Vietnamese rice exporter to borrow $9.6 mln from Malaysian bank

By Tri Duc
Fri, September 8, 2023 | 3:12 pm GMT+7

Trung An High-Tech Agriculture JSC, a leading rice exporter in Vietnam, plans to borrow VND230 billion ($9.55 million) from Malaysia’s Malayan Banking Berhad (Maybank) to augment its working capital.

The company affirmed the move in a Thursday filing with the Hanoi Stock Exchange (HNX).

The 12-month loan, with the firm’s assets as collateral, will have different interest rates for different terms. Pham Thai Binh, board chairman and CEO, has been tasked with working with Maybank to complete the borrowing.

A river wharf operated by Trung An High-Tech Agriculture JSC in Can Tho city, Vietnam's Mekong Delta. Photo courtesy of the firm.

A river wharf operated by Trung An High-Tech Agriculture JSC in Can Tho city, Vietnam's Mekong Delta. Photo courtesy of the firm.

Trung An, based in the Mekong Delta city of Can Tho and listed on the HNX as TAR, recorded post-tax profits of VND605.89 million ($25,150) in the first half of this year, equivalent to 1.2% of the corresponding figure in 2022.

Revenues reached VND2.54 trillion ($105.4 million) in the period, up 47.4% year-on-year.

The firm made a post-tax loss of VND7.89 billion ($327,600) in the second quarter.

On August 4, Minister of Industry and Trade Nguyen Hong Dien said at a meeting in Can Tho city that Vietnam, the world’s third-largest rice exporter after India and Thailand, was expected to ship abroad 7.5 million tons of rice this year while maintaining national food security. The country exported 7.1 million tons of rice last year.

The meeting was in the context of rising global rice prices and India halting its largest rice export category to calm domestic prices, which climbed to multi-year highs in recent weeks as erratic weather threatened production.

Dien said domestic exporters need to speed up shipments but regulators must safeguard national food security.

Vietnam’s 2023 rice production is expected to reach 43.2 or 43.4 million tons, up 1.8-2% compared to last year, Tran Duy Dong, head of the Ministry of Industry and Trade's import-export department, said at the meeting.

Comments (0)
  • Read More
Vietnam's retail giant Mobile World posts record revenue in Q2

Vietnam's retail giant Mobile World posts record revenue in Q2

Mobile World Investment Corporation (MWG), a leading retailer in Vietnam, delivered its highest-ever quarterly revenue in Q2/2025, rising nearly 10% from a year earlier to over VND37.52 trillion ($1.44 billion).

Companies - Mon, July 28, 2025 | 4:23 pm GMT+7

Techcombank named domestic retail bank of the year by Asian Banking & Finance for 4th consecutive year

Techcombank named domestic retail bank of the year by Asian Banking & Finance for 4th consecutive year

Techcombank has been named Domestic Retail Bank of the Year - Vietnam at the Asian Banking & Finance Retail Banking Awards 2025.

Companies - Mon, July 28, 2025 | 3:06 pm GMT+7

Navigating tariff shocks: Vietnam’s path forward through diversification

Navigating tariff shocks: Vietnam’s path forward through diversification

Market diversification is not a choice but an urgent necessity for Vietnam to safeguard export growth and mitigate risks from global policy and market fluctuations, writes Huong Vu, general director of EY Consulting Vietnam Joint Stock Company and vice chairwoman of Vietnam's Association of Foreign Invested Enterprises (VAFIE).

Consulting - Mon, July 28, 2025 | 2:16 pm GMT+7

UK Jadestone Energy seeks more cooperation with Petrovietnam

UK Jadestone Energy seeks more cooperation with Petrovietnam

UK Jadestone Energy, an independent upstream production and development company focused on the Asia-Pacific region, is eyeing opportunities to further cooperate with Vietnam's state giant Petrovietnam.

Energy - Mon, July 28, 2025 | 10:30 am GMT+7

Malaysia urges strengthening intra-ASEAN trade

Malaysia urges strengthening intra-ASEAN trade

Malaysia is focusing on strengthening the ASEAN economic framework by boosting intra-bloc trade to ensure the continuity of the region’s agenda, Malaysian Foreign Minister Datuk Seri Mohamad Hasan said last Thursday.

Southeast Asia - Mon, July 28, 2025 | 10:26 am GMT+7

Vietnam's fertilizer major PVFCCo launches new product using 100% potassium sulphate

Vietnam's fertilizer major PVFCCo launches new product using 100% potassium sulphate

Petrovietnam Fertilizer and Chemicals Corporation (PVFCCo or Phu My Fertilizer), has officially introduced its new product to the market: NPK PHU MY 15-15-15+5S+TE SOP, an advanced nutritional solution that contributes to the sustainable development of Vietnam’s agricultural sector.

Companies - Mon, July 28, 2025 | 10:19 am GMT+7

Vietnam insurer MIC earns B++ credit rating, sets sights on becoming regional leading digital insurer

Vietnam insurer MIC earns B++ credit rating, sets sights on becoming regional leading digital insurer

Vietnam’s Military Insurance Corporation (MIC), listed on the Ho Chi Minh Stock Exchnage as MIG, has secured a Financial Strength Rating of B++ (Good) and a Long-Term Issuer Credit Rating of “bbb” (Good), both with a stable outlook, from global credit rating agency AM Best.

Finance - Mon, July 28, 2025 | 9:55 am GMT+7

Military Bank leads in CASA ratio, securing spot among Vietnam’s Big 5 lenders

Military Bank leads in CASA ratio, securing spot among Vietnam’s Big 5 lenders

Hanoi-based Military Bank’s (MB) emerged as a banking sector leader in current account savings account (CASA) ratio from mid-2024 to Q1/2025, earning a spot among Vietnam’s Big 5 lenders.

Banking - Mon, July 28, 2025 | 9:44 am GMT+7

HCMC-based Thuduc House returns to profit under new board of directors

HCMC-based Thuduc House returns to profit under new board of directors

Thuduc Housing Development Corporation (Thuduc House) posted nearly VND19 billion ($726,720) in H1 net profit, a sharp turnaround from a loss of more than VND33 billion ($1.26 million) in the same period last year.

Companies - Mon, July 28, 2025 | 9:32 am GMT+7

HCMC institute proposes standardized EV battery recycling center

HCMC institute proposes standardized EV battery recycling center

As part of a roadmap to transition 400,000 vehicles to electric in Ho Chi Minh City, the municipal Institute for Development Studies (HIDS) has proposed building a standardized battery recycling center or plant capable of recovering up to 95% of the valuable metals in EV batteries.

Economy - Mon, July 28, 2025 | 9:00 am GMT+7

AI cannot match human empathy, creativity: fintech company exec

AI cannot match human empathy, creativity: fintech company exec

AI automates a range of repetitive office tasks such as data analysis and reporting but cannot have the same emotions and creativity as humans, said Colin Blackwell, chairman of Hyperion Fintech, a Swiss financial technology services company.

Executive Talk - Mon, July 28, 2025 | 8:05 am GMT+7

Over 80,000 online shops in Vietnam record no orders in H1

Over 80,000 online shops in Vietnam record no orders in H1

Vietnam’s e-commerce landscape is undergoing a more intense shakeout, with over 80,000 online shops recording no orders in the first half of 2025.

Economy - Mon, July 28, 2025 | 8:00 am GMT+7

Vietnam’s leading construction material maker Viglacera triples Q2 profit on industrial park leasing gains

Vietnam’s leading construction material maker Viglacera triples Q2 profit on industrial park leasing gains

Viglacera, Vietnam's leading construction material producer and industrial real estate developer, reported a 216% surge year-on-year in consolidated net profit in Q2/2025 to VND540 billion ($20.65 million).

Companies - Sun, July 27, 2025 | 10:51 pm GMT+7

Hanoi to begin construction of two major urban railway lines in late 2025

Hanoi to begin construction of two major urban railway lines in late 2025

Hanoi will break ground for two key urban railway projects in Q4/2025, as part of the city's long-term strategy to expand public transport system, thus easing traffic congestion.

Companies - Sun, July 27, 2025 | 1:52 pm GMT+7

Chan May-Lang Co set to become economic, eco-tourism hub in Hue city's southern region

Chan May-Lang Co set to become economic, eco-tourism hub in Hue city's southern region

After more than 15 years of development, the Chan May-Lang Co Economic Zone is undergoing a comprehensive master plan revision to unlock the potential of the southern coastal region of Hue city and meet new development demands.

Companies - Sun, July 27, 2025 | 1:47 pm GMT+7

Northern Vietnam province plans 720-ha int’l airport to tap tourism boom

Northern Vietnam province plans 720-ha int’l airport to tap tourism boom

Ninh Binh province, home to the UNESCO-recognized Trang An Landscape Complex, looks to develop a 720-hectare international airport with an annual capacity of 10 million passenger arrivals in order to capitalize on booming tourism.

Infrastructure - Sun, July 27, 2025 | 10:42 am GMT+7