DMC successfully organized the annual General Meeting of Shareholders 2017

For Vietnam Oil and Gas Group or PetroVietnam (PVN), we respectfully welcomed Mr. Pham Xuan Canh – Permanent Deputy Secretary of the Party Committee, member of PVN’s Member Board; Mr Le Manh Hung – Deputy General Director of PVN together with representatives from professional departments of the Corporation.
For DMC, we respectfully welcomed Mr. Nguyen Ngoc Khanh – Chairman of the Management Board; Mr. Ton Anh Thi – General Director of DMC along with members of the Management Board, the Directors Board, representatives from Departments/ Offices and shareholders of DMC.
 

 

Leadership Board of DMC gave flowers to congratulate Mr. Le Manh Hung - Deputy Director of PVN elected to the Management Board of DMC
 

 At the General Meeting, Mr. Ton Anh Thi – General Director of DMC presented a report on business and manufacture situation in 2016 and business plan of DMC in 2017.
In 2016, DMC attempted to implementthe strategy of developing Petrochemical technical service section, building a more professional chemical supply chain creating stable revenue and profit. However, this was the year in which DMC had to struggle with a lot of difficulties and challenges, especially the situation that raw oil price fluctuated and remained low (40 – 50 USD/ barrel). This factaffected directly all key activities of DMC which were from manufacture to drilling service, oil and gas exploration. As a result, almost planned targets of business and manufacture were not reached and plummeted compared to 2015. The revenue of 2016 reached 3,092.3 billion VND accounting for 103 % of the plan. The amount of money paid for budget was 147.8 billion VND reaching 96.2 % of the plan.
Also in 2016, facing up withthe hard forecastdue to the negative effect of low oil price, DMC continued to implement solutions of corporation management, decreased cost and flexible selling method in order to minimize the amount of inventories and get business section atthe safest mode. Considering only the cost of business management, we could see that DMC decreased continuously from 132 billion VND (2015) down to just 84 billion VND. On the other hand, DMC improved the business of industrial technical service. It is estimated that in the first six months of 2017, the revenue of this field reached 151 billion VND (168 % of the six-month plan, 431 % compared to the same period of 2016).
 

 

 
Based on the actual situation, DMC builtthe 2017 plan with basic indicators such as the total revenue of 2,660 billion VND, the profit before tax of about 25 billion VND, the amount of money paid for the State Budget of 116.3 billion VND.
To complete those above goals, DMC will mobilize sources, implement synchronous methods with the aim of maximizing strengths of DMC in the field of supplying cleaning, environmenttreatment, anti-corrosion services. Besides, DMC will also expand its market, professionalize products’ business, increase categories of new business products.
Atthe General Meeting, because Mr. Nguyen Ngoc Khanh – Chairman of Management Board is nearly atthe age of retirement, to consolidate DMC, shareholders proceeded to vote for additional member of Management Board in 2015 – 2020 term. All the shareholders voted with a high unity and consensus. 95.45% of shareholders voted for Mr. Le Manh Hung to become new member of DMC’s Management Board.
 

 

Leadership Board of DMC gave flowers to express their gratitude for Mr. Nguyen Ngoc Khanh – Chairman of DMC’s Management Board.

Simultaneously, shareholders proceeded to vote for reports of Management Board, Control Board; reports on wages, bonuses, profit distribution, audit unit selection with a high rate of approval.