Lien Anh Production Rubber Co., Ltd (Vietnam)

The subject has existed in this industry for 23 years. So, it acquires and buys some customers such as R1 INTERNATIONAL PTE LTD (2018, 2023), TOPSHIP CHEMICAL CO.,LTD (2018, 2023), NAMAZIE INTERNATIONAL PTE LTD (2018, 2023), TEODORO GONZALEZ SA (2018), TONKIN TRADING LIMITED (2018), CENTROTRADE DEUTSCHLAND GMBH (2018), WEBER & SCHAER GMBH & CO.KG (2018, 2023), CNKU CO.,LTD (2018), SAILUN (VIETNAM) CO., LTD (2021) and so on.Based on its website, its long term goals is to equitize the company, to increase investment capital and competitiveness in domestic and foreign markets. It expanded production scale, invested in developing new products and produced rubber products. So, in 2011, it has entered into a joint venture with a partner to install a bubble production line (MALAYSIA VIETNAM RUBBER GROUP CO., LTD in Tay Ninh province). It seems to fail to invest in this sub (see detail in financial commentary below).Its domestic market is Ho Chi Minh City, Da Nang, Binh Duong, Hai Phong, Nghe An, Quang Ninh; Industrial parks: Trang Bang, Song Than, Tay Bac, Cu Chi, etc. while its export market is USA, UK, Brazil, Russia, Italy, Romania, Spain, Netherlands, Hong Kong, Egypt, etc. In addition, Laos and Cambodia are also two large markets supplying materials for cup latex, liquid latex and granulated latex for Lien Anh. For six months of 2022, it was list of the top 5 rubber exporters in Vietnam.For investor, even though there have been many times for changes in shareholders, Mr. Doan Van Luc is the largest one and a senior manager. In addition, all members have the same last name “Doan”. Thus, we need to assess his risk appetite and management style because he has power on its key policies (investment, financing, purchasing, etc.). We can see that he communicated with a long term individual partner (see negative news section below).