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Infoodco held the Annual General Shareholders Meeting 2015

Updated : 29-12-2015 13:08:46

Saigon Industrial Foodstuffs Joint stock company (Infoodco) held the Annual General Shareholders’ Meeting 2015 at Edenstar Hotel, 38 Bui Thi Xuan Street, Ben Thanh Ward, District 1, Ho Chi Minh City on June 4, 2015. There were 53 shareholders accounting for 73.67% of voting shares present at the meeting. 

The overview of Annual Shareholders 's Meeting in 2015
 

Facing a lot of challenges since 2013, apart from bad debts, business problems in cigarette exportation to Cambodia resulting in the investigations of some managers by end of 2013, the company had to bear and deal with the large inventory of Chuong Duong beverages, and other commodities including Nestle, Trung Nguyen, Masan, etc. products.

The impacts of the above challenges and the instability of the market supply and demand resulted in the revenue of only VND 802.53 billion, accounting for 53.5% of the plan. The core commodities of sugar and beverages still account for the largest percentage. Yet the market share of the bagged sugar is not as high as that of previous years due to the low price contraband sugar, and the competition of other manufacturers and companies of the same commodity, and the reduced demand for consumption of manufacturers and consumers, etc. 

Facing considerable difficulties of the company, its operation showcased recognizable highlights: the management board has made every effort and determined to timely and quickly address solutions to collection of bad debts; made initial steps in re-structure of human resources to reduce the quantity but increase the performance of the employees in the company units and branches; re-organized the area for services of space lease, storage; called for investors and partners, etc. Besides, the Company has successfully built its new image and website to meet the market trend; promoted commercials for its new image. 

 

“Using up the company’s existing facility, human resources and advantages to boost essential commodities; besides, to promote strategic products for sustainable growth, to increase income and benefits for shareholders and employees, ” said Mr. Huynh Cong Trung, director of Infoodco in a meeting. 

As stated in the orientation of 2015, Infoodco will focus on enhancement in distribution of conventional commodities including sugar, beverages, beer, cooking oil, etc. to regain its market position and quickly recover the company’s “health”; diversify distribution channels and look for suitable sources of goods. 

Aiming at its stable and sustainable growth, the company has made a plan for selection of effective distributors for continuing development, cutting down investment in ineffective ones; going through existing customers and looking for new ones; re-structure of commodities to adapt to the current market situation. The management team has addressed the plan for boosting space and storage lease, calling for investors in various commodities to increase its revenue. 

With respect to import and export, Infoodco will maintain, expand importation to Laos, Cambodia, Myanmar markets, apart from looking for potential commodities suitable for Vietnam market for business expansion. 
Additionally, Infoodco shall focus on PR activities, to develop the company’s image in 2015 to attract the attention of consumers to help them easily recognize the company’s products and services, aiming to reduce marketing expenses in the future. 


The General Shareholders’ Meeting has voted and approved the proposals on 2014 profit distribution, payment for the expenses incurred by the Board of Directors, Supervision Board in 2014 – planned payment for 2015 expenses, authorization for the Board of Directors, Supervision Board to appoint an auditing company for 2015 financial statements, etc. 

 

INFOODCO

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