TOP SOLVENT (VIETNAM) LIMITED LIABILITY COMPANY

TOP SOLVENT (VIETNAM) LIMITED LIABILITY COMPANY (CÔNG TY TNHH TOP SOLVENT VIỆT NAM)

A Leading Foreign-Invested Chemical Manufacturer

Established on July 29, 2009, TOP SOLVENT (VIETNAM) LIMITED LIABILITY COMPANY is a wholly foreign-invested enterprise (FDI) under Business ID 3602029555, registered with the Dong Nai Department of Planning and Investment. The company’s headquarters and main factory are located in Go Dau Industrial Park, Phuoc Thai Commune, Long Thanh District, Dong Nai Province, with a transaction office in Ho Chi Minh City and an additional production facility in Dinh Vu Industrial Park, Hai Phong City.

The company is 100% owned by TOPNEXT INTERNATIONAL COMPANY LIMITED (Thailand) — a subsidiary of the ThaiOil Group, one of Southeast Asia’s largest petrochemical corporations. With over 16 years of operation and 80 employees, TOP SOLVENT VIETNAM manufactures and trades a wide range of solvents, refined petroleum products, and industrial chemicals. Its products serve multiple sectors, including coatings, plastics, rubber, and adhesives, positioning it as one of Vietnam’s leading industrial chemical suppliers.

Financial Performance: Resilient Growth Amid Market Volatility

In the fiscal year ending December 31, 2023, TOP SOLVENT VIETNAM reported total assets of USD 54.66 million, a 5.42% decrease compared to 2022, while equity increased slightly by 2.14% to USD 12.86 million. Sales revenue declined 19.87% to USD 106.01 million, reflecting global demand slowdown and lower chemical prices. Nevertheless, net profit jumped 192.26% year-on-year, reaching USD 269,467, indicating significant cost efficiency and better margin control after a challenging 2022. Working capital stood at USD 4.9 million, showing improved short-term liquidity and effective financial management.

While revenue contraction signals cyclical pressures, the company’s ability to maintain profitability highlights prudent operational control and strategic alignment with its parent company’s regional distribution network.

Leadership and Ownership Structure

The management team is led by General Director Mr. Nguyen A. H., supported by Deputy General Director Ms. Kornthip W. (Thai) and Financial Director Ms. Nguyen T. P. T.. This cross-border leadership structure strengthens its integration with the Thai parent company while ensuring compliance with Vietnam’s local regulatory environment.

VNBIS Perspective: Financial Discipline and Credit Stability

According to VNBIS, TOP SOLVENT (VIETNAM) demonstrates financial stability, moderate credit risk, and operational resilience within a highly volatile sector. Despite declining sales, the company’s growing equity base, positive profit trend, and strong capital backing from its Thai parent reflect a disciplined financial framework.

Through its Company Report and Financial Risk Management Services, VNBIS helps investors and business partners assess creditworthiness, liquidity health, and long-term sustainability of enterprises like TOP SOLVENT (VIETNAM) — providing deep insights into performance trends within Vietnam’s dynamic chemical manufacturing and trading industry.