Leadvisors Capital Management ups stake in Trang Tien ice cream owner
Leadvisors Capital Management bought 6.26 million OCH shares in One Capital Hospitality JSC, owner of the well-known Trang Tien ice cream brand in Vietnam, on June 23, raising its ownership from 3.33% to 6.46%.
The transaction makes Leadvisors Capital Management a major shareholder in One Capital Hospitality JSC, listed on the Hanoi Stock Exchange (HNX) as OCH.
Leadvisors Capital Management is connected to Le Dinh Quang, general director at One Capital Hospitality.
Leadvisors Capital Management is a fund management company under Leadvisors Capital Group, the parent company of IDS Equity Holdings.
One Capital Hospitality JSC has targeted a consolidated revenue of VND1.2 trillion ($50.88 million) in 2023, and consolidated after-tax profit of VND148 billion ($6.3 million), up 18% and 100% year-on-year, respectively.
Trang Tien ice cream made its debut in 1958 and takes its name from an iconic street in the center of Hanoi. Trang Tien street was also the first place where the ice cream was produced and sold.
The brand currently has outlets in most provinces and cities across the country.
One Capital Hospitality JSC is also well known as owner of the famous Givral cake brand that was launched more than 70 years ago in Ho Chi Minh City.
In addition, the company owns a chain of Sunrise hotels and resorts in the central region, namely Sunrise Nha Trang, Sunrise Premium Resort & Spa Hoi An, and Star City Nha Trang.
In the field of food production, One Capital Hospitality JSC said it will continue to improve quality and develop new competitive products, while ensuring food safety using natural and safe ingredients.
For the Trang Tien ice cream brand, the company will stabilize production to ensure supplies during the peak summer season, with more convenient payment options. However, pressure on the brand is increasing as new, strong players enter the F&B market.
The firm will also continue developing the Givral cake brand in the Hanoi market, ensuring outstanding quality in the same price segment as competitors like Fresh Garden and Hai Ha Kotobuki. At the same time, in the southern region, Givral will strive to maintain its top 3 position for fresh cakes and birthday cakes.
In its hotel and resort business, the occupancy rate of Sunrise Nha Trang hotel rooms is expected to reach 59.9% in 2023, while the figure for StarCity Nha Trang is expected to be 57.8%.
In 2022, One Capital Hospitality JSC's revenue reached more than VND1 trillion ($42.6 million), and after-tax profit hit more than VND72 billion ($3.06 million), while in the same period the previous year it lost VND468 billion ($19.9 million).
OCH shares of One Capital Hospitality JSC were relieved of trading restrictions by the Hanoi Stock Exchange (HNX) on December 15, 2022, after it submitted separate financial statements and audited consolidated financial statements for 2021, and did not violate regulations on information disclosure for six consecutive months.
On the HNX, OCH finished at VND8,500 ($0.36) on Thursday.
- Read More
Nghiem Xuan Thanh appointed Party chief of Khanh Hoa province
Nghiem Xuan Thanh, Party chief of Hau Giang province, was appointed by the Politburo, the country’s supreme decision-making body, to be Khanh Hoa province’s Party chief for the 2020-2025 term.
Politics - Sun, November 3, 2024 | 7:45 pm GMT+7
Thailand seeks FTA negotiations with Eurasian Economic Union
Thailand is holding talks with Russia to expedite negotiations for a free trade agreement (FTA) with the Eurasian Economic Union (EAEU).
Southeast Asia - Sun, November 3, 2024 | 7:20 pm GMT+7
Indonesia attracts foreign investment in technology sector
As many as 19 Australian companies have expressed an interest in investing in Indonesia's technology sector, Communication and Digital Affairs Minister Meutya Hafid said on Thursday.
Southeast Asia - Sun, November 3, 2024 | 7:18 pm GMT+7
Robots work hard, don’t argue: Viettel exec counsels effective use of technology
Small businesses in logistics should look to use existing tools, software and technology solutions effectively, says Dinh Thanh Son, deputy CEO of Viettel Post.
Companies - Sun, November 3, 2024 | 4:30 pm GMT+7
Vietnamese multi-sector group Masan uses AI to forecast product sales: executive
AI has helped Masan Group forecast the number of items likely to be sold during peak season based on available data and to optimize product placement, says An Luong, head of the corporation’s artificial intelligence & data science division.
Companies - Sun, November 3, 2024 | 2:51 pm GMT+7
Vietnam needs large, specialized logistics centers to compete better: official
Vietnam needs large-scale, specialized logistics centers that will enable greater competitiveness of local economies and enterprises, says Tran Thanh Hai, deputy head of the Ministry of Industry and Trade's agency of foreign trade.
Economy - Sun, November 3, 2024 | 11:00 am GMT+7
Vietnam manufacturing sector sees 35% increase in Q3 job orders: Adecco
Vietnam’s manufacturing and sourcing sectors saw a substantial 35% year-on-year increase and a 52% quarter-on-quarter increase in Q3/2024 job orders, global workforce solutions provider Adecco said in a reseach report released Thursday.
Economy - Sun, November 3, 2024 | 9:00 am GMT+7
Construction majors to continue capitalizing on public investment projects
Vietnamese construction giants are expected to continue capitalizing on public investment projects for the remainder of this year after delivering strong performances in the third quarter, analysts say.
Companies - Sun, November 3, 2024 | 8:00 am GMT+7
Former Government Office chairman receives $7,900 bribe from property project
Mai Tien Dung, former Minister-Government Office Chairman, received a bribe worth VND200 million ($7,900) from Nguyen Cao Tri, owner of the Dai Ninh eco-resort and urban area project in Lam Dong province.
Society - Sat, November 2, 2024 | 9:13 pm GMT+7
Thai food giant CP enters public-private partnership to promote food system transformation
Thai-invested C.P. Vietnam Livestock JSC and the Partnership for Sustainable Agriculture Vietnam (PSAV) signed a memorandum of understanding Friday on working together to advance sustainable agriculture in the country.
Companies - Sat, November 2, 2024 | 7:16 pm GMT+7
Central Vietnam province Quang Ngai to begin work on new VSIP industrial park next year
Vietnam’s central province of Quang Ngai will work with the investor to have construction of VSIP II Quang Ngai, a facility based on the Vietnam-Singapore Industrial Park (VSIP) model, begin in August 2025.
Industrial real estate - Sat, November 2, 2024 | 3:47 pm GMT+7
Vietnam likely to grow 6.5% in 2024-2025: VinaCapital
VinaCapital, among the biggest foreign-run asset managers in Vietnam, has forecast the country’s economy to achieve 6.5% growth in both 2024 and 2025, with the composition of the expansion to change to more domestically driven factors next year.
Economy - Sat, November 2, 2024 | 2:00 pm GMT+7
Major Vietnamese developer Novaland appoints new CEO
Duong Van Bac, who joined Novaland as chief financial officer in August 2023, has been appointed general director, starting Friday.
Companies - Sat, November 2, 2024 | 10:24 am GMT+7
Vietnamese conglomerate Bamboo Capital posts 36-fold profit growth in Q3
Ho Chi Minh City-based Bamboo Capital Group recorded an after-tax profit of VND331.2 billion ($13.1 million) in the third quarter of 2024, an astounding 36-fold expansion year-on-year.
Southeast Asia - Sat, November 2, 2024 | 9:41 am GMT+7
ThaiBev to bag $54 mln from Sabeco’s upcoming dividend payout
Vietnam Beverage, wholly owned by Thai Beverage (ThaiBev) will rake in VND1,374 billion ($54.26 million) worth of dividend from Ho Chi Minh City-based top brewer Sabeco.
Companies - Sat, November 2, 2024 | 9:13 am GMT+7
Steel heavyweight Hoa Phat pours over $2 bln into central Vietnam complex
Leading Vietnamese steelmaker Hoa Phat had invested more than VND52.5 trillion ($2.08 billion) in its Dung Quat Iron and Steel Integrated Complex (Dung Quat 2) in the central province of Quang Ngai as of Q3/2024.
Industries - Sat, November 2, 2024 | 8:00 am GMT+7