YeaH1 joins hands with MangoTV; VinFast cars go to Africa; Sudico will change its name; Vinatex exports fireproof fabric

Ca Mau Fertilizer exports large shipments to Australia and New Zealand; Sudico plans to change its name; VinFast exports cars to Africa; Vinatex exports fire-resistant fabric for the first time

YeaH1 is a strategic partner of MangoTV

At the Hong Kong International Film and Television Market (Filmart), Ms. Le Phuong Thao, Chairwoman of YeaH1 and Mr. Truong Chi Hong, Chief Financial Officer of MangoTV signed a Strategic Cooperation Agreement.

YeaH1 and MangoTV Signed a Strategic Cooperation Agreement

The event marks a period of strong and extensive cooperation between the two corporations in all aspects - from script transfer, original content creation experience, production and management processes to training and talent development.

Mr. Truong Chi Hong said he was impressed with the appeal of the 2023 Vietnamese version of the program "Beautiful Sister", so they decided to expand their cooperation with YeaH1 to bring the two businesses to a larger scale, focusing on three copyrighted game shows including "Super Mom", "Beautiful Sister Riding the Wind and Breaking the Waves" and "Brother Overcoming Thousands of Challenges".

In her speech, Ms. Phuong Thao said she was honored to be chosen by MangoTV as a comprehensive strategic partner in the new period and commented that YeaH1 is always actively innovating and steadfastly promoting high-quality content on multiple platforms.

"The event will open up a series of great opportunities for YeaH1, especially receiving the transfer of quality, large-scale content production capacity from MangoTV - the leading unit in China. We believe that the cooperation will bring great results, adding new vitality to the development of the two businesses, and at the same time bringing the audience a series of more attractive programs," said Ms. Phuong Thao.

YeaH1 is one of the leading units in the field of media and content production in Vietnam, the first media enterprise listed on the Vietnam Stock Exchange (HOSE: YEG).

VinFast exports cars to Africa

VinFast has just officially announced the signing of an agreement with Jospong Group of Companies, Ghana's leading multi-industry group, on distributing electric vehicles in the Ghanaian market and the West African region. The agreement marks VinFast's presence in Africa.

VinFast will come to Africa from Ghana

Accordingly, Jospong will distribute VinFast electric cars, electric motorbikes, electric bicycles and electric buses in the Ghanaian market in particular and West Africa in general. Jospong also plans to deploy public charging infrastructure nationwide to promote the development of electric vehicles here.

Cooperating with one of the largest multi-industry business groups in the West African country, VinFast affirms its commitment to providing global consumers with green and smart transportation options, while exploring the potential in the growing African electric vehicle market.

Jospong Group's business activities span 14 sectors in African and Asian countries with 60 subsidiaries, notably in the automotive, waste treatment, information technology and banking sectors.

In addition to the vehicle distribution agreement, Vingroup also signed a Memorandum of Understanding (MoU) with Jospong on establishing a priority partnership. Accordingly, the two parties will actively work towards business cooperation opportunities in important areas such as electric vehicles, taxis, public transport, education, hotels, real estate development and other areas.

The Ghanaian and West African electric vehicle market has great potential for growth with high headroom and little competition. Demand is expected to increase rapidly with the government’s support to achieve net zero emissions in the transport sector. The country expects a large number of petrol stations to be used for sustainable transport such as electric vehicles by the end of 2040.

Through cooperation with Jospong Group, Vingroup and VinFast can quickly consolidate their position and affirm their stature in the electric vehicle market in particular and the sustainable transportation industry in general in the region.

Sudico plans to change its name

Sudico has announced documents expected to be submitted to the 2024 Annual General Meeting of Shareholders, scheduled to take place on March 20.

Specifically, in 2024, Sudico plans to do business with total revenue of VND 858 billion, an increase of 60.1% over the same period, pre-tax profit of VND 350 billion, an increase of 38.3% compared to the implementation in 2023 and expected dividends from 10% to 15%.

Sudico expects to build a new brand after changing its name.

Of which, the total investment value is expected to increase by 34.9% compared to the implementation in 2023, equivalent to an increase of VND 368 billion, to VND 1,421 billion.

The company's board of directors said that the criteria for completing the 2024 plan is the progress of the company's ongoing projects. Specifically, the Van La project has completed investment policy approval, registered in the 2024 land use plan to clear the remaining land, and bury power lines...

Sudico revealed that, first of all, to ensure revenue, in 2024 the company plans to trade some products in Nam An Khanh and Bac Tran Hung Dao expansion, and handle contracts with old customers who are level 2 investors of the Nam An Khanh project.

It is known that in 2023, Sudico recorded total revenue of 536 billion VND, achieving 99.3% of the revenue plan of 540 billion VND and pre-tax profit recorded 253 billion VND, achieving 116% of the profit plan of 218 billion VND.

Based on the 2023 business results, Sudico decided to submit to shareholders a plan not to pay dividends in 2023 with the reason to focus capital on production and business.

Most notably, the Board of Directors of the Company continues to submit to shareholders a plan to change the company's name, which was approved in 2023 but has not been implemented. The company's management believes that the name change and address change are for convenience and to meet work requirements. Sudico hopes to build a new brand, a new face in the Vietnamese and international real estate market.

The new name and new head office address have been authorized for the Board of Directors to select, review and decide at the appropriate time. Initially, the Company will move its office to 105 Chu Van An, Ha Dong and complete the corporate organizational structure.

Restarting the charter capital increase plan is also one of the contents that the company's leaders continue to mention to strengthen financial capacity, serving the Company's long-term investment and development strategy. The capital increase plan was approved by the 2022 Annual General Meeting of Shareholders, but has not been implemented due to unsuitable market developments.

According to that plan, Sudico plans to issue 126.3 million shares to increase charter capital, at a rate of 110%. There are two methods of issuing shares: First, issuing 29.86 million shares to pay dividends for the years 2018 to 2021. Second, issuing 96.27 million bonus shares, at a rate of 84%. The source of capital for issuance is from undistributed profit after tax; from capital surplus; and from capital surplus. After issuance, Sudico plans to increase its charter capital from VND 1,148 billion to VND 2,411 billion.

Vinatex will export fire-resistant clothing

Vietnam National Textile and Garment Group (Vinatex) has just signed a memorandum of understanding on cooperation in the business of fire-resistant fabrics and clothing with Coats Group. Under this cooperation, Vinatex will manufacture and sell fire-resistant fabrics and clothing under exclusive orders for Coats and its branches worldwide.

Vinatex signed a memorandum of understanding on business cooperation in fire-resistant fabrics and clothing with Coats Group.

Coats will be responsible for technology licensing, product technical standard certification, product design and development, technology transfer, sales, promotion, marketing and distribution, providing samples of fire-resistant fabrics and clothing. The group is also committed to developing fire-resistant fabrics to ensure competitive products that meet market needs.

Fire-resistant fabric products are researched and manufactured according to a closed technological process transferred by Coats Group at Vinatex, from fiber - yarn - weaving - dyeing - finishing - sewing to packaging, meeting the standards of each industry.

With the cooperation foundation of Vinatex and Coats for many years, the two businesses spent nearly a year researching, testing the product, and transferring technology. Up to now, the product has been accepted and meets all customer requirements.

Including international standards for product quality: OEKO - TEX 100 standard; UL approval and listing on UL directory, protective clothing, fire-resistant clothing, protective clothing and equipment for forest fire fighting...

Fire-resistant fabric products are manufactured in two lines: from heat-resistant fibers and from chemicals that coat the fabric to prevent heat sources from coming into contact with the protective material.

This product will serve for labor protection in fields such as welding, electric sparks, mining, flammable environments, etc. The manufacturer will have to purchase insurance for the product to ensure quality and safety during use.

Vinatex said it will take advantage of this to target export revenue of fire-resistant fabric products in the next 5 years of 80-100 million USD per year. This year, the Group aims to achieve revenue of 5 million USD for this product.

Ca Mau Fertilizer exports large shipments to Australia and New Zealand, followed by Mexico

Ca Mau Fertilizer is currently preparing the final procedures to export high-end products to the world's two most "demanding" markets, Australia and New Zealand.

By the end of 2023, Ca Mau fertilizer of Ca Mau Fertilizer has been exported to 18 countries and territories around the world.

Information from a representative of Ca Mau Petroleum Fertilizer Joint Stock Company (Ca Mau Fertilizer) said that New Zealand and Australia are two markets that are willing to buy granular urea fertilizer at very high prices compared to other countries, but have strict requirements on product quality.

Therefore, from the beginning of 2024 until now, along with focusing on human resources to prepare for this high-quality shipment, the company has gradually improved the quality of all stages from transportation and loading services to the stage of goods leaving the factory warehouse, ensuring the best quality of goods, high loading and unloading speed compared to the general level of exporters in the world, shared a representative of Ca Mau Fertilizer.

By the end of 2023, Ca Mau Fertilizer products of Ca Mau Fertilizer have been exported to 18 countries and territories around the world. To promote export activities, Ca Mau Fertilizer is continuing to seek and expand export markets.

In addition to New Zealand and Australia, America is also considered a potential market by Ca Mau Fertilizer, a priority for exploitation. The company is also preparing to export a shipment of more than 35,000 tons to Mexico.

Source