Ngoc Nghia Industry - Service - Trading Joint Stock Company (Vietnam)

The company focuses on manufacturing and trading plastic products: PET bottle, bottle cap and preform. Its products are used in various industries: food, beverage, cosmetic and chemical… Finished products, especially for PET bottles are consumed in Japan, Cambodia, Laos, Thailand, Philippines, Malaysia, India, Sri Lanka, Australia and other markets. In the following years, the subject will offer competitive prices to expand export activities, especially to Southeast Asia and West Coast of the United States of America.  In 2022, Indorama Netherlands B.V. acquired 97.815% of its shares and has become the biggest shareholder of the subject. The subject was officially delisted and left UpCom in July 2023. After leaving the stock exchange, this company suddenly made an ambitious 2023 business plan with a revenue target of VND 2,462 billion, an increase of 7% and profit after tax of VND 143 billion, nearly 9 times higher than last year's performance. In the first quarter of 2023, the subject recorded more than VND 490 billion in net sales, an increase of 13.7% over the same period in the previous year. Net income was more than VND 33 billion, more than 4.7 times higher than the first quarter of last year. With the achieved results, this company implemented 20% of the business plan and 23% of the yearly profit target.Indorama Netherlands B.V. - the subject's parent company, said to be under Indorama Ventures, whose predecessor was Indorama Holdings - Thailand's first wool and wool manufacturer, and became a large manufacturer of PET and polyester fiber products of this country in less than 15 years. Indorama Ventures later also transformed into a multinational corporation after a series of acquisitions in the USA and Europe, becoming a top global PET producer. The subject's acquisition was mentioned by the CEO of Indorama Ventures' PET, IOD and fiber business as a springboard to attack the Asia-Pacific market after expanding in the USA and Europe.