Sign up | Log in



Home>>Daily News>>Vietnam>>Energy>>Van Phong petroleum bonded warehouse expects no losses in 2018

NEWS UPDATES Asean Affairs   December 27,  2017  

Van Phong petroleum bonded warehouse expects no losses in 2018

The Van Phong petroleum bonded warehouse in Khánh Hòa Province expects to not have accumulated losses, returning to normal business in 2018, according to an official of the National Petroleum Group (Petrolimex).

Petrolimex chief accountant Luu Van Tuyen said in 2017, Van Phong petroleum bonded warehouse achieved pre-tax profit of VNĐ160 billion. However, according to the monitoring report of Petrolimex, the warehouse has currently experienced accumulated losses of some VNĐ120-130 billion after minusing net profit of 2017.

Tuyen said with the positive prospects for the warehouse business next year, it expects to not incur accumulated losses in 2018.

Tuyen said at present, Petrolimex has increased its shares at the Vân Phong Petroleum Bonded Warehouse Joint Stock Company to 85 per cent from 51.4 per cent after Petrolimex Singapore Pte Ltd transferred its capital amounting to $14 million at the warehouse company to Petrolimex.

The Ministry of Industry and Trade approved this transaction under current regulations.

The Van Phong petroleum bonded warehouse began operations in June 2012 with total investment capital of $125 million and total capacity of 505,000cu.m.

However, according to Petrolimex, in 2012 alone, Van Phong Petroleum Bonded Joint Stock Company suffered a loss of VNĐ170 billion. Since it was a new warehouse, the leasing did not reach the designed capacity. Leased capacity reached 20 per cent in 2013 and 43 per cent in the first half of 2014.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

  Today's  Stories                         December November  27,  2017
• FDI in VN rose 44% to hit new record in 2017 Subcribe: Asean Affairs Global Magazine
• BI estimates 2017 GDP growth at 5.1%, helped by exports, investment Subsribe Now !
Van Phong petroleum bonded warehouse expects no losses in 2018
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

Philippine financial markets take two-day Christmas break
PVEP posts VND3.5 trillion profit
Asean Analysis                  October 27,  2017
• Asean Analysis October 27, 2017
Southeast Asia from Scott Circle: Indonesian Presidential Politics Begins to Heat Up 18 Months before Elections
Advertise Your Brand

Asean Stock Watch   December 26 ,  2017

• Asean Stock Watch-December 26, 2017
The Biweekly Update
• The Biweekly Update  October 27, 2017

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2021 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand