The company was founded in 2008, with the largest shareholder (44%) being Ho Chi Minh City Petroleum Single-Member Limited Liability Company - one of the leading gasoline, oil and gas producers and distributors in Vietnam (also known as Saigon Petro – a state-owned enterprise, legally represented by Ho Chi Minh City Committee Office); followed by AP (Vietnam) Holdings Pte Ltd - one of the biggest lubricant producing and trading companies in Singapore, and Tram Anh Manufacturing - Trading - Industry Co., Ltd.