June 28, in City. Ho Chi Minh, Petroleum Construction Maintenance and Repair Corporation, JSC (PVMR)
successfully organized the 2023 Annual General Meeting of Shareholders (AGM).
Attending the Congress, representatives of Vietnam Oil and Gas Group were Mr. Bui Minh Tien – Member of the Board of Directors, Ms. Bui Thi Nguyet – Head of the Internal Control Committee, Mr. Nguyen Trung Tri – representative of the Group’s capital. delegation at PVMR, representatives of the Group’s departments, and representatives of the AASC audit unit.
On PVMR’s side were Mr. Ho Quyet Thang – Chairman of the Board of Directors, Mr. Vu Dinh Chien – Member of the Board of Directors, Mr. Nguyen Minh Hoa – General Director, along with members of the Board of General Directors, Board of Supervisors, leaders of departments, Capital representative/Director of member units.
| Overview of the Congress. |
| The Presidium runs the Congress. |
Reporting on the situation of production and business activities, PVMR General Director Nguyen Minh Hoa said that in the context of many difficult challenges in 2022, the Corporation’s Executive Board and all employees always strive to overcome challenges and grasp Seize opportunities to well implement the proposed health and construction plan, ensuring the lives of employees. Total consolidated revenue reached 163% of the plan; Consolidated profit after tax reached 547% of the plan; State budget payment reached 121% of the plan.
| Mr. Nguyen Minh Hoa – General Director of PVMR reported production and business activities in 2022, as well as goals and orientation for 2023. |
PVMR continues to persevere in proactive solutions to review and manage risks, especially financial risks for project bidding packages, focusing time and resources on solutions to increase the proportion of self-implementation. Thereby, although PVMR’s 2022 revenue target is lower than 2021, its profit performance far exceeds the profit target plan approved by the 2022 General Meeting of Shareholders. The investment in developing the capacity to self-perform services through improving the quality and number of professional staff at PVMR has begun to have good results: ship inspection services and technical & technology services of PVMR. PVMR has increased the proportion of self-performed services, reducing dependence on partner subcontractors, contributing to improving PVMR’s business efficiency in 2022.
Reporting on the activities of the Board of Directors, Mr. Vu Dinh Chien – Member of the Board of Directors said that in 2022, with the domestic and world economic situation affected by geopolitical conflicts and disruptions in the global supply chain, demand, lack of supply of goods and raw materials, fluctuations in exchange rates and loan interest rates,… PVMR’s Board of Directors has proactively directed and coordinated closely with the Board of Management to set out scenarios, Flexible solutions to complete production and business plans; always closely direct and seek opinions from major shareholders and Petrovietnam to unify strategic directions and breakthrough solutions for PVMR development; Timely support and coordination with the Board of Directors in implementing tasks and production and business activities; Continue to improve internal management systems in a streamlined direction, improving application efficiency; Promote the implementation of synchronous corporate culture throughout the Corporation and digital transformation in operating activities and production and business organization of the enterprise.
| Mr. Vu Dinh Chien – Member of the Board of Directors reports on the activities of the PVMR Board of Directors in 2022 and orientation for activities in 2023. |
In 2023, PVMR continues its business strategy of accompanying international contractors and strong domestic suppliers to build product and service packages to provide to customers, avoiding much impact. by the above-mentioned fluctuating factors thanks to the method of sharing risks and promoting beneficial factors of the parties participating in the joint venture. Partners and PVMR have promptly implemented specific plans for each bidding package/project to overcome arising challenges and difficulties. In addition, PVMR will also focus on investing and developing human resources, considering the development of human resources capacity, especially high-quality personnel, as a key breakthrough solution in the development strategy for the period. 2022-2025.
| The Presidium answered shareholders’ questions about PVMR’s operating orientation in the coming time. |
At the meeting, PVMR submitted to the General Meeting of Shareholders to discuss and approve all reports and submissions related to production and business activities, activities of the Board of Directors and Supervisory Board (BOS), payment of remuneration to the Board of Directors/BOS, Report Audited 2022 finances, 2022 profit distribution plan and 2023 profit distribution plan with high consensus rate. PVMR’s General Meeting of Shareholders also approved proposals on amending and supplementing the charter, internal regulations on governance, operating regulations of the Board of Directors and Supervisory Board, and accompanying drafts.
Importantly, the Congress unanimously approved the report on personnel work, dismissed and elected new members of the Board of Directors and Supervisory Board. Accordingly, Mr. Nguyen Trung Tri and Mr. Le Van Sy were elected members of the Board of Directors of PVMR; Mr. Mai Dinh Hieu was elected as a member of the Supervisory Board. At the Congress, the PVMR Board of Directors also held a meeting to elect Mr. Nguyen Trung Tri to hold the position of Chairman of the Corporation’s Board of Directors for the 2023-2028 term.
Speaking at the Congress, Petrovietnam Board Member Bui Minh Tien affirmed that Petrovietnam, as a major shareholder, is always responsible for supporting the operations of PVMR Corporation; However, the success of the unit depends mainly on the management capacity of the board of directors, as well as the efforts of the PVMR staff and workers. After the 2023 Annual General Meeting of Shareholders, PVMR has completed the work of strengthening key personnel, with two important positions: Chairman of the Board of Directors and General Director; This will be a new breath of vitality, creating new strength for PVMR in building a complete long-term development strategy, setting specific goals and roadmaps, as well as identifying and assessing risks and planning. plan to deal with difficulties and challenges in the coming time.
| Mr. Bui Minh Tien – Member of the Board of Directors of Vietnam Oil and Gas Group spoke at the Congress. |
Representative of Petrovietnam, Mr. Bui Minh Tien expects that PVMR in the coming time will continue to consolidate and improve the capacity of the management team, and propose effective policies to retain talented people and develop quality human resources. High; At the same time, strengthen financial and investment management; build a professional and effective working environment, improve corporate culture; Promote investment plans, upgrade modern equipment, tools to improve product and service quality, enhance competitiveness, increase profits, and increase income for workers.
“The major projects that the Group is preparing to deploy in the near future, such as the O Mon 3 – 4 Thermal Power Project, Block B gas project as well as renewable energy projects in line with the energy transition trend Global output… will open up many opportunities for PVMR; Corporation leaders need to flexibly seize opportunities to increase the scale of development for the unit. Besides, PVMR also needs to orient to expand the market operations, improving competitiveness to increase market share not only in the industry but also in markets outside the oil and gas industry.”
| Mr. Nguyen Trung Tri – new Chairman of the Board of Directors of PVMR spoke at the Congress. |
Speaking at the closing of the Congress, Mr. Nguyen Trung Tri – the new Chairman of the Board of Directors thanked Petrovietnam leaders for their attention, and the trust, support, and companionship of shareholders throughout PVMR’s operations. With the foundation of the results achieved in 2022 and the success of the 2023 Annual General Meeting of Shareholders, the Chairman of the Board of Directors commits that the Board of Directors and employees of PVMR will continue to do their best. , gradually overcoming difficulties, successfully completing all assigned tasks, meeting the expectations of shareholders./.
Source: Petrotimes
