MINH DUC CONCRETE & CONSTRUCTION COMPANY LIMITED

MINH DUC CONCRETE & CONSTRUCTION COMPANY LIMITED (CÔNG TY TNHH BÊ TÔNG VÀ XÂY DỰNG MINH ĐỨC)

MINH DUC CONCRETE & CONSTRUCTION COMPANY LIMITED is a long-established player in the concrete manufacturing and foundation-construction sector, operating from Hai Phong with more than 20 years of experience in supplying pre-stressed concrete products and specialized construction services. Its broad operating footprint, including offices in Hanoi and Ho Chi Minh City, positions the company as a familiar name in northern infrastructure development.

Corporate Structure and Legal Standing

The company operates as a privately held limited liability entity under Business ID 0200611969, first registered in 2004. Its head office at Minh Duc Ward, Thuy Nguyen City, underscores its deep local roots in Hai Phong’s construction ecosystem. With nearly 900 employees, MINH DUC demonstrates the scale and workforce of a mature concrete manufacturer, with diversified registered activities that extend well beyond its core business.

Key Personnel and Leadership

Leadership is concentrated around Vu T. T., who serves as Director and holds the majority ownership stake. Supporting roles are held by Nguyen D. T. and Pham T. V. H., indicating a closely managed corporate structure. This concentration of ownership (80 percent held by the Director) suggests strong internal control, but also raises governance questions about succession, risk dispersion, and decision-making bottlenecks — especially relevant for contractors and financiers assessing long-term obligations.

Financial Signals That Deserve Attention

While MINH DUC reports sizeable total assets of USD 89.35 million and annual revenue of USD 95 million in 2023, the financial trajectory shows clear pressure. Sales dropped more than 22 percent, and profit fell nearly 30 percent year-on-year. Assets also contracted by almost 15 percent, reversing the substantial expansion seen in 2022. These indicators point to tightening margins and possible demand slowdowns in key construction segments. For risk managers and lenders, the company’s thin 2023 profitability underscores the need for updated financials, especially in a sector susceptible to steel prices, interest rates, and project payment delays.

A Company Worth Monitoring Closely

MINH DUC CONCRETE & CONSTRUCTION COMPANY LIMITED remains an essential supplier in the northern construction market, but the recent decline in performance raises valid concerns. Stakeholders — from contractors to credit institutions — should review the full VNBIS comprehensive report for the most up-to-date financial data, 2024 updates, ownership verification, litigation checks, and risk-scoring assessments before extending credit or entering long-term construction partnerships.

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