49% of Golden Hope is currently owned by the Vietnam Vegetable Oils Industry Corporation (Vocarimex).
Vietnam's FMCG market in 2018 is expected to continue rising 6 - 7% against this year.
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Taking on the less-than-impressive business performance of Golden Hope, Nguyen said the cooking oil producer has revenue at VND1.6 trillion (US$70.3 million), with the governance of KIDO, he is confident that Golden Hope will be more efficient.
Nguyen cited a similar case of TAC, which was inefficient in operation before acquisition, but now the company saw a significant increase in revenue.
The group is also looking to enter the bottled water and noodle markets in partnership with a Thai investor to tap Vietnam's US$11-billion fast-moving consumer goods (FMCG) market.
KIDO Group, which sold out its snack business to Oreo maker Mondelez for US$460 million, focuses on three main consumer products: frozen food - primarily ice cream, instant noodle, and vegetable oil.
In 2018, KIDO aims to infiltrate and dominate the FMCG market worth up to VND250 trillion (US$10.9 billion), revenue of VND12 trillion (US$527.4 million) and pre-tax profit of VND800 billion (US$35.1 million), increasing 70% and 40% compared to 2017, respectively.
At the meeting, shareholders have approved the plan of increasing the cap on foreign-ownership ratio to 100%.
KIDO's revenue in 2017 reached VND7 trillion (US$307.6 million), 3 times higher than previous year due to revenue being consolidated from subsidiaries. Specifically, its profit from business is estimated at VND561 billion (US$24.6 million), up 380% compared to 2016.
Vietnam's FMCG market in 2018 is expected to continue rising 6 - 7% against this year, according to a Kantar Worldpanel report.
The results of Nielsen's Market Pulse research also showed that FMCG grew by 5% in the second quarter of 2017 in Vietnam, and 5.8% in the third quarter. This figure was estimated at 6-7% in the fourth quarter. Additionally, an increasing number of super markets and grocery stores are spurring the growth of the FMCG segment in the country.
In 2017, the market saw heated competition between supermarket and mini mart chains, with the 1,000 stores of Vinmart and Vinmart+ (VinGroup), 259 stores of Circle K, 11 stores of 7-Eleven in Ho Chi Minh City were duking it out for supremacy.
According to the General Statistics Office, in 2017, the total retail market hit US$130 billion, up 10.9% on-year, including the large contribution of the FMCG sector.
