“Late Disclosure: Vosco Reminded to Speed Up Information Release”

The Ho Chi Minh City Stock Exchange (HoSE) has issued a reminder to the Vietnam Maritime Transport Joint Stock Company (Vosco) regarding its delayed disclosure of board resolutions.

According to a document dated May 9, 2025, HoSE received a correspondence from Vosco on the same day, explaining its delay in fulfilling its information disclosure obligations. Specifically, the company had adopted board resolutions regarding transactions valued at over 10% of the company’s total assets as reported in the latest audited annual financial statements or reviewed semi-annual financial statements, without disclosing the following information:

Board Resolution No. 27/NQ-HĐQT dated February 5, 2024, approving the sale of the Đại Minh vessel with a value of 292,680,000,000 VND, equivalent to 10.78% of total assets;

Board Resolution No. 58/NQ-HĐQT dated October 7, 2024, approving the purchase of the Elikon vessel with an expected project value of 427,000,000,000 VND, equivalent to 13.15% of total assets;

Board Resolution No. 60/NQ-HĐQT dated November 1, 2024, approving the purchase of the Mytras vessel with an expected project value of 445,620,000,000 VND, equivalent to 13.72% of total assets;

Board Resolution No. 64/NQ-HĐQT dated November 26, 2024, approving the purchase of the Lista dry bulk vessel with an expected project value of 428,064,000,000 VND, equivalent to 13.18% of total assets;

HoSE noted that Vosco failed to disclose Board Resolutions No. 27/NQ-HĐQT, 58/NQ-HĐQT, 60/NQ-HĐQT, and 64/NQ-HĐQT within the stipulated timeframe.

Therefore, HoSE reminded and requested Vosco to supplementarily disclose the aforementioned Board Resolutions and diligently comply with legal regulations pertaining to the stock market to safeguard shareholders’ interests.

In terms of business performance, Vosco recorded consolidated revenue of VND 5,576.1 billion in 2024, a 74.9% increase compared to the previous year. Its post-tax profit reached VND 335.3 billion, surging by 115.8% year-on-year. The company’s audited consolidated financial statements for 2024 reflected a substantial surge in other income, amounting to over VND 393.2 billion, attributable to the sale and disposal of fixed assets.

For 2025, Vosco has set its business plan with a total revenue target of VND 5,300 billion, representing a 12.1% decrease compared to the previous year’s performance. The company expects a pre-tax profit of VND 376 billion, indicating a 10% decline from the previous year.

Vosco intends to continue seeking opportunities to invest in or lease additional vessels through various suitable arrangements, focusing on Supramax and Ultramax dry bulk carriers, MR product tankers, chemical tankers, and container ships.