DAESANG VIET NAM COMPANY LIMITED

DAESANG VIET NAM COMPANY LIMITED, a foreign direct investment enterprise with over 15 years of presence in Vietnam, represents a strategic extension of the South Korean Daesang Corporation. The company has developed an extensive production and distribution network nationwide, operating from its central facility in Phu Tho Province, with branches in Tay Ninh, Ho Chi Minh City, and a transaction office in Hanoi.

At its core, Daesang Viet Nam manufactures a range of staple food products, including monosodium glutamate (MSG), super seasoning, fish sauce, tapioca starch, and tapioca syrup. Under brands such as Miwon, these products are well-established in Vietnamese kitchens, both in households and the food processing industry. The company is not limited to manufacturing; it is also licensed for market research, management consultancy, and experimental R&D, showing signs of broader ambition in food innovation and market intelligence.

In 2024, Daesang Viet Nam recorded USD 118.05 million in revenue, showing a 7.1% increase over the previous year. This came after a contraction in 2023, indicating a relatively strong rebound. Notably, profit more than doubled to USD 1.9 million, marking a 108.85% surge compared to 2023. However, while the turnaround is promising, the profit margin remains modest — below 2% of revenue — which could signal tight operating costs or pricing pressures in a competitive market.

Its asset base rose to USD 92.06 million, and equity reached USD 43.7 million, reflecting continued shareholder confidence and reinvestment. Working capital is healthy at approximately USD 33 million, giving the company strong liquidity to navigate market fluctuations. The paid-up capital has remained steady, with South Korea’s Daesang Corporation holding a dominant 93.11% stake, and a minority stake held by an Indonesian investor.

From a risk and credit perspective, Daesang Viet Nam shows signs of disciplined financial management and operational maturity. Still, it operates in a highly commoditized and competitive industry, where brand trust and distribution reach are key to success. It has recovered from a downturn in 2023. Still, its growth path in the coming years will likely depend on its ability to expand higher-margin products, maintain raw material efficiency, and strengthen retail penetration amidst evolving consumer preferences.

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