MAI LINH GROUP CORPORATION

MAI LINH GROUP CORPORATION (CÔNG TY CỔ PHẦN TẬP ĐOÀN MAI LINH) is a publicly held transportation enterprise operating in Vietnam’s urban and suburban passenger transport sector. Established in July 2018, the corporation is a recognizable brand in Vietnam’s taxi and land transport industry. 

Legal Status and Corporate Structure

MAI LINH GROUP CORPORATION is a joint stock company registered under Business ID and Tax Identification Number 0315161593. The company is publicly traded on the OTC market under the ticker MLG. Charter capital and paid-up capital are both approximately USD 51.22 million. The corporation employs around 10,939 workers, reflecting its large operational footprint in the passenger transportation sector. The registered address is No. 64, Hai Ba Trung Street, Ho Chi Minh City, with multiple branches and representative offices across southern Vietnam.

Management and Ownership

The Chairman is Ho H., a long-standing figure associated with the Mai Linh brand. The Director is Pham M. S., supported by Deputy Director Mai H. T. H. Shareholding structure shows diversified ownership: other shareholders collectively hold 48.2%, Ho Huy Investment Company Limited holds 44.5%, Ho H. personally holds 5.3%, and Tran T. H. H. holds 2%.

Financial Performance

From 2022 to 2024, the corporation maintained a relatively stable asset base while revenue and profit declined.

Total assets remained at approximately USD 132.7 million in 2024, nearly unchanged year over year. Owner’s equity improved slightly to USD 8.82 million.

Revenue decreased from USD 44.24 million in 2022 to USD 35.98 million in 2024, reflecting a contraction in transport service demand or competitive pressure. Profit declined sharply to approximately USD 151,653 in 2024, a significant drop from prior years.

Working capital remained negative at approximately USD -39.28 million, indicating ongoing liquidity pressure and reliance on external financing or operational restructuring.

Risk Assessment and Outlook

MAI LINH operates in a highly competitive transportation market, facing pressure from ride-hailing platforms, fluctuating fuel costs, and shifting urban mobility trends.

While the company maintains a broad brand presence and large workforce, shrinking revenue and thin profitability signal structural challenges. Strengthening operational efficiency, digital transformation, and debt management will be key to improving financial sustainability.

For comprehensive credit evaluation, litigation review, and financial ratio analysis, detailed intelligence reports are available through VNBIS (Vanguard Business Information LLC), a leading provider of business intelligence and risk assessment services covering companies across Vietnam and worldwide.