Masan Industrial One Member Company Limited (Vietnam)

Masan Industrial One Member Company Limited is a manufacturing unit of the food segment of Masan Group through its direct parent company Masan Food Company Limited. Masan Group is one of the famous large corporations in Vietnam, which specializes in investment management through direct subsidiaries operating in four main fields including branded consumer products; high-tech materials; meat value chain; and consumer retail. Besides, this group also participates in other segments such as financial services, telecommunications, food and beverage retail chains, and other services... MSN stocks of Masan Group were listed on HOSE at the end of 2009. Masan Industrial One Member Company Limited specializes in manufacturing spices (monosodium glutamate, fish sauces...), convenient foods (pasta, noodles...). The subject's parent company is the main distributor for all of its products. Chinsu, Tam Thai Tu, Nam Ngu, Omachi, Tien Vua… are the famous brands of this group, which are highly appreciated by customers. Therefore, this company has a good position in the industry. In the past, Masan Group faced much negative news when this Group's fish sauces (Chinsu, Nam Ngu ...) were suspected of being made only from food additives but not from fish as they are advertised. Besides, in early 2019, chili sauce branded "Chinsu" was recalled in Japan because it contained benzoic acid that was banned for use in food in this country. Most recently, the Taiwan News Agency announced that a batch of Omachi instant noodles with spicy and sour shrimp flavor imported from Vietnam has an inappropriate residue of the pesticide ethylene oxide. According to a recent analysis report, experts believe that the prospect of Masan Group's business segments will not be too positive in 2023 in the context of a decrease in spending and purchasing power in general. Especially, for the branded consumer products segment, in 2023, a decrease in real purchasing power and high inflation risks are the key factors affecting the outlook of consumer goods manufacturers. Although the product portfolio is mainly FMCG and necessary foods, these companies will still be affected by inflation, which will make middle-income consumers tend to look for lower priced brands. This trend is going against premiumization strategy of this Group.