TIẾNG VIỆT Thai Beverage says it has no intention to sell Sabeco stakes in Vietnam
Sabeco is holding 41% share of Vietnam’s beer market. Photo: Sabeco
In its second statement about this issue, the Thai company that owns 53.59% stake at Vietnam’s largest beer maker Saigon Beer - Alcohol - Beverage Corporation clarifies that it has no intention of selling its businesses in Vietnam in any way.
On the contrary, the company said it remains fully committed to realizing the full potential of its core businesses in Vietnam, in particular Sabeco and aims to solidify its position as the largest beverage company in Southeast Asia and a leader in beer.
The Company is still confident that its Vietnam businesses 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, 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. The company has been exploring avenues to optimize asset portfolio including potential listing of its beer business in Singapore.
The Company’s successful bid for Sabeco shares at the purchase price of VND 320,000 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% increase in net sales in 2018 and continued to deliver a strong performance in 2019, reporting a further 5% increase in net sales and a net profit growth of 22% despite being impacted by inaccuracies and false claims in certain news articles last year, it stated.
In the first quarter of 2020, Sabeco's revenue dropped by 47% to VND4.9 trillion and after-tax profit fell by 44% to VND717 billion due to double whammy of Vietnam’s drunk-driving law and COVID-19 pandemic.
Sabeco is holding 41% share of Vietnam’s beer market.
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