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VIETNAM BUSINESS NEWS MAY 19

VIETNAM BUSINESS NEWS MAY 19
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19/05/2021

10:50
GMT+7
Foodstuff prices rise, pose inflation threat

A supermarket in HCM City. With the costs of materials needed for foodstuffs rising, businesses are finding ways to cut costs so that they can keep prices steady. Photo nhandan.com.vn

Prices of foodstuffs have been increasing due to rising costs of raw materials.
Do Van Khuol, supply director of Saigon Food Company, said the cost of both domestically sourced and imported inputs have risen, including those of rice and seafood, whose output has fallen. ....

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VN tycoon considers major deal, competes with foreign rivals in $10bil market segment

VN tycoon considers major deal, competes with foreign rivals in $10bil market segment
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19/05/2021

16:07
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Masan Group billionaire Nguyen Dang Quang is considering a billion-dollar deal in an area that is Vietnam s strength but has been controlled by large foreign corporations for the past decade.
According to Bloomberg, Masan Group (MSN) plans to raise US$1 billion by selling its shares to strategic partners to invest in animal feed production through its subsidiary Masan MeatLife (MML).
According to this source, Masan is also thinking about organizing an initial public offering (IPO) for the animal feed business of Masan MeatLife, as it believed that Masan MeatLife (MML) is undervalued by the market. ....

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Consortium led by Alibaba, BPEA spends $400mn on 5.5% in retail arm of Vietnam's Masan

Tuesday, May 18, 2021, 14:30 GMT+7
This supplied photo displays Danny Le, CEO of Masan Group.
Masan Group Corporation and a consortium led by Alibaba Group and Baring Private Equity Asia (BPEA)
on Tuesday announced the signing of definitive agreements for the acquisition of a 5.5 percent stake in The CrownX for a total cash consideration of US$400 million.
The CrownX is Masan’s integrated consumer retail arm that consolidates its interests in Masan Consumer Holdings and VinCommerce.
The transaction implies a pre-money valuation of $6.9 billion for 100 percent of its equity, an equivalent of $93.5 per share.
Masan will own 80.2 percent of the company post the consortium’s investment. ....

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Alibaba Leads $400 Million Investment in Vietnam Retail Firm

Alibaba Leads $400 Million Investment in Vietnam Retail Firm
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Norther Bac Giang province remains hotspot of COVID-19 in Vietnam

Norther Bac Giang province remains hotspot of COVID-19 in Vietnam
The northern province of Bac Giang which is close to Hanoi capital, recorded a further 63 out of 85 community infections confirmed by the Ministry of Health (MoH) at noon on May 18.
COVID-19 tests in Bac Giang province (Source: vietnamnet.vn)
According to VOV, The new patients tested positive after having close contact with COVID-19 patients, the MoH said in its noon bulletin update.
They were all detected at Quang Chau, Van Trung and Dinh Tram industrial parks in Bac Giang.
Bac Giang, a gateway to Hanoi capital, has recorded nearly 500 locally transmitted cases, mostly at industrial parks, since the virus recurred in Vietnam in late April. ....

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