August 1, 2023 A Phuc Long kiosk in Ho Chi Minh City. Photo by VnExpress/Tat Dat Beverage chain Phuc Long saw revenue in the second quarter falling 14% year-on-year to VND370 billion ($15.63 million), the first decline since it was acquired by retailer Masan Group. Phuc Long’s pre-tax profit declined by a third to VND63…
Jollibee Foods Corporation’s subsidiary SuperFoods, which owns Highlands Coffee, has transferred all of its assets of Vietnamese noodles chain Pho24, in an exit to East-West Restaurant Concepts. The franchise agreement for the operation of Pho24 stores in the Philippines was also terminated. The value of the deal has not been disclosed. (Source: Pho24) Founded in…
Michael Burry is doubling down on investing in farmland. What is one of the hottest and underappreciated assets on Earth this decade? Is it Zoom (ZM), which skyrocketed 500% this year? Or perhaps it’ll be Amazon (AMZN), the king of stay-at-home names already up 72% this year. Surely it must be Moderna (MRNA) or Pfizer…
SINGAPORE/HANOI : Mobile World Investment Corp Vietnam said on Wednesday it has hired an adviser to explore the sale of up to 20 per cent of its Bach Hoa Xanh grocery chain in a deal sources familiar with the matter said would value the business at more than $1.5 billion. “We have chosen an adviser…
The inflation wave that’s sweeping through the global economy is playing into an investment niche that has captivated investor interest and a small group of people in finance have spent years developing: farmland. Agricultural farmland has attracted interest with institutional investors and wealthy families in recent years because returns tend to be stable and weakly…
A consortium led by Chinese e-commerce giant Alibaba will invest $400 million in the subsidiary of conglomerate Masan Group that operates retail chain VinMart. The consortium, including Baring Private Equity Asia, one of the largest private equity firms in Asia, has signed an agreement to acquire a 5.5 percent stake in The CrownX, a deal…
TNB Renewables, a wholly-owned subsidiary of Malaysian utility company Tenaga Nasional Berhad (TNB), will buy a 39% stake in five rooftop solar projects developed by Singapore-based Sunseap Group in Vietnam. The process will be completed by March 2021. Sunseap Group is a clean energy solutions provider in Singapore, with over 300 MW of contracted rooftop…
Vietnam has now effectively overtaken Thailand as the largest solar market in Southeast Asia in terms of installed solar operational capacity, with more than 6,314 MW installed up to September 2020. However, its solar (and other renewable energy) M&A activity has developed very slowly to date. There are many reasons to expect that this is…
