MASAN INDUSTRIAL ONE MEMBER COMPANY LIMITED

MASAN INDUSTRIAL ONE MEMBER COMPANY LIMITED (Vietnamese: CÔNG TY TNHH MỘT THÀNH VIÊN CÔNG NGHIỆP MASAN) is a privately held enterprise established on June 10, 2002. With over 22 years of operation, the company is legally registered in Binh Duong Province under Business ID and Tax Code 3700424923. The company operates as a one-member limited liability company and is wholly owned by MASAN FOOD COMPANY LIMITED, a Vietnamese entity based in Ho Chi Minh City. Its registered head office is located at Lot 06, Tan Dong Hiep A Industrial Park, Tan Dong Hiep Ward, Di An City, Binh Duong Province. As of the end of 2023, the company employed approximately 1,000 workers.

The core business of MASAN INDUSTRIAL ONE MEMBER COMPANY LIMITED includes the manufacturing of spices, instant foods, and other processed food products such as noodles, macaroni, and sauces. Additionally, it is licensed to engage in a wide range of production and trading activities, including the manufacture of dairy products, animal fats and oils, prepared meals, plastics, chemical products, paper containers, and even industrial machinery. The company also holds licenses for real estate activities and the organization of conventions and trade shows.

From a financial perspective, MASAN INDUSTRIAL ONE MEMBER COMPANY LIMITED recorded total assets of approximately USD 234.53 million at the end of 2023, marking a continued decline of 17.79% from the previous year. This represents the third consecutive year of asset contraction, signaling a possible scale-down or restructuring of physical and financial resources. Despite this, the company's equity position remained unchanged at USD 32.64 million over the same period, suggesting no new capital injections or withdrawals. On the revenue front, the company achieved sales of USD 270.24 million in 2023, a marginal increase of 0.81% year-on-year following a steep drop of 19.05% in 2022. Net profit reached USD 52.2 million, slightly up by 3.32% compared to the prior year, although still below the peak level seen in 2021.

One area of concern is the company’s negative working capital position, reported at approximately USD -77.72 million in 2023. This figure indicates a liquidity risk, as current liabilities may exceed current assets, which can affect short-term financial stability. While profitability has stabilized, the continued decline in asset base and liquidity stress warrants caution, particularly for creditors and business partners involved in supply chains or financing arrangements.

From a management standpoint, the company is chaired by Mr. Pham Hong Son, with Mr. Vu Quoc Tuan serving as General Director. Both are Vietnamese nationals. The company’s strategic direction, despite operational profitability, may require closer scrutiny in light of weakening asset strength and strained liquidity.