
According to the Q4 2023 report, PV GAS is holding a “huge” amount of money with nearly 41,000 billion VND in cash and deposits, an increase of 18% compared to the beginning of the year, bringing in about 5.5 billion VND in interest from bank deposits every day.
On the stock market, PV GAS is a leading company in terms of cash ownership, with very good production and business results in 2023, but the stock price has not been performing well recently.
In response to the media’s question about this issue on the afternoon of March 5th, Mr. Nguyen Cong Luan, Deputy General Director of PV GAS, said that compared to the total assets of about 90,000 billion VND of PV Gas, the amount of cash is not significant.
“PV GAS always focuses on investment. From now until 2035, PV GAS will have many large investment projects. We consider this cash as a source of resources for investment, creating additional value, bringing in more revenue and profits for PV GAS in the future. As for the stock price, we are very concerned. However, we can only do our best in relation to production and business to create the best value for shareholders, while the stock price is determined by the market” – Mr. Luan said.
PV GAS leadership answers questions about the amount of cash
In 2023, PV GAS exceeded the planned targets and achieved impressive achievements such as: revenue of 116,000 billion VND, completion of increasing charter capital…
Especially, PV GAS has completed the LNG (liquefied natural gas) storage facility project with a capacity of 1 million tons at Thi Vai from July 2023, and is the only unit in Vietnam to have been granted a Certificate of Eligibility as an LNG export and import trader up to the present time.
At the event, PV GAS announced that it will start supplying LNG for industrial production from March 15th, following the integrated business model of LPG (liquefied petroleum gas)/CNG (compressed natural gas)/LNG, bringing customers a diverse range of products, flexible supply sources, and competitive prices.
LNG, with its outstanding advantages in energy efficiency, environmental friendliness, convenience in transportation, and guaranteed supply according to PV GAS’s commitment, is the main product in PV GAS’s Optimal Energy Solution package for the market. The distribution of LNG by tanker trucks, ships, and trains will ensure a continuous, efficient, and high-performance energy supply chain.
