Masan realignment aimed at consumption sector

December 02, 2013 | 16:41

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Masan Group, a mega corporation in diverse fields ranging from instant noodles to tungsten mining, has said it will refocus its business on consumables and resources to increase profits.

Masan announced its plan on November 29 after setting up Masan Consumer Holdings, which has the mission of expanding the group’s consumer platform. It controls two operating platforms, Masan Consumer and Masan Consumer Ventures, the latter of which is a wholly-owned subsidiary.

Masan Consumer continues to serve as the controller of Masan Group’s food and non-alcoholic beverage businesses while Consumer Ventures is an incubation platform for high growth opportunities.

Madhur Maini, the group’s CEO of five years, has been installed as the chairman of Masan Consumer Holdings and deputy chairman of Masan Resources, and is also a member of Masan Group’s board of directors.

The group said the establishment of Masan Consumer holdings will help simplify the corporate structure by consolidating ownership of Masan Consumer under one subsidiary, Hoa Bang Lang, which will then merge into Masan Consumer Holdings. Once the process is complete, Masan Consumer Holdings will own 77.4 per cent of Masan Consumer.

The shake-up is aimed at putting more focus on Vietnam’s consumption sector.

Masan Group chairman Nguyen Dang Quang said the realignment would position the company for its next transformation.

“Madhur Maini has done an outstanding job leading Masan from a sauce company to a leading private sector champion. He will use this vision and leadership in his new role leading the transformation of Masan’s underlying businesses,” he said.

By By Tuong Thuy

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