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OIL - Shareholders await further State divestment - AGM Note

OIL’s first AGM was held today. Shareholders raised a lot questions on further Government divestment progress, conservative 2018 guidance and OIL’s long-term strategic path. Although OIL has received high interest from potential strategic investors, further State divestment to 36.1% is expected in 2019 when all the necessary procedures are completed. OIL sets conservative 2018 guidance with revenue and NPAT dropping 20.9% YoY and 18.1% YoY to VND47.2tn USD2.1bn) and VND400bn (USD17.4mn),