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PVFC gained VND281.5 billions profit before tax in the first half of 2010 In the first 6 months of 2010, despite of complicate context of financial and stock markets, and sharp competition among finance organizations, PVFC’ business however got remarkable results:
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Revenue: VND3,223 billions (equivalent to 64% of 2010’ plan approved by the shareholders)
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Profit before tax and after reserved for credit and investment: VND281.5 billions (equivalent to 45.4% of 2010’ plan approved by shareholders)
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Total assets: VND62,817 billions (accounted on June 30th 2010).
These results are built up by such growth of key businesses as:
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Credit revenue: VND 1,387 billions (43% of total revenue)
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Total credit: VND32,645 billions (accounted on June 30th 2010) increasing VND 2,871 billions (9.6%) comparing to the total credit accounted on Dec 31st 2009 (VND29,774 billions).
Especially, in the 2nd quarter, series of credit contracts, fund arrangement contracts with great values have been signed by PVFC and investors, as followings: PVTran’ Oil Tank (USD 150 millions), Chim Sao FPSO (USD 252 millions), O Mon - Plot B pipe line (USD500 millions), Dakring Hydroelectric Plant (VND1,300 billions), Quang Ngai Bio-Ethanol Plant (USD52 millions), Gia Lai Bio-Ethanol Plant (VND729 billions), Vung Ang1 Thermoelectric Plant (USD1,000 millions), PVEP’ Song Doc Crude Oil Exploitation Project (USD90 millions), Low pressure gas providing system for Nhon Trach – Dong Nai Industry Zones (VND 405 billions), Song Hau Power Centre (USD1.5 billions)… These contracts will bring considerable profits to PVFC in the next quarters.
In investment side, PVFC continued reconstructing its long term investment portfolio: reduced low potential, costly and not-in-the-priority-list items. The company also reinvested in stable profitable business (bonds and derivatives) and enhanced M&A services. As result, after 6 months, investment revenue reached VND 1,452 billions (45% of total revenue).
Financial advisory services added VND 80.6 billions to total revenue (2.5%). The high-light in this business was PVFC’ successful CERs auction for Rang Dong CDM project. The contract was signed by Petrovietnam and PVEP with CERs buyer complying with Kyoto Protocol, bringing to CDM investor in Vietnam the income number over EUR 10,475,000. At the same time, PVFC signed CDM development contracts for such key projects as: Phu Tho Bio-Ethanol, Dung Quat Bio-Ethanol, Concurrent Gas and Gaslift Collecting Project for Rong-Doi Moi Basin in Binh Phuoc Province owned by Indochine Bio-Ethanol Company an Itochu Co. (Japan). This was a clear proof of PVFC’ growth and service quality in CDM trading market, meeting all international regulations and standards.
Based on the above results, in the last 6 months, considering the financial market that is complicate happening and not easy to predict, PVFC uses every opportunity to intensify its business. Specifically, the Corporation plans at the end of 3rd quarter: accumulate revenue – VND 4,803 billions, accumulate profit before tax – VND496 billion. At the end of 2010 finance year, PVFC aims to reach at least VND5,059 billions revenue, VND620 billions profit before tax and after reserved for credit & investment.
(PVFC) Số lượt đọc:
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Cập nhật lần cuối:
06/08/2010 10:29:20 AM | | Latest Articles: PVFC and UOB successfully constructed USD40 millions short term caveat loan for PVPower-Nhon Trach IIOn July 29th, in Hochiminh City, the United Overseas Bank Limited (UOB) and PVFC successfully organized the Contract ceremony of USD40 millions short term caveat loan (equivalent to VND 760 billions) for PV Power – Nhon Trach II Project. UOB was the fund provider and PVFC (HCM Branch) leading arranger. PVFC Capital has new head officePVFC Capital honorably inform to our dear customers and partners that we are now working in the new head office (from July 27th 2010). Vietinbank and PVFC successfully arranged $227 billions fund for the Chim Sao Basin – Plot 12W – VietnamOn July 21st, Vietinbank, PVFC and co-sponsoring banks together signed the sponsor agreement for the project of Chim Sao Basin-Plot 12W-floating production storage and offloading vessel. The total amount reaches to $277 billions and will last for 7 years. PVFC Thanh Hoa co-sponsored in 12/9 Petroleum Cement ProjectJuly 20th, in Vinh City, Nghe An Province, together with BIDV Nghe An, Ocean Bank Vinh (sponsoring banks), PVFC-Thanh Hoa Branch has signed the co-sponsoring contract, credit contract and mortgage contract with the 12/9 Petroleum Cement Joint Stock Company – the project owner. PVFC arranged capital for SongHau Electricity Centre ProjectOn July 18th 2010, in Hau Giang Province, Petrovietnam ran the ground breaking ceremony of the Project “Song Hau Electricity Centre – 1st Phase”. PVFC cooperated with Vietnam Resources and Environment Corporation in CDMOn July 7th 2010, in the grand opening ceremony of the Vietnam Resources and Environment Corporation (VREC), held at the National Conference Center – My Dinh – Hanoi, the Corporation signed with PVFC a memorandum of understanding of cooperation in investment, finance services and CDM projects. PVEP signed Contract for Incorporation and Administration of the Mixed company PetroMacareo S.A., Block Junin 2, VenezuelaOn July 1, 2010, in Caracas, the Bolivarian Republic of Venezuela, under the witness of H.E. Hoang Trung Hai, Deputy Prime Minister of the Socialist Republic of Vietnam, the Contract for Incorporation and Administration of the Mixed Company PetroMacareo S.A. for producing and upgrading heavy oil in Block Junin 2, Orinoco Oil Belt, the Bolivarian Republic of Venezuela, is signed by Mr. Nguyen Vu Truong Son, President & CEO of PetroVietnam Exploration Production Corporation Ltd. (PVEP) and Mr.Ruben Figuera of Corporación Venezolana del Petróleo S.A. (CVP). |
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