Tung Lam Company Limited (Vietnam)

The subject operates in the field of manufacturing ethanol E100 and trading tea, cassava, chemicals, and fine arts handicraft products. It is owned by Mr. Vu Kien Chinh's family under the charter capital of VND 500 billion. Besides the head office in Ha Noi City, the subject has two subsidiaries in Dong Nai, which specializes in Ethanol E100, and Hoa Binh Province, which specializes in growing tea.Regrettably, we could not contact the subject during the investigation. We visited the subject's head office, at No. 58, Ngoc Ha Street, Doi Can Ward, Ba Dinh District, Ha Noi City, Vietnam but there is nobody working there. Its door was closed. According to a resident, the subject has moved to another address on Doi Can Street but she did not know the detailed address. We also called for some staff who have contacted in the past but most of them stopped working for the company for a long time.Except for 2021, the subject's operation was considered inefficient due to continuous losses in 2018 - 2020 and 2022 although sales were up to trillion dongs. Its self-financing capacity was weak, so it largely depended on liabilities, especially debts. We advise that periodic monitoring is needed for the subject's transactions.