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MASAN MB ONE MEMBER COMPANY LIMITED

Active

Business ID 2901738808

+84 901 422 767

MASAN MB ONE MEMBER COMPANY LIMITED

Active

Business ID 2901738808

+84 901 422 767

MASAN MB ONE MEMBER COMPANY LIMITED

Active

Summary

Name:

MASAN MB ONE MEMBER COMPANY LIMITED

Business ID (TIN):

2901738808

Date of Registration:

20 Oct 2014

Registered Office:

Nghe An Province Department of Finance

Address:

Area B, Nam Cam Industrial Park - Southeast Nghe An Economic Zone, Nghe An Province, Vietnam

Phone:

+84 901 422 767

Financial Statement:

2020, 2021, 2022, 2023, 2024

MASAN MB ONE MEMBER COMPANY LIMITED: Profit Soars While Liquidity Plummets — A Textbook Case for High-Risk Alert

MASAN MB ONE MEMBER COMPANY LIMITED (Vietnamese name: CÔNG TY TNHH MỘT THÀNH VIÊN MASAN MB) is a wholly owned subsidiary of MASAN FOOD COMPANY LIMITED, headquartered in Nam Cam Industrial Park, Nghe An Province. Registered under Tax Code (TIN): 2901738808, the company manufactures and packages staple food items, including instant noodles, rice noodles, sauces, and energy drinks. It operates with a workforce of 550 employees and has been active for more than a decade since its registration on October 20, 2014.

From a financial standpoint, MASAN MB presents a conflicting picture. On one hand, the company posted USD 240.16 million in revenue in 2023, a 10.7% increase year-over-year, and recorded an impressive USD 92.92 million in net profit, up 32.68% from the previous year. These numbers place it among the most profitable food processing units in the country in terms of return on sales.

However, from a risk management perspective, several deep concerns must be flagged. Most critically, the company's total assets dropped 21.32% in 2023, continuing a multi-year decline. Worse still, its working capital has collapsed to negative USD 70.3 million, marking a 547.98% deterioration compared to 2022. This is not just a warning signal — it is a flashing red light.

Such a severe liquidity crisis means MASAN MB may be operating with an over-reliance on short-term liabilities, potentially delaying payables or drawing down reserves at unsustainable rates. Despite the strong profitability, this imbalance implies a serious cash flow risk, particularly in the event of supply chain disruptions, input cost shocks, or delayed collections from distribution channels.

Adding to the concern is the stagnant equity position. Owner’s equity has remained unchanged for three years at USD 25.47 million, suggesting that all profits are either fully distributed or not being reinvested to stabilize the balance sheet. This increases reliance on external credit and erodes internal financial buffers.

Given that the company is part of the MASAN Group ecosystem, it likely benefits from centralized procurement and distribution. But this affiliation alone does not immunize it from insolvency risks if internal cash flow management and asset health continue to deteriorate.

Risk Advisory Summary:

Liquidity Risk: Very High — negative working capital is unsustainable in the long term.
Solvency Risk: Moderate — fixed equity base and falling assets despite high profits could constrain future borrowing capacity.
Operational Risk: Low — core business is profitable and growing, but dependent on tight financial management.
Strategic Risk: Moderate — no visible reinvestment may limit resilience and growth flexibility.

Recommendation: Immediate attention is required to improve liquidity, whether through retained earnings, capital injection, or restructuring of short-term liabilities. Stakeholders, including suppliers, financial institutions, and business partners, should demand enhanced transparency into cash flow statements and credit terms. Until working capital is stabilized, MASAN MB should be treated as a high-revenue, high-risk partner.

For custom risk reports, financial modeling, or supplier credit scoring, consult VANGUARD BUSINESS INFORMATION LLC (VBI)—Vietnam’s premier source for corporate due diligence and risk intelligence.

Legal Profile

English Name:

MASAN MB ONE MEMBER COMPANY LIMITED

Vietnamese Name:

CÔNG TY TNHH MỘT THÀNH VIÊN MASAN MB

Short Name:

MASAN MB CO.LTD

Business ID (TIN):

2901738808

Date of Registration:

20 Oct 2014

Registered Office:

Nghe An Province Department of Finance

Ownership Status:

Privately held

Operation Status:

Active

Contacts

Key Decision Makers:

+ PHAM H.S

+ TRAN M.C

+ HOANG Q.D

+ MAI N.H

Address:

Area B, Nam Cam Industrial Park - Southeast Nghe An Economic Zone, Nghe An Province, Vietnam

Phone:

+84 901 422 767

Business Sector

Key business lines:

VSIC:

1074 Manufacture of macaroni, noodles and similar farinaceous products

NACE:

10.73 Manufacture of macaroni, noodles, couscous and similar farinaceous products

Industry Sales Growth

CAGR (2019 - 2023)

3.46%

YoY (2023)

13.82%

Companies by industry

Company distribution and propportions

405

0.0139%

Key Industry Players

Top 10 companies in manufacture of macaroni, noodles and similar farinaceous products industry

masan industrial one member company limited asia foods corporation acecook vietnam joint stock company uniben joint stock company masan hd one member company limited masan mb one member company limited masan hg one member company limited asia food iii sole member co., ltd paldo vina co., ltd lc foods joint stock company

Payment History

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Financial Performance

Assets	-89.27%
Owner’s Equity	-22.15%
Working Capital	17.08%
Net Worth	-2.63%
Sales	2.07%
Operating income	98.41%
EBIT	63.00%
Gross Profit Margin	1.43%
Debt to EBITDA	18.22%

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Opinion from Analysts

Specific Questions About MASAN MB ONE MEMBER COMPANY LIMITED

When did MASAN MB ONE MEMBER COMPANY LIMITED start operating?

MASAN MB ONE MEMBER COMPANY LIMITED was started in 20 Oct 2014

What industry does MASAN MB ONE MEMBER COMPANY LIMITED operate in?

MASAN MB ONE MEMBER COMPANY LIMITED is operating in "Manufacture of macaroni, noodles and similar farinaceous products" industry

How can I contact MASAN MB ONE MEMBER COMPANY LIMITED?

MASAN MB ONE MEMBER COMPANY LIMITED phone numbers is +84 901 422 767

What adverse news is there about MASAN MB ONE MEMBER COMPANY LIMITED?

MASAN MB ONE MEMBER COMPANY LIMITED’s has no negative news

What is stock symbol of MASAN MB ONE MEMBER COMPANY LIMITED?

MASAN MB ONE MEMBER COMPANY LIMITED is not listed company

Where is the location of MASAN MB ONE MEMBER COMPANY LIMITED?

MASAN MB ONE MEMBER COMPANY LIMITED is located at Area B, Nam Cam Industrial Park - Southeast Nghe An Economic Zone, Nghe An Province, Vietnam

What is MASAN MB ONE MEMBER COMPANY LIMITED’s business registration?

MASAN MB ONE MEMBER COMPANY LIMITED business registration is 2901738808

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MASAN MB ONE MEMBER COMPANY LIMITED

MASAN MB ONE MEMBER COMPANY LIMITED

MASAN MB ONE MEMBER COMPANY LIMITED

MASAN MB ONE MEMBER COMPANY LIMITED: Profit Soars While Liquidity Plummets — A Textbook Case for High-Risk Alert

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MASAN MB ONE MEMBER COMPANY LIMITED

MASAN MB ONE MEMBER COMPANY LIMITED

MASAN MB ONE MEMBER COMPANY LIMITED

MASAN MB ONE MEMBER COMPANY LIMITED: Profit Soars While Liquidity Plummets — A Textbook Case for High-Risk Alert

Risk Advisory Summary:

Company Profile Report

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