Company Insight

Vietnam National Petroleum Joint Stock Company (PLX) is a pioneer in Vietnam‘s petroleum distribution sector. In 2024, PLX's growing driver comes from the stable domestic demand and advantageous government policies. In long-term, we believe the tight control of petrol market and the high growth potential of jet fuel market will enable PLX to increase its market share. Most importantly, with the new draft Decree effective in the upcoming time, PLX is well-positioned to take advantage of the new regulations. Based on DCF method, we value PLX for the first time at VND 64,500, equivalent to a 32.1% return.