student: do thi thuy dung id: 0953040017 group: 9
TRANSCRIPT
OverviewPart 1: Overview of PVD
Part 2: The relationship between Vietnamese financial markets and corporate financial management of PVD
Part 3: Analyzing typical information from PVD financial statement
I. Overview of PVDMember of PV CorpPetroVietnam Drilling and Well Services
JSC was established in 2001It began operation as a joint stock company
in 2005It was officially listed on Vietnam's stock
market with the stock code “PVD" with an initial capital of VND 680 billion in 2006
Headquarter: Floor 2-3, Nam Ki Khoi Nghia Building, Nguyen Thai Binh, Dis 1, HCMC
PVD offers technical services to the oil
and natural gas industry. The Company offers drilling and work-over contracting; chartering and operating drilling rigs; well testing, cementing, wire-line logging, tubular handling and other services; and engineering, fabrication, installation, inspection, refurbishment and maintenance of tools
Source: http://www.pvdrilling.com.vn/index.php?module=about&id=7
In the annual shareholders’ meeting report 2008 of PV Drilling, the chairman announced the raising the charter capital up to 1.321.676.760 VND.
Additional capital for investing projects of PVD’s subsidiaries
Reduce the financial burden of having to get bank loans with high interest rates.
Source: http://pvdrilling.com.vn/index.php?module=announcement&function=detail&year_id=11&c_id=2&id=61
On August 19, 2011, PVD has announced the resolution of buying back 1 million shares.
Aims to stabilize the stock price and the purchase source from development investment fund.
EPS = 4900 VND Moreover, they want to raise the stock
price.Source:http://gafin.dvt.vn/20110822100643590p0c36/pvd-thong-qua-mua-them-1-trieu-co-phieu-quy.htm
1. Balance sheet 2. Income Statement 3. Ratios 4. Cash flow
III. ANALYZING TYPICAL INFORMATION FROM PVD FINANCIAL STATEMENT
3.Financial ratio analysis:
Liquidity/Solvency ratiosProfitability ratiosValuation ratiosEfficiency ratiosSource: Viet Capital Securities
Liquidity/Solvency Ratios
Current ratio( R c) over 3 recent years is not low ok because it’s assets were used properly
Cash ratio ( CR) and Quick ratio ( R q) are high have ability to pay back liabilities with high liquidating inventory
Conclusion:Low liquidity riskHealthy financial structureGood profitability ratiosMoreover P/E is 8.4x in 2011, and P / B is 1.43
x VCSC hold recommendations for investing into PVD
PVD is still prefered with the positive results inspite of the difficult macro economy
Source: http://www.vcsc.com.vn/Shared/Views/Web/MessagesDetail.aspx?menuid=1&id=62545&catid=1243&tab=newsvcsc&title=&lang=vi-vn