Vinamilk to change ownership ratio of foreign investors

VietNamNet Bridge – The Vietnam Dairy Products JSC (Vinamilk) has not yet announced the plan to change the ownership ratio. However, its major shareholder – the State Capital Investments Corporation (SCIC) – is holding 45.8% of the capital and foreign investors now already have 49%.

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Therefore, if the ownership ratio of foreign investors is relaxed to 100%, the "blank" remained for foreign shareholders in Vinamilk would be only 5.2%,

Vinamilk has announced that it will host the Annual Meeting of Shareholders in 2016 on May 21.

At the meeting, Vinamilk will report to shareholders the change of the ownership ratio of foreign investors.

However, according to the shareholder structure of Vinamilk, the major shareholder SCIC is holding 45.8% of the charter capital while foreign shareholders hold 49%. If at this meeting Vinamilk announces the plan to loosen the rate up to 100%, the "gap" for foreign investors will be only 5.2%.

To pave the way for this plan, Vinamilk has prepared by withdrawing or adjusting business registration in some sectors with limited ownership of foreign investors.

Accordingly, the company's shareholders approved the withdrawal from seven industries including: loading and unloading goods, livestock services, post-harvest services, cultivation services, seed handling, printing and brokerage consulting, auctions of real estate and land use rights.

In addition the company also adjusted the contents of two industries: transport of goods by road and trade of real estate, land use rights.

In 2015 Vinamilk achieved impressive business results with revenues of VND40,223 billion, consolidated after tax profit of VND7,770 billion, up 14% and 28% compared to 2014, respectively. On average, each day, Vinamilk earned VND96, 4 billion in revenues and more than VND21 billion of profit.

US$1 = VND22,300

 

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Nam Nguyen

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