- 152 shareholders (representing 66% of total outstanding shares) attended PVD’s AGM on April 26. The meeting discussed the company’s business guidance for 2023, its Q1 2023 preliminary results, and management’s view for 2023-2025.

- Overall, management expects the global jack-up (JU) market to remain tight due to the limited number of rigs while demand recovers. The JU day rate in Southeast Asia could range from USD120,000 to USD140,000 at end-2023. Meanwhile, the domestic market has remained quiet in 2023, but it is expected to recover in 2024-2025 with the potential commencement of major projects such as Block B, Dai Hung – Phase 3 and White Lion – Phase 2B.

- Shareholders approved 2023 guidance for revenue of VND5.4tn (USD228.8mn; -0.6% YoY) and NPAT before MI of VND100bn (USD4.2mn) vs a reported net loss of VND103bn (USD4.2mn) in 2022. Management is confident that it will beat this guidance given PVD’s bright preliminary Q1 2023 results.

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