BSR earns VND54 trillion in revenue in six months
Saturday, June 23,2018AsemconnectVietnam - The Binh Son Refining and Petrochemical One Member Co Ltd (BSR), a subsidiary of PetroVietnam, pocketed nearly VND54 trillion (US$2.37 billion) in revenue in the first six months of the year, accounting for 69% of the yearly plan.
The company’s total output stood at 3.53 million tonnes while its sale volume was estimated at 3.6 million tonnes, completing 57% 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 VND6.4 trillion (US$281.6 million) 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% 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 VND23,043 (US$1.01) per share, as against the asking price of VND14,600 (US$0.64). Of note, a foreign investor purchased 147.83 million shares or 61.2% of the total shares on sales.
Under the equitisation plan, PetroVietnam will retain 43% of the BSR’s charter capital, while a maximum of 49% (1.52 billion shares) will be sold to strategic investors, expecting to earn nearly US$1 billion. About 0.21% 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.
In 2023, Refrigeration Electrical Engineering (REE) plans to increase profit slightly by 0.3% to VND 2,700 billion
PVOIL (OIL): Outstanding output growth in 2022
Sudico AGM (SJS): Growth target in 2023 from 10-15% of revenue
In 2023, Hoang Huy Investment Services (HHS) expects profit up and dividend of 8%
2023 Nam A Bank (NAB) Annual General Meeting of Shareholders: List shares and expand overseas branches
Mobile World (MWG) plans to increase its profit slightly to VND4,200 billion in 2023
Masan (MSN) continues to attract foreign capital up to VND15,000 billion
Century Synthetic Fiber Coporation (STK) successfully approached USD52.5 million in syndicated loans
Hoa Sen AGM for the year 2022-2023 (HSG): HSG will be profitable in March, April and May 2023
Fitch Ratings first international credit rating with GAS at “BB”
PVCoating (PVB) executes a pipe wrapping contract for Vietsovpetro
Hoang Anh Gia Lai (HAG) earns VND108 billion profit in February 2023
Nam A Bank (NAB) expects VND2,400 billion dong pre-tax profit, 25% dividend
475,000 tons of Hoa Phat steel (HPG) were consumed in February
Plan on implementing Decision No. 327/QD-TTG dated March ...
Concretize viewpoints, objectives, tasks and solutions of the plan in accordance with practical conditions of the locality, associating ...Plan on implementing national environmental protection ...
Implementation plan of marine aquaculture development ...
Program on conservation and development of Vietnamese ...
Plan on improving quality of human resources to 2025 and ...
Efforts taken to turn culinary culture into national ...
The Vietnam Cuisine Culture Association (VCCA) is taking steps to implement a project to build and develop Vietnamese culinary culture ...Vietnamese cuisine making a name for itself with ...
Vietnam advance to next round of AFC U20 Women’s Asian Cup
Cultural tourism and traditional values promoted through ...