Tribeco Binh Duong Co., Ltd (Vietnam)

The subject was formerly known as one of the factories of Saigon Beverage Joint Stock Company (Tribeco, stock code TRI). In specific, TRI made some bold investment decisions in 2006 and 2007 such as putting in operation two new factories, Tribeco Binh Duong (the subject) and Northern Tribeco (in Hung Yen Province). When talking about the brand "Tribeco", it used to be voted by consumers as the best quality Vietnamese product for eleven consecutive years. TRI quickly became the point of focal interest for many domestic and foreign investment funds. However, despite the presence of these strong strategic investors, TRI was unwillingly pushed to the brink of bankruptcy instead of developing into a leading beverage brand in Vietnam. At that time, even if the Board of Management had not proactively canceled the listing, TRI would still have been forced to cancel its listing due to negative equity. With the announcement of its business dissolution, more than 27.5 million TRI shares were officially delisted on HOSE on April 2012. To ensure the interests of shareholders, TRI bought back shares from investors at VND 2,300/share, calculated at an average price in the last 60 trading days. After the decision to dissolve, all activities at TRI were transferred to Tribeco Binh Duong, a 100% foreign-owned company of Uni-President Enterprises Corp through Uni-President Vietnam Co., Ltd. Hence, after just 20 years, the Tribeco brand was fully transferred to foreign partners.As shared by admin staff, the subject specializes in manufacturing soft drinks, soy milk, bird's nest juice. The materials for production are imported from China (main market) and Singapore. Additionally, the subject has an instant noodle product development department. The subject is also playing the role of distributing and receiving purchase orders for the instant noodle products, which are produced by Uni-President Vietnam Co., Ltd. Those products (Dzai Dzai, Tung I Vegetarian Noodles, Tung I Abalone Chicken Noodle Soup, Chinese Onion Rice Noodle, Artificial Beef With Herbs Noodle, etc.) are exported to China, Singapore, and the USA.