PetroVietnam Transportation Corporation (PVTrans) has announced its plans to issue bonus shares for the year 2024.
Specifically, the company proposes to issue over 113.9 million bonus shares to its shareholders at a ratio of 100:32, meaning that for every 100 shares held, shareholders will receive 32 new shares. The record date for this distribution is set as June 20, 2025.
The total value of the issuance, based on par value, exceeds VND 1,139.2 billion. This capital will be sourced from the company’s undistributed post-tax profits for 2024.
This proposal was approved by PVTrans’ shareholders during the 2025 Annual General Meeting held on April 15, 2025, with the aim of bolstering capital for production, business operations, and investment plans.
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In 2025, PVTrans targets an investment of VND 3,551 billion, including VND 3,525 billion (USD 141 million) for the purchase of new vessels. The company will continue projects from 2024, including investing in 1 MR product tanker or 1 bulk carrier (USD 29 million), 2 MR product tankers or 1 Aframax crude oil tanker (USD 52 million). Additionally, PVTrans plans to acquire 1 LPG/VLGC vessel or 1-3 oil tankers for a total of USD 60 million, utilizing a combination of VND 1,261 billion in equity capital and VND 2,290 billion in borrowed capital.
Regarding business targets, PVTrans forecasts consolidated revenue of VND 10,300 billion and post-tax profit of VND 960 billion for 2025, both lower than the previous year’s performance.
In a separate development, PVTrans recently released documents for a written vote by shareholders on matters related to the dismissal and election of members to the Board of Directors and the Supervisory Board for the term 2025-2030.
On June 2, 2025, the company dispatched voting papers to shareholders based on the list finalized on May 26, 2025. The deadline for receiving these papers is 1:00 PM on June 12, 2025.
Mr. Truong Hong Son (born in 1968) is the proposed candidate for the position of Member of the Board of Directors of PVTrans. He holds a Bachelor of Laws from Odessa National University (former Soviet Union); a Master of Oil and Gas Law from Oxford University of Oil and Energy and the University of Dundee, UK; and a Certificate in Advanced Political Theory from the Ho Chi Minh National Academy of Politics.
Mr. Son previously served as Head of the Legal and Inspection Division of the Vietnam National Oil and Gas Group, and as an Independent Member of the Board of Directors of PetroVietnam Gas Joint Stock Corporation (PV Gas). Since April 2024, he has been a Member of the Board of Directors of PetroVietnam Gas Joint Stock Corporation.
Additionally, Mr. Cao Trong Tuan (born in 1981) is nominated for the Supervisory Board of PVTrans. He holds a Bachelor of Engineering in Organic Chemical Engineering from Hanoi University of Technology. Since the end of March 2023, Mr. Tuan has been the Secretary, Member of the Members’ Council, and Director of Petroleum Tra Vinh One-Member Limited Liability Company.
Prior to this, Ms. Nguyen Linh Giang had submitted her resignation from the position of Member of the Board of Directors of PVTrans for the term 2021-2026. Ms. Giang was appointed to this position on June 15, 2025, and has held several important positions within PVTrans, including Head of Internal Audit Division from November 2012 to December 2017, and Deputy General Director from December 2017 to June 20, 2021. She also served as Chairman of the Board of Directors of Vietnam-Japan Transport Joint Stock Company, Member of the Board of Directors of Southern Petroleum Transport Joint Stock Company, and Chairman of the Board of Directors of International Petroleum Product Transport Joint Stock Company, among others.
Meanwhile, Ms. Truong Thi Anh Dao also submitted her resignation from the position of Chief of the Supervisory Board of PVTrans for the term 2021-2026 due to personal reasons.
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