Petrolimex has just sent shareholders documents before the 2025 extraordinary general meeting of shareholders. This meeting aims to approve the plan to merge Petrolimex Petroleum Services Corporation (PTC) into this group.
Petrolimex wants to merge Petrolimex Petroleum Services Corporation into this group - Photo: QUANG DINH
At the extraordinary shareholders' meeting in 2025, which will take place on March 28, Petrolimex plans to submit to shareholders for approval the merger and merger plan of Petrolimex Petroleum Services Corporation (PTC) into this group.
PTC was established in 2017, with initial charter capital of 300 billion VND. PTC's main business lines and activities are road petroleum transportation services and petroleum trading.
PTC's organizational structure includes the parent company, 6 member companies which are transportation companies and 3 affiliated branches.
Reviewing its recent operations, Petrolimex said that parent company PTC has not yet demonstrated its role in centralized management of transportation activities. The rationalization of transportation dispatching has not made significant progress compared to before the establishment of PTC, and has not met the requirements and orientation of centralized dispatching of the group.
In addition, transportation activities have not had many positive changes in efficiency, transportation contracting has not been implemented, a centralized transportation dispatch model has not been built, and conditions have not been created to optimize logistics work on freight transportation routes.
"Costs arising from the operations of the parent company's office - PTC increase PTC's operating costs and the business costs of the entire Petrolimex chain," the petroleum group emphasized.
The annual profit that Petrolimex receives from PTC/Petrolimex's investment capital is still low and not commensurate with the scale of the group's investment capital.
In particular, according to Petrolimex, with PTC's current model, the group will have difficulty implementing advances in information technology to fundamentally change the centralized, direct management/administration model to optimize the operation and resources of the entire system.
Therefore, Petrolimex has conducted research, developed and agreed on the content of the PTC restructuring project according to the plan to merge this corporation into the group.
After the merger, Petrolimex's charter capital is more than 12,900 billion VND. The merger of PTC into the group does not change the group's legal representative, business lines, members of the Board of Directors, members of the Supervisory Board, general director, etc.
Source: https://tuoitre.vn/che-lai-nhan-duoc-tu-dau-tu-chua-xung-petrolimex-muon-sap-nhap-mot-tong-cong-ty-von-300-ti-20250310222945422.htm
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