We attended PVS’s AGM on April 28, 2021, in Ba Ria-Vung Tau Province. The AGM discussed 2021 outlook, Q1 2021 preliminary results and the company’s long-term outlook. While management sees near-term challenges due to slow progress in contract bidding while the positive impact of higher oil prices has not yet come due to a lagged effect, it remains optimistic about the company’s outlook from late 2021/early 2022 due to job opportunities from domestic gas projects and LNG terminal projects