31/08/2023
Kido establishes a subsidiary to produce fish sauce, wants every kitchen shelf to have more seasoning powder, soy sauce, fish sauce from Kido
02/03/2023
Kido contributed 196 billion VND to TA Foods and Spices, equivalent to 98% ownership. This is a company whose main business is processing and preserving fish sauce.
On February 23rd, the Board of Directors of Kido Group Joint Stock Company issued a resolution on capital contribution to establish a subsidiary.
Specifically, Kido established TA Foods and Spices Joint Stock Company, abbreviated as TA Foods and Spices Jsc.
This is a company with a charter capital of VND 200 billion, of which Kido contributes VND 196 billion, equivalent to 98% of charter capital.
The main business of TA Foods and Spices is processing and preserving seafood and seafood products. Details: Processing and preserving fish sauce.
Kido authorizes Chairman Tran Kim Thanh to act as the representative to manage Kido’s capital contribution in TA Foods and Spices and on behalf of Kido to exercise all rights and obligations of Kido as a shareholder of TA Foods and Spices .
Currently, Kido has 3 product lines including cooking oil, cake and ice cream. In which, Kido’s ice cream segment has a market share of up to 43.5% with Merino brand accounting for 24.8% and Celano accounting for 17.4%. The company owns a system of 15 transit warehouses, 300 distributors, 450,000 dry goods selling points, 120,000 cold goods selling points.
In a recent program, Kido’s CEO Tran Le Nguyen also revealed: KIDO’s upcoming strategy is how to put more seasoning powder, soy sauce, fish sauce in every kitchen shelf… from KIDO; because the company wants to diversify products – especially with essential products with large market shares, for easy development.
“In addition, KIDO will not launch more brands for new essential products in the kitchen, but will also use the Tuong An brand. Because having a system – having a brand is easier to do than building a new one” CEO Tran Le Nguyen expressed.
In 2022, Kido achieved net revenue of more than VND 12,500 billion, profit after tax of VND 374 billion. Revenue increased 19% but the company’s profit fell 43%.
Along with the resolution to establish a fish sauce trading company, the Kido Board of Directors also decided to postpone the closing of the list of shareholders to pay a cash dividend of 50%. The closing date of the list and the new payment will be announced by the company later.
Source: CafeF
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