(vasep.com.vn) On 20th April 2012, Hung Vuong Corporation held the 2012 General Meeting of Shareholders in Ho Chi Minh City.
With US$8 million of export value in the first year, Hung Vuong Corp made considerable progress to become one of the leading seafood companies in Vietnam. In 2011, it exported 82.6 thousand MT of products for US$231 million. Currently, Tien Giang-based firm’s seafood products are presented in 60 global markets. In which, Russia and the EU account for 42.5 percent; the U.S. and other American markets represent 29.8 percent; the rest 27.7 percent was occupied by Australia and other markets.
In April 2012, Hung Vuong Corp has bought shares of Bentre Forestry and Aquaproducts Im-Ex Joint Stock Company (Faquimex – HOSE-code: FBT) owned by State Capital Investment Corporation (SCIC). In late 2011, the company held 2.7 million of FBT shares, equal to 18 percent of capital.
In 2012, Hung Vuong Corp plans to buy more FBT shares to increase its shares from 18 percent to 50 percent and make Faquimex one of its affiliates.
The firm will raise shrimp in Faquimex’s 600-hectare farming area in Ben Tre province. In addition, it also has plan to build a new shrimp hatchery in Ninh Thuan province. Hung Vuong Corp targets to produce 2 billion of shrimp seeds from its old hatchery in 2012. The firm will develop a hatchery of 17 hectares to provide 10 billion of shrimp seeds in 2013.
According to Mr. Minh, Hung Vuong Corp now owns a large-scale shrimp farming area. Currently, the company has completed procedures to receive land for building the new hatchery. Profit from shrimp farming is about 30 – 60 percent, higher than 10 percent in fish rearing, Mr Minh said.
In 2012, Hung Vuong Corp expects to gain VND7,500 billion from sales and services of which revenue from export is set at US$250 million, profit before tax VND550 billion. Shareholders will receive 30 percent of dividend yield.
Website: www.hungvuongpanga.com