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PLASTICS RESIN AND SYNTHETIC RUBBER INDUSTRY REPORT Q1/2018
TABLE OF CONTENTS
2
Abbreviations3 3. Plastic resins 63
Executive Summary4 4. Synthetic Rubber 70
I. Business environment 5 5. Price-affecting factors 74
1. Macroeconomic situation 5 IV. Industry risks 76
2. Legal framework 9 1. Industry risks 76
3. Trade agreements 13 2. SWOT analysis 79
II. Global market 15 V. Industry trend, forecast and planning 81
1. Definition and classification 15 1. Industry trend 81
2. Chain value of the industry 19 2. Global market forecast 83
4. Input material 22 3. Local market forecast 87
5. Plastic resins 38 4. Industry development planning 91
6. Synthetic Rubber 51 VI. Business analysis 94
III. Local market 58 1. Business Introduction 94
1. Industry scale 58 2. Financial analysis 97
2. Input material 60 VII. Appendix 107
Abbreviations
3
Abbreviation Full Name Abbreviation Name
BR Butadien Rubber PET Polyethylene Terephthalate
CIS Commonwealth of independent states PP Polypropylene
ISRG International Rubber study group PS Polystyrene
HIPS High Impact Polystyrene PVC Poly Vinyl Chloride
HPE High Density Polyethylene SBR Styrene Butadien Rubber
LLDPE Low Density Polyethylene TPP Trans-Pacific partnership
NAFTA North America Free Trade Area VPA Vietnam plastic association
PE Polyethyelene
Executive summary
4
• Primeval plastics and synthetic rubber are important input materials
for many industries, especially plastics and automobile industry.
• The development of the polymer industry relates to the petrochemical
industry and is affected by the price fluctuation, supply and demand
for the main raw materials like crude oil, gas.
• China takes the lead in thermoplastic production, with an output of
92.1 tons in 2016.
• In 2016, global sales of polymer-based products reached 851 billion
USD, up 6.2% compared to 2015.
• Global synthetic rubber production and consumption has been on the
upward trend in recent years, much greater than those of natural
rubber.
TÓM TẮT BÁO CÁO
5
• In Vietnam, the oil refinery sector has just newly-fledged, having only
Dung Quat oil refinery in operation.
• Plastic material and additive production in 9M/2017 were estimated at
915 thousand tons, up 32.8% over the same period in 2016 (689
thousand tons).
• In the first 9 months of 2017, the domestic consumption of plastic
materials reached 4,575 thousand tons, up 19.3% over the same period
in 2016.
• The demand for plastic resins has increased, resulting in a sharp
increase in plastic resin import volume between 2012 and 2016 with a
CAGR of 19%.
• Opec Plastics is a leading company among top importers of plastic raw
materials in 9M/ 2017.
• In recent years, Vietnam’s plastic industry has been highly appreciated
in terms of growth speed compared to ASEAN countries
TABLE OF CONTENTS
Part I. Business environment
1. Macroeconomic situation
2. Legal framework
3. Trade agreements
6
Part I. Business environment
1. Macroeconomic situation
Source: VIRAC, GDVC
Source: VIRAC, GSO
GDP growth rate by quarter, 2015 – 2017
Imports of plastic raw materials and percentage contribution to total turnover,
2010 – 2017
7
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Part I. Business environment
1. Macroeconomic situation
Source: VIRAC, SBV
Source: VIRAC, SBV
USD/VND exchange rate, 2013 – 12/2017
CNY/VND exchange rate, 1/2016 – 12/2017
8
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Part I. Business environment
1. Macroeconomic situation
FDI attraction by sector, 2017
Vietnamese plastic enterprise’s SCG ownership, 2016
9
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TABLE OF CONTENTS
Part I. Business environment
1. Macroeconomic situation
2. Legal framework
3. Trade agreements
10
11
• The Prime Minister signed Decision No.45/2017/QD-TTg amending and supplementing Decision No. 36/2016/QD-TTg regulating the application of
ordinary tax tariff on imported goods.
Part I. Business environment
2. Legal framework
Part I. Business environment
2. Legal framework
12
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Part I. Business environment
2. Legal framework
13
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TABLE OF CONTENTS
Part I. Business environment
1. Macroeconomic situation
2. Legal framework
3. Trade agreements
14
15
• The plastic industry is opened to positive signals thanks to priorities brought about by free trade agreements.
• Joining free trade agreements has helped Vietnam to attract immensly FDI.
Part I. Business environment
3. Trade agreements
TABLE OF CONTENTS
Part II. Global market
1. Definition and classification
2. Chain value of the industry
3. Input materials
4. Plastic resins
5. Synthetic rubber
16
Part II. Global market
1. Definition and classification – 1.1. Plastic resins
Classification by polymer effect with temperature
17
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Thermoplastic production share, 2015
Thermoset plastic production share, 2015
Source: VIRAC, ICIS
Source: VIRAC, ICIS
Part II. Global market
1. Definition and classification – 1.1. Plastic resins
Polymer usage structure, 2015
Source: VIRAC, ICIS
18
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Source: VIRAC, Rubbernews
Synthetic rubber production structure, 2015
Part II. Global market
1. Definition and classification – 1.2. Synthetic rubber
19
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• Synthetic rubber is a compound made from chemical reactions which is mainly
comprised of oil and gas.
• Synthetic rubber is classified via multiple ways.
TABLE OF CONTENTS
Part II. Global market
1. Definition and classification
2. Chain value of the industry
3. Input materials
4. Plastic resins
5. Synthetic rubber
20
Part II. Global market
2. Chain value of the industry
21
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Part II. Global market
2. Chain value of the industry
22
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• Oil refinery plants:
• The oil refinery technology with various raw material combination alters chemical features to generate desirable products.
TABLE OF CONTENTS
Part II. Global market
1. Definition and classification
2. Chain value of the industry
3. Input materials
4. Plastic resins
5. Synthetic rubber
23
Part II. Global market
3. Input materials – 3.1. Overview
24
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Part II. Global market
3. Input materials – 3.1. Overview
Source: VIRAC, IHS
Monomer input materials structure, 2016
25
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Input materials for the plastic resin and synthetic rubber industry (generally known as polymer) are oil and gas products.
Part II. Global market
3. Input materials – 3.1. Overview
Source: VIRAC, ICIS
Source: VIRAC, ICIS
Products gained from Naphtha distillation, 2015
Products gained from Ethane distillation, 2015
26
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Part II. Global market
3. Input materials – 3.2. Ethylene
Global ethylene supply and demand, 2010 -2016
Ethylene’s application, 2016
Source: VIRAC, IHS
Source: VIRAC, ICIS
27
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Part II. Global market
3. Input materials – 3.2. Ethylene
Source: VIRAC, Stratas Advisor
Ethylene production capacity and demand by region, 2015
Ethylene dichloride consumption by region, 2016
Source: VIRAC, IHS
28
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Ethylene production structure, 2016
Source: VIRAC, Statista
Million tons
Source: VIRAC, Platts
Part II. Global market
3. Input materials – 3.2. Ethylene
Global ethylene prices, 11/2016 – 12/2017
29
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Part II. Global market
3. Input materials – 3.2. Ethylene
Source: VIRAC, Uncomtrade
Source: VIRAC, UncomtradeSource: VIRAC, Uncomtrade
Global ethylene trade, 2011 - 2016
Global ethylene export structure, 2016 Ethylene import structure, 2016
30
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Part II. Global market
3. Input materials – 3.3. Propylene
Source: VIRAC, ICIS
Source: VIRAC, ICIS
Global propylene export structure, 2010 – 2016
Propylene export structure by region, 2016
31
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Part II. Global market
3. Input materials – 3.3. Propylene
Source: VIRAC, ICIS
Global Propylene export, 2011 – 2016e
Source:VIRAC, Platts
32
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Global Propylene price, 11/2016 – 11/2017
Source: VIRAC, ICIS
Global butadiene capability and production, 2011 -2015
Butadiene production structure by country, 2015
Source: VIRAC, ICIS
Part II. Global market
3. Input materials – 3.4. Butadiene
33
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Part II. Global market
3. Input materials – 3.4. Butadiene
Source: VIRAC, IHS
Source: VIRAC, American Chemical Society
Butadiene consumption structure by type 2017
SBR consumption by region, 2016
34
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Part II. Global market
3. Input materials – 3.4. Butadiene
Fluctuations of butadiene prices, 1/2011 – 1/2017
Source: VIRAC, Bloomerg
35
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Part II. Global market
3. Input materials – 3.4. Butadiene
Butadiene production capacity of some companies in the world
36
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Part II. Global market
3. Input materials – 3.5. Benzene
Global benzene supply and demand, 2012 – 2017F
Source: VIRAC, IHS
37
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Part II. Global market
3. Input materials – 3.5. Benzene
Source: VIRAC, Platts
Structure of benzene use in the world, 2015
Fluctuations of Benzene prices, 11/2016 – 11/2017
Source: VIRAC, Platts
38
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TABLE OF CONTENTS
39
Part II. Global market
1. Definition and classification
2. Chain value of the industry
3. Input materials
4. Plastic resins
5. Synthetic rubber
Part II. Global market
4. Plastic resins – 4.1. Production
Source: VIRAC, Europe PlasticSource: VIRAC, Europe Plastic
Plastics resin production structure by country, 2016Global polymer production, 2009 – 2016e
40
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Part II. Global market
4. Plastic resins – 4.1. Production
41
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42
Part II. Global market
4. Plastic resins – 4.2. Consumption
Global polymer production capacity, 2016
Source: VIRAC, Cefic Chemdata International 2016
Million tons
Million tons
Source: VIRAC, Cefic Chemdata International 2016
Plastic resin production capacity by region, 2016
43
Part II. Global market
4. Plastic resins – 4.2. Consumption
Global polymer sales, 2006 - 2016
Billion USD
Source: VIRAC, Cefic Chemdata International 2016
Regional polymer sales, 2016
Source: VIRAC, Cefic Chemdata International 2016
44
Source: VIRAC, VPA
Source: VIRAC, Statista
• Plastic resins have a wide variety of use cases for multiple sectors.
Part II. Global market
4. Plastic resins – 4.2. Consumption
Kg/person
Polymer consumption structure by sector, 2015
Global per capita plastic material consumption by region, 2015
Source: VIRAC, ICIS
Source: VIRAC, AMI
Global polymer consumption demand, 2010 – 2016e
Polymer consumption demand by region, 2016
Part II. Global market
4. Plastic resins – 4.2. Consumption
45
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46
Source: VIRAC, Platts
Source: VIRAC, IHS
Part II. Global market
4. Plastic resins – 4.2. Consumption
Source: VIRAC, ICIS
PE demand by region, 2016
PE consumption by type, 2016
PE consumption by use case, 2016
47
Source: VIRAC, UN Comtrade
Part II. Global market
4. Plastic resins – 4.3. Import-export
Billion USD
Source: VIRAC, UN Comtrade
Global PE export, 2012 - 2016e
Plastic resin exporting markets, 2016e
Source: VIRAC, UN Comtrade
Million tons
48
Source: VIRAC, UN Comtrade
Part II. Global market
4. Plastic resins – 4.3. Import-export
Billion
USD
Source: VIRAC, UN Comtrade
Plastic resin importing markets, 2016e
Global PE import, 2012 - 2016e
Million tons
Source: VIRAC, UN Comtrade
49
Part II. Global market
4. Plastic resins – 4.3. Import-export
Source : VIRAC, Plastic Insight
Source : VIRAC, Plastic Insight
Billion USD
Million USD
Top 10 world‘s largest PP importers, 2016
Top 10 world‘s largest PVC importers, 2016
Source: VIRAC, Plastics New Europe
Fluctuations of polymer price, 5/2015 – 9/2017
Part II. Global market
4. Plastic resins – 4.3. Import-export
50
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Source: VIRAC, ICIS
China
PVC production and consumption in China, 2010 -2025f
Part II. Global market
4. Plastic resins – 4.4. Characteristics of some main polymer producing markets
51
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Source: VIRAC, Europe Plastic
Europe’s polymer production, 2011- 2016
Part II. Global market
4. Plastic resins – 4.4. Characteristics of some main polymer producing markets
Europe
52
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Key European polymer im-exporting markets, 2016
Source: VIRAC, Europe Plastic
Part II. Global market
4. Plastic resins – 4.4. Characteristics of some main polymer producing markets
Source: VIRAC, Europe Plastic
Source: VIRAC, Europe Plastic
Europe’s polymer usage by sector, 2016 Europe’s polymer usage by types, 2016
Europe’s polymer demand by country, 2016
53
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Source: VIRAC, Statistic
Polymer production in America, 2008 -2016
Part II. Global market
4. Plastic resins – 4.4. Characteristics of some main polymer producing markets
54
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The rest of Asia – Potential Demand
Part II. Global market
4. Plastic resins – 4.4. Characteristics of some main polymer producing markets
55
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TABLE OF CONTENTS
Part II. Global market
1. Definition and classification
2. Chain value of the industry
3. Input materials
4. Plastic resins
5. Synthetic rubber
56
Source: VIRAC, IRSG Source: VIRAC, IRSG
Source: VIRAC, IRSG
Global rubber production and consumption, 2010 – 6M/2017 Rubber production structure in the world, 2010 – 6M/2017
Global rubber consumption structure, 2010 – 6M/2017
Part II. Global market
5. Synthetic rubber – 5.1. Production and consumption
57
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Source: VIRAC, IRSG
Source: VIRAC, IRSG
Global synthetic rubber production and consumption, 2010 –
6M/2017
The structure of synthetic rubber consumption by product, 2015
Part II. Global market
5. Synthetic rubber – 5.1. Production and consumption
58
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Source: VIRAC, IRSG
Source: VIRAC, IRSG
Global synthetic rubber production, 2013 - 6M/2017
Global synthetic rubber production market, 6M/2017
Part II. Global market
5. Synthetic rubber – 5.1. Production and consumption
59
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Source: VIRAC, IRSG
Source: VIRAC, IRSG
Synthetic rubber consumption, 2013 - 6M/2017
Synthetic rubber consumption market, 6M/2017
Part II. Global market
5. Synthetic rubber – 5.1. Production and consumption
60
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Source: VIRAC, IRSG
Source: VIRAC, Uncomtrade
Global synthetic rubber trade, 2012 - 2016e
Top largest synthetic rubber importers – exporters 2016e
Part II. Global market
5. Synthetic rubber – 5.2. Import - Export
61
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Source: VIRAC, IRSG
Global price volatility of natural rubber and synthetic rubber, 2012 - Q3/2017
Part II. Global market
5. Synthetic rubber – 5.3. Price fluctuation
62
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TABLE OF CONTENTS
Part III. Vietnam's market
1. Industry scale
2. Input materials
3. Plastic resins
4. Synthetic rubber
5. Price-affected factors
63
Source: VIRAC
Part III. Vietnam's market
1. Plastic resins – 1.1. Production
64
No Product
Capacity
(ton/year) Producer
1 PVC
2 PVC
3 PP
4 PE
5 BOPP
6 BOPP
7 PS
8 PET
9 EPS
10 EPS
Total
Plastic resin and additives production capacity, 2015
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TABLE OF CONTENTS
Part III. Vietnam's market
1. Industry scale
2. Input materials
3. Plastic resins
4. Synthetic rubber
5. Price-affected factors
65
Part III. Vietnam's market
2. Input materials
66
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67
Part III. Vietnam's market
2. Input materials
Monomer imports, 2012 - 6T/2017e
Source: VIRAC, GDVC
Thousand USD
Aromatic compound imports, 2013 - 6T/2017e
Source: VIRAC, GDVC
Thousand USD
TABLE OF CONTENTS
Part III. Vietnam's market
1. Industry scale
2. Input materials
3. Plastic resins
4. Synthetic rubber
5. Price-affected factors
68
Source: VIRAC, MIT, GSO
Source: VIRAC, MIT, GSO
Part III. Vietnam's market
3. Plastic resins – 3.1 Production
Polymer Production, 2010 – 2017
69
Polypropylene supply and demand in Vietnam, 2010 – 2017
Content is intentionally removed for demo purpose
Source: VIRAC, TCTK
Part III. Vietnam's market
3. Plastic resins – 3.1 Production
70
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LLDPE, LDPE, HDPE, PP distribution figures in the northern market,
2014-2015
Source: VIRAC, HCD White paper
PP production and consumption of Binh Son Oil Refinery, 2013 -
6T/2017
Source: VIRAC, HCD White paper
Plastic materials by region, 2017
Source: VIRAC, MIT, GSO
Source: VIRAC, MIT, GSO
Part III. Vietnam's market
3. Plastic resins – 3.2. Consumption
71
Polymer consumption in Vietnam, 2010 – 2017
Polymer consumption structure by sector in Vietnam, 2017
Content is intentionally removed for demo purpose
Source: VIRAC, GDVC
Source: VIRAC, GDVC
Part III. Vietnam's market
3. Plastic resins – 3.3 Import - Export
Plastic resins imports, 2010 – 2017
Plastic material importing market by output, 2017
72
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Plastic material importing market by value, 2017
Source: VIRAC, GDVC
Source: VIRAC, GDVC
Part III. Vietnam's market
3. Plastic resins – 3.3 Import - Export
Source: VIRAC, GDVC
Polymer import structure by volume, 6T/2017e Proportion of top largest plastic material importers, 9T/2017
73
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Plastic material import structure by type, 2017
Source: VIRAC, GDVC
Part III. Vietnam's market
3. Plastic resins – 3.3 Import - Export
74
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Source: VIRAC, GDVC
Polymer
type
2012 2013 2014 2015 2016 2017
PE
PP
PVC
PET
EVA
PS
Imports of some polymer types, 2012 – 9T/2017e
Source: VIRAC, GDVC
Part III. Vietnam's market
3. Plastic resins – 3.3 Import - Export
Source: VIRAC, GDVC
PP importing markets, 6T/2017e
75
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Source: VIRAC, GDVC
PE import structure by type, 6T/2017ePE importing markets, 6T/2017e
Part III. Vietnam's market
3. Plastic resins – 3.3 Import - Export
Source: VIRAC, GDVC
76
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Source: VIRAC, GDVC
Top largest PE importing enterprises, 6T/2017e
Top largest PP importing enterprises, 6T/2017e
Source: VIRAC, GDVC
Part III. Vietnam's market
3. Plastic resins – 3.3 Import - Export
Source: VIRAC, GDVC
77
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Source: VIRAC, GDVC
Polymer importing market structure by volume, 2017Polymer importing value, 2012-2017
Polymer importing market structure by value, 2017
Source: VIRAC, GDVC
Part III. Vietnam's market
3. Plastic resins – 3.3 Import - Export
Source: VIRAC, GDVC
PE & PP export values, 2017
78
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Source: VIRAC, GDVC
Top 10 largest plastic material exporters, 9T/2017Plastic export structure by type, 2017
Source: VIRAC, GDVC
Part III. Vietnam's market
3. Plastic resins – 3.3 Import - Export
Source: VIRAC, GDVC
79
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Source: VIRAC, GDVC
Top 10 largest PE exporters, 6T/2017e
PE exporting market structure, 6T/2017e PP exporting market structure, 6T/2017e
Top 10 largest PP exporters, 6T/2017e
Source: VIRAC, GDVC
Part III. Vietnam's market
3. Plastic resins – 3.4. Production technology
80
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TABLE OF CONTENTS
Part III. Vietnam's market
1. Industry scale
2. Input materials
3. Plastic resins
4. Synthetic rubber
5. Price-affected factors
81
Source: VIRAC, UN Comtrade, GDVC
Part III. Vietnam's market
4. Synthetic rubber – 4.1 Import - Export
Synthetic rubber import and export, 2011 – 2017e
82
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Part III. Vietnam's market
4. Synthetic rubber – 4.1 Import - Export
Source: VIRAC, GDVC
Export market structure of synthetic rubber, 2017e
Import market structure of synthetic rubber, 2017e
Source: VIRAC, GDVC
83
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Part III. Vietnam's market
4. Synthetic rubber – 4.1 Import - Export
Source: VIRAC, GDVC
Top 10 largest synthetic rubber exporters, 9T/2017e
Top 10 largest synthetic rubber importers, 9T/2017e
Source: VIRAC, GDVC
84
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TABLE OF CONTENTS
Part III. Vietnam's market
1. Industry scale
2. Input materials
3. Plastic resins
4. Synthetic rubber
5. Price-affected factors
85
World crude oil average price, 2014 -2017
Monomer price volatility, 2/2016 - 1/2017
Part III. Vietnam's market
5. Price-affected factors
Source: VIRAC, Bloomberg
Source: VIRAC, Bloomberg
86
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TABLE OF CONTENTS
Part IV. Industry risks
1. Industry risks
2. SWOT analysis
87
Part IV. Industry risks
1. Industry risks
88
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Part IV. Industry risks
1. Industry risks
89
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TABLE OF CONTENTS
Part IV. Industry risks
1. Industry risks
2. SWOT analysis
90
Part IV. Industry risks
2. SWOT analysis
91
Strength Weaknesses
Opportunities Threats
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TABLE OF CONTENTS
Part V. Industry trend, forecast and planning
1. Industry trend
2. Global market forecast
3. Vietnam's market forecast
4. Industry development planning
92
Source: VIRAC, European Bioplastic
Part V. Industry trend, forecast and planning
1. Industry trend
Bioplastic production capacity in the world,
2012 - 2018F
93
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TABLE OF CONTENTS
Part V. Industry trend, forecast and planning
1. Industry trend
2. Global market forecast
3. Vietnam's market forecast
4. Industry development planning
94
Source: VIRAC, IHS
Part V. Industry trend, forecast and planning
2. Global market forecast
Global PP & PE demand growth, 2014 – 2019f
95
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Part V. Industry trend, forecast and planning
2. Global market forecast
96
Content is intentionally removed for demo purpose
Source: VIRAC, Polymerupdate
Part V. Industry trend, forecast and planning
2. Global market forecast
97
Time Company Capacity Location
Synthetic rubber production projects in Asia, 2012 - 2016
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TABLE OF CONTENTS
Part V. Industry trend, forecast and planning
1. Industry trend
2. Global market forecast
3. Vietnam's market forecast
4. Industry development planning
98
Source: VIRAC
Part V. Industry trend, forecast and planning
3. Vietnam's market forecast
99
Project Location Capital Capacity (million tons/year)
Some petrochemical refining projects in Vietnam, 2010 - 2020
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Source: VIRAC, GDVC
Source: VIRAC, VPA
Part V. Industry trend, forecast and planning
3. Vietnam's market forecast
Plastics consumption per capita, 1989 – 2020F
Plastic export turnover, 2010 – 2017e
100
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Source: VIRAC, MOIT
2013 2014F 2015F 2016F 2017F 2018F CAGR
Demand forecast for tires in Vietnam, 2013 – 2018F
Part V. Industry trend, forecast and planning
3. Vietnam's market forecast
101
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Source: VIRAC,
PP and PVC production capacity forecast, 2016 – 2021f
Part V. Industry trend, forecast and planning
3. Vietnam's market forecast
102
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Thousand tons/year
TABLE OF CONTENTS
Part V. Industry trend, forecast and planning
1. Industry trend
2. Global market forecast
3. Vietnam's market forecast
4. Industry development planning
103
Part V. Industry trend, forecast and planning
4. Industry development planning
104
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Part V. Industry trend, forecast and planning
4. Industry development planning
Source: VIRAC, MOIT
105
No. Project name Location
Investment information
Capacity (1.000
tons/year)
Investment capital
(million USD)Time
Oil refinery projects, 2011 - 2020
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TABLE OF CONTENTS
Part VI. Business analysis
1. Business introduction
2. Financial analysis
106
Company Logo
Total asset
(VND
billion)
Revenue
(VND billion)General information
Part VI. Business analysis
6.1 Business introduction
107
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Part VI. Business analysis
6.1 Business introduction
Company Logo
Total asset
(VND
billion)
Revenue
(VND billion)General information
108
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TABLE OF CONTENTS
Part VI. Business analysis
1. Business introduction
2. Financial analysis
109
Net revenue, 2015 - 2016
Part VI. Business analysis
6.2 Financial analysis – Business performance
110
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Gross profit, 2015 - 2016
Part VI. Business analysis
6.2 Financial analysis – Business performance
111
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Self-financing rate, 2015 - 2016
Part VI. Business analysis
6.2 Financial analysis – Business performance
112
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Financial expenses, 2015 - 2016
Part VI. Business analysis
6.2 Financial analysis – Business performance
113
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Total assets ratio, 2015 - 2016
Part VI. Business analysis
6.2 Financial analysis – Financial indicators
114
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Fixed assets ratio, 2015 - 2016
Part VI. Business analysis
6.2 Financial analysis – Financial indicators
115
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Total debt / equity, 2015 - 2016
Part VI. Business analysis
6.2 Financial analysis – Financial indicators
116
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Profit ratio, 2015 - 2016
Part VI. Business analysis
6.2 Financial analysis – Financial indicators
117
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Payment indicators of enterprises, 2015 - 2016
Part VI. Business analysis
6.2 Financial analysis – Payment indicators
118
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TABLE OF CONTENTS
Part VII. Appendix
119
BALANCE SHEETS
Unit: VND million
2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term Investments
III. Account Receivable
1. Trade receivable
2. Advances to suppliers
IV. Inventories
V. Other current assets
B. NON-CURRENT ASSETS
I. Fixed assets
II. Long-term Investments
III. Other long-term assets
TOTAL ASSETS
A. LIABILITIES
I. Current Liabilities
1. Short-term loans
2. Trade payables
II. Non current Liabilities
2. Long-term loans
B. OWNER’S EQUITY
C. MINORITY INTEREST
TOTAL LIABILITIES AND OWNERS’EQUITY
INCOME STATEMENT
Unit: VND million
2015 2016
Net Revenue from Sale of goods and services
Cost of good sold
Gross Profit
Financing income
Financial expense
Interest Expenses
Selling Expenses
General & adminitrative expenses
Operating profit
Other Income
Other Expenses
Other Profits
Profit from associate & venture companny
Total Profit Before Tax
Current corporate Income Tax Expense
Deferred Income Tax Expense
Net Profit After Tax
CASH FLOW STATEMENT
Unit: VND million
2015 2016
I. Cash Flow From Operating activities
Net Cash Flow From Operations
II. Cash Flow From Investing activities
Cash Flow From Investing activities
III. Cash Flow From Financing activities
Cash Flow From Financing actvities
Net Cash Flow in the period
Cash and cash equivalents at beginning of year
Influence Of Exchange Rate Differences
Cash and cash equivalents at end of year
120
APPENDIX
TPC VINA Plastic and Chemical Corporation Limited
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CASH FLOW STATEMENT
Unit: VND million
2015 2016
I. Cash Flow From Operating activities
Net Cash Flow From Operations
II. Cash Flow From Investing activities
Cash Flow From Investing activities
III. Cash Flow From Financing activities
Cash Flow From Financing actvities
Net Cash Flow in the period
Cash and cash equivalents at beginning of year
Influence Of Exchange Rate Differences
Cash and cash equivalents at end of year
BALANCE SHEETS
Unit: VND million
2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term Investments
III. Account Receivable
1. Trade receivable
2. Advances to suppliers
IV. Inventories
V. Other current assets
B. NON-CURRENT ASSETS
I. Fixed assets
II. Long-term Investments
III. Other long-term assets
TOTAL ASSETS
A. LIABILITIES
I. Current Liabilities
1. Short-term loans
2. Trade payables
II. Non current Liabilities
2. Long-term loans
B. OWNER’S EQUITY
C. MINORITY INTEREST
TOTAL LIABILITIES AND OWNERS’EQUITY
INCOME STATEMENT
Unit: VND million
2015 2016
Net Revenue from Sale of goods and services
Cost of good sold
Gross Profit
Financing income
Financial expense
Interest Expenses
Selling Expenses
General & adminitrative expenses
Operating profit
Other Income
Other Expenses
Other Profits
Profit from associate & venture companny
Total Profit Before Tax
Current corporate Income Tax Expense
Deferred Income Tax Expense
Net Profit After Tax
121
APPENDIX
Resinoplast Vietnam Company Limited
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122
APPENDIX
SIK Vietnam Company Limited
CASH FLOW STATEMENT
Unit: VND million
2015 2016
I. Cash Flow From Operating activities
Net Cash Flow From Operations
II. Cash Flow From Investing activities
Cash Flow From Investing activities
III. Cash Flow From Financing activities
Cash Flow From Financing actvities
Net Cash Flow in the period
Cash and cash equivalents at beginning of year
Influence Of Exchange Rate Differences
Cash and cash equivalents at end of year
BALANCE SHEETS
Unit: VND million
2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term Investments
III. Account Receivable
1. Trade receivable
2. Advances to suppliers
IV. Inventories
V. Other current assets
B. NON-CURRENT ASSETS
I. Fixed assets
II. Long-term Investments
III. Other long-term assets
TOTAL ASSETS
A. LIABILITIES
I. Current Liabilities
1. Short-term loans
2. Trade payables
II. Non current Liabilities
2. Long-term loans
B. OWNER’S EQUITY
C. MINORITY INTEREST
TOTAL LIABILITIES AND OWNERS’EQUITY
INCOME STATEMENT
Unit: VND million
2015 2016
Net Revenue from Sale of goods and services
Cost of good sold
Gross Profit
Financing income
Financial expense
Interest Expenses
Selling Expenses
General & adminitrative expenses
Operating profit
Other Income
Other Expenses
Other Profits
Profit from associate & venture companny
Total Profit Before Tax
Current corporate Income Tax Expense
Deferred Income Tax Expense
Net Profit After Tax
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APPENDIX
Vietnam Polystyrene Company Limited
CASH FLOW STATEMENT
Unit: VND million
2015 2016
I. Cash Flow From Operating activities
Net Cash Flow From Operations
II. Cash Flow From Investing activities
Cash Flow From Investing activities
III. Cash Flow From Financing activities
Cash Flow From Financing actvities
Net Cash Flow in the period
Cash and cash equivalents at beginning of year
Influence Of Exchange Rate Differences
Cash and cash equivalents at end of year
BALANCE SHEETS
Unit: VND million
2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term Investments
III. Account Receivable
1. Trade receivable
2. Advances to suppliers
IV. Inventories
V. Other current assets
B. NON-CURRENT ASSETS
I. Fixed assets
II. Long-term Investments
III. Other long-term assets
TOTAL ASSETS
A. LIABILITIES
I. Current Liabilities
1. Short-term loans
2. Trade payables
II. Non current Liabilities
2. Long-term loans
B. OWNER’S EQUITY
C. MINORITY INTEREST
TOTAL LIABILITIES AND OWNERS’EQUITY
INCOME STATEMENT
Unit: VND million
2015 2016
Net Revenue from Sale of goods and services
Cost of good sold
Gross Profit
Financing income
Financial expense
Interest Expenses
Selling Expenses
General & adminitrative expenses
Operating profit
Other Income
Other Expenses
Other Profits
Profit from associate & venture companny
Total Profit Before Tax
Current corporate Income Tax Expense
Deferred Income Tax Expense
Net Profit After Tax
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APPENDIX
AGC Chemicals Vietnam Company Limited
CASH FLOW STATEMENT
Unit: VND million
2015 2016
I. Cash Flow From Operating activities
Net Cash Flow From Operations
II. Cash Flow From Investing activities
Cash Flow From Investing activities
III. Cash Flow From Financing activities
Cash Flow From Financing actvities
Net Cash Flow in the period
Cash and cash equivalents at beginning of year
Influence Of Exchange Rate Differences
Cash and cash equivalents at end of year
BALANCE SHEETS
Unit: VND million
2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term Investments
III. Account Receivable
1. Trade receivable
2. Advances to suppliers
IV. Inventories
V. Other current assets
B. NON-CURRENT ASSETS
I. Fixed assets
II. Long-term Investments
III. Other long-term assets
TOTAL ASSETS
A. LIABILITIES
I. Current Liabilities
1. Short-term loans
2. Trade payables
II. Non current Liabilities
2. Long-term loans
B. OWNER’S EQUITY
C. MINORITY INTEREST
TOTAL LIABILITIES AND OWNERS’EQUITY
INCOME STATEMENT
Unit: VND million
2015 2016
Net Revenue from Sale of goods and services
Cost of good sold
Gross Profit
Financing income
Financial expense
Interest Expenses
Selling Expenses
General & adminitrative expenses
Operating profit
Other Income
Other Expenses
Other Profits
Profit from associate & venture companny
Total Profit Before Tax
Current corporate Income Tax Expense
Deferred Income Tax Expense
Net Profit After Tax
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APPENDIX
Toyo Ink Compounds Vietnam Company Limited
CASH FLOW STATEMENT
Unit: VND million
2015 2016
I. Cash Flow From Operating activities
Net Cash Flow From Operations
II. Cash Flow From Investing activities
Cash Flow From Investing activities
III. Cash Flow From Financing activities
Cash Flow From Financing actvities
Net Cash Flow in the period
Cash and cash equivalents at beginning of year
Influence Of Exchange Rate Differences
Cash and cash equivalents at end of year
BALANCE SHEETS
Unit: VND million
2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term Investments
III. Account Receivable
1. Trade receivable
2. Advances to suppliers
IV. Inventories
V. Other current assets
B. NON-CURRENT ASSETS
I. Fixed assets
II. Long-term Investments
III. Other long-term assets
TOTAL ASSETS
A. LIABILITIES
I. Current Liabilities
1. Short-term loans
2. Trade payables
II. Non current Liabilities
2. Long-term loans
B. OWNER’S EQUITY
C. MINORITY INTEREST
TOTAL LIABILITIES AND OWNERS’EQUITY
INCOME STATEMENT
Unit: VND million
2015 2016
Net Revenue from Sale of goods and services
Cost of good sold
Gross Profit
Financing income
Financial expense
Interest Expenses
Selling Expenses
General & adminitrative expenses
Operating profit
Other Income
Other Expenses
Other Profits
Profit from associate & venture companny
Total Profit Before Tax
Current corporate Income Tax Expense
Deferred Income Tax Expense
Net Profit After Tax
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APPENDIX
Viet Thai Plastchem Company Limited
CASH FLOW STATEMENT
Unit: VND million
2015 2016
I. Cash Flow From Operating activities
Net Cash Flow From Operations
II. Cash Flow From Investing activities
Cash Flow From Investing activities
III. Cash Flow From Financing activities
Cash Flow From Financing actvities
Net Cash Flow in the period
Cash and cash equivalents at beginning of year
Influence Of Exchange Rate Differences
Cash and cash equivalents at end of year
BALANCE SHEETS
Unit: VND million
2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term Investments
III. Account Receivable
1. Trade receivable
2. Advances to suppliers
IV. Inventories
V. Other current assets
B. NON-CURRENT ASSETS
I. Fixed assets
II. Long-term Investments
III. Other long-term assets
TOTAL ASSETS
A. LIABILITIES
I. Current Liabilities
1. Short-term loans
2. Trade payables
II. Non current Liabilities
2. Long-term loans
B. OWNER’S EQUITY
C. MINORITY INTEREST
TOTAL LIABILITIES AND OWNERS’EQUITY
INCOME STATEMENT
Unit: VND million
2015 2016
Net Revenue from Sale of goods and services
Cost of good sold
Gross Profit
Financing income
Financial expense
Interest Expenses
Selling Expenses
General & adminitrative expenses
Operating profit
Other Income
Other Expenses
Other Profits
Profit from associate & venture companny
Total Profit Before Tax
Current corporate Income Tax Expense
Deferred Income Tax Expense
Net Profit After Tax
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APPENDIX
Tin Kim Plastic Joint Stock Company
CASH FLOW STATEMENT
Unit: VND million
2015 2016
I. Cash Flow From Operating activities
Net Cash Flow From Operations
II. Cash Flow From Investing activities
Cash Flow From Investing activities
III. Cash Flow From Financing activities
Cash Flow From Financing actvities
Net Cash Flow in the period
Cash and cash equivalents at beginning of year
Influence Of Exchange Rate Differences
Cash and cash equivalents at end of year
BALANCE SHEETS
Unit: VND million
2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term Investments
III. Account Receivable
1. Trade receivable
2. Advances to suppliers
IV. Inventories
V. Other current assets
B. NON-CURRENT ASSETS
I. Fixed assets
II. Long-term Investments
III. Other long-term assets
TOTAL ASSETS
A. LIABILITIES
I. Current Liabilities
1. Short-term loans
2. Trade payables
II. Non current Liabilities
2. Long-term loans
B. OWNER’S EQUITY
C. MINORITY INTEREST
TOTAL LIABILITIES AND OWNERS’EQUITY
INCOME STATEMENT
Unit: VND million
2015 2016
Net Revenue from Sale of goods and services
Cost of good sold
Gross Profit
Financing income
Financial expense
Interest Expenses
Selling Expenses
General & adminitrative expenses
Operating profit
Other Income
Other Expenses
Other Profits
Profit from associate & venture companny
Total Profit Before Tax
Current corporate Income Tax Expense
Deferred Income Tax Expense
Net Profit After Tax
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128
APPENDIX
Dainichi Color Viet Nam Company Limited
CASH FLOW STATEMENT
Unit: VND million
2015 2016
I. Cash Flow From Operating activities
Net Cash Flow From Operations
II. Cash Flow From Investing activities
Cash Flow From Investing activities
III. Cash Flow From Financing activities
Cash Flow From Financing actvities
Net Cash Flow in the period
Cash and cash equivalents at beginning of year
Influence Of Exchange Rate Differences
Cash and cash equivalents at end of year
BALANCE SHEETS
Unit: VND million
2015 2016
A. CURRENT ASSETS
I. Cash and cash equivalents
II. Short-term Investments
III. Account Receivable
1. Trade receivable
2. Advances to suppliers
IV. Inventories
V. Other current assets
B. NON-CURRENT ASSETS
I. Fixed assets
II. Long-term Investments
III. Other long-term assets
TOTAL ASSETS
A. LIABILITIES
I. Current Liabilities
1. Short-term loans
2. Trade payables
II. Non current Liabilities
2. Long-term loans
B. OWNER’S EQUITY
C. MINORITY INTEREST
TOTAL LIABILITIES AND OWNERS’EQUITY
INCOME STATEMENT
Unit: VND million
2015 2016
Net Revenue from Sale of goods and services
Cost of good sold
Gross Profit
Financing income
Financial expense
Interest Expenses
Selling Expenses
General & adminitrative expenses
Operating profit
Other Income
Other Expenses
Other Profits
Profit from associate & venture companny
Total Profit Before Tax
Current corporate Income Tax Expense
Deferred Income Tax Expense
Net Profit After Tax
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