Press Release
BINH MINH PLASTICS JOINT STOCK COMPANY HONORED IN FORBES VIETNAM’S TOP 50 BEST LISTED FIRMS IN 2022, MARKING THE 45 THRIVING YEARS OF THE INDUSTRY LEADER
Ho Chi Minh City, August 2nd, 2022: Binh Minh Plastics Joint Stock Company (BM PLASCO), a SCG’s member in Vietnam, was named one of the Top 50 Best Listed Firms in 2022 by Forbes Vietnam Magazine. BM PLASCO, in particular, is the only firm in the sector of building materials specializing in plastic pipes and plastic pipe fittings to be included on this year’s list. This is a remarkable milestone for the company’s 45-year effort, manifesting its relentless commitment to create a better living for Vietnamese people through sustainable approaches .
Top 50 Listed Firms is a prestigious award by Forbes Việt Nam magazine, in which, 50 companies listed on Ho Chi Minh Stock Exchange (HSX) and Hanoi Stock Exchange (HNX) have been selected based on a ranking methodology from Forbes US. Specifically, the award assesses the firm’s performance across 05 years from 2016 to 2021, in the aspects of both financial achievements and sustainability.
In the context of Vietnam’s and global economic situation, although facing many challenges such as the Covid-19 pandemic, the rising material costs, as well as the global downturn, BM PLASCO has successfully stabilized its operations and developed steadily. In 2021, the company reached a revenue of 4,552 billion VND and a profit of 214 billion VND. Meanwhile, in the first half of 2022, the consolidated revenue of the company has reached 2.911 billion VND with 341 billion VND profit, an increase of 11.5 percent and double respectively y-o-y. These are outstanding figures that demonstrate the firm’s stability and durability during the post-pandemic business recovery era and establish long-term goals for the future.
Mr. Nguyen Thanh H a i – BM PLASCO’s Deputy Sales General Director shared: “Along with the continual development of science and technology, the Vietnam 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 product lines to satisfy the market’s rising demands. Notably, it 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 us to be more consistent with our 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 the 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 had been in the list for 4 consecutive years according to the Programme on Benchmarking and Announcing Sustainable Companies in Vietnam (CSI Programme), which was organized by Vietnam Business Council for Sustainable Development (VBCSD) under the Vietnam Chamber of Commerce and Industry (VCCI).
This year, BM PLASCO will celebrate its 45th anniversary with many proud achievements, which verify the prestige and boldness of a pioneering and leading firm in Vietnam’s plastic industry.
About BM PLASCO
BM PLASCO is a member company of the SCG in Vietnam. The company has been operating in the Vietnamese market for more than 45 years, supplying high-quality plastic products such as plastic pipes and pipe fittings (PVC-U, PEHD, and PP-R), adhesives glue and spray for the water supply and sewerage industry. The company has four plants in Ho Chi Minh City, Binh Duong, Long An, and Hung Yen, with a combined capacity of 150,000 tons per year and over 2,000 stores to meet the demands of national market.
About SCG
SCG, one of the leading conglomerates in the ASEAN region, comprises three core businesses: Cement – Building Materials, Chemicals (SCGC), and Packaging (SCGP). With more than 200 companies under its umbrella and approximately 57,000 employees, SCG creates and distributes innovative products and services that respond to the current and future needs of consumers. SCG began its business operations in Vietnam in 1992 with a trading business and gradually expanded investment in diversified businesses in the cement-building materials, chemicals, and packaging.
Today, with a total of 24 companies across Vietnam driven by more than 16,000 employees, SCG offers a variety of premium products and services to markets. SCG Cement – Building Materials offers a wide range of cement – building materials and construction & life solutions under the SCG, PRIME and COTTO brands. SCG Green Choice certified green materials meet the needs of building houses safe, comfortable and environmentally friendly. SCG’s building and lifestyle solutions will bring energy savings, better performance and sustainability to the building. In the packaging business, available products are reading & writing paper under the brand ‘IDEA’ and corrugated containers, kraft paper, and flexible packaging. In the chemicals business, available products are downstream chemicals products such as PE&PP, XLPE, PVC resin, and compound, etc.
Images at the event:
Mr. Chaowalit Treejak (CEO of BM PLASCO) and Mr. Nguyen Hoang Ngan (Vice Chairman) at the event.
Top 50 Best Listed Firms in 2022 by Forbes Vietnam Magazine