THUAN MINH IMPORT EXPORT CORPORATION

THUAN MINH IMPORT EXPORT CORPORATION (CÔNG TY CỔ PHẦN XUẤT NHẬP KHẨU THUẬN MINH) is a steadily expanding, privately held joint-stock company based in Ho Chi Minh City, Vietnam. Founded on March 4, 2010, and registered under Business ID and Tax Code 0309828977, the company has over 15 years of active operation, becoming a recognized name in Vietnam’s rice export and agricultural wholesale industry. It operates under the brand name Nang Hoa Rice, a product well-known in both domestic and international markets.

The company is headquartered at No. 76 Tran Minh Quyen Street, Ward 11, District 10, Ho Chi Minh City, and maintains a secondary presence through its branch office in Long An Province, an important agricultural production region. With a lean team of 25 employees, THUAN MINH has managed to deliver significant financial growth, illustrating operational efficiency and effective market reach.

Financial Growth and Stability

THUAN MINH’s financial performance in 2023 highlights its strong upward trajectory. The company recorded total sales of USD 182.89 million, representing a 30.32% increase year-over-year, driven largely by increased rice trade volume and pricing. Profit rose by 47.92% to USD 734,456, while total assets reached USD 60.95 million, marking a robust 53.58% expansion compared to the previous year. Owner’s equity increased by 55.01%, standing at USD 12.49 million, indicating strong capital reinforcement and retained earnings.

Perhaps most notably, working capital surged by 173.49%, reaching USD 7.83 million, improving the company's liquidity position and ability to finance operational growth without relying heavily on short-term debt.

These figures reflect not only effective operational strategies but also strong demand in the global rice market, in which Vietnam remains a leading exporter. THUAN MINH’s performance suggests it is well-positioned to capitalize on both traditional markets and emerging demand across Asia, the Middle East, and Africa.

Shareholding and Leadership

The company is predominantly owned by Mr. La Van Tot, who holds a 92% ownership stake and also serves as Director. General Director Mr. Huynh Bao Trong oversees day-to-day operations alongside Chief Accountant Mr. Nguyen Van Doan, who is also a 2% shareholder. The remaining shares are distributed among three other minor shareholders.

This concentrated ownership structure enables quick strategic decisions but also calls for strong internal controls and governance to manage business continuity, especially as the company scales further.

Business Activities and Diversification

While its core focus is the wholesale of rice and cereals, THUAN MINH is registered to operate in an impressively wide range of sectors, including:

• Marine aquaculture and seafood processing

• Manufacture of dairy and grain products

• Wholesale of food, agricultural raw materials, household goods, motor vehicles, and machinery

• Metal processing and fabrication

This diversified license portfolio indicates the company’s long-term vision to expand beyond rice trading into value-added processing and possibly vertical integration within the food supply chain. However, actual operations remain concentrated in rice exports—a sector with steady demand but also vulnerable to price fluctuations, logistics disruptions, and regulatory controls.

Outlook

THUAN MINH IMPORT EXPORT CORPORATION demonstrates a resilient and well-managed growth path with rising sales, consistent profitability, and improving financial fundamentals. The company’s performance in 2023 confirms its ability to scale within Vietnam’s dynamic agricultural trade environment, even amid global shifts in commodity prices.

While still privately held and modest in team size, THUAN MINH stands out for its disciplined financial growth and operational leverage. To maintain momentum, the company may need to invest in processing, branding, and market diversification, particularly to reduce dependency on raw commodity sales and enhance value capture.

In Vietnam’s competitive rice and agri-export landscape, THUAN MINH represents a promising case of sustained performance built on product focus, financial prudence, and responsive leadership.