Senior personnel change at Habeco, Sabeco stock sets new record

Carlsberg Breweries A/S has introduced its new representative for a vacancy on the Board of Directors of Hanoi Beer, Alcohol and Beverages Corporation (Habeco), aiming to increase its controlling rights.



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Strategic shareholder Carlsberg changes representative on the Habeco Board of Directors



According to newswire Dantri, Carlsberg Breweries A/S, the foreign strategic partner of Habeco, has submitted a document to Habeco to introduce general director of Carlsberg Vietnam Stefano Clini to the Board of Directors of Habeco to replace Soren Ravn, who stopped working at Carlsberg Breweries A/S in late August.

Soren Ravn, Carlsberg Breweries A/S’ previous representative, left the company on August 31, 2017 to spend more time with his family in Malaysia.

Habeco has submitted the documents, including Carlsberg’s proposal, to the Ministry of Industry and Trade (MoIT) for approval.

Previously, Habeco Board of Directors issued a decision to suspend the management rights of general director Nguyen Hong Linh. The decision has been effective since August 21. Ngo Que Lam, deputy general director of Habeco replaced Linh with immediate effect.

Accordingly, Linh will focus on resolving problems related to the state’s divestment from Habeco.

In 2008, Carlsberg became a strategic partner of Habeco by buying more than 17 per cent of the stakes. Carlsberg expressed its interest in buying a further 13 per cent, but the deal yet again hinges on the approval of MoIT.

Carlsberg Vietnam currently ranks fourth on the list of Vietnam’s largest brewers, with a 7 per cent market share, following Habeco with 18 per cent of market share.

Carlsberg intends to turn Vietnam into one of its key Asian markets to cash in on the lucrative local beer market. Along with the plan to increase its holding in Habeco, Carlsberg Vietnam is looking to introduce new product designs to boost its footprint.

Sabeco stock sets new record







After the Ministry of Industry and Trade (MoIT) released information about the volume of the state-owned stake to be divested in Saigon Beer, Alcohol and Beverage Corporation (Sabeco), the value of Sabeco shares flew to a new record of VND263,000 ($11.56) on the September 5 trading session.

With the price of VND263,000 ($11.56) apiece, the capitalisation volume of Sabeco stands at $7.5 billion.

According to newswire Cafef, the reason for the soaring share price may be Ho Chi Minh Securities Corporation's latest announcement that the state will divest 53.59 per cent of Sabeco. The divestment may be implemented through auction.

However, there is no specific information on the divestment schedule. Earlier in mid-July, at MoIT’s monthly press conference, Bui Truong Thang, deputy director of MoIT’s Light Industry Department, said that after receiving approval from Prime Minister Nguyen Xuan Phuc for the plan to sell stakes in Sabeco and Habeco, MoIT would speed up the divestment process to carry it out within 2017.

It is not the first time that Sabeco’s shares set a record value. Previously, on the first transaction day on December 6, 2016, Sabeco’s shares increased by the ceiling set by the Ho Chi Minh City Stock Exchange (HoSE). Notably, from a reference price of VND110,000 ($4.9), the SAB ticker opened the day already at VND132,000 ($5.84), a 20 per cent increase from the get-go. 

After eight transaction sessions, Sabeco’s shares increased to VND211,500 ($9.40), up 92.3 per cent from the launch.

Divesting the state ownership in Sabeco is a hot topic for investors, especially foreigners. To date, several foreign breweries have admitted to eyeing Sabeco since it was earmarked for equitisation, such as San Miguel, Heineken, SABMiller, Thai Beverage Public Company Limited (Thai Beverage), Japanese Asahi Group Holdings Ltd., and Kirin Holdings Co.

Sabeco is the largest brewer in Vietnam. The firm currently owns 24 manufacturing plants with a total designed capacity of 1.8 billion litres per year, 20 of which are in operation, while the remaining four are expected to come into operation in the near future.

VIR

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