Vietnam 

Mitsui Co to invest in Vietnamese shrimp producer Minh Phú – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  A seafood processing line at Minh Phú Seafood Joint Stock Company. Mitsui will  help Minh Phú to achieve further growth through the application of digital technology. — Photo nhaquanly.vn HÀ NỘI — Japan’s Mitsui & Co Ltd has agreed to acquire a 35.1 per cent of stake in Minh Phú Seafood Joint Stock Company, the world’s biggest shrimp integrator from farming and processing to sales. Minh Phú owns two processing plants and shrimp farms covering a total of 900 hectares in southern Việt Nam. It has built a strong position by vertically integrating all stages…

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Singapore 

Aesthetics doctor Georgia Lee sued by TV producer who claims she got misled into investing $2m into Dr Lee’s skincare business, Singapore News

SINGAPORE – Well-known aesthetics doctor Georgia Lee is being sued by a movie and TV producer who claims she had been misled into investing $2 million in Dr Lee’s brand of skincare products in return for a 5 per cent stake. Ms Anita Hatta, who was executive producer of TV series Asia’s Next Top Model in 2012 and 2013, is alleging fraudulent misrepresentation and minority oppression in her suit. She is seeking the return of the $2 million or a buy-out of her shares. The case, which opened in the…

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Vietnam 

Steel producer Hòa Phát targets US$3 billion revenue – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Hòa Phát Group targets after-tax profits of VNĐ6.7 trillion on revenues of VNĐ70 trillion (US$3 billion) this year. The figures were announced after they were approved at the steel giant’s annual general meeting in Hà Nội last week. Last year consolidated revenues were VNĐ56.5 trillion and after-tax profits were VNĐ8.6 trillion, up 21 per cent and 7 per cent. The company’s general director, Trần Tuấn Dương, said the profit target is 22 per cent lower than last year’s because the…

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Home 

China’s No 2 pork producer eyes expansion amid deadly outbreak of African swine fever

China’s second-largest pork producer says it will increase production this year despite a serious outbreak of swine fever, betting on reduced supply and surging prices to boost profits.A total of 112 cases have been reported in 28 of China’s 34 provinces since August, resulting in the cull of over 950,000 pigs. The virus has also been detected in Mongolia and Vietnam, according to the Food and Agriculture Organisation (FAO) of the United Nations.The disease is fatal to hogs but does not affect… Source link

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Home 

Pork producer WH Group calls for end of trade war, as 2018 profit drops 4 per cent

China’s WH Group, the world’s largest pork producer, called for an end to the US-China trade war on Friday, citing higher tariffs on US exports to China as one factor weighing negatively on its underlying business.The outbreak of the African swine fever and rising meat production in the US were also negative headwinds, the company said.Net profit for 2018 fell 4 per cent to US$1.05 billion, WH Group said in filing on Friday.Revenue was up 1 per cent to US$22.61 billion, slightly beating… Source link

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China 

China’s producer price index holds steady in February as deflation stalks economy

China’s producer prices were stable at a very low level in February, with the risk of a fall back into damaging deflation in the coming months hanging over the economy.Producer price inflation (PPI) edged up 0.1 per cent in February from a year earlier but was the same rate as in January, which was a 28-month low. The February result was below expectations of a rise to 0.2 per cent, according to a Bloomberg survey. As in January, the PPI eked out a tiny gain amid broad-based weakness in prices……

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Home 

China’s second largest dairy producer Mengniu Dairy says Indonesia expansion was fraught with hurdles

Mengniu Dairy, China’s second-largest dairy product producer, said it faced challenges in securing the supply chain for production when opening a new milk-based drink plant in Indonesia in November. Lu Minfang, chief executive of Mengniu Dairy, speaking at the official opening of the plant in Bekasi, located on the eastern border of the capital Jakarta, said it was an ordeal to secure raw materials and packaging needed to get the project into operation. “Indonesia lacks support for industries. It is not as good as more developed countries,” said Lu. “The…

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Vietnam 

KIDO acquires cooking oil producer Golden Hope Nhà Bè – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

KIDO products at a supermarket in HCM City. — VNS Photo Viet Nam News HCM CITY — Food producer KIDO Group announced on Thursday it has bought out Sime Darby’s 51 per cent stake in cooking oil producer Golden Hope Nhà Bè to become its sole owner. It did not disclose the price. KIDO, which earlier bought Tường An Vegetable Oil Joint Stock Company and Việt Nam Vegetable Oils Industry Corporation (Vocarimex), said the acquisition of Golden Hope is part of its plans to expand cooking oil…

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