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In a statement to Reuters, Mobile World said it would announce the information once the deal was concluded. The sources said the deal could value Bach Hoa Xanh, Vietnam's third largest grocery chain, at around $1.5-$1.7 billion. Founded in 2015, Bach Hoa Xanh, backed by Vietnam's retail giant Mobile World Investment (MWG.HM), is running more than 1,700 stores in Vietnam's southern and south-central provinces. The Ho Chi Minh City-headquartered company had first planned the sale of a stake of up to 20% in Bach Hoa Xanh last year. Bach Hoa Xanh was expected to be profitable from next year, its managing director told investors last month.
Persons: GIC, Bach, Xanh, Yantoultra Ngui, Chayut, Kane Wu, Simon Cameron, Moore Organizations: Investment, Mobile, Revenue, Thomson Locations: SINGAPORE, HANOI, Thailand, Vietnam, China, United States, Chi Minh City, Bach Hoa, Singapore, Phuong Nguyen, Hanoi, Bangkok
Vietnam joins Southeast Asian effort on cross-border payments
  + stars: | 2023-08-25 | by ( ) www.reuters.com   time to read: +1 min
People go past the State Bank building, near the offices of Vietcombank and the Bank for Investment and Development of Vietnam, in central Hanoi, Vietnam November 23, 2017. REUTERS/Kham Acquire Licensing RightsJAKARTA, Aug 25 (Reuters) - Vietnam's central bank signed an agreement on Friday to be part of an initiative by five other Southeast Asian countries to establish a cross-border payments mechanisms between them. Vietnam will join Indonesia, Malaysia, Thailand, the Philippines and Singapore in working to connect each of their payment systems, including using the QR (quick response) code system for retail transactions. The agreement was made at a meeting of the 10-member Association of Southeast Asian Nations (ASEAN) finance ministers and central bank governors in Jakarta. Furthermore, Indonesia, Malaysia and Thailand have agreed to later facilitate cross-border transactions for financial assets like equities and government bonds in local currencies.
Persons: Perry Warjiyo, Stefanno Sulaiman, Martin Petty Organizations: Bank, Bank for Investment, Development, REUTERS, Rights, QR, Association of Southeast Asian Nations, ASEAN, Bank Indonesia, Thomson Locations: Vietcombank, Vietnam, Hanoi, Rights JAKARTA, Indonesia, Malaysia, Thailand, Philippines, Singapore, Jakarta
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