Wednesday, July 18, 2018 11:55:50 AM - Markets open
VN-INDEX 933.54 +12.27/+1.33%
HNX-INDEX 105.89 +1.06/+1.01%
UPCOM-INDEX 49.93 +0.51/+1.02%
BSR first shareholders’ meeting - 6/15/2018 9:40:11 AM
 (0 ratings. You must sign in to rate.)
Bình Sơn Refining and Petrochemical Co Ltd (BSR) will hold its first shareholders’ meeting on June 21 in Quảng Ngãi City - five months since its initial public offering (IPO) at the beginning of the year.
The meeting is expected to endorse the company’s post-IPO important issues such as transforming into a joint stock company model, charter capital, corporate governance regulations, management board members and 2018 business targets.
BSR’s charter capital will be more than VNĐ31 trillion (US$1.36 billion) at the time of the shareholders’ meeting, equivalent to more than 3.1 billion shares.
After changing into a joint stock company, PetroVietnam will gradually decrease its holdings in BSR in comply with the Government’s direction.
In the January IPO, BSR sold nearly 242 million shares, equivalent to a 7.79 per cent capital, to the public, earning the State budget about VNĐ5.5 trillion. It marked Việt Nam’s largest IPO this year, valuing the company at $2 billion.
According to Trần Ngọc Nguyên, BSR general director, market demand for refined products tends to decline in many countries, while petrochemicals market demand continues to rise.
BSR hopes to seek foreign strategic investors to help the company develop petrochemicals business, as well as increase its product quality and competitiveness.
BSR plans to sell a 49-per-cent stake to strategic investors after the IPO.
As of end-March, Petrolimex and Indial Oil Corp have filed to be BSR’s strategic investors while others such as Pertamina (Indonesia) and Bangchak Corporation Public Co Ltd (Thailand) are considering.  
First-half business results
The operator of $3 billion Dung Quất oil refinery has targeted total sales of VNĐ78.1 trillion ($3.5 billion) for the whole year, of which its first-half revenue is estimated at VNĐ55.36 trillion ($2.4 billion), equivalent to 70.9 per cent of the yearly goal and up 42.9 per cent against the first-haft target.
Its net profit is expected to reach VNĐ2.95 trillion ($129 million) by the end of June, exceeding the six-month target by 70.7 per cent and completing 84.7 per cent of the target set for the whole year.
With this result, BSR continues to be the second largest profitable company in PetroVietnam (after PV Gas), contributing 30 per cent of PetroVietnam’s total profits.
Its total output will likely reach 3.6 million tonnes in the first half, equivalent to 56.6 per cent of the yearly goal of 6.3 million tonnes. Its sales volume is expected at 3.6 million tonnes, completing 57.2 per cent of the yearly target.
According to Nguyên, lower crude oil consumption and production optimisation helped the company reduce cost and increase profit.
In the next six months, Nguyên said BSR aimed to produce and consume more than 3.18 million tonnes of products and earn after-tax profit of VNĐ1.75 trillion. — VNS
Read original article here
Newer News
17/07 ACV plans to expand Tuy Hoa airport in Phu Yen province
17/07 NLG: Nam Long corporates with Japanese Nishi Nippon Railroad in $306.5 million project
11/07 FLC: Vietnamese Government approves establishment of Bamboo Airways
11/07 TPB: IFC arranges $100m loan for TPBank to promote digital financial services to MSMEs
10/07 BSR changes to joint stock model
06/07 VNM: Vinamilk’s products present in 43 countries
03/07 Masan Consumer inks strategic partnership with South Korean meat producer
02/07 HPG: Hoa Phat Dung Quat Steel JSC improves administration capacity
28/06 VCB: Vietcombank to apply Basel II next month
28/06 NLG: Nam Long kicks off Waterpoint township in Long An province
Older News
13/06 VIC: Vingroup announces plan to produce smartphones
07/06 VHM: Berjaya Land sells finance centre to Vinhomes
06/06 HNR: 120-year-old liquor company to debut shares
05/06 FLC Group to hold US investment roadshow
05/06 TCB: Techcombank lists over 1.16 billion shares on HOSE
01/06 VPB: Central bank approves VPBank’s capital charter hike
22/05 VIC: Vingroup target 50% profit growth
19/05 HVN: Vietnam Airlines plans to build logistics hub in Can Tho city
18/05 MPC: Minh Phu Seafood tries to bring back glory days
16/05 TDH: Daewon Thu Duc House develops $115-million property project in Hanoi
Newsletter Signup
Top Stories
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
Market Update
Last updated at 11:31:38 AM
VN-INDEX 933.54 +12.27/+1.33%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.