Share price rise makes Vinh Hoan chairwoman wealthy

Friday, Sep 26, 2014 18:22

Truong Thi Le Khanh, chairwoman and general director of Vinh Hoan Corporation. – Photo Baodautu
HA NOI — A significant increase in Vinh Hoan Corporation's share price has made its chairwoman and general director, Truong Thi Le Khanh, one of the richest women in Viet Nam.

According to the financial site, the seafood company recorded the best transaction to date when each of its shares were traded in the market at VND56,000 (US$2.6) last September 10. A year ago, the rate was only VND 21,000 ($1).

Khanh, 53, owns 30.4 million shares worth VND1.7 trillion ($80.95 million), and the share price increase last September 10 made her the eighth richest person in Viet Nam's stock market and the richest in the country's seafood industry.

Khanh was born in the southern province of An Giang and began working at the provincial Finance Department after graduating with a bachelor's degree in Economics. She then held important positions in various companies before putting up Vinh Hoan in 1997.

From a small company which specialises in trading seafood products, Vinh Hoan has since diversified into rice and collagen production. In 2012, it earned an export turnover of $174 million.

According to the corporation website, the extraction of collagen from tra fish skin has actively supported Vinh Hoan's core business. Profits from collagen production is estimated to reach VND35 billion ($1.66 million) this year and VND118 billion ($5.6 million) in 2016.

Based in Cao Lanh City, the corporation plans to build a 24-hectare rice growing and processing complex next year. With a total capital of VND616 trillion ($29.3 billion), Vinh Hoan is the only representative of the country's seafood industry in the Forbes Viet Nam magazine's list of the top 50 companies in 2013.

Vinh Hoan shares closed yesterday at VND54,500 ($2.59). In September, the share prices of seafood companies grew as a result of rising export prices, according to — VNS

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