VIETNAM STAR AUTOMOBILE LIMITED (Công Ty TNHH Ô Tô Ngôi Sao Việt Nam) is a foreign-invested limited liability company operating under Business ID 0303313001. The company was founded in April 2007 and is fully owned by Hap Seng Star (Vietnam) Sdn. Bhd., a Malaysian entity. Its head office is located in the Tan Thuan Export Processing Zone, District 7, Ho Chi Minh City, with multiple branches in Hanoi and across southern Vietnam. The General Director is John L. W., of South African nationality.

The company specializes in the wholesale of motor vehicles, particularly luxury cars, and has long been associated with premium automotive brands such as Mercedes-Benz. However, recent financial figures suggest Vietnam Star is facing significant headwinds.

In 2024, the company’s total sales fell to USD 139.88 million, down 17.62% compared to 2023 and nearly 50% below its 2022 revenue. Even more concerning, the firm continued to operate at a loss, recording a negative net profit of USD 5.57 million for the year. This follows a loss of over USD 5.6 million in 2023, and reverses the profitable position it held in 2022 with over USD 8.85 million in earnings.

Total assets also declined sharply, from USD 96.17 million in 2022 to just over USD 50.36 million in 2024—a 48% drop in two years. Owner’s equity contracted from USD 28 million in 2022 to under USD 17 million in 2024. This pattern reflects not only declining performance but possibly also asset disposals or capital erosion.

Working capital in 2024 remained positive at USD 2.45 million, but the declining equity base and persistent losses suggest the company may be under financial pressure. With a workforce of 335 and ongoing operations, Vietnam Star continues to hold market presence, but the current figures raise critical concerns about long-term profitability, liquidity, and sustainability.

For partners, suppliers, or stakeholders, it is essential to understand that while Vietnam Star still operates in Vietnam’s automotive sector, its recent financial trend indicates structural challenges that may not be resolved quickly. Any engagement should be carefully evaluated in light of these declining indicators.