatization are responsible for causing losses to state coffers, a local finance association warned.
The government is striving to receive the best prices and protect Vietnamese brands as it implements its plan of divesting itself from big state-owned enterprises.
The plan to divest State capital from major State-owned enterprises such as Sabeco (Saigon Beer, Alcohol and Beverages Corporation) and Habeco (Hanoi Beer, Alcohol and Beverage Corporation) is good news for the market and will create a more favourable investment environment in Vietnam.
Two companies from Thailand and Singapore, willing to buy state shares in Vinamilk, the nation’s leading dairy producer, belong to one powerful owner.
The 10 biggest state disinvestment deals in the first eight months of the year brought VND7.222 trillion, double the figure in 2015.
The sale of Sabeco, the largest beer manufacturer, and Vinamilk, the largest dairy producer, is expected to bring great opportunities to foreign investors.