for the quarter ended September 30, 2019
for the quarter ended September 30, 2019
Some of the data here are the latest available to Mekong Capital at the date of this newsletter to be circulated. It might subject to be changed/updated lately.
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In 3Q19, F88 continues to rapidly expand its footprint with 23 new branches opened, bringing the total number of branches to 106 across Vietnam. At the same time average lending balance per branch also achieved strong growth of 33% compared to 2Q19.
Nhat Tin’s net revenue increased 29% YoY in 3Q19. The growth was driven by strong demand from the core retail clients and significant growth of 37% YoY in walk-in customers group.
Following the acquisition of the cold storage facility in Ho Chi Minh City, ABA has rapidly expanded its refrigerated storage business with the volume of through-put growing 108% YoY through 30 September. The company has also grown its transportation services with the number of trips increasing 20% YoY.
Rafik Mankarious has been appointed as the Chief Executive Officer of Red Wok Cuisine, overseeing the operations of Wrap & Roll and Lau Bo Saigon Vivu. Mr. Mankarious has over 30-years’ experience in the F&B industry, largely with the McDonald’s Corporation, where he was most recently the Vice President Regional Manager of Asia overseeing 850 locations across 5 countries.
YOLA is Kaizen Private Equity’s first investment in Vietnam. By partnering with Kaizen Private Equity, YOLA gains a partner who shares the vision of educational and social impact, contributing to deliver YOLA’s mission of educating 500,000 students.
Pharmacity has opened 27 new stores in 3Q19, bringing the total number of stores to 227 nationwide. The company also expanded its presence in Dong Nai, the 6th province after Ho Chi Minh City, Binh Duong, Vung Tau, Can Tho and Hanoi.
Vua Nem has appointed Craig Schmeizer as an independent industry expert to the Board of Directors. Mr. Schmeizer is the co-founder and CEO of the Resident, the parent company of Nectar Sleep, a leading US online and Direct to Consumer mattress brand. Mr. Schmeizer will advise the company on digital marketing and strategic planning as well as assist the management team in accelerating the business’ growth.
