THIET LAP CO., LTD

THIET LAP CO., LTD (CÔNG TY TRÁCH NHIỆM HỮU HẠN THIẾT LẬP) is a dynamic Vietnamese private company operating in the food manufacturing sector, with a particular focus on flour milling and related agro-processing activities. Established in May 2005 and headquartered in Lot A3, Hòa Phú Industrial Park, Vĩnh Long Province, the company has more than two decades of experience in agricultural value chains. As of 2023, it employed 125 workers and maintained full legal and financial compliance under Business ID and Tax Code 1500441413.

Legally structured as a limited liability company, THIET LAP CO., LTD has a charter and paid-up capital of approximately USD 6.16 million. The company is majority-owned by Ms. Đỗ Ngọc Thanh, who serves as Chairwoman and holds 68% of the ownership. The remaining 32% is held by Ms. Hoàng Thị Minh Hiếu. The company’s executive management includes Mr. Vương Gia Tuệ as Director and Ms. Trần Ngọc Hiền as Chief Accountant.

From a financial standpoint, 2023 was a year of impressive top-line growth, but profitability weakened. The company’s total revenue rose significantly to USD 176.89 million, up 62.2% from the previous year. Total assets also surged by 83.19%, reaching USD 42.89 million, indicating large-scale investments or expanded operations. Owner’s equity climbed modestly to USD 8.28 million, an 11.45% year-over-year increase.

However, despite these positive indicators, net profit dropped sharply by 57.08% to USD 1.37 million, suggesting margin compression. This decline in profitability, amid robust sales growth, may be attributed to rising input costs, lower pricing power, or increased operational expenses. The company still posted a positive working capital of USD 4.05 million, indicating sound short-term liquidity, which is essential for sustaining daily operations.

THIET LAP CO., LTD is active across a wide range of food and agricultural processing lines, including starches, noodles, animal feed, frozen seafood, meat, and fruit products. It also has registered activities in logistics, warehousing, inland freight transport, and agricultural cultivation. This diverse business model provides both revenue security and market resilience, particularly in Vietnam’s rapidly evolving agro-industry.

In conclusion, THIET LAP CO., LTD presents the profile of a fast-growing, well-established enterprise with a solid asset base and strong market reach. The company’s main challenge in the near term lies in restoring profitability to match its expanded scale, through tighter cost control and efficiency improvements. With its strategic positioning in Vietnam’s Mekong Delta—a region crucial to the country’s food supply chain—the company is well-positioned to capitalize on future growth opportunities in both domestic and export markets.