A listed oil and gas company owns a series of properties worth millions
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A listed oil and gas company owns a series of properties worth millionsThis oil and gas company’s revenue in the first nine months of 2023 reached trillions of dong, but its profit was less than 10 billion. Petro Times was formerly known as Hai Phong Petroleum Materials Trading Joint Stock Company. It was established in 2015 with a registered capital of 4.5 billion VND. As of now, the company’s registered capital is 157.5 billion VND. The legal representative is Mr. Pham Pham Ki.
On June 26, 2023, Petro Times’ PPT shares were approved to be listed on HNX for 15 million shares with a face value of VND 10,000 per share, equivalent to a total value of securities registered for transactions of 150 billion copper. The reference price on the first trading day is VND16,100/share. As of the close of trading on January 5, 2024, PPT fell 1.85% to VND10,600/share, which is equivalent to a 35% drop in market price compared to when it was newly listed.
From a business perspective, in the first nine months of 2023, Petro Times recorded revenue of nearly VND2,222 billion, an increase of 42% compared with the same period in 2022, but its after-tax profit was VND6.5 billion.
As of September 30, 2023, Petroleum Era’s total assets reached more than 501 billion VND, of which short-term assets reached 311 billion VND, accounting for 62% of total assets.
| PPT invests in 9 villa land, commercial services and housing projects in Trang Due, Anyang District, Hai Phong City (Source: 2023 Third Quarter Financial Statement) |
It is worth noting that Petro Times has invested in 9 villa sites in Trang Due urban area of Hai Phong City, commercial services and housing projects in An Duong District of Hai Phong City, and 3 gas stations in Dak Glong District of Dak Nong Province; the total value exceeds 92 billion Vietnamese dong.
In addition, Petro Times owns 2 pieces of land in the Lach Tray riverside area of Hai Phong City, with a book value of more than 20 billion VND.
Remember, in the last month of 2022, Oil Times approved the company’s real estate purchases.
Specifically, in order to serve the company’s mid- to long-term business implementation plan, the PPT board of directors decided to purchase the property. The purpose of the acquisition is to build gas station operation infrastructure, warehouse leasing, logistics and investment real estate. The implementation time is December 2022.
It is worth noting that among the land that Petroleum Age plans to purchase, the most valuable land parcel is owned by Mr. Fan Wenqi, Chairman of the Board of Directors of Petroleum Age. specific information:
The first real estate: the land use rights, houses and other ancillary assets of Lot No. 329 and Lot 48 in Fuxian Township, Dinghe County, Taiyuan Province. The land area is 80 square meters – the owner of the land, house and other ancillary assets is Mr. Fan Wenqi.
The estimated transfer price of the land is VND 11.5 billion, equivalent to an average price of approximately VND 143.75 million per square meter.
Second real estate: land use rights, house ownership and land-attached assets within the land parcel:
+ Plot number 73, map number 48, located in Futian Commune, Dinghe County, Taiyuan Province. The plot area is 43.1 square meters.
+ Plot No. 330, Map No. 48, both located at the same address in Phu Tien Commune, Dinh Hoa District, Thai Nguyen Province. The plot area is 91.5 m2.
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