PTSC successfully announced annual general meeting of Shareholders 2018

On May 25th, the Petrovietnam Technical Services Corporation (PTSC, MCK: PVS) successfully held the 2018 Annual General Meeting.

The Presidium runs the meeting.

Report to shareholders, Mr. Phan Thanh Tung, PTSC general director said, the oil and gas service market in 2017 has not progress in terms of both workload and service prices. In particular, the oil and gas service is fierce competition. In the domestic market, policies to protect and support state-owned enterprises tend to decrease. At the same time, the current policy and mechanism remains inadequate, not supporting domestic enterprises, causing disadvantages for domestic enterprises. Meanwhile, the development of offshore services has been difficult due to the limited work and the increasing protection in the host countries, besides, Vietnam has no clear policy to assist domestic enterprises in developing services in foreign countries.

In that context, PTSC has urgently applied a series of drastic, strong and synchronous measures to boost business development, cut spending, practice thrift ... achieve positive business results, maintaining a good profit. Specifically, the consolidated revenue for the whole year of the Corporation is VND 22,368 billion, equal to 172% of the year plan; consolidated profit before tax reached VND 1,005 billion, equaling 143% of the year plan.

General Director of PTSC Mr. Phan Thanh Tung reports business results in 2017, plan in 2018

In 2018, PTSC has set a consolidated revenue target of 13 trillion VND and pre-tax profit of 700 billion VND. In order to reach the target, PTSC concentrates its resources on promoting and developing its business activities, ensuring high quality and prestigious petroleum technical services to meet the requirements of the petroleum contractor; actively promote marketing, participate in bidding and seek contracts to ensure employment for employees; consolidate the domestic market, expand the foreign market; To formulate solutions to connect the system, promote trade promotion, establish partnership relations and associate with the strength of the Corporation.

Shareholders vote for the content submitted to the meeting

At the meeting, PTSC's Board of Directors answered all questions of shareholders and investors on issues such as: The situation of projects that PTSC is providing services such as Red Dragon Fish, Golden Star – Dai Nguyet; Some issues in the floor listing PVS shares from HNX to HOSE, the operation of some member units of PTSC ...

General congress scene

Shareholders approved the plan to distribute 2017 profit and PTSC's financial plan for 2018 with a cash dividend of 2017 at 10% per annum and dividend plan for 2018 at 7%. % / charter capital; PTSC's chartered capital increase from VND 4,467 billion to VND 5,896 billion was approved in 2017 and continues to be authorized by the PTSC's Board of Directors when the conditions are met

PTSC General Director Mr. Phan Thanh Tung exchanged with shareholders and investors

On the Board of Directors, the Board of Supervisors (BOS), the General Meeting of Shareholders approved the termination of the Board Member for Mr. Thai Quoc Hiep to retire by the regime, leaving the Board Member to Nguyen Van Mau on his individual resignation and leaving members of the Supervisory Board to Mr. Trieu Van Nghi according to individual resignation; At the same time, 4 members of the Board of Directors and one member of the Supervisory Board were elected.

Mai Phuong