PPC successfully held the annual shareholders’ meeting in 2016[:]

[:en]On 14/4/2016, Petrovietnam Packaging Joint Stock Company (PPC) successfully organized the Annual General Meeting of Shareholders in 2016 with the attendance of shareholders, representing 2.288.600 shares for 70.09% of the company shares.

The congress has passed and agreed on important issues directly related to the efficiency of business operations and the organizational structure of the company as follows:

– Approval of the Board of Directors’ Report on the operation of the Company in 2015.

– Approval of the Report of the Board of Supervisors (BOS) of the Company in 2015.

– Approval of the report about the production and business results in 2015 and production and business plan in 2016.

– Approved financial statements (2015) audited by Deloitte Vietnam Limited.

– Approve the business plan of 2016 of the Company, specifically according to the following main criteria:

+ Production output: 18,514,265 bags.
+ Consumption output: 18,514,265 bags.
+ Turnover: 145,679 million dong.
+ Profit before tax: 5.415 million dong.
+ Profit after tax: 4,874 million dong.

– Approving profit distribution in 2015 and proposal for profit distribution in 2016.

– Approving the remuneration of the Board of Directors and Supervisory Board in 2015 and the remuneration plan of the Board of Directors and Supervisory Board in 2016.

– Accepting that the auditor will audit the financial report for 2016 to Deloitte Vietnam Co., Ltd.

– Approval of the Charter of Petrovietnam Packaging Joint Stock Company.

– Approval of the addition of business lines in the business license of PetroVietnam Packaging Joint Stock Company.

– Approval of the investment project of PetroBaclieu Fertilizer Plant.

– Approval of the issuance of shares to increase charter capital of Petrovietnam Packaging Joint Stock Company.

– Approved the reappointment Mr. Le Quoc Dung continues to assume the position of Director of Petrovietnam Packaging Joint Stock Company until the end of the term of the current Board.

– Approved the dismissal of members of the Board of Directors, Supervisory Board term 2015-2020 of Vietnam Petroleum Packaging Joint Stock Company.

– Through the additional election of replacement members of the Board, Supervisory Board term 2015-2020 of Vietnam Petroleum Packaging Joint Stock Company.

After more than 5 years of operation, PetroVietnam Packaging Joint Stock Company (PPC) has exploited the maximum operating capacity of the packaging factory and is gradually asserting the quality and prestige of the brand in the domestic and foreign market. In 2016, PPC will invest in expanding its production line of packaging technology with a target of 30 million bags per year to meet the needs of traditional customers and potential customers in foreign.

In order to inherit the existing advantages and prestige of the Vietnam Oil and Gas Group, PPC continues to implement the project of Bac Lieu Petroleum Fertilizer Plant to supply superior product line (Black N.Humate + TE) for the agricultural sector of Vietnam to meet the market demands in 2016. This project is evaluated to bring economic benefits and high social value with a profit of about 12 billion VND per year, contributing to the provincial budget of about 3 billion dong per year and solving work to make in locally and regionally region.

The General Assembly of Shareholders in 2016 closed with the high agreement of shareholders through the specific guidelines and action plans. The General Meeting of Shareholders assigns the Board of Directors and the Board of Management to implement the policies for the departments / employees to learn and work efficiently to strengthen the business capacity, make PPC become one of best company in Vietnam in field of packaging and fertilizer[:]