In the inspection conclusion No. 1061 on compliance with policies and laws in state management of petroleum, the Government Inspectorate discovered that from January 1, 2017 to June 30, 2022, 8 key petroleum traders, including Hai Linh Company Limited (headquartered in Viet Tri city, Phu Tho) had not fully registered the petroleum distribution system periodically and when there were changes with the Ministry of Industry and Trade as prescribed.
Hai Linh Company Limited is also in the group of 7 key petroleum traders who used the Petroleum Price Stabilization Fund for the wrong purpose of price stabilization, not transferring it but leaving it in the business's payment account regularly, for many periods before returning it to the Petroleum Price Stabilization Fund with a total amount of over 7,927 billion VND.
In particular, the Government Inspectorate stated that Hai Linh Company Limited transferred the amount of money set aside and spent into the Price Stabilization Fund account, but then transferred it to the enterprise's payment account for use with a total amount of over VND 2,551 billion (accumulated data of the periods).
Therefore, the inspection agency has recommended recovering over 2,551 billion VND of Hai Linh Company Limited used for the above wrong purpose, and transferring it to the Petroleum Price Stabilization Fund.
Hai Linh Company was established in 2002 by the tycoon couple Le Van Tam (who owns a magnificent castle in Viet Tri city, Phu Tho province). After more than 20 years of establishment, Hai Linh Company Limited has become one of the largest private enterprises in the country operating in the fields of petroleum and logistics services.
As of the end of 2021, the company's charter capital reached VND 2,050 billion, of which Mr. Le Van Tam owned 68.67% of the shares; the remaining shares were held by Ms. Nguyen Thi Hai (31.33%). Mr. Tam is also the Chairman of the Board of Directors and the legal representative of the company.
In 2022, Hai Linh Company Limited ranked 68th out of the 500 largest enterprises in Vietnam and ranked 33rd out of the 500 largest private enterprises in Vietnam.
In the petroleum sector, Hai Linh Company Limited is said to be second only to the Vietnam National Petroleum Group, and above famous petroleum enterprises such as Thien Minh Duc Group Joint Stock Company (headquartered in Nghe An, recently concluded by the Government Inspectorate for many violations and transferred its records to the Ministry of Public Security), Military Petrochemical Joint Stock Company (MIPEC),...
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