The company's leadership has announced a collaboration with VinFast to assess petrol stations for the potential installation of electric vehicle (EV) charging stations.

If the identified locations meet the required standards, the company intends to proceed with the investment.

In the context of a correction in the Vietnamese stock market, shares of Saigon Fuel Joint Stock Company (SFC) have reached the ceiling price for the second consecutive session, trading at VND 23,950 (US$ 0.94) per share. Since the beginning of the year, SFC's share price has risen by approximately 17%.

Despite this price increase, the liquidity of SFC shares remains low. Only a few hundred shares were traded during the session on 30 December, in contrast to the previous session, where 3,100 shares were exchanged.

The recent rise in SFC shares is attributed to the company's announcement of its partnership with VinFast to evaluate petrol stations for charging station installations. The company plans to invest in locations that meet the required standards.

During the 2024 Annual General Meeting, the leadership emphasised that petrol stations must obtain fire safety approval prior to the installation of EV charging stations.

Additionally, such installations would require space and could impact sales operations and overall business efficiency, particularly at smaller locations. The chairperson stated, "The company will focus on partnerships at larger locations that meet fire safety requirements."

Currently, SFC operates 18 petrol stations.

Saigon Fuel is not the only oil company in Vietnam engaging in the installation of VinFast charging stations. Petrolimex and PV Oil have already established hundreds of charging stations at their petrol stations nationwide.

Established in 1975 as a fuel company, Saigon Fuel engages in the trading of petrol, oil, lubricants, LPG gas, real estate, and financial investments. The company was privatised in 2000 and listed on the Ho Chi Minh Stock Exchange (HoSE) in 2004 under the ticker SFC. Despite the stock's low liquidity, it currently trades at approximately VND 22,000 per share, representing a market capitalisation of around VND 250 billion.

For the fiscal year 2024-2025, the company aims to achieve a total output of 89 million litres of fuel and a pre-tax profit of VND 26.4 billion. The minimum dividend rate is projected at 12% of charter capital, with the dividend for 2024 set at 15%, amounting to nearly VND 17 billion.