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Case Study 22: Typical competition restriction cases in Vietnam

Abusing dominant position in the market: Case 1: In 2007 THP filed a complaint with the Vietnam Competition Authority (VCA) against Vietnam Brewery Limited (VBL) – a producer of Tiger and Heineken beer. THP alleged that VBL had abused its dominant position in the premium beer market in some big cities in Vietnam to deter new competitors. The VCA’s investigation mainly focused on identifying the relevant market, determining if VBL had a dominant position in that market and collecting evidence to prove the exclusive dealing conduct. The relevant market in this case was identified by the VCA as the beer market...

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Legal news in January 2018 in Vietnam

1. Provisions on limits for issuing covered warrants

On  18  January  2018,  the  State  Securities  Commission  issued  Decision No.72/QD-UBCK,  promulgating  the  Rules/Guidelines  for  offering  and hedging with covered warrants.

Accordingly,  the  regulation  sets  maximum  limits  for  warrants,  which  have been issued or registered to be issued, excluding those that have been canceled or have expired, according to the available capital of each issuer. In particular:

(a)       0% for issuers with a liquid capital ratio of 180% to 250%;

(b)      5% for issuers with a liquid capital ratio of 250% to 300%;

(c)       10% for an issuer with a liquid capital ratio of 300% to 450%;

(d)      15%  of  the  Issuing  Institution  has  a  liquid  capital  ratio  of  450%  to 600%;

(e)       20% to the issuing organization with a liquid capital ratio of more than 600%.

The liquid capital ratio to be used for determination of limits is the continuous minimum of 6 latest months prior to the date of filing registration dossier for offering warrants.

This Decision takes effect from the date of signing.

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