This morning, 15 April 2015, at headquarter of FIT Investment JSC, Chairman of FIT – Mr. Phan Trung Phuong welcomed Director of PYN Elite Fund – Mr. Petri Deryng to visit and take a closer look at FIT to seek opportunities on sustainable profits.
PYN Elite managed Mutual Elite Fund – a major shareholder of FIT. Muatual Elite still maintains a holding of 10% of FIT share in a long time. In early March 2015, this fund continued to purchase 3 million additional FIT shares.
At the meeting, Mr. Petri was introduced on the latest financial information of FIT; M & A philosophy: investing in large-scale industries, potential companies which have high growth capability; the potential of the subsidiaries and associates owned by FIT and the strategy of each company in the medium and long term.
Mr. Phuong also shared: in recent years, many foreign counterparties including customers of FIT and West Food desire to become investment partners in areas that FIT is focusing on, particularly agriculture, pharmaceuticals.
At the end of the meeting, Mr. Petri highly appreciated and was impressed with FIT’s strategy and what FIT had done in investing and restructuring of the companies owned by the group. He said that through this meeting today, he had a clearer vision of FIT as well as FIT’s ambitious and potential strategies. He expressed confidence in the future plans of the FIT and committed to maintain long-term investment with FIT.
* PYN Elite was established in 1999 and is an investment fund in Asia Market. Vietnamese securities held the highest investment proportion in total assets of Pyn Elite.
In an interview with the press recently, Mr. Petri said: “Elite Pyn strategy is long-term investment, so we usually do not like the “hot” stock. Pyn Elite looks at the market and value of the enterprise within the next 5-10 years, instead of only based on the level of growth in a quarter or a year”.
