Better Resin Jsc- Bac Ninh Branch (Vietnam)

Founded in 2014 in Bac Ninh Province, the subject is engaged in manufacturing plywood adhesive. According to the subject's accountant, the subject imports materials (mainly melamine and methanol) from China and Malaysia. Its operating markets are from Ha Tinh to Northern provinces.As reported data, business results had uptrend in 2021. However, the decrease in demand of the USA market for plywood products since Jul 2022 reduced the production capacity of plywood factories; indirectly affecting its business operation. As result, the estimated revenue for 2022 decreased to about VND 472 billion. The estimated profit of 2022 was also about half of 2021 due to the increase of input costs and expenses, she added. As reported data, the operation of this branch is effective.However, the branch is not an independent legal entity. It operates following the authorization of the head office. Any legal or liability obligations are under the responsibility of the head office. Therefore, default risk is not defined.