Major vegetable oil firm Vocarimex to spend $51 mln on dividends
Vocarimex, a subsidiary of Vietnam's leading food and cooking oil producer Kido Group, will spend about VND1,218 billion ($51.31 million) to pay shareholder dividends in cash at the rate of 100%.
The last registration date to exercise the right to receive dividends is March 17, 2023, and the payment date is April 12, 2023. The company's outstanding shares are 121.8 million.
KDC is estimated to receive VND1,063.3 billion ($44.8 million) from VOC's dividends. Photo courtesy of VOC.
In November, Vietnam Vegetable Oils Industry Corporation (Vocarimex), transferred its entire 24% stake in Calofic to Siteki Investment at a price of nearly VND2,158 billion ($86.99 million).
Calofic is a joint venture between Vocarimex and Siteki Investment under Singapore's Wilmar International Group. The company was established in 1996 with initial investment capital of $22 million, which was raised to more than $260 million. The company has two factories in Quang Ninh province (the north) and Ho Chi Minh City (the south) with a total capacity of up to 2,300 tons per day.
Vocarimex, registered on the unlisted public company market UPCoM as VOC, currently has a charter capital of VND1,218 billion ($51.31 million), of which the parent company, Kido Group (KDC), owns approximately 106.33 million shares, equivalent to a 87.3% stake. KDC is estimated to receive VND1,063.3 billion ($44.8 million) from VOC's dividends.
In the fourth quarter of 2022, VOC recorded a revenue of VND599.6 billion ($25.26 million), up 41% year-on-year, and a loss of VND127.6 billion ($5.37 million), a sharp increase compared to a loss of VND211.6 million ($8,920) in Q4/2021.
In 2022, VOC's net revenue reached VND1,613 billion ($67.95 million), up 8%. The company recorded a loss of nearly VND46 billion ($1.94 million), while in the same period last year it made profit of VND115 billion ($4.84 million).
The firm said that although revenue increased over the same period, the sharp decrease in the price of raw materials in the market compared to the inventory price made the company's gross profit margin drop.
As of December 31, 2022, Vocarimex's total assets were VND1,992 billion ($83.93 million), up 7.4% compared to the beginning of the year.
- Related News
- Read More
Vietnam's agri major BAF reports record livestock profit since listing
BAF Vietnam Agriculture JSC in Q1 posted its highest livestock profit since listing in late 2021, thanks to a surge in pig output and revenue that nearly doubled year-over-year.
Companies - Tue, May 6, 2025 | 9:36 pm GMT+7
Amkor views Vietnam 'strong market' despite US tariff uncertainties
Amkor Technology, a U.S.-headquartered semiconductor firm, sees Vietnam a strong market in the mid and long term despite tariff uncertainties under the Trump administration, said an executive.
Investing - Tue, May 6, 2025 | 4:40 pm GMT+7
Over $7.7 bln in Vietnam's private placement corporate bonds to mature in last 3 quarters
More than VND200 trillion ($7.7 billion) in privately-placed corporate bonds will mature in the final three quarters of this year, with the real estate sector accounting for half, according to independent credit rating provider S&I Ratings.
Finance - Tue, May 6, 2025 | 4:16 pm GMT+7
Sumitomo to halve equity interest in $2.58 bln thermal power plant in central Vietnam
Sumitomo has decided to transfer 50% of the Japanese giant's equity interest in its wholly-owned operator of the $2.58 billion Van Phong 1 coal-fired power plant in Vietnam’s central province of Khanh Hoa.
Energy - Tue, May 6, 2025 | 3:54 pm GMT+7
Singapore's CapitaLand Development forms strategic partnership with Vietnam's Vinhomes
CapitaLand Development has expanded in Vietnam with two major moves - a strategic collaboration agreement with leading local developer Vinhomes and the unveiling of The Fullton, a $800 million low-rise residential project in Hung Yen province.
Real Estate - Tue, May 6, 2025 | 2:56 pm GMT+7
Vietnam's disbursed FDI in 4 months posts five-year record high
Registered foreign direct investment (FDI) in Vietnam hit $13.82 billion in the first four months of the year, up 39.9%, while disbursed capital reached $6.74 billion, up 7.3% and marking a record high in five years.
Economy - Tue, May 6, 2025 | 2:12 pm GMT+7
Vietnam's Politburo requests prioritizing administrative measures to handle economic violations, instead of criminal prosecution
The Politburo, Vietnam's highest decision-making body, has ordered amendments to legal regulations to ensure that administrative measures are prioritized in handling civil and economic cases.
Economy - Tue, May 6, 2025 | 12:30 pm GMT+7
EC postpones Vietnam’s seafood inspection until year end
The European Commission (EC) has delayed its fifth inspection of Vietnam's efforts to combat illegal, unreported and unregulated (IUU) fishing to the end of 2025, according to the Ministry of Agriculture and Environment (MAE).
Southeast Asia - Tue, May 6, 2025 | 8:53 am GMT+7
Thailand lowers growth forecast for 2025
The Thai Ministry of Finance has cut its forecast for the country’s economic growth this year to 2.1% from 3%, saying that the impact of U.S. tariffs and a global slowdown would weigh on Southeast Asia's second-largest economy.
Southeast Asia - Tue, May 6, 2025 | 8:49 am GMT+7
Vietnam’s top lighting manufacturer Rang Dong posts 48% drop in Q1 profit
Hanoi-based Rang Dong Light Source & Vacuum Flask JSC, a veteran in Vietnam’s consumer goods sector, reported a 48% decline in Q1 post-tax profit to nearly VND101 billion ($3.9 million), blaming intensifying competition from Chinese imports and foreign-invested enterprises.
Companies - Tue, May 6, 2025 | 8:17 am GMT+7
Vietnam spends $1.8 bln on coal imports in Q1, mainly for power plants
Vietnam spent more than $1.8 billion importing 17.27 million tons of coal in Q1, primarily to fuel thermal power plants, according to the General Department of Customs.
Economy - Mon, May 5, 2025 | 10:24 pm GMT+7
Vietnam’s utility major REE records 27% net profit growth in Q1 on power segment surge
Private utility firm REE Corporation posted strong profit growth in Q1, primarily driven by a significant improvement in its power segment compared to the same period last year.
Companies - Mon, May 5, 2025 | 10:00 pm GMT+7
Vietnam to hold first round of trade talks with US on Wednesday
Vietnam will hold its first round of negotiations with the U.S. on bilateral trade Wednesday, Prime Minister Pham Minh Chinh said at the ongoing session of the country's parliament.
Economy - Mon, May 5, 2025 | 4:40 pm GMT+7
Nestlé Vietnam announces new investment in flagship coffee plant
Nestlé will make an additional investment of $75 million to expand its Nestlé Tri An plant in the southern Vietnam province of Dong Nai, bringing its total investment in the facility over 2024-2025 to $175 million.
Companies - Mon, May 5, 2025 | 4:35 pm GMT+7
Vietnam legislature’s ongoing session to mark 'historic breakthrough in institutional reform'
The National Assembly's session which opened on Monday morning will make a critical step forward in institutional reform, paving the way for a new era of modernization, digital transformation, green growth, and sustainable development, said the parliament's Chairman Tran Thanh Man.
Politics - Mon, May 5, 2025 | 3:53 pm GMT+7
Business confidence in Vietnam drops to 44-month low over US tariff concerns: S&P Global
Business confidence in Vietnam dropped sharply in April to the lowest since August 2021, as manufacturers were concerned about the impact of U.S. tariffs on production in the months ahead, according to S&P Global.
Economy - Mon, May 5, 2025 | 3:24 pm GMT+7
