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.

Saigon Petro, founded in 1986, is one of Vietnam’s leading corporations in oil & gas trade, import and export.
AP OIL International Limited, formerly known as Huan Chew Oil Trading Pte Ltd., was founded in 1975.
Tram Anh Company, founded in 1996, is a long-standing business with extensive experience in project management, production and trading of lubricants, chemicals, additives and other oil-based products.
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