NOBASHI
NOBASHI VANNAMEI
RAW
HO CENTRAL PEELED BT
COOKED
COOKED PDTO VANNAMEI
PRE-FRIED SHRIMP
FRITTER VANNAMEI
VEGETABLES
GINGER
VEGETABLES
BÍ NHẬT
NOBASHI
NOBASHI VANNAMEI

CONTENTS OF ADMINISTRATION BOARD’S PERIODIC MEETING

On July 01st 2007, FMC’s Administration Board has hold the 3rd meeting of year 2007 with following contents:

1/ Evaluation of the first 6 months of the year :
· Due to off-season, raw material is very few, in bad quality and high price.
· Market consumption is dull; Particularly, Russian market temporarily stop importing Vietnamese seafood; Customers from Japan decrease their purchasing quantity of Vietnamese seafood to minimize risks (due to Vietnamese seafood contaminated with bacteria and banned antibiotics) that affect drastically to FMC’s production and business activities, especially in the past second quarter.

· FMC has conducted its procurement of raw material from other provinces, attended international and domestic seafood exhibitions to seek for more customers and achieved good results.
· FMC has re-organized its key and grassroots staff forces in a more reasonable step; review charges and fees to ensure economic and effective business activities.
· Preliminary outcome:
- Consumed final products: 2.470 tons, equivalent to 105.9% from the same period of 2006.
- Value of consumption : USD 26,5 million, equivalent to 116.7% from the same period of 2006.
- Profit : will be announced after finishing financial statement.


2/ Solutions to impulse production of the last 6 months of the year:
· To be in the peak season, so processing plants’ activities should constanly be corrected to ensure good quality, productivity and output.
· Pay more attention to oversea and domestic market development to get many consumption contracts. Continuously seek for customers by participating international seafood exhibitions to provide against Japan to stop purchasing Vietnamese seafood.
· Review coefficients, economize in every aspects to decrease fees and increase effect.


3/ As for projects:
A - The project of Tra fish farming and processing: waiting for land allotment from An Lac Thon Industial Zone (about 25 hectares). Due to long-lasting land allotment, work execution will probably be proceeded at end of the year.
B - The project of agricultural product cultivating and processing: factory design is being done. Work execution will be effected in this year. Agricultural product cultivation should immediately be conducted for customers’seeing, expectedly, the cultivation will be done on unoccupied land next to the factory.
C - The project of frozen seafood factory: Proceeding from actual situation, severe competition of raw material procurement in off-season, in order to ensure the effectiveness of raw material collection, the Company will build a small frozen seafood factory with the cost lower than VND 20 billion at the boundaries of CaMau-BacLieu. The work shoud be developed as soon as possible to serve for operation of year 2008.


4/ As for the decrease of FMC’s share price :
Fluctuation of share price is normal, but it should have a direction to promote the information of the Company’s activities more broadly so that investors can understand exactly about FMC.