(VEN) - The Petroleum Industrial and Civil Construction Joint Stock Company (PVC-IC) officially listed its share, PXI, on the Ho Chi Minh Stock Exchange (HOSE) in late June 2010. This was an important event marking the growth of PVC-IC, a member of the PetroVietnam Construction Joint Stock Corporation (PVC) which has had the honor to receive a Golden Cup for being recognized as a Typical Vietnamese Business.
Operating in the field of building oil and gas projects, since 2008 PVC-IC has realized and exceeded all the revenue and profit targets. In 2009, the value of construction projects carried out by PVC-IC totaled more than VND1.2 trillion; its revenue exceeded VND1.1 trillion; profit more than VND36 billion; and the average income reached nearly VND7 million per person per month. In the first six months of 2010, PVC-IC made revenue of more than VND800 billion and a pretax profit of over VND40 billion, up more than 200 percent compared with the first half of 2009. The number as well as the size of projects carried out by the company has increased. PVC-IC has built large projects such as the Phu My Hung Oil and Gas Financial Center, the Dragon Tower office building, the Petrovietnam Landmark tower, the tower at 43 Mac Dinh Chi, the headquarters of Vietsovpetro, and the Sao Mai - Ben Dinh port project. In the second half of 2010 the company's revenue is projected to be more than VND800 billion and pretax profit to reach about VND50 billion.
Ho Si Hoang, the general director of PVC-IC, said, "PVC-IC is a company that has a healthy financial situation and an ISO 9001:2008 quality control system. The effectiveness of the company's operations has improved annually. PVC-IC provides investors with clear information and data. All financial reports of the company are audited to ensure transparency and publicity. Notably, PVC-IC makes investors aware of the company's potential for sustainable development as well as the benefits that they can obtain from buying its share. PVC-IC will build and maintain good relationships with investors, listen to their opinions and share information with them. The company will pay attention to ensuring shareholders' interests when making important decisions. PVC-IC is confident to promise investors that they can make a high profit when investing in PXT share of the company.
Regarding PVC-IC's strategic objective, Ho Si Hoang said that the company is making further efforts to become a key construction company of PVC, which meets international standards. PVC-IC hopes that in the near future it will be able to stand among the top companies that specialize in building industrial and civil projects, high-rise buildings and infrastructure facilities, playing the role of an EPC (Engineering - Procurement - Construction) contractor. To develop in a sustainable manner, PVC-IC will restructure and expand its operations in the fields of real estate, industrial and infrastructure development. In 2010-2015, the company will focus on three fields: industrial construction, real estate business and services. By 2015, the value of projects that are carried out by PVC-IC is projected to total VND10 trillion, revenue to reach VND8.5 trillion, pretax profit to hit VND510 billion, the average income to reach VND20 million per person per month. PVC-IC also expects that by 2015 all workers of the company will have accommodations. Every year, it will donate more than VND5 billion to social organizations. PVC-IC wants to become one of the top construction companies in Vietnam. It is hoped that with its rapid growth and dynamism, PVC-IC will make further success and continue to win investors' trust./.
Kieu Suong
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