Revenue surged 107% YoY (Q4 2020: 97% YoY) while reported NPAT-MI slumped 78% YoY (Q4 2020: -82% YoY). Revenue was lifted by Masan Consumer Holdings (MCH) and Masan Meat Life (MML) as well as the consolidation of VCM (grocery retailing) and H.C.Starck (HCS). Recurring NPAT-MI was dragged by VCM’s loss, higher minority interest at MCH that resulted from the acquisition of VCM, a recurring net loss at Masan Hi-Tech Materials (MHT, formerly Masan Resources) amid softer metal prices, and higher