Sabeco held the company’s first meeting on January 12 after the acquisition deal worth US$4.8 billion of Thaibev. For the first time, senior officials from Thaibev have given speech before Sabeco’s staffs.
Sabeco currently has nearly 40% of Vietnam's market.
|
In the coming time, Sabeco’s products will be distributed across Vietnam through retail network consisting of super markets and convenience stores owned by TCC Holdings, said Mr. Koh Poh Tiong, Chairman of Board of Fraser & Neave, a subsidiary of TCC Holdings.
Sabeco will then expand its production under Thaibev’s support for products such as soft drinks and alcohol beverages, Mr. Koh pledged. Outside the Vietnam’s market, Sabeco’s products will then be marketed to Thailand and Singapore through network of hotels under the management of TCC Holdings.
The company is expected to hold the shareholders’ meeting in upcoming month to vote for a new board of directors. With the holding of 53% Sabeco shares, TCC Holdings does not hide its ambition in increasing the number of directors for a board from current 4 to 10.
In 2018, Sabeco set target of increasing the domestic market share to 42% and production of 1.84 billion liters, higher than the last year’s number of 1.78 billion liters, informed the current Sabeco’s Chairman of Boards. Expected revenue in 2018 to reach VND39.3 trillion (US$1.73 billion), and net profit of VND 4.9 trillion (US$217 million), which is translated to the growth rate of revenue and net profit at 11% and 2%, respectively.
Last December, Vietnam Beverage, ThaiBev’s domestic unit successfully bought 53.95% Sabeco stakes. This successful deal has eased off concern from investors and some administrative agencies, showing the positive responses from the market toward determination and effort of the government in respecting market principles and meeting expectation for a transparent business environment.
Sabeco dominates Vietnam’s beer market where its main rivals are Heineken and Habeco, formally Hanoi Beer Alcohol & Beverage, while 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 liters in 2016.
Through previous divestment plans, the government is pursuing diversified ownerships for state-owned enterprises (SOEs). The ultimate goal would be the good service quality, brand, steady stream of revenue and creating jobs. After completing the Sabeco deal, the Ministry of Industry & Trade still have 36% shares at Sabeco. As such, the decision to sell the remaining shares will be considered in the coming time.
