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Masan Consumer readies to trade on UPCoM

Released at: 11:09, 10/11/2016

Masan Consumer readies to trade on UPCoM

Photo: Duc Anh

Procedures almost completed for FMCG giant to trade on UPCoM on an as yet unknown date.

by Quynh Nguyen

Fast-moving consumer goods (FMCG) giant Masan Consumer is completing the final list of its shareholders to prepare to trade on the Unlisted Public Company (UPCoM) market on the Hanoi Stock Exchange.

A representative from the Masan Group confirmed with VET the listing plan but gave no details regarding a listing date. In a report released on November 4 to shareholders, Masan Consumer announced that the final list of shareholders would be finished on November 14.

On November 4 the company ceased all transfer of shares until it trades on UPCoM. After finalizing the list of shareholders it will complete other procedures for registration.

Masan Consumer has charter capital of over VND5.3 trillion ($238.5 million), equivalent to 538.2 million shares, including 18 million treasury shares and 499.9 million shares owned by the parent company Masan Consumer Holdings.

In January this year Masan Consumer Holdings, after receiving a $600 million investment from Thai brewer Singha Asia Holding Pte Ltd, spent more than VND17.4 trillion ($783 million) on acquiring 97.7 million shares of Masan Consumer at a price of VND179,000 ($8) per share.

If it was to trade on UPCoM at this price, Masan Consumer’s market capitalization would be VND93 trillion ($4.15 billion), more than three times the market capitalization of the largest enterprise on UPCoM - the Hanoi Beer Alcohol and Beverage Corporation (Habeco), with VND29 trillion ($1.3 billion).

Masan Consumer is one of the largest enterprises in Vietnam’s FMCG field, with revenue coming from fish sauce, soy sauce, and chili sauce branded Chin-su, Nam Ngu, and Tam Thai Tu, instant noodles such as Omachi and KoKomi, and non-alcoholic beverages such as Vinh Hao, Vinacafe Bien Hoa, and Quang Ninh mineral water.

In the third quarter of this year Masan Consumer recorded revenue of VND3.2 trillion ($144 million), up 9 per cent year-on-year. Gross profit reached VND1.5 trillion ($67.5 million), up 13 per cent, and after-tax profit VND719 billion ($32.2 million).

Revenue for the first nine months was VND9.1 trillion ($409.5 million), up 6 per cent year-on-year, while after-tax profit fell 4 per cent to VND1.68 trillion ($75.6 million). The Masan Group recently announced revenues in the third quarter of VND11 trillion ($495 million) and gross profit of VND3.2 trillion ($144 million), both up 26 per cent year-on-year.

Though financial revenue fell by half the group’s profits from joint ventures increased sharply, with after-tax profit reaching VND1 trillion ($45 million), an increase of 114 per cent year-on-year. Net revenue was VND30 trillion ($1.35 billion) in the first nine months, up 58 per cent year-on-year. Revenue from animal feed reached VND17.5 trillion ($787.5 million), double the figure in the same period last year. Gross profit in animal feed also doubled, to VND3.9 trillion ($175.5 million). Its profit margin remained stable at 22 per cent.

Food and beverages, meanwhile, recorded VND9.7 trillion ($436.5 million) in revenue, up 9 per cent year-on-year, and profit reached VND4.2 trillion ($189 million). Profits from its joint ventures continue to increase and brought in more than VND700 billion ($31.5 million). In the first nine months, after-tax profit was VND2.53 trillion ($113.8 million).

Masan Group was founded in 1996 and is based in Ho Chi Minh City. Its key subsidiaries include Masan Consumer Holdings, Masan Nutri-Science and Masan Resources, while Techcombank is an associate company. The group was listed on the Ho Chi Minh Stock Exchange in November 2009.

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