Tan Hong Food Limited Company (Vietnam)

Founded in 2011, the subject specializes in milling and trading rice products. Being a wholly-owned subsidiary of LOC TROI GROUP JOINT-STOCK COMPANY, its business activities are mostly performed based on directions of the parent company.The subject has had stable rice material areas of around 3,000 hectares per rice crop via consumption contracts signed with agricultural cooperatives throughout Dong Thap, Long An and Tien Giang provinces. Its rice products are supplied to domestic market as well as are exported oversea. As revealed, its rice products have been exported by LOC TROI GROUP JOINT-STOCK COMPANY to Philippines, China, EU countries, Hong Kong, Singapore, Canada, Africa... since recent years.According to Mr. Nguyen Van Thien - the chief accountant, due to the direction of LOC TROI GROUP about stopping trade of non-branded rice products to specialize in branded rice products in mid of 2019, both of total sales and inventories last year was narrowed against 2018.Noticeably, he also said that due to negative effects of the COVID Pandemic along with above mentioned product restructuring direction, revenue of the subject in the first half of 2020 decreased rapidly by about 50% against the same period last year. Anyway, its business has been recovered well since early July. In which, its revenue in the third quarter of 2020 reached about 90% of volume in the third quarter of 2019, he added.