GENERAL INFORMATION
OVERVIEW
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Transaction Name:
PetroVietnam Fertilizer and Chemicals Corporation – JSC (PVFCCo)
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Business Registration Certificate:
0303165480
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Charter capital:
VND 3,914,000,000,000
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Owner’s Equity:
VND 3,914,000,000,000
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Address:
43 Mac Dinh Chi, Da Kao Ward, District 1, Ho Chi Minh City
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Tel:
(+84.28) 3825 6258
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Fax:
(+84.28) 3825 6269
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Website:
www.dpm.vn
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Stock code:
DPM
Charter capital:
VND 3,914,000,000,000
HISTORY AND GROWTH
PetroVietnam Fertilizer and Chemicals Company, now called PetroVietnam Fertilizer and Chemicals Corporation JSC, was established under Decision No. 02/2003/QD-VPCP dated 28 March 2003 by the Minister and Chairman of the Government Office.
On 21 April 2007, PVFCCo successfully issued 40% of its shares in an initial public offering on the Ho Chi Minh Stock Exchange (HoSE). The Ho Chi Minh City Department of Planning and Investment issued Business Registration Certificate No. 4103007696 on 31 August 2007, legally incorporating PetroVietnam Fertilizer and Chemicals Joint Stock Company.
PVFCCo completed the documents and officially listed 380 million shares on the Ho Chi Minh City Stock Exchange (HoSE) on 05 November 2007. PVFCCo listed 11.4 million additional shares according to its Employee Stock Ownership Plan (ESOP) on 26 February 2016.
On 15 May 2008, the Ho Chi Minh City Department of Planning and Investment granted the Amended Business Registration Certificate No. 4103007696 to PetroVietnam Fertilizer and Chemicals Corporation - The corporation operates under the parent-subsidiary model.
MILESTONES
2001
Started the construction of Phu My Fertilizer Plant
2003-2013 PERIOD:
BUILDING AND STRENGTHENING THE FOUNDATION
2003
PetroVietnam Fertilizer and Chemicals Company was founded (predecessor of PetroVietnam Fertilizer and Chemicals Corporation - JSC)
2004
Phu My Fertilizer Plant was put into operation
2007
PVFCCo was transformed into a Joint Stock Company and listed DPM shares on HSX
2008
PVFCCo was turned into PetroVietnam Fertilizer and Chemicals Corporation - JSC
2010
Increasing the capacity of Phu My Fertilizer Plant from 740,000 to 800,000 tons per year
2011
PVFCCo Tower’s Head office was inaugurated at 43 Mac Dinh Chi, District 1, Ho Chi Minh City
2013-2023 PERIOD:
DIVERSIFYING OPERATION FIELDS - ADVANCING MOMENTUM
2013
PVFCCo celebrated 10 years of its founding and received the First - Class Labor Order
2014
Phu My Urea was recognized as the National Brand by the Government of Vietnam
2015
Operating UFC85 Factory and Petrochemical Factory, commencing a complex to increase capacity of NH3 Factory and NPK Plant
2017
Phu My Fertilizer Plant reached the output of 10 million tons
2018
Putting into operation NH3 Expanded Complex (increasing capacity by 90,000 tons/year) and Phu My NPK Plant (capacity of 250,000 tons/year using chemical technology)
2022
The year witnessed unprecedented milestones for PVFCCo in production output, revenue, and profit
2023
Phu My Fertilizer Plant reached the output of 15 million tons (on 10 October 2023)
BUSINESS LINES AND LOCATIONS
Business lines
PVFCCo’s core business is the production and trading of fertilizer and chemicals. Currently, the key products are prilled urea, Phu My NPK, Phu My Potassium, Phu My Ammonium Sulfate, Phu My DAP fertilizers targeted at the agriculture sector, liquid Ammonia and UFC85/Formaldehyde, CO2, chemicals used in oil and gas production.
Main locations
PVFCCo’s main production is at Phu My Fertilizer Plant located in Phu My 1 Industrial Park, Phu My Town, Ba Ria– Vung Tau Province.
The distributors are situated in the agricultural heartland and industrial plants in Vietnam. They form a closely-knitted distribution network of subsidiaries and their regional headquarters are located in the North, Central and Highlands, Southeast and Southwest. In addition to the domestic market, the Corporation also exports fertilizer products to many countries, predominantly in Asia.
The key customers and markets for chemicals are in the South, mainly in the oil & gas industry and industrial production sectors.
Production and sales capacity
“AS AN INDUSTRY LEADER, PVFCCo ANNUALLY MANUFACTURES
AND TRADES AROUND 1.2 MILLION TONS OF FERTILIZERS AND
CHEMICALS, MEETING THE NEEDS BOTH DOMESTICALLY AND IN
INTERNATIONAL MARKETS SUCH AS INDIA, SOUTH KOREA, AND
ASEAN, ETC.”
Production capacity
Phu My Fertilizer Plant
- Year of operation: 2004
- Capacity: 800,000 tons of urea/year - 540,000 tons of NH3/year
- Technology: Haldor Topsoe (Denmark) - NH3 production; Snamprogetti (Italy) - Urea production
Phu My NPK Plant
- Year of operation: 2018
- Capacity: 250,000 tons/year
- Chemical technology of INCRO SA (Spain)
UFC85 factory
- Year of operation: 2015
- Capacity: 15,000 tons/year
Petrochemical factory
- Year of operation: 2015
- Capacity: 4,000 tons/year
- Technology and quality standards: Baker Hughes global
Business capacity
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Fertilizers: core business segment, accounting for a significant portion of PVFCCo’s revenue and profit structure.
PVFCCo currently possesses a diverse portfolio of fertilizer products, consisting of over 40 product lines. In addition to our flagship product, Phu My Urea, we also provide a range of other fertilizers including Phu My NPK, Phu My Potassium, Phu My DAP, and Phu My Ammonium Sulfate, etc.
- Chemicals: PVFCCo’s main chemicals are specialized products, including NH3 (Ammonia), UFC85, CO2 and many specialized petroleum chemicals.
- Distribution and sales system:
4
exclusive regional distributors (North - Central - Southeast - Southwest)
68
level 1 wholesalers
97
transshipment warehouses with a capacity of 250 thousand tons
1
chemical trading branch in Ho Chi Minh City
4,407
level 2 retailers
ORIENTATION, MEDIUM AND LONG-TERM STRATEGIC OBJECTIVES
DEVELOPMENT GOALS BY 2035
Overall objectives
To consolidate its position as Vietnam’s leading fertilizer manufacturer while expanding its footprint in the manufacture and trade of other chemicals and petrochemical products, elevating PVFCCo to the leading chemical, green energy company in Vietnam.
Staged objectives
2021-2025 period
Play a leading and market shaping role in the field of fertilizers on the domestic trade, in accordance with the Government’s agricultural and rural development strategy for 2021-2025. Initially expanding operations, manufacturing chemicals, and focusing on opportunities to improve the petrochemical industry and clean energy sectors such as “green” NH3.
2026-2030 period
Expand production scale for both fertilizers and chemicals through investment, by maximizing the use of PVFCCo’s infrastructure and resources, including the existing Phu My Fertilizer Plant and Vietnam Oil and Gas Group’s Petrochemical projects.
2031-2035 period
Operate efficiently and maximize the returns from projects, become a globally recognized leader in the domestic fertilizers and chemicals industry.
VISION TOWARDS 2045
- PVFCCo will have become a leading fertilizer and chemical manufacturer, not just in Vietnam but also in the region.
- PVFCCo will have caught up with international standards and good practices concerning the application of modern production technology, will meet high standards for both product quality and environmental protection; is a proven adopter of global standards in corporate governance and customer service and will have successfully implemented its digital transformation for more effective management and enhanced customer experience;
- PVFCCo will have firmly established in the international market itself as a reputable brand, who is deeply involved in the product chain for green and clean agriculture, meets the criteria for sustainable development, actively participates in environmental protection and efforts to adapt to climate change; contributes to the development of modern agricultural production;
- PVFCCo will show our strong commitment to caring for the livelihoods of our employees and sharing what we earn with the community, through the implementation of social responsibility programs.
SPECIFIC OBJECTIVES
Fertilizer industry
- Maximize production output while using the principle of optimal efficiency while fostering sustainability.
- Optimize production processes to uphold consistent product quality at our existing Phu My NPK Plant, operating at full capacity. Increasing Phu My NPK output by new investment, association or mergers and acquisitions (M&A).
- Research and develop new fertilizers, focusing on organic fertilizers to complete Phu My fertilizer product collection, with trial products launched into the marketplace.
- Develop new urea-based products that standing out in the market and increase the competitiveness of the brand.
- Further expand NPK market share while increasing production capacity for premium-quality NPK.
- Formally enter the organic fertilizers market and claim the position of ground breakers in developing organic fertilizers.
- Continue to distribute Phu My Potassium, Phu My DAP and Phu My Ammonium Sulfate products with the aim of providing comprehensive solutions for our customers.
- Maintain/increase market share in fertilizer products, with a particular focus on the market for NPK and organic fertilizers.
- Keep pace with global fertilizer technological developments, lead the market in the development and delivery of smart fertilizers.
Chemical industry
- Improve production efficiency and business operations for current chemical products. Develop storage, sales, and manufacturing capacities for chemicals, and invest in potential chemical production like H2O2, Melamine, and offgas recovery projects.
- Mark our entry into the petrochemical business with a broad range of products (leverage collaboration with the petrochemical complex to provides NG/LNG & Condensate/ Naphtha; collaborate with oil refineries for the production of large olefins from Ethane crackers & Naphtha crackers).
- Become a large-scale chemical and petrochemical producer, with chemical sales contributing the largest portion to PVFCCo’s revenue and profit.
GOVERNANCE MODEL AND MANAGEMENT APPARATUS
GOVERNANCE MODEL
PVFCCo followed the corporate governance model as prescribed at Point a, Clause 1, Article 137 of the Law on Enterprises 2020.
ORGANIZATION AND MANAGEMENT STRUCTURE
General Meeting of Shareholders
Board of Directors
Board of Management
Supervisory Board
Functional divisions:
- BOD Office
- Internal Audit Division
- Planning & Investment Division
- Human Resources & Training Division
- Trading Division
- Marketing & Communications Division
- Finance & Accounting Division
- HSE & Technology Division
- Material and Equipment Supply Division
- Administration
Branches and Dependent units:
- Phu My Fertilizer Plant
- Petrochemicals Trading Branch
- Project Management Board
- Center of Research and Application
Subsidiaries:
- North PetroVietnam Fertilizer and Chemicals Joint Stock Company
- Central PetroVietnam Fertilizer and Chemicals Joint Stock Company
- South-East PetroVietnam Fertilizer and Chemicals Joint Stock Company
- South-West PetroVietnam Fertilizer and Chemicals Joint Stock Company
RELATED COMPANIES
In 2023, the Corporation has 04 subsidiaries and 05 Dependent Units.
Companies with over 50% shareholding
| No. | Company name | Main business lines | Charter capital (VND million) | Owned by PVFCCo |
|---|---|---|---|---|
| 1 | North PetroVietnam Fertilizer and Chemicals Joint
Stock Company (PVFCCo - North, stock code: PMB) Address: 4th Floor, 167 Trung Kinh Street, Cau Giay District, Hanoi |
Fertilizer and chemicals production and trading | 120,000 | 75% |
| 2 | Central PetroVietnam Fertilizer and Chemicals Joint
Stock Company (PVFCCo - Central, stock code: PCE) Address: Lot A2, Nhon Binh Industrial Cluster, Quy Nhon City, Binh Dinh Province |
Fertilizer and chemicals production and trading | 100,000 | 75% |
| 3 | South-East PetroVietnam Fertilizer and Chemicals
Joint Stock Company (PVFCCo - SE, stock code: PSE) Address: 27 Dinh Bo Linh Street, Binh Thanh District, Ho Chi Minh City |
Fertilizer and chemicals production and trading | 125,000 | 75% |
| 4 | South-West PetroVietnam Fertilizer and Chemicals
Joint Stock Company (PVFCCo - SW, stock code: PSW) Address: 151/18 Tran Hoang Na Street, Ninh Kieu District, Can Tho City |
Fertilizer and chemicals production and trading | 170,000 | 75% |
Companies with less than 50% shareholding
| No. | Company name | Main business lines | Charter capital (VND million) | Owned by PVFCCo |
|---|---|---|---|---|
| 1 | Dam Phu My Packaging Joint Stock Company
(PVFCCo - Packaging, stock code: PMP) Address: Phu My 1 Industrial Zone, Phu My Town, Ba Ria - Vung Tau Province |
Packaging manufacturing and trading | 42,000 | 43.35% |
| 2 | PetroVietnam Petrochemical and Textile Fiber Joint
Stock Company (VNPOLY) Address: Lot CN5.5A, Dinh Vu Industrial Park, Dong Hai 2 Ward, Hai An District, Hai Phong City |
Textile fiber production and trading | 2,165,110 | 25.99% |
| 3 | PetroVietnam Information Technology, Telecom
and Automation Joint Stock Company (PAIC) Address: 4th Floor, 167 Trung Kinh Street, Cau Giay District, Hanoi |
Information technology, telecoms and automation, clean energy | 42,352 | 8.5% |
| 4 | PetroVietnam Urban Development Joint Stock
Company (PVC Mekong) Address: Lot D - Petroleum Urban Area, Ngo Quyen Street, Ward 1, Ca Mau City, Ca Mau province |
Consulting, construction, construction materials production, real estate trading | 280,869 | 35.63% |
| 5 | Ut Xi Aquatic Products Processing Corporation Address: Provincial Road 8, Tai Van Commune, Tran De District, Soc Trang Province |
Aquaculture, Seafood processing and trading | 354,000 | 6.78% |
ORGANIZATIONAL CHART
PVFCCo MANAGEMENT
BOARD OF DIRECTORS
Mr. NGUYEN XUAN HOA
Position: Chairman of the BOD (elected to the BOD on 29 March 2024)
DOB: 1972
Qualifications: Bachelor of Finance and Accounting, Master of Business Administration
Mr. PHAN CONG THANH
Position: Member of the BOD (elected to the BOD on 29 March 2024)
DOB: 1974
Qualifications: Engineer, Master of Chemical Engineering Technology
Mr. NGUYEN NGOC ANH
Position: Member of the BOD (elected to the BOD on 27 June 2023), in charge of the BOD from 27 October 2023 to 29 March 2024
DOB: 1982
Qualifications: Master of Construction Management, Civil Engineer
Mr. TRINH VAN KHIEM
Position: Member of the BOD
DOB: 1973
Qualifications: Bachelor of Business Administration
Mr. HO QUYET THANG
Position: Independent member of the BOD (elected to the BOD on 27 June 2023)
DOB: 1970
Qualifications: Mechanical Engineer, Bachelor of Economics
Mr. LOUIS T NGUYEN
Position: Independent member of the BOD (resigned on 27 June 2023)
DOB: 1963
Qualifications: Bachelor of Accounting and Finance
Mr. LE CU TAN
Position: Member of the BOD (resigned on 27 June 2023)
DOB: 1967
Qualifications: Master of Automation Engineering, Marine Engineer, Bachelor of Business Administration
Mr. HOANG TRONG DUNG
Position: Chairman of the BOD (resigned as Chairman and Member of the BOD on 27 October 2023 and 29 March 2024 respectively)
DOB: 1973
Qualifications: Master of Economics, Technology Engineer
Mr. DUONG TRI HOI
Position: Member of the BOD (resigned on 29 March 2024)
DOB: 1978
Qualifications: Industrial Electricity Engineer, Bachelor of Economics in Investment Planning
BOARD OF MANAGEMENT
Mr. PHAN CONG THANH
Position: President and CEO (appointed on 25 January 2024)
DOB: 1974
Qualifications: Engineer, Master of Chemical Engineering Technology
Ms. TRAN THI PHUONG THAO
Position: Vice President
DOB: 1970
Qualifications: Bachelor of Economics in International Trade
Mr. CAO TRUNG KIEN
Position: Vice President
DOB: 1976
Qualifications: Bachelor of Economics
Mr. DAO VAN NGOC
Position: Vice President (in charge of the BOM from 27 October 2023)
DOB: 1977
Qualifications: Master of Business Administration, Refinery and Petrochemical Engineer
Mr. TA QUANG HUY
Position: Vice President
DOB: 1978
Qualifications: Chemical Engineer
Ms. LE THI THU HUONG
Position: Vice President (resigned on 15 August 2023)
DOB: 1975
Qualifications: Master of Business Administration
Mr. LE CU TAN
Position: President and CEO (resigned on 27 October 2023)
DOB: 1967
Qualifications: Master of Automation Engineering, Marine Engineer, Bachelor of Business Administration
Mr. LE VAN QUOC VIET
Position: Vice President (retired from 01 June 2023)
DOB: 1962
Qualifications: Bachelor of Economics in Planning
Mr. VO NGOC PHUONG
Position: Chief Accountant
DOB: 1978
Qualifications: Bachelor of Finance (Money and Credit)
SUPERVISORY BOARD
Mr. HUYNH KIM NHAN
Position: Chief Supervisor
DOB: 1976
Qualifications: Bachelor of Corporate Finance, Master of Business Administration
Mr. LUONG PHUONG
Position: Member of the SB (re-elected to the SB on 27 June 2023)
DOB: 1973
Qualifications: Bachelor of Finance and Credit
Ms. TRAN THI PHUONG
Position: Member of the SB (elected to the SB on 27 June 2023)
DOB: 1979
Qualifications: Master of Business Administration, Certified Accountant (issued by the Ministry of Finance)
Mr. LE VINH VAN
Position: Member of the SB (resigned on 27 June 2023)
DOB: 1969
Qualifications: Bachelor of Economics in Finance and Accounting