Meeting to review production and business situation in the third quarter of 2019

On September 27, 2019, the Company’s Board of Directors held a meeting to summarize the third quarter of 2019 and at the same time set out directions for operations and development in the coming time.

According to the summary of the Business Department, preliminary data, in the first 9 months of the year, in general, the Company has exceeded the set plan, specifically:

1. Output: 211.9 billion VND (reaching 144% of the 9-month plan, 95% of the 2019 full-year plan)
2. Revenue: 192.7 billion VND (reaching 133% of the 9-month plan, 88% of the 2019 full-year plan)

In which, most of the Departments achieved the plan assigned, only the Industrial and Construction Departments have not achieved the plan.

Also in the meeting, the Board of Directors paid special attention and requested the operational departments to pay attention and focus on Service Quality. The departments must come up with appropriate plans from recruitment, training, personnel mobilization… as well as selecting customers and projects depending on each actual time… to ensure that PHATECO’s prerequisite criterion is to always put Service Quality first.

In addition, the Board of Directors also considers a number of joint ventures and partnerships with domestic and foreign partners to develop potential services such as:

1. Investing capital with a number of partners in the oil and gas sector in Vung Tau, establishing a Company to receive and implement projects related to maintenance and repair of storage vessels in Ghana (West Africa).
2. Cooperating with a Thai Company to develop a number of new services serving Oil Refineries, Thermal Power Plants, Oil and Gas Plants… such as: checking corrosion under bearings, checking scale in pipelines…

With the viewpoint: stopping means going backwards, the Board of Directors of PHATECO always has a long-term, broad vision to provide timely directions and changes so that PHATECO always develops sustainably, ensuring jobs & income for employees and production and business efficiency.

VU THI THU HIEN