VIETNAM ENGINE AND AGRICULTURAL MACHINERY CORPORATION

With more than 21 years of continuous operation, VIET LIFE TRADING AND SERVICES JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN THƯƠNG MẠI VÀ DỊCH VỤ CUỘC SỐNG VIỆT), or VILITAS., JSC, has carved out a distinct position in Vietnam’s retail and wholesale landscape. Based in Vinh Tuy Industrial Park, Hoang Mai District, Hanoi, the company is recognized for its core business in trading sugar and food products, while actively expanding into garments, sporting goods, and household consumer items.

Despite recent financial headwinds, VILITAS remains operationally robust. In 2023, the company recorded revenue of USD 156.73 million, marking a solid 11.18% growth compared to the previous year. However, this positive topline performance was offset by a steep net loss of USD 2.82 million, a result that may stem from internal restructuring, inflationary cost pressures, or changes in market dynamics. The company’s owner’s equity dropped by over 33%, and total assets declined to USD 22.93 million. Nevertheless, a positive working capital balance indicates that the company retains short-term financial resilience.

At the helm is Ms. Do T. T. H., the company’s General Director, who oversees a lean but effective team of 60 employees. The largest shareholder, Mr. Do T. A., controls a commanding 85.3% of the company, ensuring centralized control and decision-making capacity. Other named shareholders include Bao Day Dai Thang Processing Manufacturing Enterprise and Mr. Nguyen N. T., though their precise stakes remain undisclosed.

The company’s registered business lines reflect an aggressive diversification strategy. Beyond food retail, VILITAS is authorized to engage in the manufacture of building materials, real estate brokerage, freight transport, sporting goods retail, and even beverage wholesale and tobacco distribution. This multi-sectoral approach highlights its ambition to evolve from a traditional trader into a full-fledged consumer-focused conglomerate.

For stakeholders, this complex business model offers both risks and opportunities. Investors, suppliers, and partners seeking to understand the financial health, shareholder structure, and regulatory compliance of companies like VILITAS can benefit significantly from services such as company verification, credit risk analysis, and financial reporting services offered by Vanguard Business Information (VBI). These tools are crucial for making informed business decisions in Vietnam’s rapidly evolving marketplace.

As VILITAS looks toward recovery and repositioning, its long-standing market presence, diversified activities, and strong leadership make it a company worth monitoring. Whether it seeks to streamline operations, attract strategic investors, or focus on high-margin product lines, it stands as an example of a Vietnamese enterprise striving to navigate challenges while maintaining its role in the national distribution network.