Vissai Ninh Binh Joint Stock Company (Vietnam)

Founded in 2004 as a private company, the subject has nearly 20 years of operation in the field of manufacturing cement and clinker that are supplied for both domestic and exported to many countries in the world such as Bangladesh, Malaysia, China, Australia, Chile, Hong Kong, Philippines, New Zealand, Peru, South Africa, etc. The subject is an extremely large company in the market. As reported data, Despite having oscillation, profitability in the last three years was considered high. However, its financing policy had potential risks when working capital was in shortage situation and the cash ratio was always humble. However, according to Media Mass, the subject was late in paying bond principal and interest for several days in Aug 2023. The planned payment date was 18 Aug 2023 but on 22 and 25 Aug 2023, the subject just paid the principal (VND 200 billion). The given reason was that prolonged rainy weather made cash inflow from selling activities be delayed. According to our data, the subject also had an overdue payment to a creditor in 2018 with the amount of VND 411 million. According to female staff in the import and export business department, the post-epidemic economic recession also has a negative effect on its operation and revenue this year might decrease by 20% compared to the previous year. In general, transactions should be monitored periodically.