Xuyen Viet Oil Travel And Transport Trading Company Limited (Vietnam)

The subject was established on 31 May 2005 as a limited liability company. It is run by Ms. Mai Thi Hong Hanh as Director and Legal Representative. She is also the largest shareholder with an ownership of 80%. The remaining shares belong to Ms. Mai Thi Ngoc Trinh. The main business operation of the subject is trading petroleum.The petroleum business market in Vietnam belongs to two big players, Petrolimex and PV Oil, with a chain of petrol stations stretching across the country. According to the announcement by the Ministry of Industry and Trade, in addition to the two companies mentioned above, 36 other petrol and oil wholesalers share the rest of the market.As of 30 Jun 2021, the subject owes tax debt up to VND 743 billion. The business situation in 2020 is also not favorable. Revenue decreased by 17% compared to the previous year. Meanwhile, due to selling below cost, the company suffered a loss of up to VND 957 billion. Accumulated loss in excess of the owner's investment capital made the owner's equity to be negative of VND 912 billion in 2020. Therefore, we cannot give a credit recommendation for this company.