Southern Gas Trading proposes business changes, higher foreign ownership

Southern Gas Trading Joint Stock Company (PGS) has submitted a proposal for shareholder approval to implement several key adjustments to its business operations and corporate charter. The proposal outlines changes to the company’s registered head office address, conversion of its primary business sector code, and the elimination of certain business sector codes to increase foreign ownership.

Effective July 1, 2025, the company plans to adjust its registered head office address to 4th Floor, PetroVietnam Tower, No. 1-5 Le Duan, Saigon Ward, Ho Chi Minh City, aligning with administrative unit rearrangements in the city. Additionally, PGS intends to convert its primary business sector code from 4933 – Freight transport by road to 4661 – Wholesale of solid, liquid and gaseous fuels and related products, reflecting its core operational activities.

To boost the maximum foreign ownership ratio to 51%, Southern Gas Trading proposes eliminating specific business sector codes, including 5229 – Other transportation support activities and 5224 – Cargo handling. These changes will necessitate corresponding amendments to the company’s Charter, with the board of directors authorized to execute the required registration procedures. Shareholders are requested to return their ballots by October 13, 2025, at 4:00 PM.