On May 29, 2024, in Hanoi, Viglacera Corporation – Joint Stock Company (VGC; HOSE) organized the 2024 Annual General Meeting of Shareholders (AGM) and approved the main contents of the Meeting.
Overview of the 2024 Annual General Meeting of Shareholders 2024
Profit before tax reached 132% of the plan
Accordingly, in 2023, the consolidated pre-tax profit of Viglacera Corporation – JSC was 1,602 billion VND, reaching 132% of the year plan. In particular, the parent company showed its leading role with net revenue of 5,337 billion VND, pre-tax profit of 1,911 billion VND, reaching 146% of the year plan, an increase of 201 billion VND compared to 2022. Finance of the parent company was operated, used and preserved capital effectively; growing in profit. The parent company’s return on total assets (ROA) was 10.7%; Return on equity (ROE) was 22.1%.
Mr. Tran Ngoc Anh, Member of the Board of Directors of the Corporation, presented the Report of the Board of Directors
Also in 2023, the Corporation’s export turnover was recorded to reach 46.3 million USD, increasing by 53%. The General Meeting of Shareholders approved a 22.5% cash dividend, 20% higher than the plan approved by the General Meeting of Shareholders.
In 2024, real estate continues to play a key role
At the Congress, Viglacera’s Board of Directors submitted to shareholders for approval the 2024 production and business plan with total consolidated revenue of 13,353 billion VND, slightly increasing compared to 2023 results and consolidated pre-tax profit of 1,110 billion VND. copper.
In the context of difficulties in the materials sector and the need to restructure production units in the direction of increasing labor productivity, reducing costs, Viglacera determines that real estate will continue to be a key segment in 2024 of the Corporation.
Accordingly, Viglacera will focus on exploiting Yen My, Phong Dien, Thuan Thanh, Tien Hai, Yen Phong 2C, Dong Mai, Yen Phong (Expansion Phase), Dong Van IV industrial park projects with a business target of approximately 173 hectares in 2024.
At the same time, conduct surveys and propose to prepare documents for investment policy approval and developer approval to deploy investment in new industrial parks in localities with advantageous infrastructure and locations, investment attraction and business capabilities..
The Corporation will also establish new legal entities and branches to implement projects such as Phu Ninh Industrial Park (400ha), Bac Son Industrial Park (200ha) in Phu Tho; Expanded Dong Mai Industrial Park (150ha) in Quang Ninh; Tran Yen Industrial Park (255 hectares) in Yen Bai; Tay Pho Yen Industrial Park (868ha), Song Cong 2 Industrial Park (296 ha) in Thai Nguyen; Industrial Park No. 1 (260 hectares) in Hung Yen; Doc Da Trang Industrial Park (288 hectares) in Khanh Hoa; industrial parks in Bac Ninh, Quang Ninh, Tuyen Quang, Lao Cai, Lang Son, Hung Yen…, industrial parks in the South and other locations.
In the field of social housing and worker housing, Viglacera will continue to invest in 50,000 social housing units (under the new development program of 1 million social housing units for the period 2023 – 2030) assigned by the Ministry of Construction at the “Conference to promote the development of social housing for workers and low-income people” organized by the Prime Minister in 2023.
Mr. Tran Manh Huu, Head of the Supervisory Board of the Corporation, presented the Report of the Supervisory Board
In addition, Viglacera plans to continue developing social housing areas in sync with the development of existing industrial parks, preparing to invest in new key projects in industrial parks of Dong Van IV, Phu Ha, Dong Mai, Yen Phong; Social housing in Kim Chung (CT3-CT4); continue to carry out investment preparations for social housing projects in Tien Hai Industrial Park (5.2ha), Phu Ha Industrial Park (8.4ha); continue to participate in the selection of investors for the Social Housing project in Tien Duong – Dong Anh.
The Corporation plans to continue to invest in commercial services in Dang Xa, Xuan Phuong (Hanoi), and Yen Phong (Bac Ninh) urban areas. At the same time, implement steps to prepare for investment in developing new industrial parks…; continue to implement the Van Hai luxury eco-tourism area project phase 1 (area of 35 hectares), thereby completing and putting into operation an international 5-star hotel, and at the same time implementing the initial steps of preparation investment for phase 2 with an area of 40 hectares.
Mr. Le Dong Thanh, member of the Equitization Steering Committee (Ministry of Construction), gave a directive speech at the Congress
One of the key tasks of this year is to continue implementing the preparation steps as well as procedures for the divestment of State capital at the Corporation according to the policies and directions of the Ministry of Construction; Decision No. 1479/QD-TTg dated November 29, 2022 of the Prime Minister.
In 2024, Viglacera is expected to continue paying dividends by cash at a rate of 20%
The Presidium conducted a discussion session with shareholders at the Congress
Also at the Congress, leaders of Viglacera Corporation – JSC informed a number of contents and areas of interest to shareholders such as: industrial real estate; estimated selling price, revenue, profit of social housing; construction materials segment, including super white glass, prospects for recovery of construction materials segment in the next 3 years; divestment plan…
Elect members of the Board of Directors and Supervisory Board
In the morning, General Meeting of Shareholders of Viglacera Corporation – JSC also elected the members of the Board of Directors and members of the Supervisory Board of the Corporation for the term 2024 – 2029.
Accordingly, the major shareholder, Gelex Infrastructure Joint Stock Company (a subsidiary of which Gelex holds nearly 97% of voting rights), nominated three candidates for the position of members of the Board of Directors including: Mr. Nguyen Van Tuan, Mr. Le Ba Tho, Mr. Nguyen Trong Hien and nominated two members of the Supervisory Board including: Mr. Tran Manh Huu, Ms. Nguyen Thi Tham.
The Ministry of Construction appointed two representatives of the State capital to serve as members of the Board of Directors, including: Mr. Tran Ngoc Anh, Member of the Board of Directors, Deputy General Director of the Corporation (managing 25% of capital) and Ms. Tran Thi Minh Loan, Member of the Board of Directors, Director of Finance and Accounting Department of the Corporation (managing 13.58% of capital).
The Congress approved 100% of the election of members of the Board of Directors: 5 members; Supervisory Board members: 3 members
Board of Directors of Viglacera Corporation – Joint Stock Company for the term 2024-2029 debuts at the Congress
Board of Supervisors of Viglacera Corporation – Joint Stock Company for the term 2024-2029 debuts at the Congress
The annual General Meeting of Shareholders of Viglacera Corporation – JSC unanimously approved the 2023 financial report (audited), profit distribution plan, 2023 dividend payment plan, production and investment plan targets in 2024 along with other important contents.
Other images at the Congres:
