(NLDO)- This enterprise is one of the three units occupying the largest market share of civil gas in the country.
Recently, An Pha Petroleum Group Joint Stock Company (Anpha Petrol, stock code ASP) announced unusual information to the State Securities Commission and Ho Chi Minh City Stock Exchange (HOSE).
Specifically, Anpha Petrol said that on February 6, the company received the decision to implement security measure No. 17/2025 dated February 4, 2025 of the Ho Chi Minh City People's Court on freezing the secured assets in the company's account at ACB Bank, South Saigon branch.
Notably, this decision is to serve the company's lawsuit against the former manager, related to the management operation. This person's name was not announced.
According to the 2024 corporate governance report, the "hot seat" at Anpha Petrol has many major fluctuations.
Typically, in June 2024, Mr. Takehiko Kawamoto left the chairmanship and was replaced by Mr. Tomohiko Kawamoto.
In addition, four other members of the Board of Directors of Anpha Petrol, Mr. Tran Minh Loan, Yasuyoshi Kasahara, Hosokoji Yu, and Shimbori Toshiyuki, were also dismissed and later replaced by others, all of whom are foreigners.
Changes in Anpha Petrol's leadership in the past year
Anpha Petrol, formerly Gia Dinh Service - Trading Company Limited (now Gia Dinh Gas Company Limited), was established in April 1999.
In April 2004, due to development needs, An Pha SG Petroleum Company (now Anpha Petrol) was established, with the purpose of investing and managing the input infrastructure system, as well as the LPG storage and transportation system for strategic partners, and civil gas trading companies under the brand name Gia Dinh Gas.
According to the company website, Anpha Petrol is in the top 3 units with the largest market share of civil gas nationwide, and is one of the 4 leading gas trading companies in Vietnam.
With 175 stores distributed nationwide and a system of filling plants and warehouses in both the North and South, serving more than 2 million household and business customers.
The only gas company with a complete system from import, transportation, storage to large-scale wholesale and retail distribution nationwide...
However, the business situation of this enterprise is not optimistic. The consolidated financial report for 2024 shows that Anpha Petrol's net revenue recorded 3,306 billion VND, down approximately 12% compared to the previous year, down 11% compared to last year.
After deducting expenses, profit after tax was only 3.8 billion VND, down nearly 12% over the same period.
Explaining the reasons for the decrease in profits, Anpha Petrol explained that it was due to a decrease in output and sales revenue; a decrease in interest on short-term financial investments; a decrease in income from transferring business segments at subsidiaries...
By the end of 2024, Anpha Petrol's cash and cash equivalents portfolio by the end of 2024 decreased by nearly 13% compared to the beginning of the year, the value was only 189.4 billion VND, of which cash was 2.3 billion VND (accounting for only 1.2%), demand bank deposits accounted for the largest proportion, 67%, at 127 billion VND.
Meanwhile, the debt payable by the end of 2024 of the gas industry giant is 1,285 billion VND, although it has decreased by 32% compared to the beginning of the year, but compared to the owner's equity (302 billion VND), it is more than 4 times higher, showing that the business is facing many financial difficulties. Accumulated loss in 2024 is currently nearly 80 billion VND.
On the stock market, Anpha Petrol's ASP shares were kept under warning status due to negative undistributed profit after tax and the auditing organization had an exception opinion on the audited semi-annual financial report for 2024.
Closing the trading session on February 7, this stock was priced at VND 4,160/share, up slightly by 1.7% compared to the previous session and up more than 5% compared to the beginning of 2025.
Source: https://nld.com.vn/mot-ong-lon-nganh-gas-phong-toa-tai-khoan-ngan-hang-de-khoi-kien-sep-cu-196250208111553082.htm
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