North PetroVietnam Fertilizer and Chemicals Joint Stock Company (PVFCCo North) organized successfully its 2017 Annual General Meeting (AGM) in Hanoi on April 4, 2017.

The General Meeting was honored to welcome Mr. Nguyen Hong Vinh – Member of BOD, Ms. Tran Thi Phuong Thao – Vice President, Mr. Huynh Kim Nhan – Head of Board of Supervisors and Head of various funtional divisions of PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo) as the Parent company – the biggest shareholder. The General Meeting was also attended by members of the BOD, BOM, Supervisory Board and especially PVFCCO North’s shareholders representing 86.82% of the common shares.

At the meeting, important issues were approved by the shareholders such as: Business results in 2016 and major business targets in 2017; report on BOD’s activities; report on the Supervisory Board’s activities; Financial statements in 2016 and Profit distribution method &  plan for 2016&2017…

As reported, despite a lot of difficulties in 2016, such as the unfavorable weather condition, increasingly fierce competition due to oversupply, PVFCCo North’s BOM and all employees have endeavored in great solidarity to deal with the situation and overcome hardship to complete and outperform the targets. Specifically, sales recorded 200,405 tons of fertilizer, accounting for 108% of the plan; revenue reached 1,299 billion VND, representing 102% of the plan; before-tax profits posted 25.94 billion VND, achieving 102% of the target. Besides, the Company also fulfilled other targets/requirements such as training activities for employees; building and standardization of rules, regulations &working  procedures; and corporate management etc.

Regarding the business plan in 2017, PVFCCo North proposed 180,500 tons of fertilizer to be sold; revenue and profits before tax to be earned at 1,254 billion VND and 19.56 billion VND respectively and the dividend to be paid at 12%. 

Speaking at the meeting, Mr. Nguyen Hong Vinh – Member of BOD of PVFCCo highly appreciated the accomplishment of PVFCCo North in 2016, and requested the Company’s management members and all employees to keep unitedly proposing practical solutions to improve competitiveness and overcome market’s difficulties in order to achieve business targets approved by the AGM. He committed that PVFCCo, as the Parent company and the biggest shareholder as well, would support the Company at most to ensure its future development with sustainability, efficiency and safety; so that the Company could keep thriving and maximize profit to shareholders with higher share value.

On behalf of PVFCCo North, Ms. Nguyen Thi Hong Dung respectfully extended her sincerest thanks to the leaders, business partners, customers and especially the shareholders of the Company for their constant trust, timely and efficient support to PVFCCo North that helped the Company achieve encouraging results. BOM and all employees of PVFCCo North as a whole will strive to complete and outperform the business targets for 2017 to live up to the expectation of the leaders, business partners, customers and the shareholders of the Company.

Below are some pictures of the AGM: