PV Engineering Strives to Beat Business Targets in 2011

PetroVietnam Investment Consultancy and Engineering Joint Stock Company (PV Engineering) successfully hosted its Annual General Meeting of Shareholders for the fiscal year 2011 at Rex Hotel, Ho Chi Minh City on April 21, 2011.

 

Notwithstanding domestic and international economic difficulties and fluctuations in 2010, the board of directors of PV Engineering excellently fulfilled the resolution of the Annual General Meeting 2010, with all business results surpassing initial targets. Specifically, revenues reached VND416.62 billion, 4. 2 percent higher than the yearly plan and 38.0 percent higher than those in 2009; and pre-tax profit was VND26.27 billion, equal to 122.2 percent of the full-year plan and up 50.0 percent from 2009. The Ho Chi Minh City-based company also raised the authorised share capital from VND80 billion to VND180 billion in 2010. It also restructured into a corporation and operated with a holding company model.

 

In 2011, the firm targets to increase revenues by 78 percent to boost investments for its consultant and designer force development, competitiveness enhancement and headquarters reallocation to Floor 10, Dragon Tower, Dragon City in Nha Be District, Ho Chi Minh City. All shareholders voted for the resolution of Annual General Meeting 2011.