Large corporations fall into multi-field business trapVietNamNet Bridge - Investing in many business fields and expanding too rapidly, some large corporations have lost prestige and fallen into debt. HVG invests in many projectsHVG reported post-tax loss of VND713 billion in 2017, which was 14 times higher than the VND49 billion loss in 2016. At first, it was known as a big seafood processor and exporter, and as a big investor. It has been mostly processing inventory materials to fulfill export contracts.Insufficient materials, large fixed costs, plus allowances for workers during the production interruption, all have increased the production cost by 30 percent. US$1=VND22,000RELATED NEWSUS tax reform to have adverse effects on seafood, garment, footwear sectorsSOEs suffer from bad investments in non-core businessesXuan Mai

Source: VietNamNet News April 22, 2018 07:18 UTC