Business

Thaibev denies rumors on selling Sabeco

By Hoai An June 01, 2020 | 02:04 PM GMT+7

Thai Beverage Public Company Limited (Thaibev) has clarified these claims that it is seeking a buyer for its businesses in Vietnam are entirely without merit and confirmed that it has no intention of selling its part in Vietnam in any way.

Thaibev confidents that its businesses in Vietnam will continue to support its dedication to its vision of growth and diversity, and it remains steadfast in its commitment to making Sabeco the pride of Vietnam, it said in the recent announcement.

“As one of the fastest-growing economies in the ASEAN region and the world, Vietnam continues to be one of Thaibev’s core markets and is integral to the company’s goal of becoming a stable and sustainable leader in ASEAN’s beverage industry,” it affirmed.

It will remain fully committed to realizing the full potential of its core businesses in Vietnam, in particular Saigon Beer - Alcohol - Beverage Corporation (Sabeco), and aims to solidify its position as the largest beverage company in Southeast Asia and a leader in beer.

Thaibev’s successful bid for Sabeco shares at the purchase price of VND320,000 per share in 2017 highlighted its confidence in the growth potential of the business and the Vietnamese beer market.

Sabeco has since achieved a 5 per cent increase in net sales in 2018 and continued to deliver a strong performance in 2019, reporting a further 5 per cent increase in net sales and a net profit growth of 22 per cent despite being impacted by inaccuracies and false claims in certain news articles last year.

Thaibev also advised its shareholders to exercise caution and seek appropriate professional advice before dealing in the company’s shares and securities, and refrain from taking any action in respect of their investments which may be prejudicial to their interests.

The rumor of Thaibev appeared amidst Sabeco's poor business operations. In the first quarter of this year, Vietnam's largest beer enterprise recorded net revenue and net profit of VND4,900 billion and VND717 billion, down 47.4 per cent and 44.4 per cent respectively year on year.

The decline in Sabeco's sales is mainly from sales transactions to retailers and distributors which is contributed by Covid-19 pandemic and Decree No.100/2019/ND-CP on administrative sanctions for road traffic and rail transport violations, applicable since January 1, 2020.

Taseco Land’s new logo marks a new growth trajectory

Taseco Land’s new logo marks a new growth trajectory

Business -  4 day

Taseco Land has shifted its listing to HOSE and introduced a new upward-pointing arrow logo - a visual statement of its strategy to raise capital, expand its land bank, and strengthen its standing in Vietnam’s real estate sector

SAP positions Vietnam as key R&D hub with €150 million investment

SAP positions Vietnam as key R&D hub with €150 million investment

Business -  2 week

Located in the heart of Ho Chi Minh City, SAP Labs Vietnam is the second SAP Labs Network hub in Southeast Asia, following Singapore and is one of 20 countries that have SAP Labs globally.

Solar & Storage Live Vietnam returns, leading sustainability and innovation in energy sector

Solar & Storage Live Vietnam returns, leading sustainability and innovation in energy sector

Business -  1 month

Solar & Storage Live Vietnam event has been running since 2017 and the 2025 edition will be the biggest yet.

New alliance pushes ESG standards for Vietnamese businesses

New alliance pushes ESG standards for Vietnamese businesses

Business -  2 month

A new partnership between EY and the Vietnam-Singapore Board Forum (VSBF) is set to strengthen ESG capabilities for Vietnamese businesses, helping shape more sustainable business models.

US giant backs Vietnam’s bid to lead ASEAN gas trade

US giant backs Vietnam’s bid to lead ASEAN gas trade

Business -  2 month

With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.

Frasers Property, SPX Express sign deal for largest sorting centre in Southeast Asia

Frasers Property, SPX Express sign deal for largest sorting centre in Southeast Asia

Business -  2 month

Scheduled for completion in 2027, the logistics facility will be the first of its kind in Vietnam significantly boosting parcel processing capacity up to 7 million parcels daily.