Africa Vegetable, Fruit And Agricultural Product Company Limited (Vietnam)

Established at the end of 2018, SC was initially known as a member of VIETNAM NATIONAL VEGETABLE, FRUIT AND AGRICULTURAL PRODUCT CORPORATION - JOINT STOCK COMPANY, a large company in the field of importing and exporting vegetable, fruit, and agricultural products in Vietnam. However, since the end of 2020, the subject's shares have been transferred to two individuals. Currently, the subject's capital is contributed by Ms. TRAN THI HUAN, Mr. NGUYEN VIET OANH, and the General Director. We had a discussion with the General Director and learned that all the subject's transactions are performed on the 4th Floor, No. 19, Ba Trieu Street, Trang Tien Ward, Hoan Kiem District, Ha Noi City, Vietnam. The majority of assets were trade debts that occupied over 67% of assets and climbed through the years. It showed an easy credit policy for customers. It also led to longer Days of sales outstanding (DSO) (days). The subject's operation was mainly funded by trade creditors, which not only increased from year to year but also occupied the highest rate in liabilities. It showed that the subject had taken advantage of interest-free-way by borrowing from its suppliers to fund its operations. SC and its suppliers have a good relationship together. The revenue peaked in 2022 with VND 11,555 billion, up 46% compared to 2021. However, the net income was very humble compared to the value of sales because the most rate of sales were spent on COGS. Therefore, to enlarge profit, the costs need to be monitored more strictly in the coming time.