Bien Hoa Packaging (SVI) presents plan to delist at upcoming General Meeting of Shareholders - Photo: SVI Website
The Board of Directors (BOD) of Bien Hoa Packaging Joint Stock Company (SVI) has just announced that it will present to shareholders at the extraordinary general meeting of shareholders (AGM) scheduled to take place on December 15, the termination of its status as a public company.
This move comes from the fact that SVI's shareholder structure no longer meets the minimum conditions under the Securities Law, when the proportion of shares held by retail investors has fallen below the 10% threshold.
According to the list of shareholders as of November 18, 2025, TCG Solutions Pte. Ltd. - a member company of Thai Containers Group under SCG Group (Thailand) - owns 12.07 million shares, equivalent to 94.11% of SVI's charter capital.
Meanwhile, the group of small shareholders only holds 5.89% of voting shares, much lower than the mandatory regulation of at least 100 non-major shareholders with a collective ownership ratio of 10% or more.
If approved, SVI will have to carry out a series of related procedures, including requesting to cancel its public company status at the State Securities Commission, implementing mandatory delisting of all shares on the Ho Chi Minh City Stock Exchange (HOSE) and canceling securities registration at the Vietnam Securities Depository and Clearing Corporation (VSDC).
SVI is a packaging company with a history of more than half a century, listed on HoSE since March 2012. Notably, the company's shareholder structure has changed dramatically since the end of 2020, after TCG Solutions bought more than 12 million shares to take full control.
Since then, the senior management has undergone a profound restructuring, with many key positions being appointed from the leadership team from Thailand and Japan.
Mr. Jakjit Klomsing is currently the Chairman of the Board of Directors and the Executive Director of SCG's packaging division.
How does SVI do business?
SVI's business results have been on a downward trend in recent years. Revenue peaked at over VND1,880 billion in 2022, then decreased to around VND1,500 billion in 2023 and 2024.
Profit after tax also dropped sharply from a record of about VND146 billion in 2020 to VND76 billion in 2024.
The picture was even less positive in the first nine months of 2025, when after-tax profit reached only nearly VND26 billion, equivalent to 24% of the yearly plan and the lowest level in more than 15 years. In the third quarter alone, the company recorded a loss after tax of VND296 million, while in the same period it reported a profit of VND14 billion.
Company leaders said the main reason came from a decrease in product selling prices, while raw material costs increased rapidly, causing profit margins to narrow significantly.
On the stock market, SVI shares increased by 11% last week and are currently trading around VND55,000/share (November 24). However, before that, liquidity remained low, with an average trading volume of less than 300 shares per session.
Source: https://tuoitre.vn/co-phan-ap-dao-ve-tay-nguoi-thai-cong-ty-cp-bao-bi-bien-hoa-muon-roi-san-chung-khoan-20251124160410339.htm
Comment (0)