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BSR finalizes a schedule for the 2024 Annual General Meeting of Shareholders

Binh Son Refining and Petrochemical Joint Stock Company (BSR, UPCoM: BSR) will organize the 2024 Annual General Meeting of Shareholders on May 23 in Ho Chi Minh City, the company said in a statement.

 

Dung Quat Refinery

Previously, in a filing submitted to the Vietnam Securities Depository and Clearing Corporation, BSR announced that the last registration date to finalize the list of shareholders attending the 2024 Annual General Meeting of Shareholders was April 22, 2024.

Shareholders who register and attend directly at the venue will need to bring their ID or Citizen Identity card/Passport, invitation letter, power of attorney, and be provided with information to sign in and vote at the General Meeting.

It is expected that the General Meeting will approve the Report on production and business in 2023 and the 2024 business plan; the Report on the Board of Directors' activities in 2023 and working plans in 2024; the Report on the activities of the Supervisory Board in 2023 and working plans in 2024; and so on.

According to forecasts, in 2024, crude oil crack spreads (accounting for nearly 40% of BSR's revenue) will increase, supporting the company's gross profit margin. BSR is also continuing to overcome obstacles, planning to be listed on the HSX in 2024, promising to increase stock liquidity and the ability to raise capital for the project to upgrade and expand Dung Quat Oil Refinery. The average oil price in 2024 is estimated to fluctuate at a high level, which will continually maintain BSR's actual business performance at a stable level higher than planned.

VNDIRECT Securities Corporation expects profits in 2024 to decrease due to maintenance. However, BSR's current stock valuation remains attractive, thanks to BSR's higher profitability and performance compared to other companies in the same industry in the region.

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Binh Son Refining and Petrochemical Joint Stock Company