Sabeco backs startup with VND10 million By Tam An HCMC – Saigon Beer JSC, the newest member company of Saigon Beer, Alcohol and Beverage Corporation (Sabeco), was established on July 13 with charter capital of VND10 million (US$432). The company is headquartered at 187 Nguyen Chi Thanh Street in HCMC’s District 5. Saigon Beer was founded one week prior to the annual shareholder meeting of Sabeco, which is set to take place on Saturday, July 21, according to the national business registration portal. Neo Siong Bennett, a Singaporean who was recently appointed Sabeco’s deputy director, is Saigon Beer’s legal representative. Saigon Beer has reportedly registered to sell construction materials and equipment as well as beer, alcohol, wine and soft drinks. On July 19, Sabeco announced that it would replace its spokesperson. Teo Hong Keng, Sabeco’s deputy general director, who was elected two months ago, has been serving as Sabeco’s official spokesman since July 20. He has replaced Bui Anh Vu, head of the Planning Department at Sabeco. The upcoming annual shareholder meeting is expected to discuss critical issues, such as company regulations, registered business fields and the election of seven members to the board of directors. ThaiBev has made many changes since it acquired Sabeco at the end of April.