Recent moves have caused many investors to question An Phat Holdings’ ability to be a bright name to buy Hanoi Plastics – one of the enterprises producing plastic components and auto parts large motorcycles in Vietnam.
On November 22, Cadivi Dong Nai Limited Company suddenly announced to sell all 3,370,700 shares of NHH, equivalent to 51.86% of the charter capital of Hanoi Plastics JSC. The transaction is expected to be carried out from November 23 to December 21, 2018 by agreement and matching method.
This move takes place right before the Extraordinary General Assembly of Hanoi Plastics will be held on November 25, with the main content being to dismiss and elect additional members of the Board of Directors and Supervisory Board of the company.
Another notable information is that on November 12, An Phat Holdings (APH) – the parent company of An Phat Plastic and Green Environment Joint Stock Company (AAA), suddenly signed a memorandum of understanding (MoU) about cooperation with Gelex, parent company of Cadivi Dong Nai. The Memorandum of Understanding (MoU) marked the cooperation in providing materials, semi-finished products, sharing distribution channels, sharing the implementation of potential investment opportunities, promoting joint development of products. Environmental friendly and supporting industries of Vietnam between APH and GELEX.
These moves led many investors to think about the possibility of An Phat Holdings and member companies that could be bright candidates to buy Hanoi Plastics.
Hanoi Plastics is currently one of the companies producing plastic products of supporting industries such as Automotive Parts and Motorcycles granted to Toyota Vietnam, Honda Vietnam, Piaggio Vietnam, VMEP; Electric and electronic components, built for Panasonic, KORG Vietnam supplies plastic boxes and industrial pallets to domestic industrial industries; Manufacturing molds for plastic industry … Hanoi Plastic has also signed a number of contracts to supply motorcycle parts for VinFast.
This is a potential business field and will help increase the value chain of plastic products built by An Phat Holdings if the company acquires Hanoi Plastic. According to a reliable source, Mr. Bui Minh Hai, former Deputy General Director of AAA, is currently the Director of APH’s Planning and Restructuring Board and Mr. Man Chi Trung, Deputy Director of An Trung (member unit) of APH) are 2 candidates who will be candidates for the Board of Hanoi Plastic at the upcoming congress.