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.
Binh Minh Plastics ranked amongst Vietnam’s 50 Best-Performing Companies 2019
Vietnam’s 50 Best-Performing Companies is a prestigious annual ranking by Nhip Cau Dau Tu Managazine to honour the most effective companies on the Vietnam stock exchange. The ranking process took counsel from many economists and business experts who were Harvard Business School graduates. TOP 50 evaluates businesses’ results of three fiscal years in a row, based on three indicators: revenue, return on equity (ROE), and earnings per share (EPS).
In 2019, Binh Minh Plastics’s revenue reached VND4.34 trillion ($186.7 million), up 5 per cent on-year, while after-tax profit was VND423 billion ($18.39 million). The company's sales revenue also increased at a compound annual growth rate (CAGR) of 9.4 per cent, and ROE of 18.2 per cent (average in 2017-2019).
General director Nguyen Hoang Ngan said: “In order to obtain such achievements, Binh Minh Plastics has been concentrating on product quality and productivity. The company has applied a top quality management system such as Quality Management System (QMS), Enterprise Management System (EMS), ISO:9001, and ISO 14001 across its manufacturing process. Consistent product quality along with great customer service is the core of our long-term success.”
Along with this direction, Binh Minh Plastics has had a strong reputation among the Vietnamese business community over the past 40 years. The company has earned recognitions both locally and internationally, including Vietnam’s Top 50 Best Listed Companies by Forbes Vietnam Magazine, Top 50 Best Companies to Work for in Asia by HR Asia Magazine in 2019, Top 100 Sustainable Businesses – CSI Award, Top 50 Best Valuable Brand of Vietnam, and 24 consecutive Vietnamese High-Quality Goods Award (1996-2020).
“Our business strategy is to continuously enhance our capability with up-to-date management methods and mechanisms while proactively responding to the market needs. As part of SCG – the leading ASEAN conglomerate – Binh Minh Plastics will also follow a sustainable business path to develop our business in line with social and environmental welfare," added Ngan.