| Representatives of Brookland Group and Miza Corporation at the signing ceremony. Photo: Miza |
On October 21, Brookland Group & Partners Limited, the Dubai- and Singapore-based long-term investment firm with years of experience investing in listed companies across Asia and emerging markets, has completed its first tranche of investment in Miza Corporation, a Vietnamese recycled-packaging producer. The investment is the first step of a structured equity arrangement worth up to $5 million.
The transaction involves no new share issuance as Brookland acquired the shares from an existing Miza shareholder. The investment firm intends to build its position in stages, subject to agreed transaction conditions. The deal extends the group's regional strategy of deploying international institutional capital into listed companies across Asia and emerging markets. Brookland aims to accelerate deployment and expand the investment beyond the initial $5 million in continued support of Miza’s growth plans.
“Vietnam’s manufacturing base is where international institutional capital should be paying attention, and Miza is a clear example of why,” said John Hall, managing partner of Brookland Group. “This first tranche is the start of a long-term commitment. We intend to build our position alongside a management team that has spent 15 years turning recovered materials into the packaging Vietnam’s supply chains run on.”
The move comes less than a month after FTSE Russell reclassified Vietnam from frontier to secondary emerging market status, effective September 21. "FTSE is adding eligible Vietnamese stocks to its global emerging market indices in phases over the next year, and the country is seeking private and foreign investors for most of the estimated $1.49 trillion in investment capital it needs over 2026-2030," said Can Van Luc, a member of the National Financial and Monetary Policy Advisory Council.
Vietnam’s paper consumption rose 10.8 per cent in 2025 to an estimated 7.77 million tonnes, ahead of domestic production of about 6.34 million tonnes, according to the Vietnam Pulp and Paper Association. Recycled packaging rules are also tightening in Vietnam and the EU, as international investors place greater weight on environmental, social, and governance criteria.
Founded in 2010, Miza turns waste paper into industrial packaging materials, including kraft, testliner, fluting medium, and duplex paper, and makes finished goods such as corrugated carton boxes and kraft paper bags. Its main production base is in Nghi Son, Thanh Hoa province, where the company runs lines for recycled pulp and packaging paper. Management attributes its 2026 growth plans to additional output from the new PM5 paper machine at the site.
“We see Brookland’s investment as a vote of confidence in our strategy, our team and our circular economy model while reflecting a strategic alignment with Vietnam's development vision and the global shift towards sustainable development”, said Tuan Minh Nguyen, chairman of Miza Corporation.
Miza’s 2025 net profit after tax rose more than 63 per cent to about $4.5 million, on revenue of about $185 million. First-half 2026 net profit after tax rose 74.9 per cent to about $3.2 million, and shareholders approved a 2026 profit target of about $7.7 million.
On October 14, Miza completed a 10 per cent stock dividend and approved a plan to issue additional shares at a 10:3 ratio to increase its equity and strengthen its financial base. The company is also in the final stage of negotiating a private placement of 30 million shares with an institutional investor, at an expected price above the market price. Miza said the proceeds would strengthen its finances, optimise its capital structure, and support further growth.
With these capital strategy changes and international capital participation, Miza expects 2026 to lay the groundwork for a new growth cycle from 2027.
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