MFC specializes in providing functional ingredients and nutrition solutions for animal feed, aqua feed, and pet food industries. Its main products including hydrolyzed protein, hydrolyzed protein powder, oil from animal by-products, aquatic products, and insects are mostly consumed domestically and sometimes exported. Besides, the company also trades imported products from markets such as Norway, USA, and China.In January 2020, MFC was one of nine entities that received funding from the Fostering Innovation Through Research, Science and Technology - FIRST project of the World Bank. In addition, MFC is also a member of Vietnam Feed Association and has signed a memorandum of understanding related to the development of the pangasius industry with the Directorate of Fisheries and The Sustainable Trade Initiative. MFC is led by Chairman Mr. Nguyen Anh Ngoc. He is also the head of Nan Group Corporation with a system of related companies.In the context of the traditional source of raw materials that are commonly used is contaminated with heavy metals, which affects the reputation of export companies and the national reputation. Furthermore, the supply of imported raw materials being interrupted, the price escalation caused many difficulties for manufacturing enterprises. The change of alternative sources of sustainable production materials from domestic source is a common development trend of these industry. MFC therefore has room for huge revenue growth in the future. It is expected that by the end of 2023, MFC will complete two lines specializing in the production of hydrolyzed protein from fish by-products, insects, shrimp by-products, and squid to supply to Vietnam and international markets. However, in order to invest in a large production capacity align with a potential market, the company's shareholders have weak financial potential compared to the investment scale. As of 29 Dec 2022, MFC has outstanding loans of VND 378,473 million and USD 220,931 off-balance sheet commitment at credit institutions. In addition, it also has special mention amount of VND 3,000 million at Vietnam Prosperity Bank in the last 12 months. With the current high interest rate market, the company will have difficulty in paying interest if it cannot solve cash flow and liquidity problems.
Headquarters
3rd Floor, IOS Building, No. 602/27, Dien Bien Phu Street, Ward 22
Ho Chi Minh municipality; South Eastern Vietnam;
Postal Code: 70000-74000
Contact Details: Purchase the Mfc Group Joint Stock Company report to view the information.
Website: https://www.marinefunctional.com/
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