22/2/2018 – An Phat Holdings, a plastic and packaging producer in Vietnam announced yesterday that it has secured an investment of VND 353 billion (about US$15.6 million) from Korea’s asset management company Valuesystem.
The funding is part of the company’s plans to raise US$200 million to support its growth over the next few years, in order to achieve the ambitious target of achieving US$1 billion revenue by 2025.
Last year, the plastic producer’s revenue reached over VND 4 trillion (about US$176 million), while its profit after tax is VND 264 billion (about US$11.6 million).
In the plan to achieve US$1 billion revenue, An Phat’s General Director Dinh Xuan Cong said the company will use the proceeding to expand its manufacturing capacity and invest in technology improvement.
“An Phat will focus on expansion plans to build new factories, research, and development of hi-tech plastic products, high-quality large-size textile packages for use in the pharmaceutical and food industries, as well as continuing to develop high-quality green products,” explained Dinh Xuan Cong.
Founded in 2003, An Phat Holdings is one of the leading plastic producers in Vietnam, with a monthly finished production output of 8000 tons. This makes it the largest manufacturing and exporting plastic packaging company in Southeast Asia.
An Phat Holdings currently owns 32 percent of An Phat Plastic (AAA) and 25 percent of Vinh Plastic Bag (VBC) and is valued at US$143 million.
On the other hand, Valuesystem is a fund management company with nine years of experience in the Korean market. It developed an online asset management system based on AI technology, known as Aibo Robo advisor.
Commenting on the deal, Jung Hwanjong, the CEO of Valuesystem said, “We do believe this investment will generate good profit, generating more confidence for Korea investors, opening a wide door for Valuesystem to overseas market.”
The investment in An Phat is the first international funding by the US$100 million fund managed by Valuesystem.
This news is published on Reuters.