DONGTHAP FUEL JOINT - STOCK COMPANY

DONGTHAP FUEL JOINT - STOCK COMPANY (CÔNG TY CP NHIÊN LIỆU ĐỒNG THÁP), tax code 1400621758, is a regional energy wholesaler headquartered at No. 328, National Highway 30, My Phu Ward, Cao Lanh City, Dong Thap Province, Vietnam. Operating under the short name DFC, the company has been active since October 2007 and plays a prominent role in southern Vietnam’s petroleum distribution network.

DFC specializes in the wholesale of solid, liquid, and gaseous fuels and related products. It also holds registered business licenses in road and inland freight transport, construction, insurance agency services, and automotive fuel retail. The diversity of operations reflects a typical multi-sector model often seen in provincial fuel enterprises in Vietnam. The company employs around 500 people and operates multiple branches within Dong Thap Province.

Despite stable operations, the financial performance of DFC remains narrow in terms of profitability. In 2024, it generated USD 142.55 million in revenue, reflecting a mild increase of 1.53% over the previous year. However, total assets declined by 8.6%, settling at USD 13.19 million, while working capital remained in deficit at –USD 3.46 million, raising concerns from a risk management perspective.

The company posted a modest net profit of USD 250,971 in 2024, which, though representing a 51.85% increase from the prior year, still indicates extremely thin profit margins for its revenue scale. Owner’s equity saw only a marginal increase to USD 5.53 million, while its net worth is reported at –USD 1.02 million, indicating underlying capital structure fragility.

From a governance and ownership perspective, Mr. Nguyen T. T. serves as Director. The majority shareholder is Dong Thap Petroleum Trading Import Export Joint Stock Company, holding 51.08%, while the remainder is held by individual and private company investors, mostly located in Dong Thap and neighboring provinces. It is unclear whether this structure has evolved since the company’s founding, as the current registration documents do not confirm updates in shareholder composition.

The company's consistent revenue and long-standing operations offer stability for business partners, credit analysts, and business information providers. However, the persistent low profitability and negative net worth highlight financial pressure, particularly important for suppliers considering trade credit or investors assessing the company's capital health. These characteristics should be closely evaluated using verified Vietnam private financial data before engagement.

In summary, DONGTHAP FUEL JOINT-STOCK COMPANY remains a functional and regionally important enterprise within Vietnam’s petroleum trade. Yet its fragile financial margins and weak capital base limit scalability and heighten credit risk. Long-term sustainability may depend on capital restructuring or strategic consolidation with stronger sector players.