PHR posted Q4 2020 results with revenue surging 56% YoY to VND746bn (USD32mn) and NPAT-MI of VND379bn (USD16mn) vs a loss of VND161bn (USD6.9mn) in Q4 2019. PHR’s Q4 2020 NPAT-MI was mainly contributed by compensation receipts of around VND304bn (USD13mn) from rubber land conversion to the Nam Tan Uyen 2 IP Expansion (NTU3).