SOUTHERN STEEL SHEET CO., LTD

SOUTHERN STEEL SHEET CO., LTD (Vietnamese: CÔNG TY TÔN PHƯƠNG NAM) is a limited liability company with foreign direct investment (FDI), operating under Business ID and Tax Code 3600236891. The company was registered on June 9, 1995, and currently operates out of Road No. 3, Nhon Trach II - Nhon Phu Industrial Park, Phu Hoi Commune, Nhon Trach District, Dong Nai Province, Vietnam, while its official registration address is at Road No. 9, Bien Hoa I Industrial Park, An Binh Ward, Bien Hoa City, Dong Nai. With more than 29 years in operation, this company is recognized in Vietnam’s steel sheet manufacturing sector under the trade name SSSC.

The company specializes in the manufacture of iron, steel, structural metal products, and other fabricated metal products, with a workforce of approximately 350 employees. Its leadership includes General Director Mr. Loh Meng Kiat (Singaporean), Deputy General Director Mr. Le Viet (Vietnamese), and Mr. Keijiro Yamamoto (Japanese), reflecting a diverse international management structure.

As of December 31, 2023, SOUTHERN STEEL SHEET CO., LTD recorded total assets of USD 140.39 million, up 1.97% from 2022. Although modest, this asset growth signals a slow but positive trajectory in terms of capital deployment. Owner’s equity improved to USD 42.08 million, a 5.47% year-over-year increase, following a substantial drop in the previous period. These improvements suggest renewed financial discipline and more conservative expansion strategies after a sharp equity contraction between 2021 and 2022.

In terms of operational scale, the company achieved revenue of USD 229.07 million in 2023, reflecting a 5.83% increase over the previous year. Most notably, net profit rebounded to USD 2.18 million, up 123.32%, following a significant loss of USD 9.36 million in 2022. This strong profit turnaround, though still relatively small in scale, may reflect stabilized raw material costs, improved pricing power, or better production efficiency. However, it is worth noting that the company had already experienced profit erosion between 2021 and 2022, and the current level remains far from the stability one might expect in a capital-intensive industry like steel.

The company’s charter capital and paid-up capital are both listed at USD 39.57 million, indicating that investors have fulfilled their committed contributions. Shareholding is distributed among multiple major players, with VIETNAM STEEL CORPORATION holding the most significant stake at 45%, followed by SUMITOMO CORPORATION (Japan) and its affiliate GLOBAL METALS CO., LTD with a combined stake exceeding 33%, and the rest held by Singaporean investors, including YEW LIAN PROPERTY AND INVESTMENTS PTE LTD and LCG HOLDINGS PTE LTD. This diversified foreign and domestic ownership model provides strategic backing, but it may also introduce complex governance dynamics in decision-making and capital direction.

While SOUTHERN STEEL SHEET CO., LTD is active and profitable, the narrow net margins and past losses suggest that partners, suppliers, and creditors should remain cautious. The firm’s profitability is still recovering, and its long-term sustainability will depend on external market demand, raw material volatility, and internal cost control.

For those looking to conduct deeper due diligence, especially in transactions involving extended credit, large volume supply contracts, or equity partnership, it is highly advisable to verify the financial and legal standing of SOUTHERN STEEL SHEET CO., LTD. VANGUARD BUSINESS INFORMATION LLC (VBI) offers a comprehensive range of services, including financial risk assessments, business verification, and litigation search, to support partners in making informed decisions.