On April 26
th 2019, PetroVietnam General Services Joint Stock Corporation successfully held the 2019 Annual General Shareholders Meeting.
The meeting was honored to welcome representatives of Vietnam Oil and Gas Group, Ho Chi Minh City Stock Exchange and representative shareholders, accounting for 64.56% of the total voting shares.
According to the report of the Board of Directors and Board of Management presented to Shareholders, in 2018, Petrosetco achieved 11,092 billion dongs of net revenue, earning before tax was 183 billion dongs, exceeding the plan respectively 23% and 2%. The dividend rate is 10%. At the meeting, Petrosetco’s Chairman - Mr. Phung Tuan Ha announced “2018 was still a difficult and challenging year for Petrosetco however with effort and striving, Petrosetco had successfully completed the targets set in the 2018 shareholder meeting”.
During the meeting, many shareholders raised questions about stock, liquidity and PetroVietnam's divestment schedule at Petrosetco and all questions were answered, explaining in specific details.
In 2019, PET set a target of 9,550 billion dongs in revenue, earning before and after tax of 180 billion dongs and 135 billion dongs, expected a dividend of 10%. This plan poses a inverse ratio of 2019 results compared to performance results in 2018 in which revenue decreases while earning after tax increases.
With the goal of expanding business activities, diversifying forms of service provision in order to take full advantage of cooperation with partners in many fields, Petrosetco also decided to add more business line such as legal consultancy, trading pesticide fertilizers and other chemicals...
At the end of the meeting, all shareholders agreed to approve all agendas in the Statements submitted by BOM of Petrosetco.