Established with initial charter capital of 19.2 billion VND
CNG Vietnam Joint Stock Company was established on 28/5/2007 in accordance with Investment Certificate No. 492032000040 issued by the Industrial Park Management Agency of Ba Ria - Vung Tau Province with initial charter capital of 19.2 billion VND from the founding shareholders: Drilling Mud JSC (DMC) (51% charter capital), IEV Energy Sdn. Bhd. (Malaysia) (42% charter capital) and Son Anh Co., Ltd (7% charter capital).
Sharply increased charter capital to 67.2 billion VND. First CNG Plant in Phu My 1 Industrial Park
CNG Vietnam’s first plant was located in Phu My 1 Industrial Park, Ba Ria - Vung Tau Province with an initial capacity of 30 million Sm3 per year (equivalent to 33,000 tons of LPG per year), put into operation on 03/09/2008.
Expanded the market, raised the capacity of Phu My CNG Plant to 70 million Sm3
In 2009, PVGas agreed to transfer the whole capital stake in CNG Vietnam to PVGas South. CNG Vietnam continued to expand the CNG distribution market...
Increased charter capital to 125 billion VND
In 2010, in order to invest in operational expansion projects, CNG Vietnam issued 5,780,000 shares to increase the charter capital from 67.2 billion VND to 125 billion VND for existing shareholders, key staffs and strategic shareholders in accordance with GMS’s Resolution No. 314/NQ - DHCD/2010 dated 02/04/2010.
CNG Vietnam’s total capacity officially reached 70 million Sm3 and supplied CNG for 21 customers
From March 2011, after the compressing stations fully went into operation, CNG Vietnam’s total capacity officially reached 70 million Sm3 which supplied CNG for 21 customers in Nhon Trach, Binh Duong, Ho Chi Minh City and Long An.
Issued ESOP shares and increased charter capital to 213.28 billion VND
In accordance with GMS’s 2011 resolution on issuing shares for employees at the rate of 5% of charter capital (ESOP 2011), the BOD issued Resolution No. 01/NQ- HDQT/2012 to approve the share distribution under ESOP 2011 and completed the capital increase of 5% to 213.28 billion VND.
Increased charter capital to 270 billion VND and approved dividend rate of 35%
On 25/09/2013, State Securities Commission of Vietnam approved the additional issue of shares to increase the Company’s charter capital from 213.28 billion VND to 270 billion VND.
Northern Branch was put into operation
On 08/07/2014, CNG Vietnam approved the Regulations on organization and operation of the Company’s Northern Branch.
Total consumption volume increased sharply to 94.3 million Sm3
The year 2015 recognized the success of CNG’s strategy to expand into Northern region. CNG Vietnam officially supplied gas in this region, bringing the total CNG consumption volume to approximately 94.3 million Sm3, saw a strong growth of 26% compared to 2014.
PVGas became a major shareholder with 56% holding
On 14/03/2016, PVGas became a major shareholder of CNG Vietnam with a holding rate of 56% charter capital after purchasing the whole shares from PVGas South.
10th Anniversary of the establishment of CNG Vietnam Joint Stock Company
The number of customers and gas consumption volume increased significantly. Revenue and profit both exceeded 35-40% of the plan.
Restructured and rearranged the organizational structure of the Company’s office
Restructured and rearranged the organizational structure of the Company’s office. Customer portfolio continued to grow sharply. Shareholders’ equity reached 537 billion VND, increased by 11.8% compared to the previous year.
The Company continued to make progress despite of difficulties and challenges
Gas consumption volume amounted to 192.16 million Sm3, exceeded 23% of the business plan, and 17% higher than the previous year. Total revenue in 2019 was recorded at 2,146.74 billion VND, exceeded 23% of the plan, in which revenue from main business activities (CNG) reached 2,130.39 billion VND, 22% higher than the plan. Profit before tax was 107.6 billion VND, and profit after tax reached 84.4 billion VND, respectively equivalent to 102% and 100% of the annual plan.
Completed the purchase of CNG system in the North
The Company completed the purchase of CNG system in the North. Despite a year of unprecedented difficulties such as the Covid-19 pandemic, plunged oil prices, the Company’s total revenue was recorded at 2,351.1 billion VND to reach 105% of the plan, and profit after tax reached 51 billion VND, 6% higher than the annual plan.
Overcoming negative impacts of the Covid-19 epidemic, CNG Vietnam successfully completed its business and production targets for the year
Overcoming several difficulties and challenges in the year of 2021, CNG Vietnam promptly adjusted its business strategy to respond to the epidemic while successfully completed the production and business targets set by General Meeting of Shareholders with a total CNG consumption volume of 274.31 million Sm3, reaching 113% of the plan, revenue from gas sales of VND 2,337.9 billion, achieving 129% of the plan.