Nam Song Hau Petroleum was buried under massive debt
Nam Song Hau Petroleum Joint Stock Company faced severe financial distress. The company carried a debt burden of over VND 6.9 trillion. Its total liabilities reached nearly VND 9.96 trillion by Q1 2025, accounting for over 94% of total assets. The company also faced delisting from HoSE due to its failure to disclose the 2024 audited financial report. It recorded a record loss of VND 790 billion in 2024 and accumulated losses of VND 674 billion by March 31, 2025.
Nam Song Hau Petroleum Joint Stock Company faced severe financial distress. The company carried a debt burden of over VND 6.9 trillion. Its total liabilities reached nearly VND 9.96 trillion by Q1 2025, accounting for over 94% of total assets. The company also faced delisting from HoSE due to its failure to disclose the 2024 audited financial report. It recorded a record loss of VND 790 billion in 2024 and accumulated losses of VND 674 billion by March 31, 2025.
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