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Tag: saigon beer

  • Saigon Beer brewer sees revenue surge by a third

    Saigon Beer brewer sees revenue surge by a third

    Saigon Beer brewer Sabeco saw revenue jump 33% from 2021 to VND35.24 trillion ($1.5 billion) last year as consumption bounced back after two years of Covid-19.

    The brewer’s post-tax profit surged nearly 40% to VND5.5 trillion, the highest level since it was sold to ThaiBev in 2017.

    “The company has improved its production efficiency and implemented cost-saving measures to minimize the impact of higher input costs,” Sabeco said in a statement. “Many promotion and marketing campaigns also helped boost sales.”

    Before the pandemic, the company spent VND3 trillion on promotion and marketing last year, double that of 2019.

    Sabeco’s revenue last year was 8% shy of the 2019 level. However, its revenue quadrupled that of its major competitior in Vietnam, Habeco, which recorded a revenue of VND8.5 trillion.

    Thapana Sirivadhanabhakdi, CEO of ThaiBev, said last year that Sabeco was its “crown jewel” and rejected rumors that the Thai company would sell the brewer.

    Valued at $26 billion, Vietnam is the biggest beer market in Southeast Asia, and No. 3 in Asia behind China and Japan, according to 2021 figures.

  • Police investigate Saigon Beer copycat

    Police investigate Saigon Beer copycat

    Police in Ba Ria-Vung Tau Province are investigating a copyright infringement involving Saigon Beer by a former employee of its brewer, Sabeco. They found over 9,000 boxes of the Saigon Vietnam Beer with the brand name and packaging similar to that of the 43-year old Saigon Beer brand produced by Sabeco, the largest brewer in Vietnam.

    The beer is distributed by the Saigon Vietnam Beer Group Jsc., not a subsidiary of Sabeco. Its CEO, Le Dinh Trung, held several positions in Sabeco for years, including assistant to the deputy CEO and head of its legal department.

    Another person involved in the copyright infringement is Tran Thi Ai Loan, a distributor of Sabeco beer for the last four years.

    The original headquarter address of Saigon Vietnam Beer Group Jsc was registered at Floor 9, Vincom Building, 72 Le Thanh Ton, District 1, Ho Chi Minh City, the same as Sabeco. Although the Saigon Vietnam Beer Group Jsc. later changed its headquarters to a different location in Binh Thanh District, its beer packaging carried the old address, confusing customers.

    Authorities said Loan, as a legal representative, had signed a contract with BiVa Beer Brewer in southern Ba Ria–Vung Tau Province to produce the Saigon Vietnam Beer and started distributing the product in May.

    The same month, Sabeco requested the Vietnam Intellectual Property Research Institute to inspect the similarities between the packaging and brand name of the two beers. The institute concluded in June that there were signs of copyright infringement, following which Sabeco requested market authorities to intervene.

    Authorities later found thousands of Saigon Vietnam Beer boxes in the southern localities of Ba Ria-Vung Tau, Binh Phuoc, Soc Trang and Can Tho as well as the Central Highlands province of Dak Lak. Each box was being sold at VND159,300 ($6.91), nearly 12 percent lower than that of Sabeco’s Saigon Beer.

    Vu Tuan Chau, owner of BiVa Beer Brewer, told authorities that they had distributed a total of 4,400 boxes so far. Chau said they only produced the beer to the requirements of Saigon Beer Vietnam and was not aware of any copyright infringement. A lawyer representing Sabeco said that the infringement has damaged their brand’s reputation and misled customers into purchasing the wrong product. Sabeco is working with authorities to continue the investigation, the lawyer said.

    No comments were available from the representatives of Saigon Beer Vietnam at the time of going to print.

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  • Vietnam’s Sabeco, taxman at loggerheads

    Vietnam’s Sabeco, taxman at loggerheads

    HCMC tax authorities have failed to collect $135.73 million in taxes and fines, while brewer Sabeco has cried foul. The Tax Department of Ho Chi Minh City informed Vietnam’s largest brewer Sabeco on December 24 that it would withdraw VND3.1 trillion ($135.73 million) from the beer company’s bank account to collect overdue special sales tax from 2007 to 2015 and penalties for administrative violations.

    However, the move failed because there was no money left in Sabeco’s Vietcombank account.

    Le Duy Minh, deputy head of the department, said that his agency has temporarily blocked Sabeco’s Vietcombank account.

    “We have asked Sabeco to provide details of other bank accounts but it has not fulfilled that request,” he said.

    But Sabeco claims that it has not violated the law.

    Sabeco general director Neo Gim Siong Bennett said in a statement Sunday that Sabeco has not violated regulations on the declaration, calculation and payment of special sales tax.

    He said the enforcement action by the HCMC Tax Department was a violation of Vietnamese laws, as it was taken “without a valid administrative decision” and “contradicts with the very written guidance issued by the Ministry of Finance, General Department of Taxation and Tax Department of HCMC.”

    He said Sabeco’s “legitimate interests are being threatened by the inconsistent views among State authorities.”

    As Sabeco is set to meet with Prime Minister Nguyen Xuan Phuc, the tax department will await the meeting’s results before taking further steps, Minh said.

    Following Sabeco’s meeting with Prime Minister Nguyen Xuan Phuc on Wednesday, the latter has asked the tax department to defer its enforcement actions.

    Mai Tien Dung, Chairman of the Prime Minister Office said that government bodies are carefully examining the case as it involves “foreign factors.”

    In December 2017, Thai Beverage acquired a 53.59 percent stake in Sabeco from Vietnam’s Ministry of Industry and Trade for $4.84 billion through a local entity, Viet Beverage (VietBev).

    Sabeco, formally known as Saigon Beer Alcohol Beverage Corp, recorded revenues of VND25.5 trillion ($1.1 billion) in the first nine months 2018, meeting 70 percent of its annual target.

    It occupies approximately 42.8 percent of the domestic beer market, according to the Ho Chi Minh City Securities Corporation. It produced nearly 1.8 trillion litres of beer in 2017.

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