The new personnel structure after the sale of shares, leaders of Ba Huan Food Joint Stock Company still affirmed, efforts to stabilize the price of poultry eggs.
On March 14, Ms. Pham Thi Huan, Chairman of the Board of Directors of Ba Huan Joint Stock Company had a private discussion with the “Newsman” about the sale of 25% shares of this business.
Conditions when selling shares: Preserve the brand in 50 năm
In the past few days, the news that Ba Huan Joint Stock Company sold 25% of the company’s shares to its partners has attracted public attention. The special thing is that the partner this time is domestic and the partner’s representative will also appear in the new leadership of Ba Huan Joint Stock Company. About the amount of money spent to buy 25% shares of Ba Huan Joint Stock Company was not announced by Ba Huan with its partners.
Ba Huan is a large and long-standing food brand in Ho Chi Minh City. Ba Huan Co., Ltd was established in July 2001 by Mrs. Pham Thi Huan, holding the position of director with charter capital of 8 billion dong. By 2016, this enterprise marked a new development when it became Ba Huan Joint Stock Company.
By the end of 2020, the Company has 12 affiliated units, 4 factories, 3 livestock farms, and 6 distribution stores. The company’s products have been present in 3000 large and small supermarkets nationwide… and have become familiar brands of domestic consumers and many countries around the world.
Currently, Ba Huan Joint Stock Company accounts for 30% of the poultry production market share in Vietnam and is one of the enterprises accompanying the Ho Chi Minh City market stabilization program for the past 20 years. Every day the company supplies the Ho Chi Minh City market about one million eggs.
The story of Ba Huan poultry eggs refusing to raise product prices has attracted the attention of many people at a time of intense Covid-19 epidemic in 2021.
In 2018, it was reported that VinaCapital Investment Fund spent millions of US dollars to buy 34% of shares of Ba Huan Company, leading to a series of noises and subsequent unsuccessful deals.
The sharing of Mrs. Pham Thi Huan
In recent days, there has been dense information that Ba Huan Joint Stock Company has sold shares to partners. Is this correct, ma’am?
Ms. Pham Thi Huan said: This is true, but detailed information, I am not convenient to exchange. The reason for this decision is because I consider myself to be older, this year is almost 70. So when I find a suitable partner, I cooperate to share the work, help the company develop better.
How did you research and consider this partner before deciding to sell shares, especially after the controversy with the foreign investment fund in 2018?
Pham Thi Huan said: “Different from the previous time, the partner this time is a domestic unit and has a long-term relationship with me, so I don’t worry about being acquired in the future. The young employee is Mr. Tran Viet Hung, who has studied abroad for a long time, has knowledge of new technologies and techniques, so he assumes the role of General Director, operating the business.
“I still have the right to decide on business policy”
How does this change affect the company’s operations, especially the market stabilization program that Ba Huan Joint Stock Company has implemented for the past 20 years?
Ms. Pham Thi Huan said: I affirm that the company will still participate in the market stabilization program, contributing with the Ho Chi Minh City government and the Government to ensure food for the people. Despite selling 25% of shares and having a new General Director, the company is still chaired by me, keeping important decisions on business policies. When selling shares, I have the condition that I have to preserve the company’s brand name for 50 years from the handover.
In the past time, under the pressure of constantly increasing gasoline prices, production costs also fluctuate, what is the direction of your business?
Ms. Pham Thi Huan said: I agree that consumer purchasing power in the past 2 years in Ho Chi Minh City has shown signs of slowing down due to the impact of the Covid-19 epidemic. Our company has participated in the price stabilization program of Ho Chi Minh City for 20 years now, so we have experience to adjust production costs even though the price of raw materials has increased by over 30%, so we can still keep the product price stable. for consumers.
Going through 2022, what are your expectations for support policies for economic recovery and development of HCMC in particular and the country in general?
Pham Thi Huan said: Over the past time, the Government has made great efforts to prevent and control the Covid-19 epidemic. Businesses should accompany by making more efforts, saving themselves. Businesses need to be more united and creative to stabilize prices, and to accompany the Government and people at this time.