Structure and activities of the Board of Directors
| Membership start date | ||||
|---|---|---|---|---|
| No. | Full name | Position | Appointed date | Resigned date |
|
1
|
Mr. Dinh Quoc Lam | Chairman | September 17, 2018 (Has held the position of Chairman of the BOD since January 15, 2020) | - |
|
2
|
Mr. Le Van Danh | Member of the BOD cum President & CEO | January 15, 2020 | |
|
3
|
Mr. Truong Quoc Phuc | Full-time Member of BOD | September 17, 2018 | June 14, 2022 |
|
4
|
Mr. Nguyen Minh Khoa | Part-time Member of BOD | January 15, 2020 | - |
|
5
|
Mr. Do Mong Hung | Independent Member of BOD | September 17, 2018 | - |
-
Position
Chairman
-
Appointed date
September 17, 2018 (Has held the position of Chairman of the BOD since January 15, 2020)
-
Resigned date
-
-
Position
Member of the BOD cum President & CEO
-
Appointed date
January 15, 2020
-
Resigned date
-
-
Position
Full-time Member of BOD
-
Appointed date
September 17, 2018
-
Resigned date
June 14, 2022
-
Position
Part-time Member of BOD
-
Appointed date
January 15, 2020
-
Resigned date
-
-
Position
Independent Member of BOD
-
Appointed date
September 17, 2018
-
Resigned date
-
The Board of Directors works on the principle of collective leadership under the direction and administration of the Chairman without establishing Committees under Board of Directors.
In 2022, the Board of Directors organized the implementation/direction and issued 48 resolutions to address key matters, policies, plans and governance of the Corporation; In addition, the Board of Directors also issued resolutions, decisions and documents to approve and direct Corporation periodic operation with the approval rate of 100% to perform the operational direction function.
| No. | Full name | Number of meetings attended | Attendance ratio | Absent reasons |
|---|---|---|---|---|
|
1
|
Mr. Dinh Quoc Lam
Chairman |
12/12 | 100% | |
|
2
|
Mr. Le Van Danh
Member of BOD, President & CEO |
12/12 | 100% | |
|
3
|
Mr. Truong Quoc Phuc
Full time Member of BOD |
5/5 | 100% | Resigned from BOD from June 14, 2022 |
|
4
|
Mr. Nguyen Minh Khoa
Part-time Member of BOD |
12/12 | 100% | |
|
5
|
Mr. Do Mong Hung
Independent Member of BOD |
12/12 | 100% |
-
Position
Chairman
-
Number of meetings attended
12/12
-
Attendance ratio
100%
- Absent reasons
-
Position
Member of BOD, President & CEO
-
Number of meetings attended
12/12
-
Attendance ratio
100%
- Absent reasons
-
Position
Full time Member of BOD
-
Number of meetings attended
5/5
-
Attendance ratio
100%
-
Absent reasons
Thôi giữ Position TV.HĐQT từ June 14, 2022
-
Position
Part-time Member of BOD
-
Number of meetings attended
12/12
-
Attendance ratio
100%
- Absent reasons
-
Position
Independent Member of BOD
-
Number of meetings attended
12/12
-
Attendance ratio
100%
- Absent reasons
Members of Corporations Board of Directors, Board of Management, Board of Supervisors and other managers have been participating in the Corporate Governance training courses in accordance with the advanced management frameworks in the world.
Structure and activities of the Board of Supervisors
| No. | Full name | Position | Membership start date | Qualification |
|---|---|---|---|---|
|
1
|
Mr. Pham Hung Minh | Chief of the Board of Supervisors | September 17, 2018 | Bachelor of Foreign Economic Relations,Bachelor of Accounting |
|
2
|
Mr. Dau Duc Chien | Member of the Board of Supervisors | September 17, 2018 | Master of Electrical Engineering, Electrical System Engineer |
|
3
|
Ms. Vu Hai Ngoc | Member of the Board of Supervisors | September 17, 2018 | MBA, Bachelor of Accounting |
-
Position
Chief of the Board of Supervisors
-
Membership start date
September 17, 2018
-
Qualification
Bachelor of Foreign Economic Relations,Bachelor of Accounting
-
Position
Member of the Board of Supervisors
-
Membership start date
September 17, 2018
-
Qualification
Master of Electrical Engineering, Electrical System Engineer
-
Position
Member of the Board of Supervisors
-
Membership start date
September 17, 2018
-
Qualification
MBA, Bachelor of Accounting
| No. | Full name | No. of meetings attended | Attendance ratio | Voting ratio |
|---|---|---|---|---|
|
1
|
Mr. Pham Hung Minh | 4 | 100% | 100% |
|
2
|
Mr. Dau Duc Chien | 4 | 100% | 100% |
|
3
|
Ms. Vu Hai Ngoc | 4 | 100% | 100% |
-
No. of meetings attended
4
-
Attendance ratio
100%
-
Voting ratio
100%
-
No. of meetings attended
4
-
Attendance ratio
100%
-
Voting ratio
100%
-
No. of meetings attended
4
-
Attendance ratio
100%
-
Voting ratio
100%
Transactions, remuneration and benefits of the Board of Directors, the Board of Management and the Board of Supervisors
RISK MANAGEMENT
1
2
3
ECONOMIC RISK
Each national economy has its own certain risks which are formed from the fluctuations of basic factors in the economy such as GDP, inflation, interest rate, exchange rates, trade balance, pandemic, etc. For an integrated economy, the risks will spread faster and the impact from those risks is bigger. As a part of the economy, EVNGENCO3 is not an exception to suffer from those fluctuations.
Operational efficiency and business prospects require enterprises to promptly adapt to the fluctuations of business environment. Analysis of macroeconomic environment helps prevent the impacts from the risk factors on the growth strategy and ensure the operation of the business model.
LEGAL RISK
The Corporation’s production and business are subject to the regulation of the law system and the Government’s policy, including: Law on Enterprise, tax policies, policy on electricity retail price, integration commitments, regulations on environmental protection, etc. Participating in securities market, the Corporation is subject to the legal regulations on securities market. Therefore, the Corporation regularly updates the applicable laws to promptly grasp changes in legal regulations, and at the same time minimize risks.
SPECIFIC RISK
- Currently, all coal-fired power plants of EVNGENCO3 have signed long-term coal supply contracts with Vietnam National Coal and Mineral Industries Group and Dong Bac Corporation to ensure about 80% of coal demand for the plant operation. Coal price of Vietnam Coal and Mineral Group (TKV), Dong Bac Corporation sold for power production is regulated by State agencies, so coal price is quite stable.
- For imported coal, the Corporation will balance against domestic sources to import when the price is suitable.
- Phu My power plants are entitled to gas consumption until 2023, after that time, EVNGENCO3 may have risks of gas price and supply. But this is also an opportunity for EVNGENCO3 to find the imported LNG supply with more competitive price. EVNGENCO3 will buy LNG to make up for the shortage of domestic gas compared to the demand for electricity production due to the decline of gas fields in the Southeast region. In the coming time, according to the plan, some new LNG terminals will also be built, then the gas market will be more competitive.
- Electricity retail price is regulated and controlled by the Government to ensure benefit balance between the power enterprises and the consumers. To ensure general benefits, the Government issues electricity price framework applicable to different regions and subjects; therefore, the electricity price is not timely adjusted to be suitable to the market situation in some cases. Inflexible price fluctuations in addition to fuel price risks are always a limitation affecting the Corporation’s profit margin.
OTHER RISKS
SECURITIES RISK
Listing shares on HOSE is an inevitable trend to enhance value for shareholders through increasing liquidity and improving governance and, thereby improving the Corporation’s business performance. However, when the Corporation’s shares are listed on HOSE, the price of share will change not only depending on the Corporation’s business by itself but also suffering the impact of general fluctuations in securities market.
OTHER RISKS
Apart from the above-mentioned risks, the Corporation is also subject to other risks such as natural disasters, pandemic, fire, etc., which are force majeure risks that, if occurred, may cause damage to property, people and operation of the Corporation. To minimize risks, the Corporation often timely collects and captures information on the economic, political and social changes as well as the weather to operate the Corporation in an efficient manner.
Each national economy has its own certain risks which are formed from the fluctuations of basic factors in the economy such as GDP, inflation, interest rate, exchange rates, trade balance, pandemic, etc. For an integrated economy, the risks will spread faster and the impact from those risks is bigger. As a part of the economy, EVNGENCO3 is not an exception to suffer from those fluctuations.
Operational efficiency and business prospects require enterprises to promptly adapt to the fluctuations of business environment. Analysis of macroeconomic environment helps prevent the impacts from the risk factors on the growth strategy and ensure the operation of the business model.
The Corporation’s production and business are subject to the regulation of the law system and the Government’s policy, including: Law on Enterprise, tax policies, policy on electricity retail price, integration commitments, regulations on environmental protection, etc. Participating in securities market, the Corporation is subject to the legal regulations on securities market. Therefore, the Corporation regularly updates the applicable laws to promptly grasp changes in legal regulations, and at the same time minimize risks.
- Currently, all coal-fired power plants of EVNGENCO3 have signed long-term coal supply contracts with Vietnam National Coal and Mineral Industries Group and Dong Bac Corporation to ensure about 80% of coal demand for the plant operation. Coal price of Vietnam Coal and Mineral Group (TKV), Dong Bac Corporation sold for power production is regulated by State agencies, so coal price is quite stable.
- For imported coal, the Corporation will balance against domestic sources to import when the price is suitable.
- Phu My power plants are entitled to gas consumption until 2023, after that time, EVNGENCO3 may have risks of gas price and supply. But this is also an opportunity for EVNGENCO3 to find the imported LNG supply with more competitive price. EVNGENCO3 will buy LNG to make up for the shortage of domestic gas compared to the demand for electricity production due to the decline of gas fields in the Southeast region. In the coming time, according to the plan, some new LNG terminals will also be built, then the gas market will be more competitive.
- Electricity retail price is regulated and controlled by the Government to ensure benefit balance between the power enterprises and the consumers. To ensure general benefits, the Government issues electricity price framework applicable to different regions and subjects; therefore, the electricity price is not timely adjusted to be suitable to the market situation in some cases. Inflexible price fluctuations in addition to fuel price risks are always a limitation affecting the Corporation’s profit margin.
SECURITIES RISK
Listing shares on HOSE is an inevitable trend to enhance value for shareholders through increasing liquidity and improving governance and, thereby improving the Corporation’s business performance. However, when the Corporation’s shares are listed on HOSE, the price of share will change not only depending on the Corporation’s business by itself but also suffering the impact of general fluctuations in securities market.
OTHER RISKS
Apart from the above-mentioned risks, the Corporation is also subject to other risks such as natural disasters, pandemic, fire, etc., which are force majeure risks that, if occurred, may cause damage to property, people and operation of the Corporation. To minimize risks, the Corporation often timely collects and captures information on the economic, political and social changes as well as the weather to operate the Corporation in an efficient manner.
- Facing a strong fluctuation in exchange rates and a high increase in fuel prices (i.e., gas and coal) in 2022, the Corporation has met many difficulties to ensure supply of gas and coal for power generation, maintain daily start/stop operation model at Phu My power plants and standby time for long machine units as no mobilization required from system, deploy new power sources and conduct equitization finalization. These are the risks highly affecting the Corporation’s operational efficiency.
- The Corporation has developed material risk dossiers and process-level risk dossiers in 2022 as assigned schedule. At present, the Corporation has completed 198/366 process-level risk dossiers, exceeding the assigned plan. In which, the Corporation completed 54/97 dossiers; and the member units completed 144/269 dossiers.
- The implementation of process-level risk dossiers is appropriately done by the units, associated with the professional expertise of each department/workshop.