After acquiring a majority stake in Vietnam’s top brewery, Sabeco, last year, Thailand’s TCC Group is set to appoint a Singaporean chairman, Koh Poh Tiong, and a new board of directors.
Retail goods and services generated revenues of nearly VND1.4 quadrillion (US$63 billion) in the first four months of 2018, a year-on-year rise of 9.85%.
TCC Group (Thailand) unveiled on December 13 its MM Mega Market Thang Long in Hanoi, marking the next step in transforming Metro Cash & Carry Vietnam (Metro Vietnam) to MM Mega Market Vietnam as announced earlier this year.
In an effort to prevent involved parties from evading tax by inaccurately declaring profits from M&A deals, MOF plans to tax one percent on the transfer price, to be applied to businesses, and one percent on income, to be applied to individuals.
Prime Minister Nguyen Xuan Phuc has asked Thailand’s TCC Group, as a big retailer, to create conditions for high-quality goods and agricultural products of Vietnam to be sold in its supermarkets.
he departure of the former owners of Big C and Metro Cash & Carry supermarkets is expected to intensify competition in the retail field.
Fraser & Neave Ltd. (F&N), which is controlled by Thai beer tycoon Charoen Sirivadhanabhakdi, has announced its ambition to acquire more shares in Vietnam Dairy Products Joint Stock Company (Vinamilk) as a part of its plans to expand its presence in Southeast Asia.
TCC Group, which completed the acquisition of Metro Cash & Carry Vietnam in January, recently brought 100 tonnes of Vietnamese dragon fruits to sell at Big C Thailand stores.
Spending billions of dollars in Vietnam, the Central Group is a powerful conglomerate. However, earnings from the business in Vietnam remain in question.
Investors in Big C (BIGC.BK), one of Thailand's largest supermarket chains, cheered on Monday an up to US$3.5 billion deal by France's Casino Group (CASP.PA) to sell its majority holding to TCC Group, owned by whiskey tycoon Charoen Sirivadhanabhakdi.
More than VND1.91 trillion (US$85.1 million) in tax was collected in METRO Group’s sale of METRO Cash & Carry Vietnam, Minister of Finance Dinh Tien Dung said on January 14.
Vietnam’s METRO Group announced on January 7 that Thailand’s TCC Group finalised procedures in the purchase of METRO Cash& Carry Vietnam.