VINH HOAN CORP: Striving to assure 100 percent of raw material demand

Vinh Hoan Corp held a shareholder meeting on 25 April 2011. 

Ms. Truong Thi Le Khanh, CEO and President, said the company earned US$32 million in export turnover in Q1/2011, up 9 percent against the same period last year. Its after-tax profit reached VND72 billion out of a revenue of VND800 billion.  

Vinh Hoan Corp reported its Pangasius export value of US$29.2 million in Q1. The company also earned US$1.6 million by shipping some value-added products, which account for 5 percent of its total export value.

Last year, Vinh Hoan’s revenue and after-tax profit reached VND2,758 billion and VND186 billion respectively. Its feed plant’s revenue exceeded VND1,000 billion and after-tax reached VND59 billion.

At the shareholder meeting this year, Vinh Hoan Corp already approved the yearly plan in 2011, in which the company set the target to have export turnover of US$145 million, VND3,000 billion in seafood processing, and VND1,200 billion from feeds production.

Also in 2011, Vinh Hoan Corp plans to add 100ha into its current Pangasius farming area, so that it can assure 100 percent of its raw material demand in the near future.

It decided to invest VND15 billion to build a feed pallet production workshop and VND5 billion in a broodstock feed production workshop for Vinh Hoan No.1 Seafood Plant.

This year, Vinh Hoan Corp aims to be certified by ASC, BAP for its farming area, and GlobalGAP for its feeds plant and hatcheries.

At the annual shareholder meeting, Mr. Jean Eric Jaccquemin, representative of Red River Holding Investment Fund, to be a member of Vinh Hoan Corp’s Executive Board, and Mr. Nguyen Minh Duc, a lecturer of the National Economic University, Open University and Foreign Trade University as a member in the Inspection Board.

Source: Vietfish International

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