MacStar was established in early 2024 and is headquartered in Dong Hai 2, Hai An District, Hai Phong City. The company operates in the field of inland waterway barge transportation for coastal container shipping. Maserco currently holds 96% of the subsidiary’s capital, corresponding to a contribution of VND 48 billion.
The establishment of this enterprise is part of Maserco’s expansion plan, aiming to develop inland waterway ports and promote container transportation by waterway. This move comes as the traditional business of repairing and assembling suspended container equipment becomes more challenging.
Previously, the company planned to build two river-sea ships to pilot the Hai Phong – Ninh Binh transport route before expanding to the North and North Central regions. This would help reduce traffic pressure on river and coastal routes. Maserco’s ambition is to own and operate Vietnam’s largest river-sea container transport fleet by 2028.
Maserco CEO Tran Tien Dung
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Returning to the capital increase plan, MacStar will raise its charter capital from VND 50 billion to VND 92 billion by issuing 4.2 million shares to TM Holding Fund. The issue price has not been disclosed, but after this capital contribution, Maserco remains the parent company with a holding of over 52%, while TM Holding Fund holds over 45%.
TM Holding Fund, formerly known as Sao A Joint Stock Company, currently holds nearly 45% of Maserco’s capital (as of the end of 2024) together with Sao A DC Investment Joint Stock Company. Both enterprises are chaired by Maserco CEO Tran Tien Dung.
In late 2024, Maserco also expanded its operations by establishing MacLand Real Estate Joint Stock Company with a charter capital of VND 150 billion. Mr. Dung took on the role of Director, while Maserco holds 51% of the capital, and TM Holding Fund and Sao A DC Investment contribute 40% and 9%, respectively.
The shadow of HAH group of shareholders in the race for control at MAC
– 10:58 26/02/2025
