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Japanese firm acquires Cholimex stake

Update: April, 21/2012 - 08:48

HCM CITY — Japanese company Nichirei Foods has become a strategic shareholder in the HCM Stock Exchange listed firm Cholimex (CLC) after paying US$6.25 million for a 19-per-cent stake in the company, which mostly makes sauces and spices.

The VND80 billion (US$3.8 million) company last year earned a net profit of almost VND35 billion ($1.6 million), surpassing its annual target by 21 per cent. Shareholders will receive a 20 per cent cash dividend for 2011.

At the company's annual meeting on April 20, shareholders approved a target of VND47 billion ($2.24 million) in pre-tax profits this year. — VNS

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