Ych-Protrade Company Limited (Vietnam)

The subject is a part of the Singapore-based ‘YCH group' engaged in supply chain services management. It offers the logistic and supply chain services. It has been in the business for 14 year experiences in this industry in Vietnam.It is joint venture between Protrade and YCH to tap on the budding ASEAN nation's burgeoning economic activity. Its parent company is the eCommerce arm of YCH group with partners being Amazon, iShop Changi, Jd Central, lazada, Qoo10, Shopee, Tokopedia, Tiki, Zalora, Ascentis, Saac, Janio, J&T express and so on.The group has 68 year experiences in this industry with presence in Singapore, Malaysia, Thailand, Indonesia, Philippines, Vietnam, Australia, South Korea, India and Greater China. The group's customers are Dell, Motorola, Samsung, LG, Exxon Mobil, Unilever, LVMH and Royal FrieslandCampina. The group has invested in Uberisation of logistics, internet of things, 3D printing for on demand production, big data, robotics and fin tech since 2016.About Protrade, Protrade's shares are traded on UPCOM under stock code “PRT”. Protrade has been security alert list on HNX since 10 Apr 2023 because the auditor has given qualified opinion for 3 consecutive years for the annual financial statements. In addition, Protrade received the appellate criminal judgment No 912/2022/HS-PT dated December 28, 2022 of the High People's Court in Hanoi on the case of "violation of regulations on management, use of state property causing loss, waste and embezzlement of property” occurred at Protrade. Therefore, Protrade had to pay legal fees for civil liability and related issues. This will create a potential reputation risk for Protrade and it. Moreover, Protrade agreed to approve the divestment plan in 2022 in the affiliates which Protrade has contributed capital. However, we cannot collect this list. But, according to Government report in Jan 2023, Protrade did not mention about it.