FORMOSA TAFFETA DONG NAI COMPANY LIMITED

FORMOSA TAFFETA DONG NAI COMPANY LIMITED, operating under business ID 3600679607, is one of Vietnam’s largest foreign-invested textile producers. Established in 2004 and legally registered as a one-member limited liability company, the firm is wholly owned by Formosa Taffeta Co., Ltd. of Taiwan. Its main manufacturing complex is located in the Nhon Trach III Industrial Park of Dong Nai Province, with additional commercial offices in Ho Chi Minh City. The company employs roughly 1,000 workers, making it a significant player in Vietnam’s industrial textile sector.

The company specializes in weaving and producing chemical-fiber fabrics for high-performance applications, including heat-resistant materials, reinforced fabrics, and tire cords. This specialization connects Formosa Taffeta Dong Nai to both the garment value chain and heavy industry supply chains. Chairman Lee M. C. leads strategic oversight, while daily operations are managed by Director Fan H. Y., both of whom are of Taiwanese nationality.

Financial data from the report shows that the company entered a challenging period in 2023. Total assets declined to USD 165.55 million, an eleven-percent decrease from the prior year. Sales dropped sharply to USD 91.34 million, a thirty-four percent reduction, reflecting weaker global demand for industrial textiles and possibly disruptions in export markets. Profitability deteriorated considerably, with the company recording a net loss of USD 5.09 million, compared to positive earnings in previous years. This decline is also highlighted in the profit growth chart on page one, which shows a dramatic swing of more than 1,000% year-on-year.

Equity remained relatively solid at USD 86.66 million, though it decreased by more than 5%. Working capital stood at USD -7.01 million, placing pressure on short-term liquidity and signaling the need for tighter financial management. Despite these challenges, Formosa Taffeta Dong Nai maintains a strong operational foundation through its long-term investment profile and the support of its parent company in Taiwan.

As global textile markets continue to shift, Formosa Taffeta’s performance will depend on recovery in export demand, improvements in production efficiency, and strategic repositioning within the chemical-fiber segment. With over 20 years of operations in Vietnam, the company remains a major FDI manufacturer with significant industrial capacity and supply chain influence.

For complete financial statements, credit insights, and risk indicators, the full report is available at VNBIS.COM.