PAN Group to raise stake in Khang An Food

06-May-2021 Intellasia | VNS | 5:02 AM Print This Post

Vietnamese agriculture and food company PAN Group JSC (PAN) has announced plans to contribute VND100 billion (US$4.3 million) to Khang An Food Joint Stock Company to increase its ownership to 28.57 per cent of charter capital in this company.

Khang An Food currently has a charter capital of VND234 billion and expects to increase the figure to VND350 billion, with an aim of investing in a processing factory for shrimp and a shrimp farming area, in 2021.

As of March 31 this year, Sao Ta Food Joint Stock Company (FMC) owned 77.09 per cent of charter capital in Khang An Food Joint Stock Company. Meanwhile, PAN owns 64.45 per cent of the capital at Sao Ta Food.

This year, PAN hopes to achieve net revenue of VND10 trillion and an after-tax profit of VND419 billion, up 20.4 per cent and 25.7 per cent, respectively, compared to 2020.

Based in the southern province of Soc Trang, Sao Ta is involved in farming and processing prawn and shrimp. Its products are mostly sold in Japan, the US and Canada.

Khang An Food also operates in processing and preserving seafood, buying and selling food, preliminary processed agricultural products, production and export of agricultural products.


Category: Business, Vietnam

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