PHAN MINH INVESTMENT PRODUCTION TRADING SERVICES COMPANY LIMITED: Navigating Challenges in Vietnam’s Plastics and Packaging Industry

PHAN MINH INVESTMENT PRODUCTION TRADING SERVICES COMPANY LIMITED (CÔNG TY TNHH ĐẦU TƯ SẢN XUẤT THƯƠNG MẠI DỊCH VỤ PHAN MINH) is a privately held limited liability company headquartered in Ho Chi Minh City, Vietnam. With a history of over 21 years since its establishment on May 25, 2004, the company has positioned itself as a reputable manufacturer in the plastics and rice packaging sectors. Operating under business ID and tax code 0303283290, PHAN MINH INVESTMENT PRODUCTION TRADING SERVICES COMPANY LIMITED maintains its main office at No. 300, Khuong Viet Street, Phu Trung Ward, Tan Phu District, Ho Chi Minh City.

Legal Status and Ownership

PHAN MINH INVESTMENT PRODUCTION TRADING SERVICES COMPANY LIMITED is fully registered with the Ho Chi Minh City Department of Planning and Investment. The company has a charter capital of approximately USD 18.49 million, fully paid as of the end of 2023. It is majority-owned (90%) by Mr. PHAN HUNG MINH, who also serves as the Director, while the remaining 10% is held by Deputy Director Mr. PHAN HUNG SANH. This tightly held ownership structure suggests strong family control and decision-making cohesion.

Executive Management

At the top of the organizational structure is Mr. PHAN HUNG MINH, the Director, supported by Deputy Director Mr. PHAN HUNG SANH and Chief Accountant Mr. PHAN CHI HIEN. This leadership team has overseen the company’s growth over two decades, managing both expansion into new sectors and navigating the recent headwinds in profitability and market demand.

Business Operations

PHAN MINH INVESTMENT PRODUCTION TRADING SERVICES COMPANY LIMITED operates in a diversified range of sectors. Its core business involves the manufacture of plastic-based packaging products made from BOPP, PP, PE, and PA materials. The company also engages in rice production, including long-grain white rice, fragrant rice, and glutinous rice. With factories in Long An and An Giang provinces, the company serves both industrial and consumer markets.

Registered activities go beyond manufacturing and agriculture and include real estate construction, wholesale and retail of vehicles and parts, metal and construction material trading, freight transport, and inland waterway logistics. Such breadth of registered business activities reflects strategic diversification, likely designed to mitigate sector-specific risks.

Financial Performance

As of the fiscal year ending December 31, 2023, PHAN MINH INVESTMENT PRODUCTION TRADING SERVICES COMPANY LIMITED reported total assets of USD 89.85 million, a marginal increase of 0.94% year-over-year. However, sales dropped for the second consecutive year, falling by 5.2% to USD 217.16 million in 2023, down from USD 229.07 million in 2022. Most notably, the company recorded zero profit in 2023—after declining profits in the prior two years—signaling operational challenges or rising costs that squeezed margins. Despite the flat equity growth of 0.2% and a positive working capital of USD 12.19 million, the profit collapse may warrant scrutiny for investors or partners.

The net worth remains relatively stable at USD 21.46 million, and the company continues to employ approximately 350 workers, ensuring it retains its production capacity and workforce despite the profit downturn.

Strategic Assessment

PHAN MINH INVESTMENT PRODUCTION TRADING SERVICES COMPANY LIMITED continues to maintain a strong asset base and diversified operations, yet recent financial trends suggest a need for strategic rebalancing. The flat growth in equity and fall to zero profitability in 2023 could be attributed to a combination of market contraction, input cost volatility, or rising operational expenditures.

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