Ho Chi Minh City, September 04, 2025 – Binh Minh Plastics Joint Stock Company (HOSE: BMP), partnered with SCG – one of ASEAN’s leading conglomerates, has once again been named among the Top 50 listed companies 2025 by Forbes Vietnam. This marks the 12th year the company has earned this prestigious recognition, reaffirming its leadership in Vietnam’s plastic pipe industry, along with its sustainable growth capacity and outstanding business performance.

Mr. Niwat Athiwattananont, General Director of Binh Minh Plastics, shared: “Being recognized in Forbes Vietnam’s Top 50 listed companies is a tremendous honor for us. This achievement reflects Binh Minh Plastics’ continuous efforts in pursuing sustainable development, with product quality as the foundation. With positive revenue and profit in 2025, we are committed to developing innovative, high-quality, and environmentally friendly products that create long-term value for our customers, shareholders, and the community.”

The Forbes Vietnam Top 50 list is compiled using both quantitative and qualitative criteria. Quantitative indicators include profitability, a minimum revenue threshold of VND 500 billion, return on equity (ROE), return on invested capital (ROIC), earnings per share (EPS) growth, and audited financial statements. On the qualitative side, the assessment takes into account the sustainability of the business model, market position, corporate governance standards, and long-term growth potential.

In 2025, aligned with the Inclusive Green Growth strategy, Binh Minh Plastics achieved remarkable milestones. Notably, in Q2/2025, the company posted revenue of over VND 1.308 trillion, up 13% year-on-year. The cost of goods sold rose at a slower pace, helping gross profit reach VND 610.8 billion, a 21% increase. Gross margin stood at 46.7% – the highest since 2018. As a result, net profit after tax climbed to nearly VND 330 billion, up 18% year-on-year – the highest in its 48 years of operation.

For the first half of 2025, revenue reached over VND 2.691 trillion with nearly VND 617 billion in net profit, fulfilling half of the year’s revenue plan and more than 58% of the profit target. If this momentum continues, Binh Minh Plastics is poised to deliver the highest profit in its history. Financial income also rose nearly 50% to over VND 25 billion, driven largely by deposit interest as the company increased its bank deposits to VND 2.297 trillion from VND 1.914 trillion at the start of the year.

The strong financial performance enables Binh Minh Plastics to maintain an attractive dividend policy. This year, the company plans to allocate at least 50% of net profit for dividend payouts. In 2024, it paid out up to 99% of profits (over VND 981 billion) as cash dividends, equivalent to VND 11,990 per share. 

Beyond financial success, Binh Minh Plastics continues to affirm its pioneering role in innovation and sustainability. The company continuously diversifies its portfolio of eco-friendly products to meet the growing demand for green construction and sustainable urban development in Vietnam. Notably, Binh Minh Plastics is the first enterprise in Vietnam’s plastics and building materials industry to achieve the highest level of the Singapore Green Building Product (SGBP) certification – ‘Leader’ – for its product lines of PVC-U, PP-R, and HDPE pipes and fittings for drinking water, as well as corrugated PE pipes for wastewater. This marks a significant milestone in the company’s sustainable development journey.

With this recognition from Forbes Vietnam, Binh Minh Plastics further strengthens its leadership position in the plastic pipe industry. Looking ahead, the company will focus on driving sustainable growth through innovation, green product development, and operational excellence – delivering greater value to shareholders while contributing to Vietnam’s sustainable development.

Related images:

Binh Minh Plastics marks a milestone with 12 years in Forbes Vietnam’s Top 50 listed companies

Aligned with the Inclusive Green Growth strategy, Binh Minh Plastics advances effective and sustainable business practices.

By diversifying its product portfolio, Binh Minh Plastics meets the demand for green construction in the Vietnamese market.

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About Binh Minh Plastics

Established in 1977, Binh Minh Plastics Joint Stock Company is a leading enterprise in the construction material plastic industry in Vietnam. The company specializes in manufacturing and supplying plastic pipes and pipe fittings that meet national and international standards:

• PVC-U pipes and pipe fittings
• PP-R pipes and pipe fittings
• HDPE pipes and pipe fittings
• Double-wall corrugated HDPE pipes and fittings

All Binh Minh Plastics products have completely used a new additive system that does not contain heavy metals, certified by the UK’s WRAS organization, ensuring safety for users’ health and being environmentally friendly. Notably, Binh Minh Plastics is the first company in Vietnam’s plastics and building materials industry to achieve the highest ‘Leader’ level of the Singapore Green Building Product (SGBP) certification for its product lines of PVC-U, PP-R, and HDPE pipes and fittings for drinking water, as well as corrugated PE pipes for wastewater.

Nearly half a century of formation and development, Binh Minh Plastics has achieved many prestigious titles and awards, such as: 11 times in Top 50 listed companies; National Quality Gold Award 2018; Asia – Pacific Quality Award: World Class 2018; Sustainable Enterprise Award in Vietnam 2024; Green Enterprise Award of Ho Chi Minh City 2023; Enterprises with green transformation strategies in 2024; Enterprises for the community in 2022, 2023; voted by consumers as “High-quality Vietnamese goods” for many consecutive years; 3 consecutive years 2022, 2023, 2024, 2025 won the Best Workplace award in Asia…

About SCG

SCG is one of ASEAN’s leading conglomerates, operating across multiple core businesses: SCG Cement and Green Solutions (SCG CGS), SCG Distribution and Retail (SCG D&R), SCG Smart Living (SCG SL), SCG Chemicals (SCGC), SCG Decor (SCGD), SCG Packaging (SCGP), SCGJWD, and SCG Cleanergy. With over 200 companies and approximately 57,000 employees, SCG is committed to pioneering sustainable progress – built on trust and powered by innovation.

Since entering Vietnam in 1992, SCG has been a trusted partner in co-creating long-term value for the country. Today, with 28 companies and over 16,000 employees nationwide, SCG provides a wide range of innovative, high-quality products and solutions. The company plays an active role in delivering green construction, empowering communities, developing human potential, and advancing Vietnam’s journey toward a Net Zero future.

SCG Cement and Green Solutions provides a variety of cement-construction materials and green construction solutions. Prominent member companies such as Vietnam Construction Materials Joint Stock Company (VCM), Song Gianh Cement, and Buu Long contribute to this effort. SCG Green Choice certified green materials meet the needs of building houses in a safe, comfortable, and environmentally friendly manner.

SCG Smart Living, which includes SCG Concrete Tile and Prime – Ngoi Viet, provides smart solutions developed to serve modern lifestyles, promoting energy savings, safety, hygiene, and health protection to customers for a better quality of life

Besides, SCG Decor (SCGD) offers advanced technology ceramic tiles, water heater tiles, and bathroom equipment under the famous brand, PRIME.

Additionally, SCG Distribution & Retail supports business network expansion and supply chain management across cement, construction materials, paper, packaging, raw materials, and industrial supplies. Notably, SCG Home stands out in this regard.

In the chemicals business, SCGC offers a full range of petrochemical products, from upstream production of olefins to downstream production of three main plastic resins: polyethylene, polypropylene, and polyvinyl chloride. Additionally, it offers fabricated products such as pipes and fittings under notable industrial brands like LSP, Binh Minh Plastics, TPC VINA, and others.

In the packaging business, SCGP offers Packaging Paper, Fiber Packaging, Consumer and Performance Packaging (CPP), Foodservice Products, design, printing, and other diversified solutions under well-known brands such as Duy Tan, BATICO, SOVI, and others.