At the event (Photo: Internet) Hanoi (VNS/VNA) - The Ministry of Industry and Trade (MoIT) late lastweek transferred the State ownership in Saigon Beer Alcohol Beverage Corp(Sabeco) to the State Capital Investment Corporation (SCIC).
The valuehanded over to SCIC was more than 2.3 trillion VND (99.3 million USD),accounting for 36 percent of Sabeco’s charter capital, or more than 230million shares.
Sabeco hasbecome the first enterprise to complete such a transfer among 14 companiesthat must transfer State capital to SCIC before August 31 according to a primeminister decision issued in June.
Up to now,SCIC has taken over 21.9 trillion VND (945.3 million USD) in State capitalin 1,068 enterprises.
After thetransfer, SCIC will have to divest all State capital from Sabeco inaccordance with the Prime Minister’s decision.
Speaking atthe handover ceremony, Deputy Minister of Industry and Trade Cao Quoc Hung saidthe transfer will not interrupt production or business activities of Sabeco andwill comply with the current regulations.
Meanwhile,SCIC Chairman Nguyen Duc Chi said SCIC would create the best possibleconditions for Sabeco to continue to grow, bringing investmentefficiency to all shareholders, including state shareholders.
Thailand’sThai Beverage Public Co. Ltd. (ThaiBev) currently own 54 percent of Sabecoafter it purchased a majority stake worth 4.84 billion USD from theMinistry of Industry and Trade in December 2017.
After thedeal, the trade ministry held nearly 36 percent of Vietnam’s largest localbrewer by market value.
Otherforeign organisations own 9.71 percent of Sabeco, and the remaining isheld by small shareholders.
In thesecond quarter, Sabeco achieved more than 7.1 trillion VND in net revenue, 1.2trillion VND in post-tax profit, both down by 21 percent compared to the sameperiod last year.
In the firstsix months of 2020, Sabeco’s revenue and profit decreased by more than 30 percentyear-on-year, reaching more than 12 trillion VND and 1.9 trillion VND, respectively.
Thesix-month results show the company fulfilled 51 percent of the annual revenueplan and 59 percent of the annual profit plan.
The VBA saidDecree 100, which took effect on January 1, slapped heavy sanctions oninebriated drivers, leading to plunging sales of booze.
The industryhas suffered again since the beginning of 2020 as the spread of COVID-19 forcescompanies to announce layoffs and stores selling non-essential products arerequested to close./.
The valuehanded over to SCIC was more than 2.3 trillion VND (99.3 million USD),accounting for 36 percent of Sabeco’s charter capital, or more than 230million shares.
Sabeco hasbecome the first enterprise to complete such a transfer among 14 companiesthat must transfer State capital to SCIC before August 31 according to a primeminister decision issued in June.
Up to now,SCIC has taken over 21.9 trillion VND (945.3 million USD) in State capitalin 1,068 enterprises.
After thetransfer, SCIC will have to divest all State capital from Sabeco inaccordance with the Prime Minister’s decision.
Speaking atthe handover ceremony, Deputy Minister of Industry and Trade Cao Quoc Hung saidthe transfer will not interrupt production or business activities of Sabeco andwill comply with the current regulations.
Meanwhile,SCIC Chairman Nguyen Duc Chi said SCIC would create the best possibleconditions for Sabeco to continue to grow, bringing investmentefficiency to all shareholders, including state shareholders.
Thailand’sThai Beverage Public Co. Ltd. (ThaiBev) currently own 54 percent of Sabecoafter it purchased a majority stake worth 4.84 billion USD from theMinistry of Industry and Trade in December 2017.
After thedeal, the trade ministry held nearly 36 percent of Vietnam’s largest localbrewer by market value.
Otherforeign organisations own 9.71 percent of Sabeco, and the remaining isheld by small shareholders.
In thesecond quarter, Sabeco achieved more than 7.1 trillion VND in net revenue, 1.2trillion VND in post-tax profit, both down by 21 percent compared to the sameperiod last year.
In the firstsix months of 2020, Sabeco’s revenue and profit decreased by more than 30 percentyear-on-year, reaching more than 12 trillion VND and 1.9 trillion VND, respectively.
Thesix-month results show the company fulfilled 51 percent of the annual revenueplan and 59 percent of the annual profit plan.
The VBA saidDecree 100, which took effect on January 1, slapped heavy sanctions oninebriated drivers, leading to plunging sales of booze.
The industryhas suffered again since the beginning of 2020 as the spread of COVID-19 forcescompanies to announce layoffs and stores selling non-essential products arerequested to close./.
VNA
