Recently, Phuoc An Port Investment Petroleum Joint Stock Company (MCK: PAP, UPCoM) appointed Tran Thi Hien Luong, born in 2002, as Deputy General Director effective from August 15. This decision drew attention as Luong is the daughter of board member Tran Nhan Tam, who was appointed to the board in the annual general meeting of 2024 and currently holds over 5.2 million PAP shares. With this appointment, Luong joins a 5-member management team at Phuoc An Port. In terms of business performance, PAP continues to report significant losses, with over 125 billion VND loss after tax in Q2 2025, bringing the 6-month cumulative loss to 248 billion VND. Revenue recorded was just over 19 billion VND while financial costs and cost of goods sold were very high. PAP expects to have a total loss of nearly 450 billion VND in 2025, while the revenue target has only been achieved by 25%. As of June 30, 2025, the total assets of Phuoc An Port reached 8,491 billion VND.
Leave a Reply