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BSR: Notice of the prosecute and detention with Mr. Vu Manh Tung – Vice General Manager of the Corporation
On 02 May 2018, Binh Son Refining and Petrochemical Company Limited announced Notice of the prosecution and detention with Mr. Vu Manh Tung – Vice General Manager of the Corporation as follows:
On 27 Apr 2018, Department of Inspectors of Ministry of Public Security issued Decision on prosecuting defendant and Order on arresting defendant for temporary detention and Examinational order with Mr. Vu Manh Tung. Year of birth: 1974, Vice General Manager of Binh Son Refining and Petrochemical Company Limited for “Abuse of title and authority to appropriate property” as Article 355 of the Criminal Law issued in 2015
Relate to this issue, Binh Son Refining and Petrochemical Company Limited reported to competences authorities and will continue cooperating with functional authorities to clarify the case
Temporary detention with Mr. Vu Manh Tung is the personal stuff in previous terms and does not affect the operations of the Company
In 2017, although getting a lot of challenges and difficulties, the Company still reached and exceeded a lot of targets: Production reached over 6.1 million tons; Revenue reached VND 82.021 billion; Payables for the State Budget: VND 9,872 billion; Profit after tax reached VND 7,712 billion. In QI/ 2018, Dung Quat Factory still operated stably and effectively at the capacity: 108 – 110%. The Company produced 1.7 million tons of products, reached 110.8% of quarter plan; Revenue temporarily reached 24,091 billion and reached 125.1% of plan of Quarter I; Payables for the State Budget reached 2,720 billion and profit reached VND 1,293 billion, 132.3% of payables plan and 146.4% of profits plan of Quarter I
The Company also completed equitizing at 17 Jan 2018. The Company auctioned successfully 242 million shares (7.79% of shares) at HOSE. Proceeds of VND 5,417 billion increased by 60% compared with expectation. On 01 mar 2018, BSR was listed on Upcom with the reference price of VND 22,400 per share and BSR is offering 49% of shares for strategy investors
The Company will successfully complete given targets and plans
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