'Shrimp king' Minh Phu reports first loss after 7 years

'Shrimp king' Minh Phu reports first loss after 7 years

Minh Phu Seafood Corporation, Vietnam’s leading shrimp exporter, reported a net loss of VND195 billion ($7.54 million) in 2023, the first loss after seven fiscal years.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Sao Ta Foods tops revised growth targets amid Vietnam seafood industry struggle

Sao Ta Foods tops revised growth targets amid Vietnam seafood industry struggle

Sao Ta Foods JSC, among major shimp exporters in Vietnam, has topped its revised revenue and pre-tax profit targets for 2023 by 4% and 1.5%, respectively, performing relatively well amidst a decline in the country's seafood industry.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Positive signals for Vietnam shrimp exports to US

Positive signals for Vietnam shrimp exports to US

U.S. retail orders for Vietnamese seafood are on the rise, with positive signs for the year-end holidays, according to Kim Thu, an expert from the Vietnam Association of Seafood Exporters and Producers (VASEP).

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam seafood majors post Q2 profit plunge

Vietnam seafood majors post Q2 profit plunge

Seafood majors Minh Phu, Vinh Hoan and Sao Ta all reported sharp profit drops in the second quarter of this year, while Nam Viet made a loss after six consecutive profitable quarters.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnamese seafood exporters worried about material shortages

Vietnamese seafood exporters worried about material shortages

Vietnam's seafood exports have shown signs of a recovery in recent months, but processing enterprises are worried about sharp declines in raw materials which will affect their export targets this year.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam seafood majors report Q1 profit plunge as exports decline

Vietnam seafood majors report Q1 profit plunge as exports decline

Vinh Hoan and Nam Viet reported a sharp profit drop in the first quarter of this year, while Minh Phu posted a first loss in seven years as Vietnam's seafood exports decreased compared to the same period last year.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Nichirei to shift Japan seafood production to Vietnam

Nichirei to shift Japan seafood production to Vietnam

Nichirei Fresh, a fresh food processing subsidiary of Japanese food giant Nichirei, plans to transfer its salmon production in Japan to its Vietnamese plant.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Death-row prisoner looks to resurrect business: my land assets worth billions now

Death-row prisoner looks to resurrect business: my land assets worth billions now

Lien Khui Thin was one of the most well-known entrepreneurs in Vietnam in the 1990s. He was sentenced to death in 2000 in the major Epco-Minh Phung scam. The sentence was commuted to life imprisonment in 2003 and he was freed in 2009 under an amnesty program to become an entrepreneur again.

Executive Talk - Mon, Dec 22, 2021 | 11:30 am GMT+7

‘Shrimp king’ Minh Phu, Shiok Meats to develop R&D facility in Vietnam

‘Shrimp king’ Minh Phu, Shiok Meats to develop R&D facility in Vietnam

Vietnam’s leading shrimp exporter Minh Phu Seafood has signed a deal with Singapore-based cultivated meat and seafood firm Shiok Meats to carry out research and development on cell-based shrimp products.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Aquatic exports spike 40% in first half

Aquatic exports spike 40% in first half

Vietnam’s aquatic exports grew 40% year-on-year to reach nearly $5.8 billion in the first half of the year, Vietnamese Association of Seafood Exporters and Producers (VASEP) reported.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam major new agri supplier to UK following bilateral FTA

Vietnam major new agri supplier to UK following bilateral FTA

Vietnam has emerged as a major Southeast Asian supplier of farm produce and aquaculture products to the UK following the UK-Vietnam Free Trade Agreement (UKVFTA).

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7