Minh Phu seafood corp: Targets VND 615.5 billion profit

Minh Phu Seafood Corp has issued VND 700 billion of three years bonds with par value of VND 1 billion per share

Minh Phu Seafood Corp (MPC) has issued VND700 billion of three year bonds with par value of VND1 billion per share. In the first phase (late 2010), MPC issued 200 bonds (worth VND200 billion) and the other 500 bonds were issued in the second phase (March 31, 2011) in order to raise operating capital for Minh Phu – Hau Giang shrimp processing plant and invest in an industrial shrimp farming project at Dat Do district, Ba Ria – Vung Tau province.
Minh Phu – Hau Giang plant went into operation in April, creating larger production capacity than that of the whole current complex of Minh Phu Corp. Minh Phu – Hau Giang plant has total investment fund of VND1,000 billion and targeted production capacity of 40,000 MT of finished shrimp per year.
MPC expected to export US$360 million in 2011 and earn a net revenue and post-tax profit of VND7,524 billion and VND615.5 billion respectively.
Source: Vietfish International
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