Nam Phat Trading And Producing Company Limited (Vietnam)

Being established in 2005 in Ha Noi City, the subject specializes in trading steel and stainless steel products with main types as sharps (I, U, V…), coils (hot-rolled steel, cold-rolled steel, galvanized steel), and sheets. Presently, besides importing steel, and stainless steel from South Korea, India, China, and Japan the company also purchases from local distributors. As a revelation from the accounting department of the company, the revenue from steel trading occupies over 90% of its total turnover recently. Its steel products mainly serve domestic demand, and only a small part is exported to Laos and Cambodia.The subject's net revenue had an upward trend, reaching nearly VND 2.484 trillion last year. Moreover, as a revelation from the accounting department, thanks to winning big bidding contracts for supplying steel products to public road and bridge projects, sales of the company continued improving remarkably so its revenue in the first nine months of 2023 reached VND 2.861 trillion, soaring by 131% over the same period last year.  However, often recording negative net income, its accumulated losses amounted to VND 140.6 billion, exceeding the owner's investment capital by VND 20.5 billion as of December 31, 2022 on the book.Especially, according to the accounting department, since 2017, the company has incurred VND 169.493 billion of settled bad debts at VIETNAM PUBLIC JOINT STOCK COMMERCIAL BANK. For those settled bad debts, the company has temporarily not paid interest expenses. Meanwhile, till now, there are not any specific repayment plans given out.