Analyst Pin-board MPC – The US Finds That MSeafood Evaded Anti-Dumping Payments
After more than a year of receiving an allegation from a domestic shrimp manufacturer, CBP on October 13, 2020 officially concluded that MSeafood committed origin fraud in order to evade anti-dumping (AD) duty. Facing this unfavorable decision, Minh Phu announced that it would appeal. In terms of business performance, we have found that the firm's competitiveness in the US has shown signs of decline and we are also concerned about the progress of implementing new farming technology, which will determine the growth of the company in the future. In 2020, profit may grow strongly but it is possible that the company could not complete the year plan. We will continue to monitor this case and update on new developments. Recommendation: MONITOR.
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