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Tuesday, August 9, 2022

Loc Troi joins hands with MBB to produce rice

The Saigon Times

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HCMC – Loc Troi Group has cut deals with the Kien Giang Department of Agriculture and Rural Development and Military Commercial Joint Stock Bank (MBB) to produce high-quality rice, with a total value of over VND12 trillion.

The deal is aimed at expanding rice production, improving the quality of farm produce, raising output and enhancing farmers’ quality of life.

Under the cooperation, MBB will provide credit worth VND12 trillion for all rice production activities, while the provincial department and Loc Troi Group will develop a rice-growing area of up to 300,000 hectares in the province. The entire output of rice will be exported, the local media reported.

The credit package will be valid until December 31, 2024, and will be able to be extended after the rice production chain works effectively.

Closing the trading session today, July 5, MBB gained 3.5%, extending its winning streak for two consecutive sessions despite the general somber sentiment on bourse, and reported a matching volume of over 16 million shares.

Increasing selloffs of many large-cap stocks drove down the VN-Index of the Hochiminh Stock Exchange to its intraday low. The index lost 14.24 points, or 1.19%, from the session earlier, at 1,181.29, with 120 gainers and 347 decliners.

Over 612 million shares worth VND13.8 trillion changed hands, up 38% in volume and 37% in value against the day earlier.

The Hanoi bourse also turned negative with 54 winners and 159 losers. The HNX-Index fell 3.25 points, or 1.16%, against the previous session, at 277.94.

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