The Vietnamese Dong is the only ASEAN bloc currency that depreciated against the US$ in the first-half 2019. For electronics OEM decision makers considering EMS/ODM providers with operations in foreign countries and wanting to know contract electronics EMS and ODM earnings growth, (whether in Vietnam or other regions across Asia, and elsewhere) check to see that EMS/ODM growth is ‘true’ and not due to a majority of earnings reported under the rate in one particular country – using that country’s currency exchange rate.
ASEAN currencies vs. US$ (%) depreciation/appreciation
Earnings growth: Electronics manufacturing services (EMS), original design manufacturers (ODM)
Currency translation effects can end up in the income statement or the equity section of the balance sheet, decided by internal accounting rules. Effects that end up in the income statement are not part of continuing operations.
SEE ALSO
Vietnam and South East Asia manufacturing resources page
Vietnam possible risk of currency manipulation
OEM best practices for EMS/ODM request-for-quotes (RFQ)
Detailed steps for selecting EMS/ODM partners
For more on financial audits of contract electronics EMS/ODM providers we suggest you read this article EMS/ODM financial due diligence. For information on manufacturing in Vietnam as a technology hub, benefits and challenges, read this article. For information on conducting business in Vietnam, contract negotiations tips, dos and don’ts, read this article.
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