The subject is a wholly-owned subsidiary of Kwong Lung Enterprise Co., Ltd. The company engages in manufacturing garment products. Finished products are mainly exported back to the parent company for consumption. In the latest investigation, the subject is still operating at present.Based on the expert's forecasts for the textile and garment industry, the orders are expected to be restored in the fourth quarter of 2023. Nevertheless, Vietnam Textile and Apparel Association (Vitas) believes that the recovery could be slow because spending on non-essential items takes time to recover, especially when the global economic recovery has not been clear. The average selling price will continue to remain at a low level and create pressure on profit margins.
Headquarters
Lot No. 4, Nguyen Van A Street, Tan Hiep Cluster (Bien Hoa II Industrial Park), Tan Hiep Ward
Bien Hoa; South Eastern Vietnam;
Postal Code: 76000
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