AsemconnectVietnam - The Board of Directors of Petroleum Machinery and Equipment Joint Stock Company (PVMachino, code PVM - UPCoM) has just approved the capital contribution to establish Dong Kinh Real Estate Investment and Trading Company Limited (Dong Kinh Real Estate) and appointed a representative to manage the contributed capital.

Dong Kinh Real Estate is headquartered in Block 8, Dong Kinh Ward, Lang Son City, Lang Son Province; the main business line is real estate trading, land use rights owned, used or leased.
The charter capital of Dong Kinh Real Estate is VND50 billion, of which PVMachino contributes 50% of the capital, the capital contribution period is within 90 days from the date the new company is granted a certificate of registration.
Accordingly, PVMachino will send representatives to contribute capital to Dong Kinh Real Estate, including Mr. Pham Van Hiep, with a total representative capital value of VND15 billion, accounting for 30% of charter capital, as Chairman of the Board of Directors and Mr. Chu Thanh Nam, with a total representative capital value of VND10 billion, accounting for 20% of charter capital, as a member of the Board of Directors, for a period of 5 years from the date of issuance of the decision.
PVMachino is a company with a brand name of more than 60 years of experience in the field of import and export of machinery, equipment, spare parts and supplies. The predecessor of PVMachino is the Machinery and Spare Parts Corporation (Machinoimport) - a leading enterprise of the Ministry of Trade. Currently, the Company has a charter capital of more than VND386 billion.
By the end of 2024, PVMachino had subsidiaries such as Saigon Petroleum Machinery and Equipment Company Limited (100% owned), Da Nang Petroleum Machinery and Equipment Joint Stock Company (49.78% owned, but the management structure is the Chairman of the Board of Directors and the Head of the Supervisory Board is a representative of PVM), Machino Thanh Dat Joint Stock Company (51% owned), Machino An Phu Joint Stock Company (55% owned), Machino Phu Xuan Company Limited (70% owned).
Regarding business activities, in the fourth quarter of 2024, PVMachino recorded revenue of nearly VND529 billion, a sharp increase of 55.6% over the same period last year; profit after tax reached VND12.2 billion, while in the same period it lost VND13.4 billion.
Accumulated in 2024, the Company achieved nearly VND1,907 billion in revenue, an increase of 32.43% over the previous year; However, due to the lack of extraordinary financial revenue like in 2023, after-tax profit decreased by 59%, reaching more than VND55.2 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan