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Tuesday, May 17, 2022

BAF invests VND120b in new subsidiary

The Saigon Times

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HCMC – BaF Vietnam Agriculture JSC, which is listed on the Hochiminh Stock Exchange under the ticker BAF, has announced its capital contribution to establish the BaF Meat Binh Phuoc Company.

BaF Meat Binh Phuoc has charter capital of VND120 billion, meaning it is wholly owned by BAF. The new company, headquartered in the Minh Hung Industrial Park in the southern province of Binh Phuoc, will mainly operate in the fields of processing, preserving meat and meat products, and real estate.

Bui Huong Giang, general director of BAF, is picked to represent BAF in the new concern of BaF Meat Binh Phuoc starting from February 10.

In the fourth quarter of 2021, BAF recorded over VND1.3 trillion in revenues and over VND76 billion in after-tax profit, down 70% and up over 371% respectively, against the same period in the previous year. Its gross profit margin improved from 1% to 10.4%.

Its consolidated revenues in 2021 exceeded VND10.4 trillion while profit after tax reached over VND321 billion, falling 18.9% and rising 602%, respectively.

In the local stock market, BAF ended lower by 0.72% at VND55,000 today, February 11.

In related news, the benchmark VN-Index lost 5.08 points, or 0.34% over the session earlier at 1,501.71, with 196 advancers and 240 decliners. Turnover on the southern bourse contracted over 6% in volume and 1.5% in value against the previous session at more than 636 million shares and nearly VND21.6 trillion.

The HNX-Index of the Hanoi market also closed in negative territory. It fell 1.34 points, or 0.31% versus yesterday to 426.89, with 132 stocks rising and 97 others dipping.

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