Beer product delivery (Photo: VNA)HCM City (VNA) – The Saigon Beer Alcohol Beverage Corporation(Sabeco) appointed a new management board at an extraordinary shareholders’meeting on April 23, following Thai Beverage Public (ThaiBev)’s acquisition ofa 53.59 percent stake in the State brewer last year.
Sabeco Chairman Vo Thanh Ha, who represented the Ministry of Industry andTrade, resigned from his position and three new investors were elected to themanagement board.
Thethree new members include Singaporean national Koh Poh Tiong, Chairman of BeerGroup, which owns a 49 percent stake in the parent company of Vietnam Beverage;Malaysian national Tan Tiang Hing, Malcolm, CEO of Dexcel International; andThai national Sunyaluck Chaikajornawat, who is currently working at WeerawongChinnavat & Partners Ltd.
The extraordinary shareholders’meeting was organised to review personnel matters in the company in response toThai Beverage Public’s query relating to its authority to participate inSabeco’s management board.
In a recent letter sent to the Government,ThaiBev has expressed concern that until now it has not been directly involvedin Sabeco’s management board, even though its ownership here has reached 53.59percent of charter capital.
In a sideline discussion at the Government’smeeting on April 2, Deputy Minister of Industry and Trade Do Thang Hai said the2014 Law on Enterprise stipulates that a shareholder or a group of shareholdersmay officially participate in the company’s board of directors and board ofsupervisors if they own a 10 percent equity or more for at least six months.
In December 2017, ThaiBev, through itssubsidiary Vietnam Beverage Co Ltd, purchased a 53.59 percent share of Sabeco’scharter capital for nearly 5 billion USD through an auction on the HCM StockExchange.-VNA
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