Petrolimex/PLX honoured revenue champion for the 4th year
On October 15, 2020, the Vietnam National Petroleum Group (Petrolimex/PLX/Group) was honoured the Champion of Revenue on the stock market among the "Vietnam’s top 50 listed companies" in 2020 selected by Forbes Vietnam. The honouring ceremony took place at GEM Centre, District 1 in HCM City.
Mr. Tran Tuan Linh - Head of Petrolimex’s Risk Management Department, in charge of Investor Relations represents the Vietnam National Petroleum Group to attend the honouring ceremony and receive the “Top 50 listed companies in 2020” medal
In 2019, Petrolimex reported relatively comprehensive business and production results with objectives basically being fulfilled and surpassed those set by the Annual General Shareholders’ Meeting: Output reached nearly 13.9 million tonne; The Group’s total consolidated revenue was VND189,604 billion (US$8.2 billion); Pretax earnings reached VND5,648 billion ($244 million); State budget contribution of VND44,519 billion ($1.9 billion); Parent Company’s dividend payment was 30 per cent, equivalent to VND3,572 billion ($155 million).
At the annual gathering of the Petrolimex’s General Meeting of Shareholders, the General Meeting agreed upon the operation orientations for 2020, that is: To maintain the stability and sustainable development and to enhance business efficiency through governance quality and capital efficiency.
Petrolimex has been listed on the stock market since 2017 with the sticker symbol of "PLX". Till now, Petrolimex has always asserted the position of a leading enterprise in the petroleum sector, and played a key role in the domestic market in line with the Government’s direction, ensuring sufficient and timely supply of various kinds of petroleum for the national socio-economic development, ensuring national security and defence and satisfying people’s needs for fuel.
This is the eighth year that Forbes Vietnam has conducted the ranking in the context that the Vietnamese and world economies are strongly affected by the unpredictable uncertainties of the COVID-19 pandemic. The 2020’s list marks the rise of companies in sectors less affected by the pandemic such as: pharmaceuticals, construction, consumer goods, basic materials, finance and so on.
According to Forbes Vietnam, the companies listed have strong foundations and profound business results in 2019 and are expected to demonstrate great resilience in the context of Vietnam’s economy facing the most challenges in the last ten years. Forbes Vietnam believes that enterprises targeting the domestic market are not immune to difficulties from the COVID-19 but are resilient once the epidemic is controlled.
Assessment method Forbes Vietnam reviewed all listed shares on the HCM Stock Exchange (HSX) and Hanoi Stock Exchange (HNX) and sorted them by sector. In the preliminary round, companies which are making losses, or in the process of delisting, companies with market capitalization and revenue under VND500 billion ($21.6 million), and subsidiaries with operations dependent on parent companies are not eligible for the following round. Next, in the qualitative round, Forbes Vietnam independently reviews the level of corporate sustainability such as brand, corporate governance quality, past profit origins, and sustainable development prospects. Companies that have repeatedly violated the disclosure obligations of the two stock exchanges, suspected of manipulating their stock prices or showing signs of poor transparency will be eliminated. |
