Beverage giant Tan Hiep Phat appoints new general director
Tan Hiep Phat Beverage Group has appointed David Riddle its new general director after Tran Qui Thanh was arrested on Monday for "abusing trust to appropriate property".
Riddle is also legal representative of Tan Hiep Phat, the largest Vietnamese beverage company.
"David Riddle has extensive management experience at large corporations in the world. He has been working for Tan Hiep Phat for more than 13 years as vice board chairman and plays an important role in the group's development," the company said in a release Tuesday.
David Riddle, Tan Hiep Phat's new general director. Photo courtesy of the company.
Tan Hiep Phat added that it has been affected by the arrest of Tran Qui Thanh, its founder and general director, and is striving to minimize the impact on its operations and partners.
The Ministry of Public Security's investigative agency (C01) on Monday detained Tran Qui Thanh and his two daughters Tran Uyen Phuong and Tran Ngoc Bich Thanh for abusing trust to appropriate property. C01 searched the three defendants' residences and workplaces at nine locations.
Tran Qui Thanh and his daughter Tran Phuong Uyen. Photo courtesy of Tan Hiep Phat.
According to the investigative agency, the prosecution is handling complaints made by people from Ho Chi Minh City and Dong Nai province who accused the trio and other individuals of fraudulently appropriating property, abusing trust to appropriate property, and evading tax. Such acts are related to projects and real estate of great values in Dong Nai and HCMC.
- Read More
Malaysia eyes to become global medtech hub
Malaysia is on track to become a global medical technology (medtech) hub with its strong policies in attracting and executing the right investments, says Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.
Southeast Asia - Thu, December 12, 2024 | 10:14 pm GMT+7
Malaysia launches national AI office for shaping policy
Malaysia on Thursday launched a national artificial intelligence (AI) office aimed at shaping policies and addressing regulatory issues, as it looks to establish itself as a regional hub for AI development.
Southeast Asia - Thu, December 12, 2024 | 10:10 pm GMT+7
Amended Electricity Law to benefit renewable energy, energy infrastructure firms: broker
The amended Electricity Law, effective from February 1, 2025, is expected to benefit businesses involved in the development of renewable energy, energy infrastructure, and power generation.
Companies - Thu, December 12, 2024 | 10:05 pm GMT+7
Vietnam's central bank orders mandatory transfer plans for GPBank, DongA Bank
The government has requested the State Bank of Vietnam (SBV) to urgently submit its plan on mandatory transfers of the remaining two banks under special control, GPBank and DongA Bank, no later than December 20.
Banking - Thu, December 12, 2024 | 9:46 pm GMT+7
Northern Vietnam province attracts $90 mln investments from Singapore, US
Hai Duong province, a manufacturing center in northern Vietnam, has attracted two foreign-invested projects totaling $90 million.
Industries - Thu, December 12, 2024 | 9:15 pm GMT+7
Apple supplier Quanta to double capacity of $120 mln Vietnam plant
Taiwan-based Quanta Computer will double the capacity of its factory in Vietnam’s northern province of Nam Dinh, with new products.
Industries - Thu, December 12, 2024 | 4:30 pm GMT+7
Singapore firm to spend $29 mln on land lease for $590 mln project in Vietnam
Singapore-based Mega Textile will spend $28.7 million to acquire land use rights for a 51-hectare land lot in VSIP Nghe An Industrial Park, central Vietnam to make a $590 million investment.
Industrial real estate - Thu, December 12, 2024 | 2:01 pm GMT+7
Vietnam’s Investment Support Fund to mainly help foreign firms
The Vietnamese government is tasked with issuing a decree on the Investment Support Fund to help multinational and foreign companies, given the Global Minimum Tax (GMT) context.
Economy - Thu, December 12, 2024 | 12:04 pm GMT+7
Vietnam's Ministry of Finance, Ministry of Planning and Investment to become one
The Ministry of Finance and the Ministry of Planning and Investment will merge with each other to form a new ministry with 34 agencies, down the current total of 56.
Economy - Thu, December 12, 2024 | 9:52 am GMT+7
Vietnam's logistics heavyweight Gemadept raises $118 mln for asset purchases, debt repayment
Gemadept Corporation, a leading port and logistics company in Vietnam, has successfully sold 102.7 million shares to existing shareholders at the price of VND29,000 ($1.14) apiece, raising VND2,978 billion ($117.3 million).
Companies - Thu, December 12, 2024 | 8:15 am GMT+7
Vietnam's Mekong Delta offers significant potential for biomass power generation: Erex exec
The Mekong Delta region's abundance of straw and rice husks provides an affordable and sustainable resource for biomass power generation, says Tomoki Kakuta, CEO of Erex Group.
Energy - Wed, December 11, 2024 | 11:23 pm GMT+7
Indonesia to reduce corn, salt, sugar imports in 2025
Indonesia will slash corn, salt, sugar import quotas for 2025 as part of its efforts to make domestic industries use more domestic products.
Southeast Asia - Wed, December 11, 2024 | 11:02 pm GMT+7
Vietnam a promising market for supply chain diversification, risk mitigation: German association AHK
German businesses see significant growth potential in Vietnam's promising market, especially when the country’s focus on renewable energy and sustainability aligns with Germany’s strengths in green technologies.
Economy - Wed, December 11, 2024 | 5:57 pm GMT+7
Philippines expected to import record rice volume
Despite record production and ample stocks, the Philippines is expected to import a record volume of rice in the 2024-2025 crop year, according to a report from the Foreign Agricultural Service (FAS) of the US Department of Agriculture.
Southeast Asia - Wed, December 11, 2024 | 4:23 pm GMT+7
Vietnam's auto sales up 17% to 308,544 in Jan-Nov
Members of the Vietnam Automobile Manufacturers' Association (VAMA), not including VinFast and Hyundai, sold 308,544 units in the first 11 months of 2024, up 17% year-on-year.
Companies - Wed, December 11, 2024 | 3:46 pm GMT+7
Indonesia's economic growth projected below 5.2%
Indonesia’s Finance Minister Sri Mulyani Indrawati has forecast a growth rate of 5.01% for the country’s economy in the fourth quarter of 2024.
Southeast Asia - Wed, December 11, 2024 | 3:37 pm GMT+7
