Viglacera annual general meeting of shareholders: 2018 will fundamentally change the ownership of capital, plan to shift listing to HOSE

On the morning of June 29, 2018, Viglacera Corporation-JSC held the Annual General Meeting of Shareholders 2018 at the National Convention Center - No. 2 Thang Long Avenue, Hanoi. Business activities results in 2017 has exceeded the targets of the General Assembly, especially for the first time, Viglacera reached the combined profit before tax of just over 1,000 billion VND. In order to continue implementing the strategy of sustainable development, the guidelines and policies of the Party, State and Government, in 2018, Viglacera will invest heavily in high-tech projects, environmentally-friendly - "green" projects and boost investment in the country as well as in Cuba. In addition, Viglacera sets its 2018 business targets higher than that of 2017, the parent company's profit will be over 11% and 9.5% for dividend payout.

With the high approval rate, the Annual General Meeting (AGM) approved the following main contents: Report of the Board of Management, Report of the Board of Directors on business results of 2017 and plan for 2018; Activities of the Board of Supervisors in 2017; State capital withdrawal plan of 36%; Roadmap to shift listing to HOSE.

Viglacera Annual General Meeting of Shareholders in 2018 

2017 confirmed the optimal strength of Viglacera when the Corporation first reached the combined profit before tax of 1,074 billion VND.

In 2017, Viglacera's Board of Management has promoted internal strength, management and implementation of innovation policies, system leadership, business efforts, safe and sustainable development with the results of major targets in 2017 reached and exceeded the plan approved in the AGM on 25 April 2017.

Consolidated profit before tax of the Corporation reached 913.8 billion VND, an increase of 8% compared to the plan approved by the AGM, a 19% increase compared to that in 2016; of which, profit before tax of the parent company reached 566.5 billion VND, an increase of 15% compared with the plan of the General Meeting of Shareholders, a 28% increase compared to the implementation in 2016.

The profit/equity rate of the parent company in 2017 was 9.6%; basic earnings per share was 1.585 VND, the dividend payout ratio of 2017 was 9.5%, an increase of 0.5% as approved by the AGM.

The Presidium 

In addition to the successes achieved in production and business activities, in 2017, Viglacera's brand was also confirmed by many awards in two main areas which are construction materials and real estate. Viglacera claimed runner-up in top trustworthy building materials companies in 2017, top 10 prestigious companies in the Real estate - Construction - Building materials,  top 500 the biggest companies in Vietnam VNR500, was honored the Vietnam Brand prize for the 9th consecutive time, and for the third time was awarded the prize from BID (Business Initiative Directions).

In 2018, a major change in ownership of capital - the State will only hold 36% in Viglacera 

Building on the strengths achieved in 2017, Viglacera implements stable and sustainable development strategies and business targets are set higher for all areas of operation compared to 2017. According to the plan approved at the AGM, Viglacera's consolidated pre tax profit for 2018 is 950 billion VND. Viglacera expects to maintain a cash dividend of 9.5% par value.

Shareholders vote for the content of the report to the General Assembly of Shareholders 

For building materials sector: Viglacera focuses on investment projects to add high-tech products, "green" products such as ultra-white glass, energy-saving glass, autoclaved aerated concrete, white body porcelain tiles; uses eco-friendly fuels in some factories; and improves the productivity, quality and design of the products at the subsidiaries.

For the real estate sector: Following the direction of the Government, Viglacera will focus on investing in worker housing, social housing, industrial park projects and resort real estate. Viglacera is expected to invest in worker housing in Bac Ninh, Binh Duong and Vung Tau; invest in two new industrial parks: Yen My - Hung Yen IP and Yen Phong II-C IP in Bac Ninh, while preparing for investment in Dong Van IV to expand and develop Van Hai Ecological Tourist Area.

For offshore investment: Viglacera continues to promote commercial cooperation, joint venture projects to invest in the production of sanitary wares, tiles; industrial park development in Mariel Special Development Zone; hotel investment, resort villas for sale and golf course in Cuba. These are potential projects and will open up many opportunities for Viglacera in Cuba.

The Chairman of the Management Board, Mr. Luyen Cong Minh received comments on the content of the Congress 

With the divestment of 36%, Viglacera will have a fundamental change in ownership and involvement of investors in management, contributing to the development of Viglacera Corporation to new heights.

General Director Nguyen Anh Tuan responded to shareholder inquiries about Viglacera's investment plan in Cuba 

In 2018, Viglacera continues to strive to maintain its leading position and in manufacturing construction materials and be a prestigious investor in the field of real estate investment. The Corporation continues to enhance its financial capacity, increase its business scale, and balance with the aim of ensuring the safety and health in all business activities of the whole Corporation, thus enhancing Viglacera's competitive and prestige position in the regional and international market.

Some other images at Viglacera Annual General Meeting of Shareholders 2018: