TAY NAM STEEL MANUFACTURING & TRADING CO., LTD

TAY NAM STEEL MANUFACTURING & TRADING CO., LTD (CÔNG TY TNHH SX & TM THÉP TÂY NAM) has shown sharp growth in both assets and revenue in 2023 but remains financially vulnerable due to thin margins and low liquidity. Registered under Business ID 1101815829 in Long An Province, the company operates under the brand TANACOM and is led by Mr. Nguyen Minh Phuc, who holds nearly 68% of the shares and also serves as Chairman cum General Director.

The company posted total sales of nearly USD 296.89 million in 2023—a 27.74% increase from the previous year. Total assets also jumped by 29.34% to USD 220.4 million. However, working capital dropped significantly to only USD 1.83 million, and profit, while rebounding from 2022’s low point, reached just USD 706,790—less than 0.25% of total sales. This reflects razor-thin profit margins and raises questions about cost structure or pricing power in a competitive steel market.

With paid-up capital still trailing behind its registered charter capital, and shareholder concentration tightly held within a few individuals and a related company, TAY NAM STEEL MANUFACTURING & TRADING CO., LTD operates with limited external accountability. For suppliers, banks, and investors, this combination of rapid growth and slim liquidity warrants careful scrutiny.

Business verification services—like those offered by VANGUARD BUSINESS INFORMATION LLC (VBI)—are essential to uncover whether the company’s growth is backed by sustainable operations or driven by short-term debt or concentrated risk. In steel manufacturing, where operational cycles are capital-intensive and highly sensitive to market swings, such transparency can be the difference between a dependable partner and a financial risk.