Agribank Saigon Branch has just announced the selection of an organization to auction the unpaid debt of Nam Song Hau Petroleum Investment and Trading Joint Stock Company (NSH Petro, code: PSH), headquartered in Chau Thanh commune, Can Tho city.

NSH Petro's debt at Agribank Saigon was formed under a credit contract dated April 26, 2023.

The debt value (as of August 11, 2025) is more than VND 1,458 billion. Of which, the principal balance is about VND 1,302 billion, the interest balance is up to VND 156.8 billion.

Agribank Saigon plans to offer a starting price of VND1,458 billion.

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A petrol station of NSH Petro. Photo: NSH Petro

NSH Petro was established in 2012 with a charter capital of VND1,262 billion. The company operates in the field of wholesaling solid, liquid, gaseous fuels and related products; producing biofuel, gasoline, oil, lubricants, and petrochemical products.

The legal representative is Mr. Mai Van Huy, Chairman of the Board of Directors. Mr. Huy is holding 42.64% of shares at NSH Petro.

Due to prolonged losses, PSH shares have been suspended from trading on the HSX since March 12, 2025.

Recently, the People's Court of Can Tho City also decided not to open bankruptcy proceedings against NSH Petro after receiving a request to open bankruptcy proceedings from Viet Loan Petroleum Company Limited (Phu Khoi Hamlet, Thanh Hoa Commune, Can Tho City) against NSH Petro Company.

Accordingly, on July 9, 2025, Can Tho City People's Court received a request to withdraw the request to open bankruptcy proceedings from Viet Loan Petroleum with NSH Petro Company because the two enterprises had negotiated with each other on debt payment. Therefore, the court confirmed that NSH Petro has not lost its ability to pay.

According to the financial report for the second quarter of 2025, NSH Petro recorded a pre-tax loss of VND 305.7 billion. Liabilities were at VND 9,800 billion, of which short-term debt was nearly VND 8,000 billion.

Source: https://vietnamnet.vn/ngan-hang-ban-khoan-no-khung-cua-dai-gia-xang-dau-mien-tay-2440844.html