Business Briefs 20 November 2019

20-Nov-2019 Intellasia | | 9:00 AM Print This Post

* Singapore-based firm Platinum Victory Pte Ltd has completed the purchase of 12.6 million shares from shareholders of Refrigeration Engineering Corporation (REE), raising its stake from 24.9% to 28.9%. In late August,Platinum Victory bid for 31.3 million REE shares from current shareholders at VND45,000 per share. The value of the deal is estimated at VND567.2 billion.

* Phu Nhuan Jewelry Company (PNJ) has announced a cooperation deal with Walt Disney, a global media and entertainment company, to use Walt Disney images. PNJ has plans to launch 160 samples of “Find your magic” collection, a Disney-PNJ brand, as part of the strategy to expand to the international market.

* Dutch brewer Heineken is no longer a major shareholder of Saigon Beer Alcohol Beverage Corporation (SAB) after selling over five million SAB shares, bringing its stake in Vietnam’s biggest brewery down to 4.32%. SAB is owned 53.59% by Vietnam Beverage, a subsidiary of Thai beverage company ThaiBev. The Government, represented by the Ministry of Industry and Trade, owns 36% of the company.

* FPT Sofware, a unit of FPT Corporation (FPT), has inaugurated its F-Town 3 office complex at the Saigon Hi-Tech Park in HCMC’s District 9, its sixth campus in the country. The 69,000-square-meter campus has office space, a research and development center, training area, relaxation and entertainment area, cafeteria, kindergarten, and clinic, and can accommodate 7,500 employees.

* Rang Dong Light Source and Vacuum Flask Company (RAL) has asked its shareholders to select Insurance Corporation and Vietnam International Adjuster to evaluate the damage caused by the fire in August at the request of Hanoi City’s police. Shareholders have to register the selection by December 3 and the selection is expected to be completed on December 20. On August 28, RAL’s warehouse in Thanh Xuan District caught fire, resulting in losses of VND150 billion.

* Low-cost carrier Vietjet (VIC) has been awarded the title of Asia Pacific Low-Cost Airline of the Year by the Center for Asia-Pacific Aviation. The award ceremony took place during the CAPA Asia Aviation Summit on November 14 -15 in Singapore.


Category: Business, Vietnam

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