NGASON SERVICES AND TRADING JOINT STOCK COMPANY

NGASON SERVICES AND TRADING JOINT STOCK COMPANY (Vietnamese: CÔNG TY CỔ PHẦN THƯƠNG MẠI VÀ DỊCH VỤ NGA SƠN, short name: VHJ) is an active privately held joint stock companyoperating in Vietnam’s infrastructure and construction sector. The company is legally registered under Business ID (TIN): 3000409768 and is headquartered at Minh Thuan Residential Quarter, Duc Thuan Ward, Hong Linh Town, Ha Tinh Province, Vietnam.

Established as a regional contractor, NGASON SERVICES AND TRADING JOINT STOCK COMPANY focuses primarily on the construction of water supply and drainage works, while also undertaking civil, transportation, irrigation, and hydraulic projects. Its registered business scope is broad, covering road and railway construction, electrical works, quarrying of stone and aggregates, concrete manufacturing, freight transport, engineering consultancy, and equipment leasing, allowing the company to participate across multiple stages of infrastructure development.

From a governance perspective, the company is led by LUU T. D., serving as Chairwoman, with NGUYEN H. S. acting as Director. Ownership is highly concentrated, reflecting a closely controlled domestic enterprise where strategic decisions and operational execution are tightly aligned at the shareholder level. The company employs around 90 staff, typical for a regional infrastructure contractor relying on project-based labor deployment.

Financially, NGASON SERVICES AND TRADING JOINT STOCK COMPANY records total assets of USD 71.81 million and sales of USD 84.57 million, indicating a sharp expansion in project volume. Equity stands at USD 5.34 million, while working capital is recorded at USD -14.61 million. The company reports a net loss of USD 1.01 million, highlighting significant liquidity pressure and earnings volatility despite strong topline growth.

From a risk and due-diligence standpoint, this profile reflects a high-growth construction contractor with thin capital buffers. Rapid revenue expansion alongside negative working capital raises important questions around cash-flow timing, project financing, advance payments, and debt structure. Counterparties should therefore assess contract quality, receivables concentration, and funding arrangements before committing to long-term exposure.

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