F&N Dairy Investments is holding over 301.5 million shares of Vinamilk (Photo: https://tbck.vn)

In the first half of 2019, Singapore-based firms of F&NDairy Investments and Platinum Factory showed its interest in purchasing sharesof the Vietnam Dairy ProductsJoint Stock Company (Vinamilk).

Currently, it is the secondbiggest shareholder of Vinamilk with over 301.5 million shares or 17.31percent.

Meanwhile, Platinum Victorybought more than 184.8 million shares of the Vietnamese firm over the pastthree years to take 10.62 percent of ownership.

Also in the first half of2019, the Singapore Government’s Singapore Investment Corporation (GIC) bought 2.55 percent of Vietcombak’s shares at 55,800VND per share and total value of 265 million USD.

The stated-owned firm ofSingapore also increased its ownership in Masan group from 8.98 percent to10.18 percent.

Jeffrey Jaaensubhakil, GIC ChiefInvestment Officer, said that Vietnam is forecast to become a “new factory ofthe world”, and the GIC has special interest in leading firms of the country.

Last year, the GICrestructured the investment portfolio, divested capital from big market andgave more investment to others such as Brazil, Vietnam and China, he said.

At the Investment Asia heldby Maybank Kim Eng in Singapore recently, regional investors showed greatinterest in Vietnam.

According to Jeffrey Goh, RegionalHead of Brokerage of Maybank Kim Eng, said that his customers, especially thosefrom Singapore, wish to explore the Vietnamese market.

They requested moreinformation of the market, including legal corridors and new products in thesecondary market, he added.

However, Yeu Huan Lai, anexpert from Nikko Asset Management, said that obstacles in the celling levelfor foreign ownership should be removed as many Singaporean investors are stillfacing problems with the regulation, especially in areas with restriction offoreign investment.

At the same time, manyVietnamese firms have yet to make reports at international standards and inEnglish, making it difficult for investors to define businesses’ value, headded.-VNA