HCM CITY (VNS)— Viet Nhat Seafood (VNH) yesterday announced it had to sell some of its assets to raise capital for its operation.
Specifically, it will sell VND12 billion (US$571,400) in Phu Nhat Canned Food Co Ltd, which has a charter capital of VND36 billion ($1.7 million).
In addition, it had sold a VND54 billion ($2.5 million) property in HCM City to Sai Gon Trading Group earlier this year.
The company expects modest revenue and profits of just VND80 billion ($3.8 million) and VND4 billion ($190,000) for this year.
VNH shares lost 3.8 per cent yesterday to just VND2,500 ($0.10). — VNS