ASEAN STEEL JOINT STOCK COMPANY

ASEAN STEEL JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN THÉP ASEAN) is one of the notable private steel producers in Vietnam, with its headquarters located in Hoa Phu Industrial Park, Buon Ma Thuot City, Dak Lak Province. Established on September 30, 2008, the company has more than 17 years of experience in the steel manufacturing industry. With charter capital and paid-up capital of over USD 24.6 million, ASEAN STEEL has gradually developed into a competitive player in the production and trading of construction steel products, serving domestic and regional markets.

A Steel Producer in Vietnam’s Industrial Heartland

ASEAN STEEL operates strategically in Dak Lak, which gives it a logistical advantage for distributing construction steel products such as steel bars and coils to central and southern Vietnam. Beyond its head office, the company also maintains a representative office in Ho Chi Minh City, enhancing its access to Vietnam’s most prominent commercial hub. Its production activities are supported by a workforce of approximately 500 employees, enabling it to maintain a consistent supply capacity to meet the growing demand for steel in the construction sector.

Financial Pulse: A Year of Transition

In 2023, ASEAN STEEL reported total assets of USD 78.12 million, reflecting a slight decrease of 5.5 percent from the previous year. Sales revenue reached USD 109.21 million, down 5.63 percent from 2022. Although these figures indicate a cooling in market demand, the company experienced a remarkable surge in equity—from USD 14.36 million in 2022 to USD 39.37 million in 2023, an increase of more than 174 percent. This growth reflects strong capitalization and structural reinforcement of the company’s financial base.

Profitability also improved significantly, with profit reaching USD 5,918 in 2023 compared to a loss of USD 556,456 the year before. Although modest in absolute value, this positive turnaround demonstrates greater operational discipline and a more stable cost structure. Working capital remained negative at USD -7.4 million, showing the company’s heavy reinvestment in production and operational activities.

Forged by Leadership and Vision

The company is chaired by Ho V. P., with Ho V. N. serving as General Director. This leadership team has steered the company through volatile market cycles, reinforcing its capital structure and maintaining competitiveness. The ownership is concentrated, with Ho V. P. holding more than 60 percent of the shares, followed by other Vietnamese shareholders, including members of the Pham family and Nguyen Q. H. This concentrated shareholding allows for decisive management and long-term strategic planning.

Steel at the Core of Growth

ASEAN STEEL specializes in manufacturing and trading construction steel products, including iron, cast iron, steel bars, and steel coils. The company also engages in wholesale trading of metals and metal ores. Its products serve Vietnam’s rapidly expanding construction and infrastructure sectors, positioning the company at the intersection of industrial growth and national development.

Outlook: Strengthening Foundations

The steel industry in Vietnam is highly competitive, but ASEAN STEEL has maintained its presence for nearly two decades through strategic positioning, reinvestment, and solid ownership. Its recent equity surge and return to profitability point toward a more sustainable growth phase. As infrastructure investment continues to rise across Vietnam, the company stands to benefit from increased steel demand, particularly in urban development and transportation projects.

With a clear leadership structure, a strategically located production base, and a long-standing operational history, ASEAN STEEL is well-positioned to reinforce its market presence and expand its role as a reliable supplier in Vietnam’s steel manufacturing sector.