vietnam-oman investment joint stock...

Vietnam-Oman Investment Joint Stock CompanySuite 3, 18th Floor, Bitexco Financial Tower, 2 Hai Trieu Street, District 1, Ho Chi Minh City

T: +84 8 6291 8882 F: +84 8 6291 8879

Since its inception, Vietnam-Oman Investment (VOI) has taken prodigious steps to become a truly dynamic investment platform for the State General Reserve Fund of Oman in Vietnam.

With the management team’s extensive experience in the local market, VOI has managed to progress well in securing investments with strong fundamentals and good returns for its shareholders.

We are proud of this successful joint venture and we look forward to even greater achievements.

Our collective focus is to enhance and extract value from sectors that play a vital role in Vietnamʼs growth story. These sectors include infrastructure, consumption, agriculture, mining and manufacturing, etc.

Vietnam’s growth story is explained by its political stability, a favorable demographic structure, its strong position within the global value chain and the expansion of consumption along with its rising wealth. These fundamental characteristics are key to our long term investment vision for Vietnam.

ChairmanVietnam-Oman Investment (VOI)

Chief Financial OfficerState General Reserve Fund (SGRF)Ministry of Finance, Sultanate of Oman

Mr. Abdullah SalimAbdullah Al Harthi

CHAIRMANʼS MESSAGE

Since its inception, Vietnam-Oman Investment (VOI) has taken prodigious steps to become a truly dynamic investment platform for the State General Reserve Fund of Oman in Vietnam.

With the management team’s extensive experience in the local market, VOI has managed to progress well in securing investments with strong fundamentals and good returns for its shareholders.

We are proud of this successful joint venture and we look forward to even greater achievements.

Our collective focus is to enhance and extract value from sectors that play a vital role in Vietnamʼs growth story. These sectors include infrastructure, consumption, agriculture, mining and manufacturing, etc.

Vietnam’s growth story is explained by its political stability, a favorable demographic structure, its strong position within the global value chain and the expansion of consumption along with its rising wealth. These fundamental characteristics are key to our long term investment vision for Vietnam.

ChairmanVietnam-Oman Investment (VOI)

Mr. Abdullah SalimAbdullah Al Harthi

CHAIRMANʼS MESSAGE

Building on the support of the two government-backed entities, our investments focus on growth sectors that enjoy the competitive advantage of Vietnam and contribute to the long term sustainable growth of the economy. Our goal is to become a leading private equity house in Vietnam and solidly build up a capital bridge between the Sultanate of Oman and Vietnam.

Vietnam-Oman Investment (VOI) is founded as a joint venture between the State General Reserve Fund of Oman and the State Capital Investment Corporation of Vietnam in 2009, with an initial committed fund of US$100million.

OVERVIEW

VOIʼs increased managed fund

Our first investment was Vinh Son Song

Hinh Hydropower (VSH), the second

largest listed hydropower plant in

Vietnam. By 2015, we have expanded

our investments to other companies

and projects in various sectors such as

clean water, toll roads, health care and

financial services.

VOIʼs first investmentVOIʼs establishment

INITIAL COMMITTED FUND INCREASED COMMITTED FUND FROM SGRF TO

Building on the support of the two government-backed entities, our investments focus on growth sectors that enjoy the competitive advantage of Vietnam and contribute to the long term sustainable growth of the economy. Our goal is to become a leading private equity house in Vietnam and solidly build up a capital bridge between the Sultanate of Oman and Vietnam.

Vietnam-Oman Investment (VOI) is founded as a joint venture between the State General Reserve Fund of Oman and the State Capital Investment Corporation of Vietnam in 2009, with an initial committed fund of US$100million.

OVERVIEW

VOIʼs increased managed fund

Our first investment was Vinh Son Song

Hinh Hydropower (VSH), the second

largest listed hydropower plant in

Vietnam. By 2015, we have expanded

our investments to other companies

and projects in various sectors such as

clean water, toll roads, health care and

financial services.

VOIʼs first investmentVOIʼs establishment

INITIAL COMMITTED FUND INCREASED COMMITTED FUND FROM SGRF TO

www.scic.vn

Since commencing operations in August 2006, the SCIC currently manages a large portfolio of over 500 enterprises that are operating in various sectors, such as financial services, energy, manufacturing, telecommunications, transportation, consumer products, health care and information technology.

Main objectives of the SCIC:To represent the state capital interest in enterprisesTo invest in key sectors and essential industriesTo strengthen the dominant role of the state sector

The SCIC was incorporated by the Prime Minister in June, 2005. With its Board’s mandate, the SCIC’s creation is seen as a bold measure of the Government of Vietnam during the height of economic and SOE reforms aimed at enhancing the efficiency of the state capital utilisation.

STATE CAPITAL INVESTMENT CORPORATION (SCIC)

www.sgrf.gov.om

To meet these objectives, it is the SGRF’s responsibility to preserve and enhance Oman’s foreign reserves. The reserves provide a stream of income that can be spent or invested for the benefit of the present and future generations. The SGRF manages these funds on behalf of the Government of Oman.

Main objectives of the SGRF:To achieve long-term returns for the Government of OmanTo act as a stablisation fund for the Government of OmanTo provide liquidity to the Government of Oman when called upon

Established in 1980, the State General Reserve Fund of the Sultanate of Oman is a major arm of the Government of Oman that invests in a diversified portfolio of non-oil overseas assets. The fund is owned by the Sultanate of Oman and administered by the Ministry of Finance.

STATE GENERAL RESERVE FUND (SGRF)

OUR SHAREHOLDERS

www.scic.vn

Since commencing operations in August 2006, the SCIC currently manages a large portfolio of over 500 enterprises that are operating in various sectors, such as financial services, energy, manufacturing, telecommunications, transportation, consumer products, health care and information technology.

Main objectives of the SCIC:To represent the state capital interest in enterprisesTo invest in key sectors and essential industriesTo strengthen the dominant role of the state sector

The SCIC was incorporated by the Prime Minister in June, 2005. With its Board’s mandate, the SCIC’s creation is seen as a bold measure of the Government of Vietnam during the height of economic and SOE reforms aimed at enhancing the efficiency of the state capital utilisation.

STATE CAPITAL INVESTMENT CORPORATION (SCIC)

www.sgrf.gov.om

To meet these objectives, it is the SGRF’s responsibility to preserve and enhance Oman’s foreign reserves. The reserves provide a stream of income that can be spent or invested for the benefit of the present and future generations. The SGRF manages these funds on behalf of the Government of Oman.

Main objectives of the SGRF:To achieve long-term returns for the Government of OmanTo act as a stablisation fund for the Government of OmanTo provide liquidity to the Government of Oman when called upon

Established in 1980, the State General Reserve Fund of the Sultanate of Oman is a major arm of the Government of Oman that invests in a diversified portfolio of non-oil overseas assets. The fund is owned by the Sultanate of Oman and administered by the Ministry of Finance.

STATE GENERAL RESERVE FUND (SGRF)

OUR SHAREHOLDERS

Head of VOIʼs Supervisory BoardAdvisory of Ministry of FinanceSultanate of Oman

H.E. Abdul Malik Abdullah Zahir Al Hinai

Member of VOIʼs Supervisory BoardPartner of YKVN

Mr. Vu Dzung

Member of VOIʼs Supervisory BoardMr. Ta Duc Hoang

ChairmanMr. Abdullah Salim Abdullah Al Harthi

Member of Board of DirectorsAl Khalili GroupSultanate of Oman

DirectorMr. Bassam Salim Hilal Al Khalili

Senior Investment ManagerState General Reserve Fund (SGRF)Ministry of Finance, Sultanate of Oman

DirectorMr. Tapan Kumar Meshram

Member of Board of DirectorsState Capital Investment Corporation of Vietnam

DirectorMr. Lai Tran Dong

Asset AllocationState General Reserve Fund (SGRF)Ministry of Finance, Sultanate of Oman

DirectorMr. Abdullah Mohammed Amur Al Rashdi

BOARD OF DIRECTORS

Member of ICAsset AllocationState General Reserve Fund (SGRF)Ministry of Finance, Sultanate of Oman

Mr. Abdullah Mohammed Amur Al Rashdi

Chairman of ICSenior Investment ManagerState General Reserve Fund (SGRF)Ministry of Finance, Sultanate of Oman

Mr. Tapan Kumar Meshram

Member of ICChief Executive OfficerVietnam-Oman Investment Joint Stock Company

Mr. Nguyen Hong Son

SUPERVISORY BOARD

INVESTMENT COMMITTEE (IC)

The Board of Directors of VOI is well represented with the leadership of two shareholders.

Head of VOIʼs Supervisory BoardAdvisory of Ministry of FinanceSultanate of Oman

H.E. Abdul Malik Abdullah Zahir Al Hinai

Member of VOIʼs Supervisory BoardPartner of YKVN

Mr. Vu Dzung

Member of VOIʼs Supervisory BoardMr. Ta Duc Hoang

ChairmanMr. Abdullah Salim Abdullah Al Harthi

Member of Board of DirectorsAl Khalili GroupSultanate of Oman

DirectorMr. Bassam Salim Hilal Al Khalili

Senior Investment ManagerState General Reserve Fund (SGRF)Ministry of Finance, Sultanate of Oman

DirectorMr. Tapan Kumar Meshram

Member of Board of DirectorsState Capital Investment Corporation of Vietnam

DirectorMr. Lai Tran Dong

Asset AllocationState General Reserve Fund (SGRF)Ministry of Finance, Sultanate of Oman

DirectorMr. Abdullah Mohammed Amur Al Rashdi

BOARD OF DIRECTORS

Member of ICAsset AllocationState General Reserve Fund (SGRF)Ministry of Finance, Sultanate of Oman

Mr. Abdullah Mohammed Amur Al Rashdi

Chairman of ICSenior Investment ManagerState General Reserve Fund (SGRF)Ministry of Finance, Sultanate of Oman

Mr. Tapan Kumar Meshram

Member of ICChief Executive OfficerVietnam-Oman Investment Joint Stock Company

Mr. Nguyen Hong Son

SUPERVISORY BOARD

INVESTMENT COMMITTEE (IC)

The Board of Directors of VOI is well represented with the leadership of two shareholders.

VOIʼs team consist of investment professionals that have extensive experience in the local market. As a growing firm, we continue to look for talents in the industry.

OUR TEAM

VOIʼs team consist of investment professionals that have extensive experience in the local market. As a growing firm, we continue to look for talents in the industry.

OUR TEAM

We always pursue operational

excellence and our proud of our work

quality. We follow the highest standards

of professionalism in doing business.

PROFESSIONALISMWe are focused on creating sustainable

shareholder value through commitment

of our team to maximize risk-adjusted

return, and act in the best interest of our

shareholders.

COMMITMENT TO SHAREHOLDERSWe exercise care, prudence and

diligence, and take a measured

approach to managing risks in every

investment we undertake. We are always

conscious of our fiduciary responsibility.

As an institution and as individuals, we

always seek to work diligently and to

conduct business in good faith.

PRUDENCEWe behave with integrity and in an

ethical manner in everything we do,

thereby earning and maintaining the

trust and respect of shareholders,

partners and investors.

INTEGRITY

VOIʼs strong performance is driven by commitment to our core values.

OUR CORE VALUES

We always pursue operational

excellence and our proud of our work

quality. We follow the highest standards

of professionalism in doing business.

PROFESSIONALISMWe are focused on creating sustainable

shareholder value through commitment

of our team to maximize risk-adjusted

return, and act in the best interest of our

shareholders.

COMMITMENT TO SHAREHOLDERSWe exercise care, prudence and

diligence, and take a measured

approach to managing risks in every

investment we undertake. We are always

conscious of our fiduciary responsibility.

As an institution and as individuals, we

always seek to work diligently and to

conduct business in good faith.

PRUDENCEWe behave with integrity and in an

ethical manner in everything we do,

thereby earning and maintaining the

trust and respect of shareholders,

partners and investors.

INTEGRITY

VOIʼs strong performance is driven by commitment to our core values.

OUR CORE VALUES

We adopt a long term and value-investing philosophy focused on the investeesʼ ability to create, grow and distribute sustainable values to shareholders. Our central investment theme is based on the growth story of Vietnam with the features mentioned above.

Political system led by the Communist Party prioritize on the economic growth.

Reforms are on the move in investments, the financial sectors, SOEs, etc, to complete transferring the economy to be market-oriented.

Stable political environmentand continuous reform

Vietnam disposable income has increased by four times over the past decade and the middle class is rising with significant portion.

This rising affluence accounts for the expansion in consumers related sectors.

Expanding domesticconsumption and rising wealth

Robust growth of trade thanks to the open-up policies.

Shift from natural resource export to higher value added products.

Key player to be one of the manufacturing hubs of the world.

Moving up theglobal value chain

Favorable demographic structure with a young and expanding workforce.

Increasing productivity thanks to sectorial shift from agricultural to manufacturing and increased participation of the private and foreign sectors.

Structural fit forsustainable high growth

OUR INVESTMENT PHILOSOPHY

We adopt a long term and value-investing philosophy focused on the investeesʼ ability to create, grow and distribute sustainable values to shareholders. Our central investment theme is based on the growth story of Vietnam with the features mentioned above.

Political system led by the Communist Party prioritize on the economic growth.

Reforms are on the move in investments, the financial sectors, SOEs, etc, to complete transferring the economy to be market-oriented.

Stable political environmentand continuous reform

Vietnam disposable income has increased by four times over the past decade and the middle class is rising with significant portion.

This rising affluence accounts for the expansion in consumers related sectors.

Expanding domesticconsumption and rising wealth

Robust growth of trade thanks to the open-up policies.

Shift from natural resource export to higher value added products.

Key player to be one of the manufacturing hubs of the world.

Moving up theglobal value chain

Favorable demographic structure with a young and expanding workforce.

Increasing productivity thanks to sectorial shift from agricultural to manufacturing and increased participation of the private and foreign sectors.

Structural fit forsustainable high growth

OUR INVESTMENT PHILOSOPHY

Rising demand for infrastructure and booming of properties sector.• Construction materials

• Mining

Construction & Mining

Rising middle income class fueling expansion of financial services.• Banking

• Insurance

Finance

Competitive edge from favorable weather and land conditions. Increased global demand for food security.

• Agricultural commodities• Farming• Agricultural value chains

Agriculture

Demand expansion with income growth while supply limited.• Healthcare services

• Pharmaceuticals

Healthcare

Rising demand with income growth while supply limited.

Education

Supply yet to meet demand.

• Electricity• Water

Utilities

Increasing expansion due to current poor condition of infrastructure network.• Toll roads

• Ports

Infrastructure

Consumption growth due to population expansion and increase in income.• F&B

• Personal & household• Consumer services

Consumers

RATIONALEINDUSTRIES

Long-term investments.

Time Horizon

Private companies in need of growth capital, projects that fill the gap in the industry value chain, and the privatization of State-Owned Enterprises.

Investment Targets

Industries essential to economic growth, such as infrastructure, consumers, agriculture, logistics, etc.

Focused Industries

Predominantly Vietnam, Laos, Cambodia and Myanmar.

Focused Geography

Private equity investments.

Focused Asset Class

VOI selects investments based on a set of principals outlined in the investment mandate.

To add value to the investee companies via capital restructuring, technical assistance and corporate governance improvements.

Value Added

FOCUSED SECTORSINVESTMENT MANDATE