How many subsidiaries does Mobile World have after dissolving Toan Tin and 4KFARM?

Mobile World Investment Corporation has just sent a document to the Ho Chi Minh City Stock Exchange (HOSE) reporting that the Board of Directors has approved the decision to dissolve its subsidiaries.

Accordingly, Mobile World will dissolve Toan Tin Logistics JSC and 4KFARM JSC to restructure the group of subsidiaries to optimize operations.

Toan Tin Logistics Company was established in November 2021, operating mainly in the field of road freight transport. This enterprise is providing warehousing services and supplying goods to supermarket chains Bach Hoa Xanh, The Gioi Di Dong , An Khang... nationwide.

4KFarm is a high-tech agricultural development project of Mobile World since 2020 in Ba Ria - Vung Tau province. This is a high-tech agricultural farming model according to 4 criteria: no pesticides, no genetically modified foods, no growth stimulants and no preservatives...

After dissolving these two enterprises, Mobile World still has 9 subsidiaries, including: Mobile World Joint Stock Company (owns 99.95%), Bach Hoa Xanh Trading Joint Stock Company (99.95%), Tran Anh Digital World Joint Stock Company (99.33%), An Khang Pharma Pharmaceutical Joint Stock Company...

Information about Mobile World's subsidiaries Source: Consolidated financial report Q1/2024

The dissolution of these two subsidiaries is part of the restructuring plan that Mobile World Chairman Nguyen Duc Tai mentioned at the recent 2024 annual shareholders' meeting.

Mr. Tai said that this process has not ended but will be renewed every 6 months to 1 year to ensure "we do not have anything redundant in the body, ensuring that everything retained is effective. Thus, we will have a compact, delicious, strong organization".

Regarding Mobile World, after the first 3 months of 2024, this group has grown again, recording revenue of 31,441 billion VND, an increase of 7% compared to the first quarter of last year, completing 25% of the year's plan.

Notably, after deducting expenses, Mobile World's net profit was VND 902 billion, 43 times higher than the same period in 2023 and the highest level in 6 quarters since the second quarter of 2022.

On the stock exchange, MWG shares have increased strongly since the end of April, from 48,000 VND to nearly 60,000 VND/share; at the same time, they have been continuously sought after by foreign investment funds.

Source: https://nld.com.vn/the-gioi-di-dong-bat-ngo-giai-the-2-cong-ty-con-196240509165320107.htm