PV Building Youth

 After 8 years of establishment with 3 restructurings, Petroleum Housing and Trading Joint Stock Company has gradually become an effective business enterprise with revenue growth compared to the annual plan exceeding from 127% to over 900%.

Packaging production line

Nắm bắt cơ hội

PV Building’s equity is contributed by shareholders, including: Binh Son Refining and Petrochemical Company Limited, Cam Thanh Guest House (under the Quang Ngai Provincial Party Committee Office) and a part of individuals and employees working at PV Building.

Mr. Tran Doan Thinh – Director of PV Building

Immediately after its establishment in March 2009, the company’s management focused on receiving and handing over the management of housing areas invested by the Vietnam Oil and Gas Group in Quang Ngai. Although the field of operation is still new, the unit has found the right and effective direction. In addition to ensuring accommodation for more than 1,000 officials and employees of the Oil and Gas industry in Quang Ngai, with the permission of the Vietnam Oil and Gas Group, the company has optimized the amount of houses available for business, for rent to domestic and foreign experts and contractors. In addition, the company has completed a scientific organizational structure and a complete system of internal regulations and legal documents to prepare for the next stage of development. 2010 marked the company’s growth with a revenue target of 454.9% increase compared to 2009. In addition to the service house management activities in the industry, the company signed and implemented a contract to provide all logistics services (accommodation, meals, shuttle vehicles…) with the Korean contractor SK Energy (consultant contractor to assist in operating the Dung Quat Oil Refinery) with more than 100 senior experts during the contractor’s time working in Dung Quat. In addition, the company began to expand some other logistics activities for units in the industry, especially serving the oil refinery. With 12 people when it was first established, in 2010, the company had 162 people with a stable average income of 4.1 million VND/person/month. On the growth momentum, in 2011, the company achieved great results in revenue, increasing 945.6% compared to 2010 (reaching 400,922 billion VND). The above results were achieved because the company successfully participated in the business of Polypropylene products of Dung Quat Oil Refinery and provided input materials for Dung Quat Ethanol Plant. Average income per capita in 2011 reached 5.19 million VND/person/month, an increase of 126.6% compared to 2010… The stable growth rate continued to be maintained by the company in the following years. Notably, since October 2013, PV Building received capital contribution from BSR in the form of assets of Dung Quat Packaging Factory with a value of more than 120 billion VND, expanding its business line to produce packaging from Kraft paper and printing on products. This activity has brought a stable source of profit and is one of PV Building’s key activities in its development goals.

Talking to reporters of the Industry and Trade Newspaper, Mr. Tran Doan Thinh – Director of PV Building – said: After 8 years of operation with 3 restructurings, the company’s charter capital has increased from 55 billion VND (in 2009) to over 175 billion VND (in 2016). In terms of revenue, there has been a huge growth each year, especially after 5 years of operation, the company’s revenue increased more than 150 times from 9.32 billion VND in 2009 to 1,448.51 billion VND in 2013. The rapid change in revenue in these years is mainly due to the plastic pellet business. This is a commodity with high economic value, so the consumption output almost determines the growth rate of the entire company’s sales. Thanks to appropriate sales policies, annual sales output always reaches and exceeds the previous year, despite the fluctuating market and fierce competition from businesses in the same industry.

By becoming a public company since July 2016, PV Building has made a new step forward in transparency in production and business activities through the stock market. This is considered a foundation to concretize and realize the goals in the development process of the company.

Creating momentum for development

By 2020, PV Building has determined the goal: Continue to expand the scale, build a sustainable and comprehensive company. Accordingly, the direction is to become a leading logistics enterprise serving the Oil and Gas industry in the Central region; the company’s products are always maintained and innovated with high quality, stability, perfect service, at the same time gradually strengthen the construction of human resources with high professional qualifications and management experience, in order to gradually replace the management team and workers who do not meet the needs. In particular, the company focuses on consolidating and developing its operations in three main areas: Production and trading of packaging products, trade and logistics services, in which it strives to become a reputable packaging manufacturer in the national market with all existing product lines; increasing operating capacity every year; increasing the proportion of export goods in the revenue structure to ensure that the factory always operates safely and effectively.

PV Building owns a team of young, dynamic and competent staff, whose work experience is always cultivated and matured every day to affirm professionalism in the fields that the company is implementing.

Source: baocongthuong.com.vn