Petrovietnam Machinery – Technology Joint Stock Company (PVMachino) successfully held an Annual General Meeting of Shareholders in 2024

On April 23, 2024, at the 5th floor hall of the company’s headquarters, 8 Trang Thi Street, Hoan Kiem District, Hanoi, Petrovietnam Machinery – Technology Joint Stock Company (PVMachino) successfully held the 2024 Annual General Meeting of Shareholders. Attending the meeting were Mr. Pham Van Hiep – Member of the Board of Directors, General Director of the Company; Mr. Nguyen Minh Tuan – Member of the Board of Directors; Mr. Vuong Hoang Thang – Independent Member of the Board of Directors; Mr./Ms. in the Board of Directors, Supervisory Board, Executive Board and Company’s staff and shareholders attended. The meeting opened at 1:50 p.m. with the presence of 69 shareholders present in person and authorized, equivalent to 76.54% of the total voting shares.

The General Meeting listened to reports from the Board of Directors, Supervisory Board, Executive Board of the Company and related proposals such as: Proposal to approve the audited financial statements for 2023, Proposal for the profit distribution plan for 2023, Proposal to supplement business lines and amend the Company’s Charter, plan to list PVM shares on the Stock Exchange, Proposal to dismiss and elect additional members of the Board of Directors.

Mr. Pham Van Hiep – Member of the Board of Directors, General Director of PVMachino on behalf of the Presidium chaired the Annual General Meeting of Shareholders in 2024

Speaking at the General Meeting, Mr. Pham Van Hiep – Member of the Board of Directors, General Director of the Company shared: In 2023, the world and Vietnam’s economic situation continues to face many difficulties with wars and conflicts occurring in many places, high inflation and tight global monetary policies. Facing these challenges and difficulties, the Company has made efforts to organize and implement the production and business plan targets in 2023 according to the Resolution approved by the General Meeting of Shareholders; enhance corporate governance in a modern, professional and effective direction; promote cooperation with capable and potential partners to develop new business fields and lines of the Company. In terms of production and business results in 2023, the Company exceeded the plan assigned by the General Meeting of Shareholders. Total revenue for the year was 1,826.80 billion VND, reaching 122% of the set plan. Profit before tax was 156.82 billion VND, reaching 241% of the set plan. Profit after tax was 145.06 billion VND, reaching 237% of the set plan.

In 2024, the Board of Directors plans to have a revenue of 2,480 billion VND; profit before tax of 60.5 billion VND, and profit after tax of 57.94 billion VND. The Company has been continuing to promote the commercial and service business activities, the supply of materials and equipment for projects and works inside and outside the petroleum industry. Focusing on the import and export of agricultural products in the international market. Developing the real estate investment sector, focusing on timely and quality implementation of projects that have been bid, promoting research on new projects in the short and long term, and soon listing PVM shares on the Stock Exchange when the Company meets all terms, ensuring the legitimate rights and benefits of shareholders. 

During the discussion, some shareholders expressed their concerns about the following issues: dividend payment in 2023, some financial targets in 2023, the implementation of capital investment in projects, the listing of PVM shares on the stock exchange, … The Presidium answered and clarified the issues that the shareholders were concerned about. 

The General Meeting voted to dismiss and elect an additional member of the Company’s Board of Directors for the 2020-2025 term; voted on the contents of the Report and Proposal.

The General Meeting voted on the contents of the Report and Proposal

Regarding the results: The General Meeting approved with a high approval rate the contents of the Reports and Proposals. The Meeting also elected Mr. Dang Van Than to hold the position of member of the Board of Directors for the 2020-2025 term, replacing Mr. Vu Duc Tien who had submitted his resignation.

Mr. Dang Van Than who was elected as a member of the Board of Directors received congratulatory flowers from the Presidium.

On behalf of the Presidium, Mr. Pham Van Hiep – Member of the Board of Directors thanked the shareholders for accompanying the Company during the past time.

After a period of active, expeditious, democratic and law-abiding work, the 2024 Annual General Meeting of Shareholders of Petrovietnam Machinery – Technology Joint Stock Company has completed the contents of the agenda and was a great success. The meeting closed at 5:30 p.m. on the same day.