PTSC MECHANICAL AND CONSTRUCTION: Steady Performer in Oil & Gas Services, but Shrinking Asset Base Raises Questions

PTSC MECHANICAL AND CONSTRUCTION LIMITED COMPANY (Vietnamese: CÔNG TY TNHH MTV DỊCH VỤ CƠ KHÍ HÀNG HẢI PTSC), known as PTSC M&C, is a wholly owned subsidiary of PetroVietnam Technical Services Corporation (PTSC). Headquartered in Vung Tau City, the company plays a vital role in Vietnam’s industrial and energy infrastructure by offering full-spectrum EPCIC (Engineering, Procurement, Construction, Installation, and Commissioning) services for both upstream and downstream oil and gas projects, as well as renewable energy developments.

With a registered charter capital of approximately USD 25.8 million and a workforce of around 2,000 employees, PTSC MECHANICAL AND CONSTRUCTION LIMITED COMPANY remains an integral part of Vietnam’s petroleum engineering and construction ecosystem. The company also engages in supporting services such as industrial equipment installation, shipbuilding, metal structure manufacturing, and energy infrastructure development.

Financially, the company ended 2023 with total assets valued at USD 143.2 million—down more than 21% from the previous year. While its sales revenue climbed slightly to USD 269.45 million, this marginal 3.11% growth comes in contrast to the sharper contraction of its asset base. Owner’s equity also declined by over 10% year-on-year, ending at USD 46.17 million. Net profit, however, remained stable, with a modest 3.5% growth to USD 9.82 million. This balance of flat profits and shrinking assets could reflect internal restructuring, amortization of long-term equipment, or broader cost-control strategies.

Despite a decline in total assets, PTSC MECHANICAL AND CONSTRUCTION LIMITED COMPANY maintained strong working capital at USD 73.74 million, signaling sufficient liquidity to cover short-term obligations. The company’s continued profitability suggests it has retained operational stability, but the dip in capital structure invites closer monitoring—especially for suppliers, subcontractors, or project partners operating on credit or performance-based contracts.

At VANGUARD BUSINESS INFORMATION LLC (VBI), we assist clients with independent company verification, credit risk analysis, litigation checks, and full-scale business intelligence reporting for firms like PTSC M&C. Whether you're planning to enter into a partnership, supply agreement, or investment with a major player in Vietnam’s energy and industrial sector, VBI can help you evaluate financial health, legal compliance, and operational risk before making decisions.

If you're interested in learning more about PTSC MECHANICAL AND CONSTRUCTION LIMITED COMPANY or other state-affiliated service providers in Vietnam’s oil and gas sector, visit https://www.vnbis.com for access to tailored business reports and due diligence solutions.