The company plans to establish a subsidiary with a capital of 500 billion VND, but continues to incur losses in the third quarter.
The Board of Directors of Phuoc An Port Exploitation and Petroleum Joint Stock Company (stock code: PAP) has just issued Resolution No. 97/NQ-PAP dated November 10, 2026, approving the policy of contributing capital to establish a wholly-owned subsidiary.
According to the resolution, the proposed legal entity is named Phuoc An Investment One-Member Limited Company, abbreviated as PAI MTV Co., Ltd, with its headquarters located at Phuoc An Port, Ba Truong Hamlet (Phuoc An Commune, Dong Nai Province).
The new company is expected to have a charter capital of 500 billion VND, with Phuoc An Port holding the entire capital contribution. The establishment capital will be raised from the company's legal capital sources, including equity capital and other legal capital sources as prescribed.
The capital contribution will be made according to the schedule organized by the General Director, ensuring compliance with the Enterprise Law, the company's charter, and relevant regulations.