Huy Anh Rubber Company Limited (Vietnam)

The subject is a subsidiary of HUY ANH COMPANY LIMITED, which is located in Ho Chi Minh City and specializes in plastics and synthetic rubber in primary forms. The subject was established in 2014 in Thua Thien-Hue Province. It specializes in processing natural rubber products including RSS3, SVR10, SVR 20, and SVR3L. The materials are mainly purchased in the domestic market and imported from Laos, and the Philippines. The company exports natural rubber products to India, Taiwan, and China, as revealed by the staff of the sales department.Noticeably, the subject strongly increased the charter capital to VND 112 billion in May 2023. According to the media mass, the subject has just acquired the rubber latex processing factory of Ben Hai Rubber Joint Stock Company, which was sold by BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM QUANG TRI BRANCH (BDIV Quang Tri Branch). This factory has a total area of land of 3.33 hectares with a total investment capital of VND 21.79 billion. Ben Hai Rubber Joint Stock Company mortgaged this factory to the BIDV Quang Tri Branch but was later unable to repay the debt. The subject has acquired it from BIDV Quang Tri Branch for a value of VND 5.8 billion. As confirmed by the interviewee, this transaction has been completed.The below financial data showed that the subject's sales boomed in 2021 and 2022, having reached VND 496.7 billion for FY 2022. However, due to high COGS and operating costs, its profitability performance was humble. Its self-financing capacity was low because most of total assets were funded by liabilities. Its financial condition was average.