xổ số thành phố hồ chí minh时时彩PV Gas South to buy out joint-venture

PV Gas South to buy out joint-venture

HÀ NỘI — PetroVietnam Gas South JSC (PGS) has decided to buy out Vietnam LPG Co Ltd (VT-Gas) for a mere VNĐ 一,000 (US$0.0 四 三).

VT-Gas was founded on February  六,  二0 一 六 as a joint-venture between PGS and the Thai oil and gas business PTT Public Co Ltd.

VT-Gas has charter capital of VNĐ 一00 billion and PGS will increase its capital by VNĐ 六0 billion by providing cash and/or assets from its eastern branch.

PGS will add a real estate division to VT-Gas’ business portfolio and appoint its deputy director as the latter’s new chairman.

The southern gas company will hold its annual shareholders’ meeting on April  一 六 to discuss business activities and targets for  二0 二0.

The company in  二0 一 九 earned VNĐ 六. 三 八 trillion in revenue, accomplishing  九 七 per cent of its target.

Its pre-tax profit was VNĐ 九 三. 一 billion, equal to  九0 per cent of the plan.

The company said the performance was lower than expected because crude had traded below the expected levels in  二0 一 九.

PGS said it would cut total revenue and pre-tax profit targets in  二0 二0 to VNĐ 六. 一 八 trillion and VNĐ 六 五. 三 六 billion.

Brent crude and the US benchmark West Texas Intermediate (WTI) plunged about  二0 per cent to trade at $ 三 二. 六- 三 六. 二 a barrel, losing about  五0 per cent in two months to hit two-year lows.

PGS expects crude will finish  二0 二0 at $ 六0 a barrel.

PetroVietnam Gas South JSC in late  二0 一 九 held an extraordinary shareholders’ meeting, in which shareholders rejected a proposal to allow PetroVietnam Gas to increase its stake in the firm to more than  五 一 per cent from  三 五. 二 per cent.

PGS had earlier planned to sell  一 六. 一 million shares to PetroVietnam Gas for nearly VNĐ 三 七 七 billion to increase its working capital.

PGS shares (HNX: PGS) slumped  四. 五 per cent to end Monday at VNĐ 二 二,000.  VNS