Former English teacher Jack Ma, 54, has become a globally recognised figure through his constant travel and playful antics (Photo: AFP/JORGE SILVA) On the morning of Sep 10, China’s most famous billionaire announced plans to step down as head of the company he founded. Jack Ma revealed he would leave his role as executive chairman of Alibaba Group, the e-commerce and internet behemoth he has led for its entire 19-year existence. In a letter to the 86,000 employees of Alibaba, Ma stated that he would remain as executive chairman for a transition period of one year, at the end of which he will hand the reigns to Daniel Zhang, who has served as CEO of the firm since replacing Ma in that role three years ago. Ma also announced in the letter that he intends to continue to serve on the company’s board of directors until its annual meeting in 2020. In a heartfelt and eloquent letter characteristic of the charismatic entrepreneur, he expressed gratitude for, and confidence in, … [Read more...] about Where next, Jack Ma?
Grants ant stakes where buy
Hanoi Post and Telecommunication Construction and Installation Joint-Stock Company (Hacisco) shareholder Robert Alexander Stone raised his stake to 6.09 percent from 5.9 percent on April 18. Stone boosted his stake by buying 10,000 shares, the Ho Chi Minh Stock Exchange reported on its website. Last month he bought a similar-sized parcel of shares in the Hanoi-based firm. Hacisco, which provides cellular and fixed-line telephone, fax, trunk and telex services, is in the process of buying back 500,000 shares between March 14 and June 14. … [Read more...] about Hacisco shareholder raises stake
With almost 1.6 million ha of rice grown in winter-spring crop, it is estimated that farmers in the Mekong Delta will harvest around 10 million tons of rice. While the price of rice at the beginning of the crop continues to reduce because rice export meet difficulties, the price of exported rice is currently at 440 USD per ton. While businesses conduct concentrated rice export contracts, a commercial contract alone is signed slowly so the danger of local people keeping rice at home is large. Reporter: Facing the situation of exporting rice in our country slowly, what measures does VFA have to buy up rice from farmers? Mr Huynh Minh Hue: The responsibility of the government and the Association is how to consume rice at reasonable prices, ensure minimum interests for farmers, in which, focusing on measures of intensifying export and buy to store up when necessary. The main problem is how to timely consume rice of farmers and ensure effectiveness for producers. In case of slow exports, … [Read more...] about Intensive campaign to buy rice to stabilise prices and protect interests of farmers
Vietnam's trade ministry said on Sunday that Vietnam Beverage Co Ltd, a unit of Thai Beverage, was the only investor seeking to buy all shares of Vietnamese brewer Sabeco on offer worth nearly $5 billion.The keenly anticipated sale of the state-owned maker of Bia Saigon gained momentum in recent months after being hampered for years by political resistance, fickle policy-making and complications over valuations.The government has set a minimum sale price of 320,000 dong or $14.10 per share for Saigon Beer Alcohol Beverage Corp (Sabeco), whose shares have nearly trebled to 309,200 dong since its listing a year ago.The trade ministry said in a statement on Sunday that two investors had registered to participate in the Dec. 18 sale auction for a stake in Sabeco, with Thai Bev's unit Vietnam Beverage wanting to buy all shares on offer worth around 54 percent of Sabeco.The other investor is a Vietnamese individual who registered to buy 20,000 Sabeco shares, or 0.003 percent of Sabeco, the … [Read more...] about Thai Bev’s unit seeks to buy a near $5 bln stake in Sabeco
Thai Beverage (TBEV.SI), through a local unit, emerged as the only bidder keen to buy all shares on offer of Vietnam’s top brewer Sabeco SAB.HM worth nearly $5 billion, as Vietnam conducts an auction on Monday in its biggest privatisation process.Vietnam’s young population and booming economy should make Sabeco an attractive asset for global brewers hoping to expand in Southeast Asia, but a high minimum bid price and foreign ownership limits appear to have turned off potential buyers. The keenly anticipated sale of the state-owned maker of Bia Saigon gained momentum in recent months after being hampered for years by political resistance, fickle policy-making and complications over valuations.The trade ministry said in a statement on Sunday that Vietnam Beverage Co Ltd had registered to participate in Sabeco’s sale auction, in which the government is selling a nearly 54 percent stake.In a statement to the Singapore exchange late on Sunday, Thai Beverage said its … [Read more...] about Thai Bev only bidder seeking to buy $5 billion stake in Vietnam’s Sabeco