Dairy giant Vinamilk contributes $70 mln to shareholder Fraser and Neave's profit in fiscal year 2024
Vinamilk, one of the biggest dairy firms in Vietnam, contributed SGD95 million ($69.5 million) to the profit before interest and tax (PBIT) of shareholder Fraser and Neave (F&N) in fiscal year 2024 (October 2023-September 2024).
According to F&N’s report for the fiscal year, Vinamilk’s contribution accounted for 32% of F&N’s total profit.
A Vinamilk worker. Photo courtesy of Vinamilk.
F&N was originally a Singapore-based food & beverage giant. After a share swap deal in 2024 with Thailand’s giant ThaiBev, it became an entity associated with Thai billionaire Charoen Sirivadhanabhakdi. F&N held a non-controlling interest of 20.4% in Vinamilk, listed on the Ho Chi Minh Stock Exchange (HoSE) as VNM, as of end-September 2024.
Vinamilk maintains a presence in over 60 countries globally and operates with the support of 16 dairy factories Vietnam, Cambodia, and the United States, in addition to 15 dairy farms in Vietnam and Laos, according to F&N.
Last week, F&N registered to purchase nearly 20.9 million VNM shares. The transaction, with an estimated value of VND1.3 trillion ($51.2 million), is expected to be done from January 17 to February 14 via throughput and order matching methods.
The move is part of the firm’s persistent efforts to accumulate VNM shares after failing to acquire any in many attempts.
The Vietnamese dairy giant boasts a tradition of paying high cash dividends. At its peak in 2016-2017, the payout ratio reached up to 50-60% of the share face value. In 2023, the company posted a dividend rate of 38.5%, equivalent to about VND8.04 trillion ($316.5 million).
- Related News
- Read More
Vietnam officially pilots crypto asset market
Starting from Tuesday, Vietnamese enterprises with a charter capital of at least VND10 trillion ($379 million) and meeting certain conditions will be eligible to receive a license to participate in the pilot of a crypto asset market in the country.
Finance - Wed, September 10, 2025 | 9:52 pm GMT+7
Indonesia urges feed industry to stabilize prices to protect farmers
Indonesia’s Ministry of Agriculture has urged animal feed companies to refrain from raising prices amid rising production costs in many key centres, which has the potential to burden poultry farmers, both small and large-scale operations.
Southeast Asia - Wed, September 10, 2025 | 9:25 pm GMT+7
Malaysia consolidates position in semiconductor supply chain
Malaysia can maintain its position as a middle power in the global semiconductor supply chain through the implementation of the National Semiconductor Strategy (NSS), which was launched in May last year, according to Deputy Investment, Trade and Industry Minister Liew Chin Tong.
Southeast Asia - Wed, September 10, 2025 | 9:23 pm GMT+7
Indonesia attracts $18.63 bln investment in special economic zones
Indonesia has drawn a total of $18.63 billion in investment into its special economic zones (SEZs) over the past five years, creating more than 187,000 jobs, according to the Coordinating Ministry for Economic Affairs.
Southeast Asia - Wed, September 10, 2025 | 9:20 pm GMT+7
Vietnam highly evaluated as key shipping hub
Russian logistics companies are expanding rail and sea routes to boost Vietnam-Russia trade, with FESCO Transportation Group playing a central role through its project to develop Ho Chi Minh City port into a Southeast Asian transshipment hub.
Companies - Wed, September 10, 2025 | 9:10 pm GMT+7
Malaysia issues emergency security alert at gas facilities
The Malaysian government has issued an emergency order to tighten security at all liquefied natural gas (LNG) facilities in Bintulu, Sarawak state, following the detection of a serious security threat targeting the sites.
Southeast Asia - Wed, September 10, 2025 | 9:04 pm GMT+7
Agribank’s 37-year journey as Vietnam’s leading bank and national brand excellence
Over three decades of relentless innovation and development, Agribank has become a pivotal pillar of Vietnam's financial and banking sector.
Companies - Wed, September 10, 2025 | 5:53 pm GMT+7
Sun Group wins nod for $2.6 bln urban projects in central Vietnam
Subsidiaries of Vietnam’s leading property developer Sun Group have secured approval to develop two major urban area projects worth nearly VND68 trillion ($2.58 billion) in the central coastal province of Khanh Hoa.
Real Estate - Wed, September 10, 2025 | 4:35 pm GMT+7
PV Gas D - a pioneer in distributing clean gas, creating green energy future
Towards the 35th anniversary of PetroVietnam Gas JSC (PV Gas), PetroVietnam Low Pressure Gas Distribution JSC (PV Gas D) proudly looks back on its journey of development full of courage, responsibility, and breakthroughs.
Companies - Wed, September 10, 2025 | 4:30 pm GMT+7
Dung Quat oil refinery's operator BSR seeks investors on possible stake cut by Petrovietnam
Binh Son Refining and Petrochemical JSC (HoSE: BSR), operator of Vietnam’s Dung Quat Refinery, is in talks with potential investors as state-run Petrovietnam might trim its stake to comply with new listing rules, said executives.
Companies - Wed, September 10, 2025 | 4:19 pm GMT+7
Hyundai Rotem keen on developing high-speed railways in Vietnam
Hyundai Rotem, a mechanical engineering company under Korean chaebol Hyundai Group, has expressed an interest in building high-speed railways in Vietnam.
Investing - Wed, September 10, 2025 | 12:43 pm GMT+7
Vietnam automobile, motorcycle and bicycle association aims to make only electric vehicles by 2035
The Vietnam Automobile, Motorcycle and Bicycle Association (Vamoba) seeks to have all of its members produce at least one electric vehicle (EV) product line by 2027 and by 2035, 100% of their automobiles and motorcycles will be environmentally friendly EVs.
Economy - Wed, September 10, 2025 | 11:16 am GMT+7
From transparent technology to humanitarian values: The story of Vietnam’s first charity platform
Launched in 2021 under the direction of the Ministry of Science and Technology, in coordination with the Vietnam Red Cross Society and other socio-political organizations, a platform named “thiennguyen” (charity) developed by MBBank has paved a new path for community philanthropy in the digital era.
Companies - Wed, September 10, 2025 | 8:41 am GMT+7
Increased foreign capital flows, long-term opportunities for Vietnam's retail-consumer goods industry
Vietnam’s conglomerate Masan Group (HoSE: MSN), with a market capitalization of nearly $4.8 billion, high liquidity, ample foreign ownership room, and a solid business foundation, is expected to be a top pick for foreign investors.
Companies - Wed, September 10, 2025 | 8:00 am GMT+7
Vietnam’s pepper exports surpass $1 bln in 8 months
Vietnam’s pepper industry recorded export revenue of more than $1 billion in the first eight months of 2025, the highest level for the period in seven years, according to the Vietnam Pepper and Spice Association (VPSA).
Companies - Tue, September 9, 2025 | 11:13 pm GMT+7
Indonesia, EU to sign CEPA after decade of negotiations
The Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) is set to be signed on September 23 after a decade of negotiations, according to Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto.
Southeast Asia - Tue, September 9, 2025 | 10:07 pm GMT+7
