Multi-level marketing participants 'donate' thousands of billions of dong to Thien Ngoc Minh Uy

• DNUM_BEZAEZCABG 09:37

In 2014-2015, Thien Ngoc Minh Uy Company collected a total of nearly 3,450 billion VND from people participating in the multi-level sales network..

Cơ sở Hoàng Giang Phúc của công ty Thiên Ngọc Minh Uy tại TX Thái Hòa (Nghệ An).

Hoang Giang Phuc facility of Thien Ngoc Minh Uy company in Thai Hoa town (Nghe An).

According to the inspection data of the Ministry of Industry and Trade, as of March 21, 2016, Thien Ngoc Minh Uy Company Limited currently has more than 81,000 distributor accounts in the system. Previously, in 2014-2015, this company collected 3,448 billion VND in cash from participants.

	2014	2015
Revenue	1.105	2,559
Multi-level marketing revenue	1.105	2,488
Cost of goods sold	309	704
Cost of sales	686	1,570

Unit: billion VND

Accordingly, in the period 2014-2015, the total revenue recorded by Thien Ngoc Minh Uy was 3,593 billion VND, of which 1,105 billion in 2014, and 2,488 billion in 2015. The total amount collected from participants included in revenue was 3,138 billion VND. The difference of 454 billion VND compared to revenue is explained as money from internal sales between the company, Ho Chi Minh City branch and Da Nang branch.

Also according to the figures of the past 2 years, this company has spent 1,586 billion VND paying commissions to multi-level marketing participants. The commission rate in 2015 was nearly 40%, while the total tax paid to the budget in the 2 years reached 237 billion VND.

Các “chuyên viên kinh doanh cấp một” Đinh Thị Thuyên (trái), Đinh Thị Thảo nói về sự dối trá của cơ sở Hoàng Giang Phúc TX.Thái Hòa.

“Level one business specialists” Dinh Thi Thuyen (left) and Dinh Thi Thao talk about the lies of Hoang Giang Phuc facility of Thien Ngoc Minh Uy company in Thai Hoa town.

Thien Ngoc Minh Uy Company was established on June 30, 2006, the legal representative is Ms. Lam Nu - who holds the position of Director. The company is headquartered in Hanoi and has two branches in Ho Chi Minh City and Da Nang, currently registered to trade 139 products, product sets include functional foods, cosmetics, garments and electrical hardware.

Previously, at the end of March, the Ministry of Industry and Trade decided to establish an inspection team to inspect the operations of Thien Ngoc Minh Uy and 6 other multi-level marketing companies such as Unicity, Amway Vietnam... after many violations were discovered at companies operating in this field.

According to Vnexpress