Vinamilk to list in Singapore in H2

Friday, May 23, 2008
Vinamilk, Viet Nam's leading dairy processor, will list on the Singapore Exchange Limited (SGX) in the second half of this year, while several other Vietnamese giants will likely follow suit, an executive of the exchange said here on Wednesday.

Simon Lim Yong Hiang, Listings Director of SGX, told a seminar on Wednesday at the New World Saigon Hotel that paperwork for Vinamilk listing was being finalized.

"Vinamilk is now close to completion, and we expect the listing will come in the second half of this year. Other companies Kinh Do Corp. and Saigon Securities Inc. will also join the process soon," he said, adding several other Vietnamese companies from manufacturing, real estate and financial areas are also eyeing the chance there.

Singapore has two securities platforms - the Main Board and the Catalist, the latter being launched in last November. Given the current distressed situation of the financial sector in Vietnam, listing in Singapore can be a good choice as this will give them another gate to the capital pool.

"Singapore Exchange is the gate to the capital pool in Asia as we are open to many economies like Japan, Hong kong, South Korea, India and China among others," Lim said.

Regarding Vietnam's current bearish stock market, Lim said he is still optimistic as ups and downs are normal phases of an emerging market.

"Vietnam is not the unique case. It happens around the world. In my personal viewpoint, it will come back again soon" he told the gathering.

The seminar was held on the occasion the Hochiminh Stock Exchange, Hanoi Securities Trading Center and SGX signed a memorandum of understanding on promoting cooperation. The event was co-organized by State Securities Commission, ICH-Singapore and Alliance Group. (SGT)