Technip Energies (M) SDN. BHD, a foreign shareholder, has just reported to the Securities Commission the sale of all 2.5 million PVE shares of the Petroleum Engineering Consulting Corporation - JSC (PV Engineering).
Foreign investors continuously sell Vietnamese stocks - Photo: QUANG DINH
Recently, many foreign institutional investors have withdrawn capital from numerous Vietnamese businesses. Net selling by foreign investors continued to be recorded in the first month of 2025, following a record outflow last year.
Internal conflicts within the company lead to foreign shareholders fleeing.
Technip Energies (M) SDN. BHD., a foreign shareholder, has just submitted a report to the Securities Commission regarding the sale of all 2.5 million PVE shares of the Petroleum Engineering Consulting Corporation - JSC (PV Engineering).
Following the transaction, Technip Energies (M) SDN. BHD - an institutional investor from Malaysia - reduced its ownership in PV Engineering from 10% to 0%.
Notably, this shareholder withdrew from PV Engineering amidst significant changes in the company's leadership personnel.
According to minutes submitted to the Securities Commission, the Vietnam Oil and Gas Group ( PetroVietnam ) convened an extraordinary general meeting of shareholders. At the meeting, a number of members of the board of directors were dismissed.
Currently, PVN holds 29% of PVE's capital. Mr. Ta Duc Tien, PVN's representative at PVE, has just been appointed chairman of the company's board of directors.
In addition to Mr. Le Huu Bon being dismissed from his position as chairman, three other members of the Board of Directors and several members of the Supervisory Board also ceased to hold their positions as of January 8th.
Furthermore, the minutes of the extraordinary meeting also reported that a member of the PVE Board of Directors accepted responsibility for failing to fulfill their duties and for not effectively directing the General Director...
Regarding business performance, the financial report shows that in the first six months of 2024, PVE's revenue was recorded at nearly 82 billion VND, a decrease of nearly 40% compared to the same period last year. PVE's after-tax profit decreased by 24%, to 921 million VND.
On the stock market, PVE shares are under warning and trading restrictions. After a period of decline, the share price is currently only 2,200 VND per share.
Many other businesses have also seen the withdrawal of foreign shareholders.
Also in early 2025, the investment fund TAEL Two Partners informed the Securities Commission that it had sold all 5 million VNS shares of Anh Duong Vietnam Joint Stock Company (Vinasun).
With the transaction reducing their ownership stake to 0%, the foreign shareholder has officially withdrawn from Vietnam's major taxi company after more than 11 years of investment.
Previously, according to the transaction registration, Tael Two Partners intended to sell the aforementioned shares between December 19, 2024, and January 17, 2025. However, as of January 6, the fund had completed the sale through a negotiated agreement.
After 10 years of investment, Tael Two Partners may have received over 140 billion VND in dividends from the Vietnamese taxi company. However, in terms of share price, this foreign fund's investment is currently suffering a significant loss. At the close of trading on January 7th, each VNS share was only worth 10,400 VND.
TAEL Two Partners has also been divesting from VNS for nearly a year now, amidst the taxi company's business difficulties and declining share price.
Many large corporations in the VN30 index have also seen selling activity from foreign investors.
Last year, after selling 76 million MSN shares, SK Group's ownership stake in Masan was reduced to only 3.67% of the charter capital. Consequently, SK Group is no longer a major shareholder in Masan.
Recently, Vingroup (VIC) announced that SK Investment Vina II (a subsidiary of SK Group) has registered to sell over 50.8 million shares through negotiated transactions from January 16th to February 14th. The purpose of the transaction is to restructure the investment portfolio.
If this transaction is successful, the South Korean conglomerate will only hold over 180.6 million shares. This means its ownership stake will decrease correspondingly from 6.05% to 4.72% of the capital, meaning it will no longer be a major shareholder.
Contrary to expectations of a return of foreign capital, 2024 was a record year for net selling of Vietnamese stocks by foreign investors.
Specifically, according to data from Fiintrade - Fiingroup's stock trading analysis platform, in 2024, foreign investors sold a net total of more than 93,000 billion VND (3.7 billion USD) of Vietnamese stocks, of which net selling on the HoSE was approximately 90,000 billion VND, nearly four times the amount in 2023.
Thus, cumulatively over the five years since the COVID-19 pandemic emerged, foreign investors have net sold a total of VND 167,200 billion, nearly double the net purchase value they made in the previous 13 years (2007-2019). Notably, in January 2025, foreign investors continued to net sell Vietnamese stocks with a recorded value of nearly VND 7,000 billion.
Source: https://tuoitre.vn/co-dong-nuoc-ngoai-ban-co-phieu-mot-cong-ty-cua-pvn-sach-von-ngoai-20250119211343733.htm
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