PVI AM held Preliminary Conference for Second Quarter of 2016, announced key tasks for the Third Quarter 2016

04:14 PM @ Tuesday - 26 July, 2016

On July 22nd 2016, at PVI Building, No.1 Pham Van Bach Street, Hanoi, PVI Assets Management Joint Stock Company (PVI AM) held Preliminary Conference for the Second Quarter of 2016 and announced key tasks for the Third Quarter of 2016 with remarkable achievements.

The conference welcomed representatives of PVI such as Mr. Nguyen Tuan Anh, Party Committee Secretary; Chairman of PVI; Mr. Bui Van Thuan, Deputy Party Committee Secretary and General Director of PVI, leaders of Standing Party Committee, the Board of Directors, the Management Board; leaders in functional departments of PVI and leaders of member units of PVI.

Furthermore, the representatives of PVI AM consist of Mr. Nguyen Ngoc Minh, a cell secretary and PVI AM’s chairman of Board of Directors, Mr. Tran Tung Linh, vice cell secretary and General Director, Mr. Luu Thanh Ha, corporate Union president along with all members in cell committee, the Board of Directors, the Management Board, the Executive Board of Union, Youth Union and key cadres and workers from the company.

Mr. Nguyen Ngoc Minh, PVI AM’s Chairman of Board of Directors and

Mr. Tran Tung Linh, General Director of PVI AM, presided over the conference.

At the beginning of the conference, Mr. Tran Tung Linh – CEO of PVI AM made brief report on the PVI AM’s operating results in the Second Quarter of 2016. There are many challenges and difficulties to PVI AM during the Second Quarter of 2016 due to the fluctuation of Vietnam’s Macro-economy as well as PVI AM’s one-year operation. However, apart from the difficulties there are a lot of opportunities especially such as the rise of the stock market due to the Brexit event. Moreover, thanks to enormous efforts and great determination of the whole staff in the company as well as specific guidance of executive committee, the Company approached the defined goals for Second Quarter of 2016, detailed: Profit completed by approximately 101.92% of goal of first quarter and 49.97% for the whole year of 2016.

Mr. Tran Tung Linh, General Director of PVI AM, presented report at the conference.

In the Second Quarter of 2016, PVI AM safely and effectively received, operated and managed the assets valued at over 8,500 billion VND from PVI and member units. In addition, it oversaw and solved any problems raised during its operating process; detailed: For management & business consulting of PVI Tower Building, 91.95% of PVI Building’s space was occupied by PVI and clients, creating high revenue; for Tay Ho Tay Project, VNX Company completed the negotiations of Contract with its Partner and has been being designed and submitted to Architecture & Planning Department.

Moreover, PVI Opportunity Investment Fund (POF) has been coming into operation stably with net profit of 24.7 billion VND in the first 6 months, by 65.7% of goal of the whole year of 2016. It is also completing procedures to receive a total of 1,000 billion VND after Capital Contributing members’ approval. In addition, PVI AM actively enhanced the management in business activities, party committee and employees

In Third Quarter of 2016, PVI AM will attempt to attain financial targets as the followings:

- Total revenue in the Quarter III of 2016 is estimated to reach VND 5 billion, and total revenue in first 9 months of 2016 is estimated to reach VND 17.4 billion; it is estimated to achieve profit before tax by 70% of goal of the whole year 2016 at the end of the Quarter III of 2016 and by 100% of goal of the whole year 2016 at the end of the year.

- Building VNX into company property management and development Company to develop THT Project and other assets; Building a streamlined, efficient model of fund management; transferring successfully PVI Securities from HNX to HSX and transferring successfully PVI Building Tower.

Therefore, PVI AM also offers goals and solutions to perform tasks in the Third Quarter of 2016

The conference also directly discussed some unsolved problems, analyzed and demonstrated the strength and the weakness of the operation & business in the Second Quarter and estimated/scheduled targets in the Third Quarter of 2016. The heads of divisions/departments perform reports on completed major activities, innovations in operation for the sake of the company’s greatest achievement. At the same time, some solutions were suggested to continue improving results and overcoming current problems towards the overall target of 2016.

Mr. Bui Van Thuan – General Director of PVI Holdings spoke

at the conference

Speaking at the conference, Mr. Bui Van Thuan praised and highly appreciated PVI AM’s achievement in the Second Quarter because of its substantial contribution to general goal of PVI system. In order to share difficulties of PVI AM, he noted that PVI AM must expand the investment portfolio, complete human resources system, expand client portfolio, and have flexible, creative, appropriate solutions so as to raise efficiency, ensure business safety, minimize risk, and boost value of the whole PVI system. Especially, PVI AM should attract clients by affirming & proving the clear and obvious management system, dominant & sharp investment ability.