CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment / News
Nawaplastic to increase shareholdings at Binh Minh Plastic
Nguyen Tung 15:43, 2018/04/03
Nawaplastic Industries, a subsidiary of Thailand`s Siam Cement Group (SCG) has registered to purchase an additional of 818,609 shares at Binh Minh Plastic, lifting its ownership to 50.89%.
Transaction period is expected to be scheduled from April 4 to May 3, informed the Ho Chi Minh Stock Exchange. 
 
Nawaplastic currently is the largest stakeholder in Binh Minh Plastic.
Nawaplastic currently is the largest stakeholder in Binh Minh Plastic.
Nawaplastic currently is the largest stakeholder in the plastic company through its ownership of 49.98% shares. Consequently, by purchasing an additional of 818,609 shares, Nawaplastic will take its shareholdings to 41.66 million shares, equivalent to 50.89% of charter capital. 

On March 19, the State Capital Investment Corporation (SCIC) has completed transferring 24.14 million Binh Minh Plastic shares to Nawaplastic. This were the whole share amount SCIC put on offer on March 9 with price of VND96,500 (US$4.24) apiece, for a return of VND2.3 trillion (US$101 million). 

Established in 1977, Binh Minh Plastics has cemented its position as the country's leading manufacturer and trader of plastic pipes and fittings. The government last year removed the limit of foreign ownership in Binh Minh Plastics, which was previously capped at 49%.

Apart from Nawaplastic, its other investors include Franklin Templeton Investments that owns 10.78%. Nawaplastic had earlier divested its entire 24% stake in Tien Phong Plastic JSC, a rival of Binh Minh Plastic, for more than VND1.5 trillion (US$66 million). As of 2017, SCG has invested about US$121 million in Vietnam's plastic industry.

The Thai group also holds shares in a number of companies specializing in the production of household plastics, such as Viet-Thai Plastchem, TPC Vina Chemical and Plastic Corporation, and Minh Thai House Component.

In 2017, Binh Minh Plastic's revenue stood at VND4 trillion (US$176 million), up 10% year-on-year while after-tax profit was only VND471 billion (US$20.7 million), down 25% compared to the previous year, stated the audited financial report. 

The company set its revenue and production target at 6% growth rate comparing to 2017, with the after-tax profit to grow at 3%. 
Comments
Other news
12:17, 2025/02/25
Vietnam eyes top 3 in investment environment in ASEAN next 2 years: Party Chief
A key objective is to trim off at least 30% of administrative procedures and cut both business costs and unofficial fees.
18:03, 2025/02/22
Vietnam attracts South Korean tech investment at SEMICON Korea 2025
The event provided a platform for Vietnam to showcase its semiconductor potential and reaffirm its commitment to developing high-tech industries and strengthening international cooperation.
16:46, 2025/02/20
Swedish group plans US$1 billion investment in Binh Dinh recycling plant
By creating a large number of jobs and promoting a green economy, the initiative is important in establishing Vietnam as a global hub for the circular textile sector.
10:52, 2025/02/13
Samsung plans to invest in AI, semiconductors in Vietnam
Vietnam will continue improving its investment environment and driving strategic breakthroughs in order to usher in a new era of economic development.
17:20, 2025/02/07
Vietnam's data center construction costs among the lowest in Asia Pacific
The country has a lot of potential to become one of the most important data markets in the region.
21:05, 2025/02/03
Bright prospects for FDI inflows into Vietnam in 2025
Market size, growth potential, low labor costs, and stable political and social conditions continue to be Vietnam’s selling points in attracting foreign investors.