Siba Group (SBG) adjusted the capital contribution to the subsidiary down to 2 billion VND

VHO - Siba High-Tech Mechanical Group Joint Stock Company (Siba Group, stock code: SBG) approved the policy of adjusting the capital contribution reduction to establish Ocoba Food Joint Stock Company.

Ocoba Food operates mainly in the field of milk and dairy products processing. Illustration photo

Siba Group approved the reduction of the initial registered capital to establish Ocoba Food Joint Stock Company from 60 billion VND to over 2.01 billion VND. Of which, Siba Group planned to initially contribute 59.99 billion VND but only contributed 2 billion VND.

Reason for adjusting capital contribution to establish the company, Siba Group based on legal regulations on the obligation to contribute the full committed capital within 90 days, Siba Group has developed a plan to contribute additional capital to Ocoba Food using land use rights.

However, due to the fact that the legal procedures related to land use rights have not been completed in a timely manner by the competent authority, the value of this asset cannot be officially recorded as the charter capital contributed to the Subsidiary Company according to the plan and current legal regulations.

Ocoba Food Joint Stock Company was established on July 26; located on the 7th floor, Vista Tower building, 628C Vo Nguyen Giap street, An Khanh ward, HCMC. Legal representative is Nguyen Van Duc and its main activities are in the field of processing milk and dairy products.

The establishment of a subsidiary in the dairy sector marks a remarkable expansion of Siba Group, which originated from the mechanical engineering, construction and production of equipment for industry and agriculture .

Siba Group is currently a listed company on HOSE and is also the second member of Mr. Truong Sy Ba's Tan Long Group ecosystem, after BaF Vietnam Agriculture JSC (stock code: BAF). Mr. Ba is also the Chairman of the Board of Directors of both companies.

Siba Group has a close relationship with BaF Vietnam through the provision of mechanical products for livestock farming and farm construction. Expanding into the dairy sector could be part of Tan Long Group's strategy to integrate the agricultural and food ecosystem.

Currently, in addition to Ocoba, Siba Group owns a level 1 subsidiary, Vmeco Bac Lieu Clean Energy Company Limited, established in 2020 with a charter capital of 20 billion VND, operating in the field of solar power.

At the same time, the company also owns a second-level subsidiary, Stemkos Vietnam Trading JSC, operating in Ho Chi Minh City in the field of electricity production. Previously, Siba Group had other subsidiaries but they were dissolved or divested, such as Vmeco Dong Thap and Sibacons Construction Investment JSC.

At the 2025 Annual General Meeting of Shareholders, Chairman Truong Sy Ba shared the orientation of expanding into many new fields such as waste treatment, automotive mechanical engineering, and energy. In particular, developing rental farms is considered the focus of the year, to support the high-tech mechanical sector.

Siba Group's focus this year is to complete the high-tech mechanical factory in Ba Ria - Vung Tau in the third quarter, with a total investment of 626 billion VND.

According to General Director Nguyen Van Duc, the factory will produce air systems, clean rooms, metal processing products and automatic livestock equipment such as silos, feeding systems... When put into operation, the factory is expected to bring in about 1,000 billion VND in revenue each year.

Source: https://baovanhoa.vn/kinh-te/siba-group-sbg-dieu-chinh-von-gop-vao-cong-ty-con-xuong-con-2-ti-dong-175086.html