Vietnam's prime minister has approved a plan to sell a majority stake in brewer Sabeco, a government committee said in a document seen by Reuters on Tuesday, taking the state-controlled brewer one step closer to a long-awaited sale.
Vietnam has one of the world's most attractive beer markets and the biggest in Southeast Asia, thanks to a young population that consumed nearly 4 billion litres in 2016.
Foreign brewers from Kirin to Heineken have been looking at a possible investment in the maker of the Bia Saigon and 333 brews since it was earmarked for privatisation. But long-stated plans for the government, which still owns about 90 percent, to sell a majority stake have met with repeated delays.
A meteoric rise in Sabeco's share price due to high demand and a small float has complicated matters, making it difficult for industry buyers - including Heineken which already owns a 5 percent share - or other investors to step in.
The stock listed at 110,000 dong but is now trading at around 255,000 dong, a more than 130 percent increase.
The document did not mention a timeline for the sale or how much the government wants to raise.
Sabeco, the country's second-biggest listed firm by market value, is a key plank of a broader privatisation effort, which includes dairy firm Vinamilk, Vietnam Airlines and rival brewer Habeco.
The Vietnamese government also plans to sell a further sliver of Vinamilk, around 3 percent, at 154,000 dong each, higher than the previous estimate, according to a government document seen by Reuters on Tuesday.
The divestment out of Vinamilk, Vietnam's top firm by value, is expected to bring in 7.443 trillion dong (US$328 million) to the state, Vietnam's Steering Committee for Enterprise Innovation and Development said in a statement dated Aug 30.
The State Capital Investment Corp, the government's representative in Vinamilk, said it estimated the stake sale would fetch 6.5-7 trillion dong.
Reuters
Tue Sep 05 2017
Cans of beer move along a production line at a factory of Saigon Beer Corporation (Sabeco) in Hanoi, Vietnam on June 23, 2017. - REUTERS
'Tulisan jawi tiada kaitan Jelajah Perikatan Nasional' - MUDA Kelantan
MUDA Kelantan menegaskan tulisan jawi tertera pada sepanduknya adalah logo rasmi baharu cawangan itu, dan tiada kaitan dengan program Jelajah Perikatan Nasional (PN).
Ops Lebih Muatan: JPJ keluar 126 notis saman, 13 kenderaan barangan dikenakan tindakan
Sebanyak 126 notis saman dikeluarkan JPJ Pulau Pinang terhadap pemandu kenderaan barangan menerusi Ops Khas Lebih Muatan di sekitar negeri ini.
AWANI Ringkas: Bas terbalik di Lebuh Raya Karak
Ikuti rangkuman berita utama yang menjadi tumpuan sepanjang hari di Astro AWANI menerusi AWANI Ringkas.
Lelaki mengaku rogol, cabul anak kandung
Dia didakwa melakukan perbuatan itu di sebuah rumah di Kampung Seri Rahmat, Batu Gajah pada jam 10 hingga 12 malam, Februari lalu.
Piala Uber: Pearly ambil sudut positif jika tidak ke Chengdu
Pearly Tan tidak berasa kecil hati sekiranya beliau dan pasangan M. Thinaah, tidak disenaraikan ke skuad Piala Uber 2024 di Chengdu, China.
Bubur Lambuk Ayam Belanda hidangan istimewa di Kampung Parit Sikom
Istimewa Ramadan 2024, penduduk kampung Parit Sikom, Pontian, Johor menikmati hidangan istimewa, Bubur Lambuk Ayam Belanda, yang diedarkan sebanyak 500 pek .
Penguasaan asas teknologi AI sangat penting untuk pelajar
Penguasaan terhadap asas AI adalah perlu dan penting seiring dengan penguasaan 3M (menulis, mengira dan membaca).
Pasaran saham ST1 positif, dijangka berterusan sehingga H2
Pasaran FBM KLCI mencatat prestasi baik dengan pulangan sekitar 5.7%. Imran Yassin Md Yusof, Ketua MIDF Research, menjangkakan sentimen positif akan berterusan sehingga separuh kedua tahun ini. Sektor cemerlang termasuk utiliti, hartanah, dan pembinaan.
Peningkatan IHPR beri petanda positif kepada perdagangan
Menurut Pengarah Program MBA, Putra Business School (PBS), Prof Madya Dr. Ahmed Razman Abdul Latiff, prestasi Indeks Harga Pengeluar (IHPR) Pengeluaran Tempatan Malaysia yang meningkat pada Februari 2024 menyifatkan pertumbuhan perdagangan berada di tahap yang baik.
Jangan ambil tindakan sendiri, Malaysia ada undang-undang - KPN
Ketua Polis Negara, Tan Sri Razarudin Husain memberi amaran dan peringatan keras kepada orang ramai untuk tidak mengambil tindakan sendiri.