PHUNHUAN SERVICE JOINT STOCK COMPANY

Phunhuan Service Joint Stock Company, known commercially as MASECO, is a Vietnamese enterprise specializing in the production and trading of consumer electronics, with a long established presence in the national electronics and audio equipment market. Founded in 2001, the company has expanded from its core strength in electronic product manufacturing into agricultural exports and selective real estate investment. Supported by 147 employees, MASECO manages a multi sector operational footprint anchored in Ho Chi Minh City and complemented by branches in Gia Lai, Da Nang, and additional locations in Phu Nhuan District.

The company’s product offerings include audio and karaoke equipment, electronic devices, and related components. Alongside these, it participates in agricultural commodity trading, particularly coffee and pepper, drawing on long standing commercial networks in the Central Highlands. A particularly interesting characteristic of MASECO is its dual positioning in both electronics manufacturing and agricultural export activities, a combination that gives it diversified revenue channels uncommon among publicly listed Vietnamese electronics firms.

Leadership and Shareholders

The company is chaired by Nguyen T. M., who oversees corporate governance, strategic direction, and alignment across its electronics, agricultural trading, and service lines. Supporting her is Do H. D., Deputy Chairman and Deputy General Director, who manages operational coordination and business development. Day to day execution is led by Trinh N. M., General Director, who directs production, commercial strategy, and cross branch operations.

Ownership is dispersed across domestic and foreign investors.
Foreign shareholders include East Wisdom Limited of Hong Kong with 8 percent and Future United Ltd of Hong Kong with 5.33 percent. The remaining 86.67 percent is held by Vietnamese shareholders, including senior management members Do H. D. and Le T. H., along with more than 160 other minority investors.

Financial Growth and Market Risks

In 2023, MASECO recorded USD 77.29 million in revenue. While assets and equity grew, profit declined sharply compared to the prior year, reflecting margin pressure in both electronics and agricultural segments. Working capital decreased, signaling tighter liquidity management requirements. The company remains exposed to risks associated with electronic component cost fluctuations, competition from imported products, and price volatility in agricultural commodities.

Market diversification provides stability but also increases operational complexity. Investors requiring a deeper understanding of solvency, liquidity trends, and long term credit behavior can access complete insights through the VNBIS Company Comprehensive Report.

Business Intelligence and Risk Outlook

Vietnam’s consumer electronics market continues to evolve as demand shifts toward premium audio equipment, modern entertainment devices, and integrated digital systems. MASECO’s long term presence positions it to compete in niche audio and specialty electronics segments, although sustained competitiveness will demand investment in technology, branding, and product differentiation.

Agricultural export operations provide counterbalance during periods of electronics market weakness, but also expose the business to international commodity cycles and logistics constraints. Short term performance will depend on price stability, input costs, and retail consumption patterns, while long term prospects will hinge on strengthened financial capacity and operational consolidation.

VNBIS Support and Business Services

Vanguard Business Information LLC (VNBIS) provides a comprehensive suite of business intelligence solutions to support investors, partners, and financial institutions evaluating Phunhuan Service Joint Stock Company.

VNBIS services include:

• Company Credit Reports assessing solvency, liquidity, and financial health
• Risk Management Solutions analyzing exposure to electronics market cycles, agricultural trading risks, and operational dependencies
• Business Verification and Due Diligence Reports confirming ownership structure, compliance status, and governance records

For clients requiring up to date financial statements, verified corporate information, and fresh investigative insights, the VNBIS Company Comprehensive Report delivers the most complete and authoritative assessment available. VNBIS supports transparent, secure, and data driven business decisions.