The Ministry of Industry and Trade has just reported the results of supervision and inspection of state capital management and investment activities at enterprises assigned to manage in 2025.
While Hanoi Beer - Alcohol - Beverage Corporation (Habeco) and Vietnam Engine and Agricultural Machinery Corporation - JSC (VEAM) still maintain profitability and basic financial indicators are safe, BMC Construction Materials and Trading Installation Co., Ltd. (BMC Company) continues to have to handle prolonged problems.
According to a report by the Ministry of Industry and Trade, BMC Company is under special financial supervision by the Ministry of Industry and Trade. From 2000 to now, the enterprise has not been audited financial statements by an independent audit organization.
Currently, BMC Company does not have audited financial data, leading to the inability to fully and accurately determine the asset and debt situation and production and business results.
This reality makes it difficult for BMC Company to implement special supervision requirements and develop restructuring plans according to regulations.
On March 30, 2026, the Ministry of Industry and Trade received a report from BMC Company on the results of production and business activities in 2025 and the production, business and investment development plan for 2026.
According to the report, the production and business situation of BMC Company in 2025 is as follows: Revenue in 2025 reached nearly 61 billion VND, down 42.7% compared to 2024 due to production and business activities being interrupted by legal obstacles, tax enforcement measures, difficulties in using invoices, freezing accounts and receiving and reviewing assets and records.
According to the reviewed internal financial statements, the enterprise's total assets are approximately VND 4,396 billion, while payables amount to VND 4,406 billion, causing negative equity of approximately VND 10 billion.
Notably, unfinished basic construction costs amounted to 4,029 billion VND, accounting for a very large proportion of total assets.
According to a report by the Ministry of Industry and Trade, the remaining operating units of BMC Company include BMC Quang Ninh branch, Nghe An Brick Factory, Thien An Co., Ltd., Dong Nai Brick Factory, BMC Import-Export Trade Center in Ho Chi Minh City.
Units that are not operating or doing business ineffectively are applying for temporary suspension of operations, including: BMC Branch in Hanoi, BMC Kon Tum Branch, Construction Materials Enterprise, Construction Equipment Business and Service Enterprise, BMC Construction and Infrastructure Development Enterprise, BMC Can Tho Branch...
According to a report by the Ministry of Industry and Trade, the Company's financial situation is still unsafe when the current payment ratio is approximately 0.13 times; cash ratio is about 0.003 times; payables exceed total assets and unfinished basic construction costs account for over 91% of total assets. This is the basis for the Company to continue to develop a financial restructuring plan and handle assets in 2026.
Regarding the general objectives for the 2026 production, business and investment development plan, according to the report of the Ministry of Industry and Trade, BMC Company identified this year as a pivotal year in the process of restoring production and business activities, with three pillars: fully restoring corporate legal status and gradually removing coercive measures; focusing on effectively exploiting existing assets to create short-term cash flow; restructuring finance, organization and operating model towards streamlining and efficiency.
The Company will audit financial statements in accordance with the law; develop a financial - business plan and a plan to restructure the organizational structure to submit to the Ministry of Industry and Trade for approval, as a basis for implementation in 2026 and the following years.
