Binh Minh Plastics honoured by Forbes Vietnam

August 10, 2022 | 12:25
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Binh Minh Plastics JSC (BM PLASCO), an SCG member in Vietnam, was named as one of the 50 Best Listed Firms in 2022 by Forbes Vietnam.
Binh Minh Plastics honoured by Forbes Vietnam

BM PLASCO is the only group in the sector of building materials specialising in plastic pipes and plastic pipe fittings to be included in this year's list. This is a remarkable milestone for the company's 45-year effort, manifesting its relentless commitment to creating a better living environment for Vietnamese people through sustainable approaches.

Top 50 Listed Firms is a prestigious award by Forbes Vietnam magazine, in which 50 companies listed on Ho Chi Minh Stock Exchange and Hanoi Stock Exchange have been selected based on a ranking methodology from Forbes US.

The award assesses the firm’s performance over five years – from 2016 to 2021 – in the aspects of both financial achievement and sustainability.

While facing many challenges such as the pandemic, rising material costs, and the global downturn, BM PLASCO has successfully stabilised its operations and developed steadily. In 2021, the company achieved revenue of $192.4 million and a profit of around $9.2 million.

In the first half of the year, the company posted consolidated revenue of $124 million and a profit of $14.5 million – increases of 11.5 per cent and 100 per cent on-year respectively. These are outstanding figures that demonstrate the firm's stability and durability during the post-pandemic business recovery era and help establish its long-term goals for the future.

Nguyen Thanh Hai, BM PLASCO’s deputy sales general director said, “Along with the continual development of science and technology, the Vietnamese market has seen a growing number of plastic construction materials which not only focus on quality but also design and convenience of use. Founded on a firm basis, BM PLASCO strives to enhance quality and invest in new production lines in order to develop more diversified products to satisfy the market's rising demands."

Hai noted that BM PLASCO has launched its Inch PVC-U plastic pipe product range, which is made in compliance with ISO 1452, TCVN 8491 standards, and QCVN 16:2019/BXD.

These results have motivated the company to be more consistent with its objective of improving product quality in order to provide the best value to consumers while also making meaningful contributions to the community.

In addition to its excellent business performance based on continuous product innovations, BM PLASCO also consistently follows SCG’s sustainable development strategies, in which economic progress is accompanied by social benefits and environmental protection.

As the result, the company has been on the list for four consecutive years according to the Programme on Benchmarking and Announcing Sustainable Companies in Vietnam, which was organised by the Vietnam Business Council for Sustainable Development under the Vietnam Chamber of Commerce and Industry.

This year, BM PLASCO will celebrate its 45th anniversary to reinforce its position as a pioneering firm in Vietnam's plastic industry.

Binh Minh Plastics ranked amongst Vietnam’s 50 Best-Performing Companies 2019 Binh Minh Plastics ranked amongst Vietnam’s 50 Best-Performing Companies 2019

Binh Minh Plastics (HSX: BMP) has been awarded the Vietnam’s 50 Best-Performing Companies (TOP 50) 2019 title by Nhip Cau Dau Tu Magazine in tandem with Thien Viet Securities. Making this the ninth consecutive years in the Top 50, BMP has its consistent performance thanks to excellent corporate governance and strong commitment to quality improvement.

Nawaplastic lifts ownership in BMP to over 54.39 per cent Nawaplastic lifts ownership in BMP to over 54.39 per cent

After completing the purchase of an additional 1.17 million shares, Nawaplastic Industry Co., Ltd. (Nawaplastic), a subsidiary of Thailand’s SCG, has lifted its stake in Vietnamese plastic producer Binh Minh Plastic JSC (BMP) to 54.39 from 52.96 per cent.

BMP closes on abolishing foreign ownership limit BMP closes on abolishing foreign ownership limit

Binh Minh Plastics JSC (ticker BMP on HoSE) has been continuously adding necessary information to complete its documents so as to remove its foreign ownership limit (FOL), so the day when 100 per cent stakes of the company becomes available to foreign investors is coming.

By Binh Minh Plastics

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional