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Author: Mei Ling Tan

  • UBS Named as Bank for Shell Company of Roger Ng’s Wife

    UBS Named as Bank for Shell Company of Roger Ng’s Wife

    In the latest of Roger Ng’s 1MDB trial, an FBI agent claims that his wife played a major role in creating a shell company to open an account with Swiss financial giant UBS.

    Roger Ng’s wife, Hwee Bin Lim, played a central and crucial role» in helping her husband launder illicit payments from the 1MDB bond deals.

    Prosecutors claim that Low and his associates siphoned at least $500 million from the first $1.75 billion bond transactions called «Project Magnolia» with ex-Goldman colleague Tim Leissner testifying that he had received more than $60 million from Low into accounts controlled by his then-wife Judy Chan Leissner before using those accounts to send $35.1 million to Ng through an entity set up by Lim.

    In the latest development, FBI special agent Sean Fern took the stand and testified about Lim’s role in setting the shell entity using a raft of emails as proof.

    According to Fern, Lim inquired about creating a shell entity one day before the first 1DMB bond deal closed. The shell company – first named «Silken Waters» before later being renamed «Victoria Square» – was opened along with a bank account at UBS.

    Although Lim’s mother, Tan Kim Chin, was listed as the beneficial owner, Fern said he traced emails showing that bankers communicated directly with Lim about Victoria Square and the UBS account.

    Ng has argued that the money sent from Leissner’s wife to Lim, who has not been charged, was for an unrelated business transaction.

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  • Vietnam is Duolingo’s largest market in region

    Vietnam is Duolingo’s largest market in region

    Duolingo, the world’s leading language learning app, said Vietnam is its largest market in Southeast Asia but it is yet to monetize its products.

    Haina Xiang, its head of marketing for China and Southeast Asia, said the number of active users in Vietnam grew by 67 percent a month in the year since Jan. 2021.

    Vietnam “has far outpaced other markets in a short time,” she said, adding that the number of active users in the country in 2022 has doubled year-on-year.

    Around 6 percent of Duolingo’s 40 million monthly active users have signed up for it to download lessons and skip ads.

    The American company reported revenues of $250 million last year, up 55 percent from 2020, and said gross profits nearly tripled to $60 million.

    According to Duolingo’s statistics, English and Chinese are the most popular courses on its platform in Vietnam.

    Users spend an average of 17.6 minutes a day on the app, usually at 9-10 p.m.

  • 7-Eleven to sell body scrub online made from coffee

    7-Eleven to sell body scrub online made from coffee

    In what’s likely the most unexpected beauty launch of the year, 7-Eleven has officially entered the world of beauty with the release of their $1 coffee body scrub.

    The strictly limited edition scrub, which will be sold exclusively via online retailer Adore Beauty from Tuesday 22 March, is made from the same aromatic Arabica and Robusta beans found in the millions of cups of freshly ground coffee sold each year at 7-Eleven.

    Much like the retailer’s coffee, the product’s very reasonable price tag is sure to excite beauty lovers, with the body scrub retailing for just $1.

    Australian actor Olympia Valance has also been revealed as the face of the new product, saying, “Coffee and skincare products are two things I can’t live without, so being the face of 7-Eleven’s Coffee Body Scrub was a no brainer. Now I can exfoliate, rejuvenate and caffeinate with the same great coffee Australians have been enjoying for years.”

    7-Eleven’s Head of Marketing Communications, Adam Jacka, added that the Coffee Body Scrub is a fun and innovative way to showcase the quality of coffee that Australians enjoy every day.

    “We’re thrilled to be launching 2022’s most unexpected arrival in beauty, the 7-Eleven Coffee Body Scrub. We take great pride in sourcing great quality beans from across the world to provide great coffee to customers every day,” he said.

    The product is made from the same Arabica and Robusta beans found in 7-Eleven’s famous coffee.

    “We wanted to showcase the quality of our coffee beans in new ways. More than 71 million cups are already enjoyed across Australia each year but we know some are still yet to try our iconic coffee. Seriously, our coffee beans are so good we’ve made a coffee scrub out of them!”

    The 7-Eleven Coffee Scrub is produced locally in Australia, is 100% naturally derived, vegan and cruelty-free.

    The limited-edition 7-Eleven Coffee Body Scrub will be available to purchase for $1 with every purchase over $20 via Adore Beauty on 22nd March 2022, strictly while stocks last.

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  • Cebu Pacific Equips Airbus A330neo fleet with SITA Swiftbroadband Cockpit Connectivity

    Cebu Pacific Equips Airbus A330neo fleet with SITA Swiftbroadband Cockpit Connectivity

    Cebu Pacific Air, the Manila, Philippines-based low cost airline, will equip its fleet of Airbus A330neo aircraft with an upgraded form of SITA for Aircraft’s AIRCOM cockpit connectivity technology with Swiftbroadband-Safety (SB-S).

    The AIRCOM connectivity is being factory-installed on a fleet of 16 new A330neos from an Airbus order first placed by Cebu Pacific in 2019, that now also includes a Flight Hour Services (FHS) materials management contract signed by the two companies during the 2022 Singapore Air Show last month. SITA first signed a global connectivity services distribution agreement with Inmarsat in 2017 to start leveraging Swiftbroadband-Safety within its suite of cockpit communication applications that it now brands as AIRCOM Cockpit Services.

    SB-S is Inmarsat’s Aircraft Communication, Addressing and Reporting System (ACARS) over Internet Protocol (IP) networking technology that permits previous aircraft data transmissions solely done over the legacy ACARS network to be done faster and cheaper using IP as a gateway for air-to-ground and aircraft-to-controller data transmissions and messaging.

    Sumesh Patel, President of Asia Pacific, SITA, said in a statement that “Cebu Pacific is the first airline to take advantage of these capabilities to boost safety and deliver greater operational efficiencies on their new fleet.”

    Three specific connection types are provided over SB-S, including character-based ACARS data services for Automatic Dependent Surveillance – Contract (ADS-C) and Controller Pilot Data Link Communications (CPDLC). ADS-C, CPDLC, real-time prison reporting, and flight data streaming along with aircraft performance data downloads can also be provided over the SB-S prioritized IP channel. Additionally, the regular IP channel can be used as a voice and data communication channel for Airline Administrative Control (AAC) and Airline Operations Center (AOC) applications.

    According to SITA, some of the specific applications Cebu Pacific can use on AIRCOM with SB-S that are not enabled without Swiftbroadband include real-time updates for flight optimization tools and graphical weather applications.

    The SITA cockpit connectivity agreement for Cebu Pacific comes following the airline’s announcement earlier this month that it will begin expanding its domestic network, including re-starting flights to Siargao, Surigao, and Calbayog after closing those and many other routes due to COVID-19 related travel restrictions.

    Cebu Pacific received its first A330neo in December and now has two of the 459-seat aircraft in its fleet. Mike Szucs, Chief Executive Adviser at Cebu Pacific, expects every Airbus model aircraft in its fleet to feature the new engine option variant by 2027.

    “We turned to SITA given their expertise in the aircraft domain to help us navigate the challenges and complexities of the aircraft communications landscape, and prepare us for that future,” Javier Massot, Chief Operations Adviser, Cebu Pacific Air, said in a statement. “Having high-speed connectivity and greater capacity is essential to access more advanced digital applications that support decision-making onboard. It will enable our pilots and operational staff to access information in real-time and deliver a better service for our passengers.”

  • VietinBank Securities eyes another record year

    VietinBank Securities eyes another record year

    VietinBank Securities eyes record profits again this year through the stock market itself is likely to be down.

    Its board has approved a profit target of VND505 billion ($22 million), 5 percent up from last year.

    Last year pre-tax profits tripled to VND480 billion on revenues of VND1.06 trillion.

    Tran Phuc Vinh, its chairman, said though the stock market is no longer booming like last year and growth is likely to be slower this year, he expected the number of new retail investors to keep rising.

    “We need to invest in technology, and increase salaries, bonuses, and commissions to attract more brokers and collaborators”.

    The brokerage is also set to enter corporate bond consultancy and distribution and step up financial activities by raising its margin rate to 200 percent of shares owned.

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  • WhatsApp now lets you react to messages

    WhatsApp now lets you react to messages

    Last month, we reported that WhatsApp was working on several new features, including search message shortcuts, and message reactions, and now the latter has finally started rolling out to users.

    The feature was first uncovered by WABetaInfo, and it seems that WhatsApp is ready to push message reactions to users running version 2.22.8.3. It is worth mentioning that this version is not the official stable one, and it is only available to Beta testers.

    Nevertheless, the fact that the feature is entering the beta version means that we would probably see it in the final stable release pretty soon. The reactions themselves are pretty similar to what other chat apps have been doing in the past couple of years, the likes of Telegram, Discord, and Slack

    According to WABetaInfo, there are six reactions to choose from – Like, Love, Laugh, Surprised, Sad, and Thanks. Even though message reactions are only available to beta testers at the moment, every WhatsApp user should be able to see them in chats.

    Have you noticed these reactions in your WhatsApp everyday chit-chat?

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  • Some users are locked out of FB account if they didn’t to set up Facebook Protect

    Some users are locked out of FB account if they didn’t to set up Facebook Protect

    At the beginning of this month, some Facebook users received an email from the company to enable Facebook Protect for their accounts. However, many people seem to have ignored the email, as some generally thought it was just spam, in failing to activate Facebook Protect, some people are now locked out of their accounts.As you may have heard, not everyone has gotten emails urging them to enable Facebook Protect. According to Meta, this feature is specifically targeted at journalists, people who could generally be targeted by malicious users, including human rights activists and government officials. Emails urging them to activate Facebook Protect were coming from security@facebookmail.com and generally could have been ignored as spam.

    However, the emails were legitimate. Users had until March 17 to sign up for Facebook Protect, which is, long story short, a two-factor authentication system to improve the security of Facebook accounts. The emails that were sent had a link to sign up for Facebook Protect.

    And now, it seems some of the users who didn’t sign up (but had received the email) have trouble logging into their accounts and getting back on Facebook. Reportedly, Facebook has given info to the affected users on how to get back to their accounts, but it seems that it is not working for everyone. Some of the users took it to Twitter in order to get a fix for the situation.

    Facebook’s Head of Security Policy at Meta, Nathaniel Gleicher, has acknowledged the issue on Twitter and has announced they are working on the cases where people have been locked out of their Facebook accounts and trying to fix the issues.

    Generally, Facebook (as well as any other platform) recommends every user use two-factor authentication for their accounts for security reasons. However, the Facebook Protect program is specifically designed for people who are more likely to get attacked by hackers in comparison to the average Facebook user.

    For the regular user, no action is required unless you’re prompted by Facebook to enroll in Facebook Protect. It is a program that helps the set group of people to have stronger account security protections, such as two-factor authentication, but at the same time, monitors for potential hacking threats.

    The program was first tested in 2018 and expanded in 2020 in the United States. The global expansion of Facebook Protect started in September of 2021. According to a blog post by Meta on the topic, back in December, around 1.5 million accounts have the Facebook Protect feature enabled.

    Basically, it makes two-factor authentication easier and provides a better user experience and support, according to Meta. A similar requirement is related to Page admins that have enrolled Pages. They are required to go through Page Publishing Authorization to ensure the security of the Page. This process has to be made regardless of whether the individual Page admin has decided to enroll in the Facebook Protect program or not.

    It seems that Facebook is trying to step up its game when it comes to security on the social media platform, but not only that: as we reported recently, it is also actively fighting misinformation in an attempt to make the platform safer. The thing is, you probably have heard that in the past, Facebook has been heavily criticized for allowing misinformation to spread on there, and since then, the company has worked to prevent it.

    The latest step that Facebook has taken in this direction is a new set of group Admin tools aimed at preventing misinformation.

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  • Netflix subscribers are getting more free mobile games this month

    Netflix subscribers are getting more free mobile games this month

    Netflix’s games library is getting bigger every month, as the streaming service signs new partnerships with mobile game developers and publishers. The latest batch of games coming to Netflix subscribers include a variety of genres yet are made by just two studios.

    The first two games are hitting Netflix games platform today, while a third title will be available at a later date. Starting today, Netflix subscribers will have access to Shatter Remastered and This Is A True Story, developed by PikPok and Frosty Pop, respectively.

    Shatter Remastered is a brick-breaking game that mixes classic action with interesting twists and challenging boss battles. It seems to draw inspiration from the retro Arkanoid games. As the name suggests, this is an updated version of Shatter, a game that was originally released on PlayStation 3 back in 2009.

    This Is A True Story is a narrative puzzle game that tells the true story of a Sub-Saharan African woman’s daily struggle to get water for her family. According to developer Frosty Pop, the game is based on actual interviews and experiences and has been designed to allow players to explore beautiful scenery while surviving a windstorm or catching poachers.

    Finally, a third title, Into The Dead 2: Unleashed, is coming soon to Netflix. The sequel to hit zombie action game Into the Dead promises multiple chapters, dozens of stages, as well as hundreds of challenges.

    All games can be downloaded directly from the Netflix mobile app or from the Apple or Google app store. Also, all three are available on both iOS and Android platforms.

  • Korea Seven’s takeover of rival Ministop cleared by regulator

    Korea Seven’s takeover of rival Ministop cleared by regulator

    South Korea’s antitrust regulator said Tuesday it has decided to approve a deal by Korea Seven Co., the operator of 7-Eleven convenience stores, to buy its smaller rival Ministop Korea Co.

    In January, the country’s retail giant Lotte inked a deal to acquire a 100 percent stake in Ministop Korea for 313.3 billion won (US$257 million). Korea Seven, an affiliate of Lotte, eventually bought Ministop Korea.

    The Fair Trade Commission (FTC) said it has given the green light to the deal, saying that the takeover is not expected to hamper market competition.

    South Korea’s convenience store market has been dominated by BGF Retail’s CU and GS Group’s GS25, with 7-Eleven, Shinsegae Group’s Emart 24 and Ministop being minor players.

    The FTC said its approval is expected to spur three-way competition in the market as the takeover will help Korea Seven cement its market status as the No. 3 player.

    Korea Seven operates around 11,170 convenience stores across the country.

    Ministop is an affiliate of the Japanese retail group Aeon Group and opened its Korean operation in 1990 via a business tie-up with South Korea’s leading food maker Daesang. Ministop Korea runs around 2,600 convenience stores.

  • Canada Goose ramps up Japan expansion with Sazaby League

    Canada Goose ramps up Japan expansion with Sazaby League

    Canada Goose Holdings Inc. (“Canada Goose” or the “Company”) and longstanding partner Sazaby League Ltd. (“Sazaby League”) have entered into an agreement to create the joint venture Canada Goose Japan, with plans to accelerate DTC expansion, including stores.

    This agreement will replace an exclusive national distributor arrangement between Sazaby League and Canada Goose. Commencing in April, the existing distribution will be assumed by the joint venture, of which each partner will own 50 per cent. Current distribution includes a permanent Canada Goose retail store in Tokyo, a national e-Commerce site, as well as wholesale points of distribution across the country. The new operating model is expected to significantly increase revenue and gross profit per unit from the existing business. Canada Goose Japan is also expected to generate C$60m – C$65m in total revenue in fiscal 2023, which is roughly double the contribution from this market in fiscal 2022.

    “Japan is one of the world’s largest and most influential luxury markets and has long been an important consumer market for Canada Goose,” said Dani Reiss, President & CEO, Canada Goose. “This new agreement sets the stage for the acceleration of our growth in Japan, across both DTC and wholesale. We are excited to expand our existing operations with Sazaby League and know their successful history building strong consumer brands in the market will help drive us forward.”

    “We are proud to partner with Canada Goose and to be part of their continued growth in Japan,” said Yoji Hirai, CEO of Canada Goose Japan. “Canada Goose is a global performance luxury lifestyle brand, known for their unparallel product and industry-leading sustainability commitme

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  • Apple services were down, some have been restored

    Apple services were down, some have been restored

    Bloomberg reports that Apple services outage was caused by domain name system (DNS) issues. These usually are caused by human errors and happen when a server is unable to connect to an internet protocol address.

    The problem unsurprisingly didn’t just impact at-home consumers, but also those who work from home and retail workers. As noted by the outlet, such massive outages are rare for Apple. Amazon, Google, and some wireless carriers also faced similar issues around the same time, but not of this magnitude.

    Update (1): All the services are now back up. It appears that the problem lasted more than 3 hours and it’s not known what led to it.

    The original story continues below:

    If you are having a problem accessing Apple services, it’s not just you, as many of the Cupertino giant’s services, including iCloud are down currently. A quick look at Apple’s System Status page shows multiple services, including App Store, Apple Arcade, Apple Fitness+, and Podcasts are experiencing outages.

    Apple is actively working to resolve the issues, and a number of services that were previously affected have been restored. These include, but are not limited to, Device Enrollment Program, Find My, iCloud Account & Sign In, and most Maps-related functions.

    Per site status tracking platform Downdetector, over 4,000 users have reported problems with Apple Music so far, and around 4,000 said they faced problems with iCloud.

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  • AirAsia adds more domestic flights as demand surges

    AirAsia adds more domestic flights as demand surges

    Beginning April 1, AirAsia Philippines is adding more weekly flights to the country’s top tourist destinations, including Boracay, Puerto Princesa and Cebu, after seeing a recent surge in bookings.

    The low-cost airline, in a statement on Friday, said that it will increase by at least ten times the weekly flight frequencies to Kalibo, Boracay, Iloilo, Tacloban, Panglao, Puerto Princesa, Bacolod, Davao and Cebu next month in anticipation of foreign arrivals amid the easing of mobility restrictions.

    “The influx of foreign tourists into the country will definitely signify the strong recovery of the Philippine aviation industry. Our guests’ eagerness to travel has already manifested with the increase in AirAsia’s forward booking from 30 to 60 days,” AirAsia Philippines spokesperson Steve Dailisan said.

    As of March 18, Dailisan said they are “seeing a 97-percent increase in seats sold for travel in the month of April alone, with Boracay, Bohol, Cebu, Kalibo and Puerto Princesa on the top spots of the most booked destinations.”

    For fully vaccinated foreign visitors, the airline said that vaccination cards are the only entry requirement.

    By April 8, AirAsia will add Dumaguete City, which is the gateway to Negros Oriental, every Monday, Wednesday, Friday and Sunday in its route network.

    Manila-Roxas flights, meanwhile, will be available beginning June 16.

    The airline also offers an add-on comprehensive travel insurance plan for as low as P230 for foreign and local travelers as an “added layer of safety and protection.”

    AirAsia Philippines is ramping up its vaccination efforts with 85 percent of its workforce having received COVID-19 booster shots.

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  • Vietnam unable to match minimum wages with living standards

    Vietnam unable to match minimum wages with living standards

    The minimum wage – minimum living standard gap has been widening for years, but there is no solution in sight as workers struggle to make ends meet.

    Vietnam first introduced the “minimum living standard” term in its 2012 Labor Law, which requires that the minimum wage must meet the minimum living standard.

    A decade later, the gap between the two has kept widening and the current minimum wage far is from matching the level needed for an average laborer to make ends meet.

    The minimum wage in Region 1, referring to the most developed areas of a province or city, has stayed unchanged at VND4.42 million ($194) since 2020, which is 5 percent shy of the official minimum living standard, according to a study by the Research Center for Employment Relations.

    When compared with the acceptable living standard, the figure is 41 percent lower, it said.

    One of the reasons for such a wide gap is that the starting point of the minimum wage was too low, said Mai Duc Chinh, former deputy chairman of the Vietnam General Confederation of Labor.

    In 2013, representatives of businesses and workers negotiated and agreed that the first minimum wage level would be VND2.35 million, 30 percent lower than the minimum living standard at the time.

    In 2014, the labor confederation proposed that the gap be eliminated, but the Vietnam Chamber of Commerce and Industry (VCCI) and the Ministry of Labor, Invalids and Social Affairs opposed it, saying a sudden surge would hurt businesses.

    They finally agreed to increase the wage by 15 percent to VND2.7 million.

    In the following years, the minimum wage level was increased mostly to make up for inflation, which means technically the “15 percent gap” is still there, Chinh said.

    Another reason that the gap still exists is the lack of an independent organization to determine the minimum living standard, said Vu Quang Tho, former head of the Institute of Workers and Trade Union.

    Labor representatives think that raising a child costs 70 percent of an adults’ living costs, but businesses think the ratio should be around 50 percent. The labor reps also say that the average daily amount of food a worker needs is 2,300 calories, but businesses think the figure should be 2,000 calories.

    Chinh said that current labor laws allow business owners to increase workers’ salaries “according to the ability of the business,” which is something that authorities cannot evaluate and manage.

    Therefore, if a company claims to continuous losses or plunging revenues, it can keep workers’ salaries unchanged for years, which is what happened over the last two years of Covid-19.

    Do Quynh Chi, director of the Research center For Employment Relations, said many countries have shown that a well-designed minimum wage set of policy will protect workers at the “bottom” of the labor market.

    He said: “Other countries have strong union organizations, and the wage there meets minimum living standards.”

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  • Startups pin high hopes on blockchain, NFT technologies

    Startups pin high hopes on blockchain, NFT technologies

    Vietnamese startups have great expectations of the blockchain technology, envisaging practical e-commerce and entertainment impacts as the country pursues digital transformation.

    “We dream of becoming a billion-dollar company,” said Nguyen Tuan Quynh, chairman of book distributor Saigon Books, as he talked about a new project which uses blockchain in podcast and audiobook production.

    He said he wanted to create a blockchain-based platform for users, including celebrities, to produce audio content and make money. The audios will be distributed as non-fungible tokens (NFT), which are digital assets that represent objects like art, music, in-game items and videos, and have unique identifying codes. They are bought and sold online, frequently with cryptocurrency.

    “It will be a long run but we have taken the first steps. We also aim to have foreign-language to take this platform overseas,” Quynh said.

    Nguyen Tran Phi Yen, communications director of online event hosting platform Fan8.Club, is working on a project in collaboration with a hospitality partner that will create one million booking NFTs at premium hotels in Vietnam.

    “Blockchain is no longer something of the future. It has real products now.”

    Vietnamese startups have made headlines since last year with their use of the blockchain technology. Blockchain games like Axie Infinity and finance apps like Coin98 Finance have raised millions of dollars.

    Vietnam’s blockchain market is set to enjoy double-digit growth in the 2023-2027 period as 5G development across the country facilitates the formation of smart cities, according to a report by TechSci Research.

    Nguyen Thanh Nam, chairman of blockchain solutions provider OneBlock Labs, said that the technology could be used to trace origins of agriculture products, develop web browsers with better privacy protection and facilitate e-governance.

    “The government has made many efforts to create a national database using technology. With blockchain, more potentials can be reached,” he said.

    In 2020, the Vietnamese government listed blockchain a top tech research priority for application in the Fourth Industrial Revolution era.

    The Ministry of Science and Technology plans to let some blockchain companies to use the technology to try out some of their ideas for social benefits this year. Startups say they are aware of the challenges in developing the blockchain technology, high programmer salaries being one of them.

    “Hiring programmers to build a blockchain app costs four to five times that of a normal app,” said Quynh of Saigon Books said.

    Finding a team of experienced blockchain techies who understand the market is very difficult, said Nam of OneBlock Labs.

    “It is therefore crucial to start developing blockchain human resources.”

    Yen of Fan8.Club said that the world will soon have pre-established blockchain platforms for businesses to use and create their own products, and Vietnamese firms can take advantage of these instead of building everything from scratch.

    Some industry insiders have also warned about the potential to misuse blockchain.

    Pham Phuoc Nguyen, digital operations head at Coin98 Finance, said: “Not everything needs blockchain. Some can be done the traditional way.”

  • Vinamilk profits to decline for 2nd year in a row

    Vinamilk profits to decline for 2nd year in a row

    Vinamilk is set to see profits decline for a second straight year in 2022 due to rising costs of raw materials and transportation.

    Vietnam’s leading dairy company targets pre-tax profits of VND12 trillion ($524.70 million), down 7 percent from last year, though revenue is likely to grow by 5 percent to VND64 trillion. Last year, profits were down 4.4 percent from a record VND13.52 trillion in 2020.

    The company said that last year it faced many challenges including a shortage of raw materials and rising prices of animal feed and transportation.

    Animal feed prices jumped 30-40 percent last year and are set to continue to rise this year, it said. Transport costs rose by 20 percent domestically and 500 percent globally, it said. The Covid-19 pandemic also made milking difficult due to prolonged social distancing, while the rising costs of animal feed forced farmers to switch to other vocations, it added.

    But the dairy giant aims reach a profit of VND16 trillion in 2026, up 33 percent from 2022. It targets revenues of VND86.2 trillion in 2026. Vinamilk plans to achieve these targets by stepping up research into new products and using new technologies for sustainable livestock farming.

    It also eyes new growth opportunities through mergers and acquisitions and new investments. Last year its exports rose 18 percent to VND1.8 trillion and went to 57 countries and territories. Vietcombank Securities said in a recent note that Vinamilk does not have much potential for growth in the next two or three years. The segment with the most growth potential in the next two years is beef, and it plans to start importing the meat from Japan this year.

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