Revenue vs gross profit

SINGAPORE/HANOI -- Singapore's sovereign wealth fund GIC is among investors vying to buy up to 20 percent stake in grocer Bach Hoa Xanh from Vietnam's retail giant Mobile World Investment, in a deal that could value the grocery chain at up to $1.7 billion, two sources said. GIC declined to comment. Other bidders include companies from Thailand, the sources added, declining to be named as the matter is private. The identity of the potential buyers has not been reported previously. "The deal is nearing to the finalising stage and expected to close soon," one of the sources with knowledge of the matter said, adding that a deal could be sealed as early as the first quarter of next year if negotiations are successful. In a statement to Reuters , Mobile World said it would announce the information once the deal was concluded. "We are still in a private placement and have signed an agreement not to disclose information with interested bidders," it said. The potential deal would … [Read more...] about Singapore’s GIC among bidders vying for stake in Vietnam’s third largest grocery chain

Data from WINA estimates that in 2022, China’s national noodle demand amounted to nearly 45 billion servings, followed by Indonesia at 14.2 billion, and Vietnam with 8.48 billion. This means each Vietnamese person consumed an average of 85 packs a year, ranking first globally. The report indicates that the instant-noodle demand among Vietnamese decreased slightly between 2021 and 2022, with the figures down by nearly 1 per cent. However, the 8.6 billion packs sold in 2021 marked an increase of more than 20 per cent compared to 2020. Vietnam is home to about 50 instant noodle producers, offering a diverse range of options and price points. Dominated by four major instant noodle makers, namely Acecook Vietnam, Masan Consumer, Uniben, and Asia Foods, the competition in Vietnam's instant noodle market is becoming fiercer. In 2022, Acecook generated revenues of over $590 million. Annually, it provides the market with more than three billion instant food products each year, making it … [Read more...] about Vietnam among the world’s principal instant noodle consumers

A FireGroup Technology representative receives the Việt Nam’s Top 10 Digital Technology Companies. — Photo courtesy of FireGroup Technology FireGroup Technology has won the Top 10 Digital Technology Companies Awards in two categories for 2023: Logistics and e-Commerce solutions and impressive revenue growth. The annual awards, presented by the Việt Nam Software and IT Services Association, were announced in Hà Nội last week. It marks a milestone in the company’s journey from being a start-up founded by five entrepreneurs driven by their passion for e-commerce and drop-shipping. “In 2023, during the seventh year of our development journey, FireGroup remains steadfast in our fundamental desire to grow,” Khoa Le, one of the founders and CEO of FireGroup Technology, said. “We are a dedicated team with growth mindsets that transform our work into a passion, fostering a culture of learning where we actively explore and apply the world’s leading innovations and creative ideas. … [Read more...] about FireGroup Technology wins Việt Nam’s Top 10 Digital Technology Companies Awards

Lotte's largest retail complex in Vietnam has opened all establishment “We are committed to accompanying the socioeconomic development of Hanoi and Vietnam through investment activities, research, and development of more projects here,” said Shin Dong-bin, chairman of Lotte Group. Located in Hanoi, the $624 million complex combines a shopping mall with a hotel, cinema and aquarium, and has officially opened all establishments of the largest retail complex in Vietnam this month, is the 16 th supermarket of Lotte Mart in Vietnam, and the third branch of Lotte Mart in Hanoi. This is in light of the restructuring in China and stagnating sales in Korea. The move signifies Lotte's turn towards Southeast Asia. “1996 marked the beginning of Vietnam's Lotte Group with an investment contract for shopping malls and supermarkets, and now we have 19 member companies of Lotte in Vietnam,” he said. Lotte Shopping operates department stores, hypermarkets and supermarkets, e-commerce, … [Read more...] about New Lotte mall expands operating terms amid growth in foreign retail