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DONG DO FUEL IMPORT EXPORT JOINT STOCK COMPANY

Active

Business ID 0311880974

84-28 / 3922 5406 - 3823 2262

DONG DO FUEL IMPORT EXPORT JOINT STOCK COMPANY

Active

Business ID 0311880974

84-28 / 3922 5406 - 3823 2262

DONG DO FUEL IMPORT EXPORT JOINT STOCK COMPANY

Active

Summary

Name:

DONG DO FUEL IMPORT EXPORT JOINT STOCK COMPANY

Business ID (TIN):

0311880974

Date of Registration:

16 Jul 2012

Registered Office:

Ho Chi Minh Department of Planning and Investment

Address:

85 Hai Ba Trung, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

Phone:

84-28 / 3922 5406 - 3823 2262

Fax:

(84-28) 3823 9466

Financial Statement:

2020, 2021, 2022, 2023, 2024

DONG DO FUEL IMPORT EXPORT JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN XUẤT NHẬP KHẨU NHIÊN LIỆU ĐÔNG ĐÔ): A Complex Case in Vietnam’s Petroleum Trade—But One Worth Understanding

DONG DO FUEL IMPORT EXPORT JOINT STOCK COMPANY, business registration number 0311880974, has been operating for over 12 years in Vietnam’s fuel wholesale sector. Headquartered in the heart of Ho Chi Minh City with additional branches in Hau Giang, Soc Trang, and Can Tho, the company focuses on the trading of petroleum and fuel-related products. Like many private companies navigating a volatile commodity market, Dong Do Fuel’s recent financials have drawn scrutiny—but any fair evaluation must balance realism with context.

The Financial Picture—Not Just Black and White

At first glance, the numbers appear concerning. In 2023, the company posted a net loss of USD 6.94 million, continuing a three-year trend of losses. Equity remained negative at USD -23.05 million, and working capital also stood at a negative USD -23.36 million. Sales dropped sharply by 25.9%, from over USD 407 million in 2022 to USD 301.7 million in 2023, while total assets declined slightly to USD 158.89 million.

However, it’s important to note that this isn't a case of sudden collapse. In fact, net losses were reduced by nearly 60% compared to 2022, signaling operational improvements or cost control measures. Owner’s equity also improved by 5.57% year-over-year, while total assets remained stable. In other words, the company is still standing—if not thriving, at least actively fighting to stabilize.

Critics might be quick to conclude financial distress, but the petroleum sector in Vietnam has been deeply affected by global oil price volatility, tightening credit conditions, and regulatory compliance hurdles. For a company of its size and capital base, Dong Do Fuel’s position—while precarious—is not unique and not necessarily indicative of mismanagement.

Governance, Ownership, and Strategic Context

Mr. Le Anh Tuan, the company’s Chairman, is also its majority shareholder with a 60% stake. Other shareholders include Mr. Kieu Cong Thai (30%) and Mr. Nguyen Ngoc Lam (10%). This closely held structure allows for quick decision-making, which is often essential in high-risk sectors like petroleum trading.

In defense of the firm, one must also consider the nature of its market: thin margins, high volume, tight regulation, and fluctuating capital requirements. A single regulatory delay or fuel shipment issue can drastically impact the balance sheet for a given quarter or year. Many fuel traders operate with low equity cushions and rely on rolling credit and trade financing to sustain operations—a practice that became riskier as global credit tightened post-2021.

Beyond the Numbers—Ongoing Operations and Regional Presence

Despite its losses, DONG DO FUEL remains operational, with functioning regional branches, active licensing, and a product portfolio that includes not just petroleum but wholesale trading in beverages, food, electronics, and machinery. It serves as a regional distributor and logistics player for multiple downstream fuel markets in the Mekong Delta.

The relatively small staff size (50 employees) implies a lean organizational structure, potentially allowing for rapid restructuring or pivoting if necessary. This, combined with the company’s continued sales volume (still over USD 300 million annually), makes the situation more nuanced than what raw profit figures might imply.

The Role of Independent Verification

Given the financial ambiguity and opaque shareholder updates common among private fuel traders, businesses working with or evaluating DONG DO FUEL should engage in professional due diligence. This is where VANGUARD BUSINESS INFORMATION LLC (VBI) plays a vital role. VBI’s independent credit evaluations, risk profiling, and financial monitoring services help stakeholders distinguish between firms facing temporary pressures versus systemic risks. In cases like Dong Do Fuel, VBI’s analysis provides context—not just caution.

Final Assessment

DONG DO FUEL IMPORT EXPORT JOINT STOCK COMPANY is clearly navigating a challenging financial period. But it remains active, solvent in terms of asset base, and capable of generating large revenue—even if profitability remains elusive for now. For critics, the financials are a red flag. For defenders, the company is a battle-tested survivor in a volatile and underregulated sector.

The truth likely lies somewhere in between: Dong Do Fuel is not yet a turnaround story—but neither is it a write-off.For any stakeholder, the next step is not to speculate, but to engage with verified data, risk-adjusted insights, and realistic expectations. That’s what VBI is here for.

Legal Profile

English Name:

DONG DO FUEL IMPORT EXPORT JOINT STOCK COMPANY

Vietnamese Name:

CÔNG TY CỔ PHẦN XUẤT NHẬP KHẨU NHIÊN LIỆU ĐÔNG ĐÔ

Short Name:

DONG DO FUEL IMPORT EXPORT JSC

Business ID (TIN):

0311880974

Date of Registration:

16 Jul 2012

Registered Office:

Ho Chi Minh Department of Planning and Investment

Ownership Status:

Privately held

Operation Status:

Active

Contacts

Key Decision Makers:

LE A.T

Address:

85 Hai Ba Trung, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

Phone:

84-28 / 3922 5406 - 3823 2262

Fax:

(84-28) 3823 9466

Branch:

No. 410, Hamlet 6, Vi Tan Commune, Vi Thanh City, Hau Giang Province, Vietnam

Branch:

Xeo Gua Hamlet, My Huong Commune, My Tu District, Soc Trang Province, Vietnam

Branch:

3rd Floor, No. 16, Vo Nguyen Giap Avenue, 586 Residential Area, Phu Thu Ward, Cai Rang District, Can Tho City, Vietnam

Branch:

Hamlet 7, Ha Trach Commune, Bo Trach District, Quang Binh Province, Vietnam

Branch:

Land No. 218, Map No. 36, Hung Phu 1 Residential Area, Hung Phu Ward, Cai Rang District, Can Tho City, Vietnam

Branch:

No. 19, A Mi Doan Street, Tan Lap Ward, Buon Ma Thuot City, Dak Lak Province, Vietnam

Business Sector

Key business lines:

VSIC:

4661 Wholesale of solid, liquid and gaseous fuels and related products

NACE:

46.71 Wholesale of solid, liquid and gaseous fuels and related products

Industry Sales Growth

CAGR (2019 - 2023)

7.31%

YoY (2023)

-7.98%

Companies by industry

Company distribution and propportions

22,319

0.7676%

Key Industry Players

Top 10 companies in wholesale of solid, liquid and gaseous fuels and related products industry

vietnam national petroleum group petrovietnam oil corporation vinacomin - coal import export joint stock company dong thap petroleum trading import export joint stock company vietnam air petrol company limited (skypec) thanh le corporation vinacomin - northern coal trading joint stock company (translated name) area 2 petroleum company - one member limited liability company (translated name) region i petroleum company - one member limited liability company petrolimex aviation fuel joint stock company

Payment History

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Financial Performance

Assets	15.96%
Owner’s Equity	29.92%
Working Capital	85.62%
Net Worth	-52.10%
Sales	-91.71%
Operating income	-64.26%
EBIT	61.09%
Gross Profit Margin	70.98%
Debt to EBITDA	-99.82%

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Specific Questions About DONG DO FUEL IMPORT EXPORT JOINT STOCK COMPANY

When did DONG DO FUEL IMPORT EXPORT JSC start operating?

DONG DO FUEL IMPORT EXPORT JSC was started in 16 Jul 2012

What industry does DONG DO FUEL IMPORT EXPORT JSC operate in?

DONG DO FUEL IMPORT EXPORT JSC is operating in "Wholesale of solid, liquid and gaseous fuels and related products" industry

How can I contact DONG DO FUEL IMPORT EXPORT JSC?

DONG DO FUEL IMPORT EXPORT JSC phone numbers is 84-28 / 3922 5406 - 3823 2262

What adverse news is there about DONG DO FUEL IMPORT EXPORT JSC?

DONG DO FUEL IMPORT EXPORT JSC’s has no negative news

What is stock symbol of DONG DO FUEL IMPORT EXPORT JSC?

DONG DO FUEL IMPORT EXPORT JSC is not listed company

Where is the location of DONG DO FUEL IMPORT EXPORT JSC?

DONG DO FUEL IMPORT EXPORT JSC is located at 85 Hai Ba Trung, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

What is DONG DO FUEL IMPORT EXPORT JSC’s business registration?

DONG DO FUEL IMPORT EXPORT JSC business registration is 0311880974

DONG DO FUEL IMPORT EXPORT JOINT STOCK COMPANY

DONG DO FUEL IMPORT EXPORT JOINT STOCK COMPANY

DONG DO FUEL IMPORT EXPORT JOINT STOCK COMPANY

Summary

DONG DO FUEL IMPORT EXPORT JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN XUẤT NHẬP KHẨU NHIÊN LIỆU ĐÔNG ĐÔ): A Complex Case in Vietnam’s Petroleum Trade—But One Worth Understanding

The Financial Picture—Not Just Black and White

Governance, Ownership, and Strategic Context