On October 20th, the Board of Directors (BOD) of Nam Song Hau Petroleum Trading and Investment Joint Stock Company (NSH Petro; stock code: PSH) issued an unusual disclosure to the Vietnam Stock Exchange regarding significant changes in the company’s leadership.
NSH Petro dismisses Australian CEO.
The BOD of NSH Petro approved the dismissal of Mr. Ranjit Prithviraj Thambyrajah (Australian national, legal representative) from his positions as Vice Chairman of the BOD and CEO.
The reason for this decision is that Mr. Ranjit Prithviraj Thambyrajah provided false information regarding a loan agreement between NSH Petro and Berhero Pty Limited (trading as Acuity Funding) for a first tranche of $103 million. He claimed the funds were intended for tax payments and requested to retain his positions to manage the funds in accordance with the short-term loan agreement.
Additionally, the BOD of NSH Petro suspended Mr. Nguyen Viet Anh, Deputy CEO in charge of finance, following his resignation letter dated June 3, 2025. Ms. Pham Thi Ngoc Thuy, a member of the Supervisory Board, was also suspended based on her resignation letter dated May 22, 2025. These actions will be reported at the next shareholders’ meeting.
In the interim, NSH Petro has appointed Mr. Mai Van Huy, Chairman of the BOD and legal representative, to oversee the company’s operations until a new CEO is appointed.
Previously, on October 15th, the Investigation Police Agency of the Ministry of Public Security issued an arrest warrant for Mr. Ranjit Prithviraj Thambyrajah (born in 1960, Australian national), CEO of NSH Petro.
Mr. Ranjit Prithviraj Thambyrajah is under investigation for providing false information about Berhero Pty Limited’s ability to provide loans ranging from hundreds of millions to billions of USD to companies in Vietnam. Subsequently, he embezzled fees from Nam Song Hau Petroleum Company, totaling over $4.9 million.
Established in 2012, NSH Petro is headquartered in Chau Thanh District, former Hau Giang Province (now Chau Thanh Commune, Can Tho City). The company’s core business includes the import, export, and trading of petroleum, oil refining, LPG, and gas, with a retail network of gas stations across the Mekong Delta region.
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