On February 9, representatives of the Thiên Minh Đức Group Joint Stock Company (in Vinh City, Nghệ An Province) reported that the company has completed the payment of over 466 billion VND in debt to the Petroleum Stabilization Fund.
Headquarters of Thiên Minh Đức Group JSC in Vinh City, Nghệ An Province.
According to the conclusion of the Government Inspectorate, in the past time, many petroleum business owners still owe environmental protection taxes and abuse the price stabilization fund for wrong purposes.
Specifically, according to the inspection conclusions, 6/15 petroleum business owners investigated owe over 3,219 billion VND in environmental protection taxes. Up to 7/15 business owners have misused the price stabilization fund for wrong purposes, not transferring the money to the fund’s account but leaving it in the company’s payment account, with a total amount of over 7,927 billion VND. Thiên Minh Đức Group JSC has misused the stabilization fund, not transferring it to the fund’s account but leaving it in the company’s payment account with a total amount of over 466 billion VND.
The Ministry of Finance subsequently proposed that the Ministry of Industry and Trade determine the balance of the petroleum price stabilization fund, coordinate with the State Bank, and commercial banks where business owners open the fund’s account to recover the fund to the state budget before terminating the role of business owners.
As of February 9, Thiên Minh Đức Group JSC has fully paid the remaining debt of over 466 billion VND into the petroleum price stabilization fund accounts established at various banks.
Thiên Minh Đức’s largest petroleum warehouse in North Central Region located in Nghi Thiết Commune (Nghi Lộc, Nghệ An Province).
Accordingly, on February 7, Vietcombank issued a confirmation letter stating that Thiên Minh Đức Group JSC has an account with a balance of over 176.7 billion VND. BIDV also confirmed that the company has a balance of over 290 billion VND. These are the two banks where Thiên Minh Đức Group JSC has opened its petroleum price stabilization fund account.
It is known that Thiên Minh Đức Group was established in 2001. After more than 23 years of establishment and operation, the company has expanded its ecosystem with many companies and branches operating in various fields such as petroleum, liquefied gas, real estate, paper manufacturing, packaging, logistics, restaurants, hotels, amusement parks, entertainment, etc. As of September 2023, the company has a registered capital of 2,022 billion VND.
