PVOIL Wants to Push for the Bankruptcy of Its Affiliated Company to Switch to HOSE

On April 25, 2025, PVOIL plans to hold a General Meeting of Shareholders to discuss a plan to allocate a provision for the decrease in value of its investment in PetroVietnam Gas and Biofuels Joint Stock Company (PVB), where PVOIL owns 39.76% of shares. The biofuel refinery project of PVB has been proposed for dissolution since 2018, and PVOIL is currently seeking advice to implement a bankruptcy plan for PVB. Completing this process is seen as essential for PVOIL to eliminate audit qualifications, a crucial requirement for moving its listing from UPCoM to HOSE. If successful, PVOIL could realize this listing plan in 2025, alongside reporting revenue of 124.46 trillion VND and a net profit of 474 billion VND in 2024.