Ho Chi Minh City’s biggest state-owned firm targets 2020 profit at $158.5mln despite crisis

The major shareholder of Heineken Vietnam, operator of Vietnam’s biggest wholesale market Binh Dien, owner of a series of retail chains, and food and beverage firms including Vissan plans 2020 revenue to reach VND20.4 trillion ($876.6 million), an increase of 5% from 2019.

In 2020, the firm plans to increase its budget for investment to VND1,257 billion ($53.8 million), nearly 6 times higher than last year's investment budget.

The company plans to seek approval for the investment project of Tax Plaza in the city’s downtown and 10 additional convenience stores in the city. The company also plans to complete the construction of shopping mall.

In 2019, SATRA recorded VND3,527 billion ($151 million) in pretax profit from VND19.4 trillion ($835 million) in revenue.

The corporation is well-known for its wholesale and retail system including Binh Dien wholesale market, which is considered the largest wholesale market in Vietnam.

It also operates Center Mall, Tax Supermarket, Saigon Supermarket, convenience food chain Satrafoods, chain of petrol stations, Satra Bakery & Café.

Currently, this firm owns nearly 68% of the shares of Vietnam Animal Industry Joint Stock Company (Vissan), the leading fresh meat business in the city.

In addition, SATRA also owns shares in several other companies in the field of food processing including CJ Cau Tre Food Company, Duyen Hai Economic Development Company (Cofidec), Thuy Hai Business Company Produce Saigon (APT) ...

In particular, SATRA holds a 40% stake in Heineken Vietnam, which is considered as the "golden chicken" of this firm for several years.

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