Investment funds from Singapore turn to Vietnam as global conditions remain volatile Major deals In the first half of 2019, investment funds from Singapore continued their quest for high-performing firms listed on Vietnam’s main bourses. Most recently, F&N Dairy Investments, the Singaporean subsidiary of tycoon Charoen Sirivadhanabhakdi, registered to buy 1 per cent of dairy firm Vinamilk between July 10 and August 8. At the same time, another big-name in the region – Platinum Victory of Jardine Matheson Group – wanted to purchase the same amount of shares between July 4 and August 2. The two companies already have significant ownership at Vinamilk – F&N has 17.31 per cent and Platinum Victory 10.62 per cent. The latter might be the newcomer to this race, but they have shown some incredible buying powers: the investor was the sole buyer at Vinamilk’s share auction in 2017, taking up 3.3 per cent of the shares from Vietnam’s State Capital Investment Corporation (SCIC). Not stopping there, the firm continued to buy Vinamilk stock throughout 2018, becoming the firm’s second-largest investor from abroad after F&N. Earlier in the year, Singapore’s sovereign wealth fund GIC Private Ltd. finally succeeded in buying shares at state-owned Vietcombank. The… Read full this story
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