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

THE CHAIRMAN’S OPEN LETTER TO CUSTOMERS AND INVESTORS

Seafood processing and exporting enterprises come into 2009 operation with full of difficulties such as narrowed consumption markets, sharply decreased selling prices, oversea buyer’s limited payment possibility….. partially resulting in farmers’ insecureness in aquaculturing to produce raw material for processing due to unstable prices, high risk of loss that makes difficulties heaped up with difficulties.   

The government’s demand stimulus package has impacted positively to the operation of the industry. Bank interest expense is decreased so that the enterprises get more energy to hold its activities. However, it is impossible to avoid force-majeure facts during past months i.e,  labors’ income is decreased, some parts of labors have to be off work in turns, others lose their jobs completely. Now, it  starts to have positive signals i.e, farmers in central areas have stocked with baby shrimps in much volumn, ones in western areas have started their new farming crops, but not as eventful as previous years. Russia has opened its door to consume fishery products from Vietnam…

In the first months of the year, FMC forces to cut out some of its labors on the basis of being a chance to clean up its labor force. Next step, though remaining difficulties, FMC’s Labor Union has organized amusement tours for about 500 good workers that aim to encourage workers’ spirit in the New Year. In the first two months of the year, due to facing difficulty in raw material, the Company’s Board of Directors has made its efforts to reach consumption turnover as equal as that of 2008 by all of its remedies.  As for vegetable factory, it has been operated smoothly more and more. The output of later month is higher than that of previous one. Whereas in December of last year- the month of opening ceremony- the exporting volumn was only 38 tons, but in January and February of this year, it is 92 tons for each. Raw material of vegetables has been invested and cultivated on farms and reached to about 130 hectares which will be doubled in several coming months. Russia has just approved two Vietnamese shrimp processing enterprises- including FMC- to sell their goods into this market…. These good signals will constribute to make FMC’s operation more thriving.  

                 Annual Meeting of Shareholders will be conducted at beginning of April on the basis of waiting the 2008 auditing result, having time to learn on raw material, market to propose more appropriate solutions, production and business criteria. Hope that with the best efforts from all of FMC’s labor team, FMC’s business situation will become brighter soon.  

                                                                       ADMINISTRATION BOARD

                                                                                 CHAIMAN              

                                                                             HO QUOC LUC