From brewery to commercial and service projects

Saigon Beer-Alcohol-Beverage Corporation (Sabeco), a top beer maker in Vietnam, has operated in Quang Ngai since 2005 through Saigon Beer-Quang Ngai Joint Stock Company (BSQ), one of its subsidiaries in central Vietnam.

In 2007, BSQ was granted an investment certificate to build the Saigon Beer-Quang Ngai brewery in Quang Phu Industrial Park, with a total investment of more than VND1.58 trillion ($61.06 million) and an initial designed capacity of 100 million liters of beer per year.

Construction began in 2009, with the first phase completed in December 2010. The company subsequently invested in additional production lines, fermentation systems and energy-saving solutions to increase capacity and improve product quality.

Between 2018 and 2021, the brewery underwent further upgrades and expansion, raising its capacity to 250 million liters per year. In March 2022, the facility produced its first batches of beer following completion of the capacity expansion project. In the first eight months of 2026, BSQ produced more than 98.6 million liters of beer, equivalent to over 88% of the year's target. Export revenue was estimated at $1.84 million.

Beyond beer production, BSQ is expanding into commercial services through a shopping, service and leasing center project at 06 Nguyen Thuy street in Nghia Lo ward, Quang Ngai province.

Construction began in June 2026, with the basic construction phase expected to be completed in March 2027. The project covers more than 7,800 square meters, with a building density of 55%, three storeys and a total floor area of more than 10,200 sqm. Planned facilities include entertainment, shopping and dining areas.

Following several capital increases, the project now has a total investment of more than VND302 billion ($11.67 million). The development marks a step towards diversifying BSQ's investments beyond beer production while adding commercial and entertainment services in Quang Ngai.

Sabeco is also looking at further investment opportunities in the province.

At a recent meeting with Quang Ngai provincial leaders, Sabeco general director Lester Tan Teck Chuan thanked the local authorities for their attention and support. He reaffirmed the company's commitment to working with the province to sustain and expand its business operations and contribute to local socioeconomic development.

Going forward, Sabeco plans to continue expanding its investments in Quang Ngai, explore a social housing project and bring the shopping, service and leasing center into operation.

The company also plans to raise its production capacity to 350 million liters per year in the coming period, strengthen its brands, and expand sales in Quang Ngai and nationwide.

Profit surges in first half

According to BSQ's interim financial statements for the six months ended June 30, 2026, net revenue from sales of goods and provision of services reached VND858.9 billion ($33.19 million), up 4% from the same period in 2025.

Higher revenue and lower cost of goods sold helped more than double gross profit to VND93.9 billion ($3.63 million). After expenses, BSQ reported net profit of VND62.8 billion ($2.43 million), compared with VND21.5 billion ($830,820) a year earlier.

As of June 30, 2026, BSQ's total assets stood at nearly VND1.21 trillion ($46.6 million), slightly lower than at the beginning of the year. Cash and cash equivalents amounted to VND47.6 billion ($1.84 million), an increase of more than VND38 billion from the start of the year.

The company also held more than VND44 billion ($1.7 million) in short-term financial investments, while short-term receivables stood at VND169.7 billion ($6.56 million) and inventories at approximately VND176.6 billion.

Total liabilities exceeded VND350 billion ($13.53 million), edging up from the beginning of the year. All liabilities were short-term.

Recently, the Quang Ngai provincial tax authority issued an administrative penalty against BSQ for tax violations.

The authority found that the company had incorrectly declared taxes, resulting in underpayments of corporate income tax for 2020 and 2021, value-added tax for the June and August 2020 tax periods, and personal income tax for 2020, 2021 and 2022.

BSQ was fined a total of nearly VND74.48 million ($2,880) for the violations. In addition to the fine, the company was ordered to pay more than VND768 million ($29,680) in additional tax assessments and more than VND419 million in late-payment interest.