PVFC reports performance
07-OCT-2008 Intellasia | Dau Tu Chung Khoan page 18
Oct 7, 2008 - 7:00:00 AM
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PetroVietnam Finance Corp (PVFC) is now a non-banking credit institution under the Vietnam National Oil and Gas Group (PetroVietnam). PVFC made equitisation last year and scaled up chartered capital from three trillion dong to five trillion dong, of which 596 billion dong was issued to the public and 500 billion dong was sold to the strategic shareholder namely Morgan Stanley Finance Group.
PVFC changed operation model to holding company on March 18 with three subsidiaries including PVFC Invest, PVFC Land and PVFC Media. During the first eight months of the year, PVFC's revenue was 2.452 trillion dong, up 150% from last year and a profit of 352 billion dong after deducting 946.4 billion dong for prevention fund and total assets of 43.8 trillion dong.
At present, the corporation is investing in eight projects with the total investment capital of 1.2 trillion dong such as Vietnam-Laos Hydropower project worth 583.4 billion dong and Nhon Trach II Power Joint Stock Co with 281.6 billion dong.
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