"[Vinamilk] is run in accordance with all the best standards of corporate governance," he adds. Vinamilk is PXP's biggest holding at one-fifth of the portfolio. The stock has given shareholders 22 times their money since 2005, Snowball says.
Investment in the 38-year-old dairy will surge further if the government finalizes rules letting foreign funds own majority shares in companies on the liquidity-strapped Ho Chi Minh City stock exchange. Today the cap is 49% in most companies.
Will the golden cow tip over by then?
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