Iscvina Manufacturing Company Limited (Vietnam)

Founded in Oct 2017 as a South Korean invested firm, the subject is now engaged in processing POGO and POGO PIN (part of semiconductor test equipment). According to Ms. Nguyen Thi Hong Hanh - an accountant, over 95% of the output products are exported ISC CO.,LTD, the parent company. In fact, import-export activities of the subject are based on directions of that company.Ms. Nguyen Thi Hong Hanh said that thanks to improving production capacity, due to equipping new advanced machinery for the factory, the subject has created more new type of out-put products and labor forces increased from 350 to 550 people. Thus, total sales in 2020 increased well by 63% compared to the previous year. However, due to directions of ISC CO.,LTD, the subject had to export products with prices lower than costs of goods sold, she added. Thus, with negative gross profit margin due to that transfer pricing policy, the subject reported a noticeable loss and its financial structure became very risky last year.Anyway, according to Ms. Hanh, the subject is going to raise its charter capital by USD 1,000,000 in the coming time. Besides, due to directions of ISC CO.,LTD, the export prices have been adjusted better than last year since early 2021, she added. Thus, the financial situation of the subject might be improved in this year.