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MEKONG CAPITAL – 4Q16 NEWSLETTERfor the period ended 31 December 2016
Please click here if you cannot view this e-mail in HTML. If you wish to unsubscribe from our mailing list, please reply to [email protected].
NEW INVESTMENTSDIVESTMENTS
SPOTLIGHT ON INVESTEE COMPANIES
NEW INVESTMENT
Mekong Enterprise Fund III completed an investment in F88
Investment JSC., the third investment that has been announced by
the Fund. F88 has established itself as a leading provider of
professional pawn services in Hanoi and surrounding provinces. F88
brings fast, reliable and professional financial solutions to consumers,
blowing fresh winds to the traditional pawn market in Vietnam.
DIVESTMENT
SPOTLIGHT ON INVESTEE COMPANIES
Vietnam Azalea Fund completed the sale of all of its shares in PNJ. PNJ is
the largest jewelry retailer and a leading jewelry manufacturer in Vietnam,
owning well-established brands including PNJ Gold, PNJ Silver, CAO FINE
Jewelry, and Jemma. PNJ’s distribution and retail network includes 20
branches, 202 retail stores including 126 gold jewelry stores, and more than
3,000 wholesalers nationwide as of June 2016. This divestment resulted in a
gross return multiple of 2.2x on 6.5 million shares sold. The Fund originally
invested in PNJ in December 2007.
PHU NHUAN JEWELRY
Sector: Retail of Mobile,
Consumer Electronics and FMCG
www.thegioididong.com
www.dienmayxanh.com
www.bachhoaxanh.com
map it
In 2016, MobileWorld opened a total of 606 new stores, representing an
average pace of 51 stores per month. This brought the total number to 1,255
stores across 3 brands by 31 December 2016. The aggressive store expansion
was 77% and 47% respectively. For 2017, MobileWorld targets revenues of
Traphaco reported VND210 billion in net profit*, a 17% YoY growth.
This increase was mainly driven by strong sales across high margin OTC
blockbuster products as well from continue focus to distribute products
directly to retail customers.
Traphaco is currently selling to over 23,000 individual retail pharmacies,
representing 55% of the total number of pharmacies in Vietnam.
*at parent company level.”
ABA grew the number of trucks by 165% in 2016 from 34 trucks at begin of
Sector: Pharmaceutical
www.traphaco.com.vn
TRAPHACO
MOBILEWORLD
ABA CORPORATION
map it
map it
map it
PERFORMANCE OF LISTED INVESTEE COMPANIES CURRENTLY HELD BY MEKONG CAPITAL’S FUNDS
(1) 2017 net profit estimate is Mekong Capital’s internal estimate that does not represent the official targets of investee companies or estimates
from the management teams of those companies. Mekong Capital’s estimate is subject to frequent changes as new information becomes public.
(2) This is calculated based on the unaudited net profit data of the investee companies for the year ended 31 December 2016.
CompanyName
Trading CodeShare Price(7 Feb 17)
(VND)
2017 YTD Share Price
Performance(against 31
Dec 16)
2017 Net
(VND Billion)(1)
2017 2017 Net ProfitGrowth Rate
(2)
Percent held byMekong’s funds
(7 Feb 17)
Traphaco TRA 113,000 -1% 257 15.2 21%
MobileWorld MWG 170,400 2,403 52% 5.20%
Note:
Some of data herein is the latest available to Mekong Capital at the date of this newsletter to be circulated. It might subject to be changed/updated lately
Contact details MEKONG CAPITAL
Ho Chi Minh City OfficeCapital Place, 8th floor
6 Thai Van Lung, District 1,
Ho Chi Minh City, Vietnam
Tel: (84 8) 3827 3161 - Fax: (84 8) 3827 3162
E-mail: [email protected]
www.mekongcapital.com
Ha Noi OfficeHAREC Building, 12th Floor
4A Lang Ha St., Ba Dinh District,
Hanoi, Vietnam
Tel.: (84 4) 3772 4888 - Fax: (84 4) 3772 4868
E-mail: [email protected]
www.mekongcapital.com
MOBILEWORLD OPENED MORE THAN
50 STORES PER MONTH IN 2016
FULL DIVESTMENT FROMPHU NHUAN JEWELRY (PNJ)
TRAPHACO REPORTEDVND210 BILLION IN NET
PROFIT*,A 17% YOY GROWTH
ABA GREW 165%NUMBER OF TRUCKS IN 2016
Sector: Cold-chain logistics service
www.aba.com.vn
Sector: Jewelry Retail
www.pnj.com.vn
Sector: Personal lending
www.f88.vn
map it
NEW CEO RECRUITED
ACC DOUBLED ITS SHARE CAPITAL INPREPARATION FOR LISTING
Wrap & Roll recruited a new CEO, who has 18+ years of experience in
brand, marketing and management of FMCG and F&B Industry. Previous to
Wrap & Roll, she was Country General Manager for Jollibee for 6+ years,
helped to expand Jollibee network 4x in 3 years from 2013-2016. She is
now in charge of expanding Wrap & Roll’s business in the Vietnam market.
The founder of Wrap & Roll continues to hold the position of Executive
Chairwoman, in charge of expanding the business franchise to the overseas
markets.
WRAP & ROLL
Sector: Restaurant Chain
www.wrap-roll.com
map it
During the 4th quarter, ACC doubled its share capital to VND246 billion in
preparation for an eventual listing on Vietnam’s stock exchange. ACC is a
Registered Public Company, is audited by Ernst & Young, and meets the
criteria for a public listing on the HOSE. The company currently plans to list
after completing 1-2 M&A transactions.
ASIA CHEMICALCORPORATION (“ACC”)
Sector: Distribution of Specialty Chemicals
www.asia-chemical.com
MEKONG CAPITAL – 4Q16 NEWSLETTERfor the period ended 31 December 2016
Please click here if you cannot view this e-mail in HTML. If you wish to unsubscribe from our mailing list, please reply to [email protected].
NEW INVESTMENTSDIVESTMENTS
SPOTLIGHT ON INVESTEE COMPANIES
NEW INVESTMENT
Mekong Enterprise Fund III (MEF III) completed an investment in F88
Investment JSC.,. the third investment that has been announced by the
Fund. F88 has established itself as a leading provider of professional pawn
services in Hanoi and surrounding provinces. F88 brings fast, reliable and
professional financial solutions to consumers, blowing fresh winds to the
traditional pawn market in Vietnam.
DIVESTMENT
SPOTLIGHT ON INVESTEE COMPANIES
Vietnam Azalea Fund completed the sale of all of its shares in PNJ. PNJ
is the largest jewelry retailer and manufacturer in Vietnam, owning well-
established brands including PNJ Gold, PNJ Silver, CAO FINE Jewelry,
and Jemma. PNJ’s distribution and retail network includes 20
branches, 202 retail stores including 126 gold jewelry stores, and more
than 3,000 wholesalers nationwide as of June 2016. This divestment
resulted in a gross return multiple of 2.2x on 6.5 million shares sold. The
Fund originally invested in PNJ in December 2007.
PHU NHUAN JEWELRY
Sector: Retail of Mobile,
Consumer Electronics and FMCG
www.thegioididong.com
www.dienmayxanh.com
www.bachhoaxanh.com
In 2016, MobileWorld opened a total of 606 new stores, representing an
average pace of 51 stores per month. This brought the total number to 1,255
stores across 3 brands by 31 December 2016. The aggressive store expansion
was 77% and 47% respectively. For 2017, MobileWorld targets revenues of
Traphaco reported VND210 billion in net profit*, a 17% YoY growth.
This increase was mainly driven by strong sales across high margin OTC
blockbuster products as well from continue focus to distribute products
directly to retail customers.
Traphaco is currently selling to over 23,000 individual retail pharmacies,
representing 55% of the total number of pharmacies in Vietnam.
*at parent company level.”
ABA grew the number of trucks by 165% in 2016 from 34 trucks at begin of
Sector: Pharmaceutical
www.traphaco.com.vn
TRAPHACO
MOBILEWORLD
ABA CORPORATION
map it
map it
map it
PERFORMANCE OF LISTED INVESTEE COMPANIES CURRENTLY HELD BY MEKONG CAPITAL’S FUNDS
(1) 2017 net profit estimate is Mekong Capital’s internal estimate that does not represent the official targets of investee companies or estimates
from the management teams of those companies. Mekong Capital’s estimate is subject to frequent changes as new information becomes public.
(2) This is calculated based on the unaudited net profit data of the investee companies for the year ended 31 December 2016.
CompanyName
Trading CodeShare Price(7 Feb 17)
(VND)
2017 YTD Share Price
Performance(against 31
Dec 16)
2017 Net
(VND Billion)(1)
2017 2017 Net ProfitGrowth Rate
(2)
Percent held byMekong’s funds
(7 Feb 17)
Traphaco TRA 113,000 -1% 257 15.2 21%
MobileWorld MWG 170,400 2,403 52% 5.20%
Note:
Some of data herein is the latest available to Mekong Capital at the date of this newsletter to be circulated. It might subject to be changed/updated lately
Contact details MEKONG CAPITAL
Ho Chi Minh City OfficeCapital Place, 8th floor
6 Thai Van Lung, District 1,
Ho Chi Minh City, Vietnam
Tel: (84 8) 3827 3161 - Fax: (84 8) 3827 3162
E-mail: [email protected]
www.mekongcapital.com
Ha Noi OfficeHAREC Building, 12th Floor
4A Lang Ha St., Ba Dinh District,
Hanoi, Vietnam
Tel.: (84 4) 3772 4888 - Fax: (84 4) 3772 4868
E-mail: [email protected]
www.mekongcapital.com
MOBILEWORLD OPENED MORE THAN
50 STORES PER MONTH IN 2016
FULL DIVESTMENT FROM PHU NHUAN JEWELRY (PNJ)
TRAPHACO REPORTEDVND210 BILLION IN NET
PROFIT*,A 17% YOY GROWTH
ABA GREW 165%NUMBER OF TRUCKS IN 2016
Sector: Cold-chain logistics service
www.aba.com.vn
Sector: Jewelry Retail
www.pnj.com.vn
Sector: Personal-lending
www.f88.vn
map it
NEW CEO RECRUITED
ACC DOUBLED ITS SHARE CAPITAL INPREPARATION FOR LISTING
Wrap & Roll recruited a new CEO, who has 18+ years of experience in
brand, marketing and management of FMCG and F&B Industry. Previous to
Wrap & Roll, she was Country General Manager for Jollibee for 6+ years,
helped to expand Jollibee network 4x in 3 years from 2013-2016. She is
now in charge of expanding Wrap & Roll’s business in the Vietnam market.
The founder of Wrap & Roll continues to hold the position of Executive
Chairwoman, in charge of expanding the business franchise to the overseas
markets.
WRAP & ROLL
Sector: Restaurant Chain
www.wrap-roll.com
map it
During the 4th quarter, ACC doubled its share capital to VND246 billion in
preparation for an eventual listing on Vietnam’s stock exchange. ACC is a
Registered Public Company, is audited by Ernst & Young, and meets the
criteria for a public listing on the HOSE. The company currently plans to list
after completing 1-2 M&A transactions.
ASIA CHEMICALCORPORATION (“ACC”)
Sector: Distribution of Specialty Chemicals
www.asia-chemical.com
MEKONG CAPITAL – 4Q16 NEWSLETTERfor the period ended 31 December 2016
Please click here if you cannot view this e-mail in HTML. If you wish to unsubscribe from our mailing list, please reply to [email protected].
NEW INVESTMENTSDIVESTMENTS
SPOTLIGHT ON INVESTEE COMPANIES
NEW INVESTMENT
Mekong Enterprise Fund III (MEF III) completed an investment in F88
Investment JSC.,. the third investment that has been announced by the
Fund. F88 has established itself as a leading provider of professional pawn
services in Hanoi and surrounding provinces. F88 brings fast, reliable and
professional financial solutions to consumers, blowing fresh winds to the
traditional pawn market in Vietnam.
DIVESTMENT
SPOTLIGHT ON INVESTEE COMPANIES
Vietnam Azalea Fund completed the sale of all of its shares in PNJ. PNJ is
the largest jewelry retailer and a leading jewelry manufacturer in Vietnam,
owning well-established brands including PNJ Gold, PNJ Silver, CAO FINE
Jewelry, and Jemma. PNJ’s distribution and retail network includes 20
branches, 202 retail stores including 126 gold jewelry stores, and more than
3,000 wholesalers nationwide as of June 2016. This divestment resulted in a
gross return multiple of 2.2x on 6.5 million shares sold. The Fund originally
invested in PNJ in December 2007.
PHU NHUAN JEWELRY
Sector: Retail of Mobile,
Consumer Electronics and FMCG
www.thegioididong.com
www.dienmayxanh.com
www.bachhoaxanh.com
map it
In 2016, MobileWorld opened a total of 606 new stores, representing an
average pace of 51 stores per month. This brought the total number to 1,255
stores across 3 brands by 31 December 2016. The aggressive store expansion
was 77% and 47% respectively. For 2017, MobileWorld targets revenues of
Traphaco reported VND210 billion in net profit*, a 17% YoY growth.
This increase was mainly driven by strong sales across high margin OTC
blockbuster products as well from continue focus to distribute products
directly to retail customers.
Traphaco is currently selling to over 23,000 individual retail pharmacies,
representing 55% of the total number of pharmacies in Vietnam.
*at parent company level.”
ABA grew the number of trucks by 165% in 2016 from 34 trucks at begin of
Sector: Pharmaceutical
www.traphaco.com.vn
TRAPHACO
MOBILEWORLD
ABA CORPORATION
map it
map it
PERFORMANCE OF LISTED INVESTEE COMPANIES CURRENTLY HELD BY MEKONG CAPITAL’S FUNDS
(1) 2017 net profit estimate is Mekong Capital’s internal estimate that does not represent the official targets of investee companies or estimates
from the management teams of those companies. Mekong Capital’s estimate is subject to frequent changes as new information becomes public.
(2) This is calculated based on the unaudited net profit data of the investee companies for the year ended 31 December 2016.
CompanyName
Trading CodeShare Price(7 Feb 17)
(VND)
2017 YTD Share Price
Performance(against 31
Dec 16)
2017 Net
(VND Billion)(1)
2017 2017 Net ProfitGrowth Rate
(2)
Percent held byMekong’s funds
(7 Feb 17)
Traphaco TRA 113,000 -1% 257 15.2 21%
MobileWorld MWG 170,400 2,403 52% 5.20%
Note:
Some of data herein is the latest available to Mekong Capital at the date of this newsletter to be circulated. It might subject to be changed/updated lately
Contact details MEKONG CAPITAL
Ho Chi Minh City OfficeCapital Place, 8th floor
6 Thai Van Lung, District 1,
Ho Chi Minh City, Vietnam
Tel: (84 8) 3827 3161 - Fax: (84 8) 3827 3162
E-mail: [email protected]
www.mekongcapital.com
Ha Noi OfficeHAREC Building, 12th Floor
4A Lang Ha St., Ba Dinh District,
Hanoi, Vietnam
Tel.: (84 4) 3772 4888 - Fax: (84 4) 3772 4868
E-mail: [email protected]
www.mekongcapital.com
MOBILEWORLD OPENED MORE THAN
50 STORES PER MONTH IN 2016
FULL DIVESTMENT FROMPHU NHUAN JEWELRY (PNJ)
TRAPHACO REPORTED VND210 BILLION IN NET
PROFIT*
ABA GREW 165%NUMBER OF TRUCKS IN 2016
Sector: Cold-chain logistics service
www.aba.com.vn
Sector: Jewelry Retail
www.pnj.com.vn
Sector: Personal-lending
www.f88.vn
map it
NEW CEO RECRUITED
ACC DOUBLED ITS SHARE CAPITAL INPREPARATION FOR LISTING
Wrap & Roll recruited a new CEO, who has 18+ years of experience in
brand, marketing and management of FMCG and F&B Industry. Previous to
Wrap & Roll, she was Country General Manager for Jollibee for 6+ years,
helped to expand Jollibee network 4x in 3 years from 2013-2016. She is
now in charge of expanding Wrap & Roll’s business in the Vietnam market.
The founder of Wrap & Roll continues to hold the position of Executive
Chairwoman, in charge of expanding the business franchise to the overseas
markets.
WRAP & ROLL
Sector: Restaurant Chain
www.wrap-roll.com
map it
During the 4th quarter, ACC doubled its share capital to VND246 billion in
preparation for an eventual listing on Vietnam’s stock exchange. ACC is a
Registered Public Company, is audited by Ernst & Young, and meets the
criteria for a public listing on the HOSE. The company currently plans to list
after completing 1-2 M&A transactions.
ASIA CHEMICALCORPORATION (“ACC”)
Sector: Distribution of Specialty Chemicals
www.asia-chemical.com
MEKONG CAPITAL – 4Q16 NEWSLETTERfor the period ended 31 December 2016
Please click here if you cannot view this e-mail in HTML. If you wish to unsubscribe from our mailing list, please reply to [email protected].
NEW INVESTMENTSDIVESTMENTS
SPOTLIGHT ON INVESTEE COMPANIES
NEW INVESTMENT
Mekong Enterprise Fund III (MEF III) completed an investment in F88
Investment JSC.,. the third investment that has been announced by the
Fund. F88 has established itself as a leading provider of professional pawn
services in Hanoi and surrounding provinces. F88 brings fast, reliable and
professional financial solutions to consumers, blowing fresh winds to the
traditional pawn market in Vietnam.
DIVESTMENT
SPOTLIGHT ON INVESTEE COMPANIES
Vietnam Azalea Fund completed the sale of all of its shares in PNJ. PNJ is
the largest jewelry retailer and a leading jewelry manufacturer in Vietnam,
owning well-established brands including PNJ Gold, PNJ Silver, CAO FINE
Jewelry, and Jemma. PNJ’s distribution and retail network includes 20
branches, 202 retail stores including 126 gold jewelry stores, and more than
3,000 wholesalers nationwide as of June 2016. This divestment resulted in a
gross return multiple of 2.2x on 6.5 million shares sold. The Fund originally
invested in PNJ in December 2007.
PHU NHUAN JEWELRY
Sector: Retail of Mobile,
Consumer Electronics and FMCG
www.thegioididong.com
www.dienmayxanh.com
www.bachhoaxanh.com
map it
In 2016, MobileWorld opened a total of 606 new stores, representing an
average pace of 51 stores per month. This brought the total number to 1,255
stores across 3 brands by 31 December 2016. The aggressive store expansion
was 77% and 47% respectively. For 2017, MobileWorld targets revenues of
Traphaco reported VND210 billion in net profit*, a 17% YoY growth.
This increase was mainly driven by strong sales across high margin OTC
blockbuster products as well from continue focus to distribute products
directly to retail customers.
Traphaco is currently selling to over 23,000 individual retail pharmacies,
representing 55% of the total number of pharmacies in Vietnam.
*at parent company level.”
ABA grew the number of trucks by 165% in 2016 from 34 trucks at begin of
Sector: Pharmaceutical
www.traphaco.com.vn
TRAPHACO
MOBILEWORLD
ABA CORPORATION
map it
map it
map it
PERFORMANCE OF LISTED INVESTEE COMPANIES CURRENTLY HELD BY MEKONG CAPITAL’S FUNDS
(1) 2017 net profit estimate is Mekong Capital’s internal estimate that does not represent the official targets of investee companies or estimates
from the management teams of those companies. Mekong Capital’s estimate is subject to frequent changes as new information becomes public.
(2) This is calculated based on the unaudited net profit data of the investee companies for the year ended 31 December 2016.
Company Name
Trading CodeShare Price(10 Feb 17)
(VND)
2017 YTD Share Price
Performance(against 31
Dec 16)
2017 Net
(VND Billion)(1)
2017 2017 Net ProfitGrowth Rate
(2)
Percent held byMekong’s funds
(10 Feb 17)
Traphaco TRA 118,000 4% 257 15.9 21%
MobileWorld MWG 168,300 8 2,275 1 4 44% 5.20%
Note:
Some of data herein is the latest available to Mekong Capital at the date of this newsletter to be circulated. It might subject to be changed/updated lately
Contact details MEKONG CAPITAL
Ho Chi Minh City OfficeCapital Place, 8th floor
6 Thai Van Lung, District 1,
Ho Chi Minh City, Vietnam
Tel: (84 8) 3827 3161 - Fax: (84 8) 3827 3162
E-mail: [email protected]
www.mekongcapital.com
Ha Noi Office HAREC Building, 12th Floor
4A Lang Ha St., Ba Dinh District,
Hanoi, Vietnam
Tel.: (84 4) 3772 4888 - Fax: (84 4) 3772 4868
E-mail: [email protected]
www.mekongcapital.com
MOBILEWORLD OPENED MORE THAN
50 STORES PER MONTH IN 2016
FULL DIVESTMENT FROMPHU NHUAN JEWELRY (PNJ)
TRAPHACO REPORTEDVND210 BILLION IN NET
PROFIT*,A 17% YOY GROWTH
ABA GREW 165%NUMBER OF TRUCKS IN 2016
Sector: Cold-chain logistics service
www.aba.com.vn
Sector: Jewelry Retail
www.pnj.com.vn
Sector: Personal-lending
www.f88.vn
map it
NEW CEO RECRUITED
ACC DOUBLED ITS SHARE CAPITAL INPREPARATION FOR LISTING
Wrap & Roll recruited a new CEO, who has 18+ years of experience in
brand, marketing and management of FMCG and F&B Industry. Previous to
Wrap & Roll, she was Country General Manager for Jollibee for 6+ years,
helped to expand Jollibee network 4x in 3 years from 2013-2016. She is
now in charge of expanding Wrap & Roll’s business in the Vietnam market.
The founder of Wrap & Roll continues to hold the position of Executive
Chairwoman, in charge of expanding the business franchise to the overseas
markets.
WRAP & ROLL
Sector: Restaurant Chain
www.wrap-roll.com
map it
During the 4th quarter, ACC doubled its share capital to VND246 billion in
preparation for an eventual listing on Vietnam’s stock exchange. ACC is a
Registered Public Company, is audited by Ernst & Young, and meets the
criteria for a public listing on the HOSE. The company currently plans to list
after completing 1-2 M&A transactions.
ASIA CHEMICALCORPORATION (“ACC”)
Sector: Distribution of Specialty Chemicals
www.asia-chemical.com
