Tuesday, July 17, 2018 4:15:13 PM - Markets open
VN-INDEX 921.27 +10.16/+1.12%
HNX-INDEX 104.83 +1.71/+1.65%
UPCOM-INDEX 49.42 +0.12/+0.25%
BSR earns 54 trillion VND in revenue in six months
Thanhnien.vn - 6/22/2018 9:50:16 AM
 (0 ratings. You must sign in to rate.)
The Binh Son Refining and Petrochemical One Member Co Ltd (BSR), a subsidiary of PetroVietnam, pocketed nearly 54 trillion VND (2.37 billion USD) in revenue in the first six months of the year, accounting for 69 percent of the yearly plan.
 
At its shareholders’ meeting held in the central province of Quang Ngai on June 21, the company said that its net profit reached 2.7 trillion VND (118.8 million USD), equivalent to 77.6 percent of the target set for the whole year.
 
The company’s total output stood at 3.53 million tonnes while its sale volume was estimated at 3.6 million tonnes, completing 57 percent of the yearly plan.
 
Under the firm’s business development plan in 2018 and orientation for the 2018-2022 period, the BSR’s revenue is expected to hit a peak of nearly 6.4 trillion VND (281.6 million USD) in 2019 and the amount will taper off in the three following years due to plant’s expansion.
 
The company will complete the upgrade and expansion of the Dung Quat Oil Refinery, and put it into operation in 2022. Upon completion, the plant’s yearly refining capacity will increase from 6.5 million tonnes to 8.5 million tonnes of crude oil meeting the Euro 5 standard.
 
The BSR will channel efforts towards a leading competitive oil refining company in the region.
 
Earlier this year, the BSR sold 241.5 million shares, or 7.79 percent of its charter capital, during its first initial public offering (IPO) on the Ho Chi Minh Stock Exchange (HOSE). 
 
The shares were sold to 623 investors, including 62 organisations and 561 individuals, at an average price of 23,043 VND (1.01 USD) per share, as against the asking price of 14,600 VND (0.64 USD). Of note, a foreign investor purchased 147.83 million shares or 61.2 percent of the total shares on sales. 
 
Under the equitisation plan, PetroVietnam will retain 43 percent of the BSR’s charter capital, while a maximum of 49 percent (1.52 billion shares) will be sold to strategic investors, expecting to earn nearly 1 billion USD. About 0.21 percent of shares will be offered to the company’s employees.
 
On March 1, all of the BSR shares were traded on the Unlisted Public Company Market (UPCoM) and they drew the attention of a large pool of domestic and foreign investors.
 
Many international investors have worked with BSR to seek cooperative opportunities, including Nation Indian Oil Coporation, Indonesia’s Pertamine, and Thailand’s Bangchak Corporation Public Company Limited.-VNA
 
Read original article here
Newer News
10:07 PetroVietnam posts positive outcomes in H1
11/07 More listed businesses post profit gains in first half
02/07 Vietcombank’s pre-tax profit up 52 percent in six months
Older News
05/06 PetroVietnam contributes 1.79 bln USD to State budget in five months
09/05 POW: PV Power Q1 profit up 37%
03/05 VNM: Vinamilk’s profit down by 9% in first quarter
02/05 VRE: Vincom Retail’s consolidated revenue up by 16%
24/04 VJC: Vietjet’s profit hits new height in 2017
17/04 TAC increases dividend by half to 24 per cent
11/04 HPG: Hoa Phat steel grows 10 percent in Q1
04/04 HAGL reports decrease of $29 million in audited financial statements
27/03 Bank profits expected to rise significantly in Q1
07/02 Petrolimex’s profit down despite revenue increase
 
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 3:09:42 PM
VN-INDEX 921.27 +10.16/+1.12%
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...
Portfolio
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.