NGOC MAI TRAVEL TRADING SERVICE COMPANY LIMITED

NGOC MAI TRAVEL TRADING SERVICE COMPANY LIMITED (CÔNG TY TNHH THƯƠNG MẠI DỊCH VỤ DU LỊCH NGỌC MAI) is a Vietnam-based travel service enterprise operating primarily in the tourism and travel agency segment, with its head office located in Tan Binh District, Ho Chi Minh City. Since its establishment, the company has focused on organizing and providing travel-related services, positioning itself within Vietnam’s highly competitive and cyclical tourism market.

The company operates as a limited liability company with full domestic ownership, under the direct management of a Vietnamese Director who also serves as the sole shareholder. This ownership and governance structure allows for fast decision-making and operational flexibility, which is particularly important in the travel industry where demand patterns can shift rapidly due to seasonality, economic conditions, and external shocks.

From a business perspective, Ngoc Mai Travel’s registered and actual operations are concentrated entirely on travel agency activities. This narrow operational focus enables the company to specialize in tour organization, ticketing, and related travel services, but it also increases exposure to sector-specific risks such as fluctuations in tourist arrivals, changes in airline pricing, and shifts in consumer travel behavior.

Financially, the company has experienced very rapid top-line expansion, with sales growing sharply over a short period, reflecting a strong rebound in travel demand and an ability to scale bookings quickly. Total assets have increased significantly as well, indicating expanded operational scope and higher transaction volumes. However, profitability remains volatile. After returning to profit briefly, the company recorded a net loss again, while equity declined slightly, suggesting pressure on margins and cost control amid intense competition.

Working capital remains positive, indicating that the company is currently able to meet short-term obligations, but the relatively thin equity base compared to revenue highlights a leverage-light yet margin-sensitive business model. This is common among travel agencies, where large booking volumes do not always translate into stable profits, especially when commissions are compressed or operating expenses rise.

With more than eight years of operating history, Ngoc Mai Travel represents an established but financially sensitive player in Vietnam’s travel services sector. For partners, suppliers, and counterparties, the key risk considerations lie in earnings stability, cash-flow management, and resilience during downturns in tourism demand. Ongoing business verification and periodic financial review are therefore essential when engaging with the company in credit-based or long-term commercial relationships.