PVE successufully organized Shareholder Meeting 2017

PetroVietnam Engineering Corporation (PVE) successfully held the Shareholder Meeting 2017 on April 26.

The Meeting welcome the appearance of Mr. Dinh Van Son - member of Board of Management of PVN and Mr. Tran Viet Dung - Deputy Director of Human Resources of PVN.

Reporting the operation results of 2016 and plans of operation in 2017, Mr. Do Van Thanh - General Director of PVE emphasized, during the difficult time when economies in some countries and in the world is facing multiple challenges, but with careful instructions from PVN leadership, with the co-operations of other member groups within the Corporation, PVE managed to meet and exceed the 2016 mission targets which had been passed by Shareholder Assembly.

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Mr. Do Van Thanh - General Director of PVE was reporting the operation results of 2016 and plans of operation in 2017

In details, consolidated revenue was 1,053 billion VND, making for 133% compared the annual plan; consolidated pre-tax profit is 41.74 billion VND, accounting for 103% compared to the annual plan.

During the year, PVE implemented some outstanding projects: Detailed Design of Song Hau 1 Thermal Power Plant; updating the Feasibility Research Report of Nam Con Son Pipeline 2 - Phase 2; participating in Front End Engineering Design (FEED) of Sao Vang Dai Nguyet Mine Development Project; WaterTreatment on Wellhead Platform 1, Post AFC BK-TNG; updating the Feasibility Research Report of Contruction Investion - Petrochemical Complex in the South, sea Investigation for FEED of Upgrading and Expanding Dung Quat Oil Refinery; Coast Investigation for FEED of Lot B - O Mon Pipeline; investigating the current condition of the Pipeline near Bach Ho - Long Hai coast; providing regular non-destructive testing services for Dung Quat Oil Refinery.

According to  this year’s operation results, General Assembly of Shareholders unanimously approved of profit distribution plan, dividend payment in 2016 with 8% over authorized capital.

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Presidium was answering the questions from Shareholders

Regarding the main missions in 2017, PVE will implement highly effective operations in order to meet the 2017 targets; focus on PVE’s key projects in 2017 to ensure the highest qualities, schedule and efficiency; focus all resources to effectively implement the tender packages under Malaysia’s Rapid Oil Refinery; constantly improve management skills for leaders of all levels; strengthen the reshuffle of resources in PVE and member groups, focus on training, complementary recruitment, development plans for highly skilled and experienced core staff; continue to promote PVE’s cultural construction to incentivize every staff of PVE, especially those implementing Malaysia’s Rapid Project.

After listening to reports, General Assembly of Shareholders issued and approved of the content of the statements, operation results of Director Board, Supervisory Board, audited financial statements, remuneration and expense general reports of Director Board and 2016 Supervisory Board, statements of profit distribution in 2016.

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Voting for the content of the Meeting

In the meeting, Mr. Dinh Van Son - member of Management Board of PVN appreciated every effort of the leadership, staff of PVE to overcome all the difficulties, obstacles in some past few years to have positive results, all that contributed to the development of the Corporation.

Mr. Dinh Van Son noted that, in the following years, the leadership of PVN will have to direct member groups, project partners related to PVN profits more carefully. At the same time, PVE should focus on Corporate Restructuring Programmes to control the quality of the staff and to reduce operating cost.

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Mr. Dinh Van Son - Member of Management Board was speaking in the meeting

On the behalf of PVN leadership, Mr. Dinh Van Son committed that PVN will continue to support PVE in the process of implementing projects, ensuring the highest quality in every operation. In addition, PVN also incentivize other member groups to support PVE directly and indirectly in searching for employment, to overcome all the difficulties.

Nguyen Hien
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