Hai Ha Waterway Transport Company Limited (Vietnam)

The company was officially licensed to import and export petroleum in 2021 by the Ministry of Industry and Trade. Key activity of the subject is retail sales and wholesale of petroleum and fuels, which has been bringing about 97% of turnover for it as a revelation from a female staff of the Import-Export Department. The sea and coastal transportation (mainly petroleum transportation) mainly serves its activity, and revenue from the trade of construction materials, supplies and spare parts for hydraulic machines was insignificant, she added.As revealed, the subject has about 25 petroleum stations for retail sales in the domestic market. It also has a distribution network widely in the country. It owns the general petroleum warehouse in Thai Binh Province with a total area of 66,600 square meters, having a total containing capacity of 75,900 m3. In Jun 2019, it additionally invested in a petroleum port warehouse in Quang Tri Province on a land area of nearly 32,000 m2, which has a total containing capacity of 30,200 m3 of petroleum and a port receiving ships up to 5,000 DWT.The subject has just increased the charter capital to VND 454,279,568,000 since late September 2022 but it may be not enough to offset the losses in the past. Noticeably, the total outstanding tax liabilities were up to (VND) 2,374,935,496,706 as of 30 Jun 2022. Its financial condition was not healthy, we advise that strict monitoring is needed for all transactions of the company.