Thu , 21/04/2022, 11:45:00 (GMT+7)
On the morning of April 21, 2022, in Hanoi city, Vietnam Construction and Import-Export Joint Stock Corporation (VINACONEX) – stock code VCG, successfully held the Annual General Meeting of Shareholders (AGM) year 2022. The AGM approved many important issues including report on business performance in 2021, development strategy for 2022 of the Corporation.
The meeting was chaired by the Board of Directors (BOD) including Mr. Dao Ngoc Thanh - Chairman of the BOD, Chairman of the AGM, Mr. Nguyen Xuan Dong - Member of BOD cum General Director, Mr. Duong Van Mau – Member of BOD cum Standing Deputy General Director.
According to the BOD’s report on VINACONEX's production and business results for 2021 and its production and business plan for 2022, the Corporation's total consolidated revenue reached VND 6,296 billion in 2021, the total consolidated profit after tax reached VND 520 billion. This is a positive outcome given the numerous obstacles that enterprises are currently facing, but VINACONEX Company is still steadfast in its development plan that focuses on the three core areas of construction, real estate, and financial investment.
Regarding the construction activities,
In 2021, the Corporation actively participated in tenders and won many significant projects in the sectors of industry, civil construction, and traffic with a total winning value of over VND 10,000 billion, such as the bidding packages under Long Thanh international airport; the Expanded Yaly hydropower project; the Vinh Tuy bridge phase 2; the Hanoi Children's Palace project; Vung Ang Thermal Power Plant Project;
The projects’ construction works have their construction progress and quality ensured and have high appreciation from the investors. Typical projects include the Dakba Hydropower Project, the 93 Lang Ha Project, the Mikazuki - Da Nang Project, the Long Son Project, the 120 Dinh Cong Project, the Goertek - Bac Ninh Project, the Cheng Loong - Binh Duong Project, the Vinh Tuy Bridge phase 2 Project, the Cai Gia - Cat Ba Project, the Nam An Khanh urban area Project, and others.
As for the investment activities
In 2021, the Corporation's Executive Board kept guiding and speeding up the construction projects such as Kim Van - Kim Lu Complex in Hoang Mai dítrict, Hanoi; KM3, KM4 Urban Area in Hai Yen Ward, Quang Ninh, the Expanded Hoa Binh boulevard urban area project in Hai Hoa ward, Mong Cai city and so on.
In addition to conducting research, planning, and developing several projects in localities such as the Bien Ho cultural and eco-tourism resort in Phu Yen (338 hectares); Lai Nghi Green village in Quang Nam (460 hectares); Doi Che urban area in Quang Ninh (50 hectares), Vinaconex has prioritized the search for and development of several projects in the Hanoi area and surrounding provinces.
The investment in infrastructure construction and utility works of the Cat Ba - Amatina tourist urban area (Vinaconex – ITC as the employer) has been accelerated with an investment output of over VND 2,000 billion projected in 2022. VINACONEX Corporation currently has completed the procedures to increase its stake in Vinaconex - ITC to 51% this year.
In term of financial investment activities,
Vinaconex has made divestments in a number of subsidiaries and joint ventures, as well as increased charter capital in subsidiaries including Vinaconex Investment One Member Co., Ltd, Vinaconex Construction One Member Co., Ltd, Vinasinco JSC. The AGM 2022 also approved the dividend payment rate of 28% for shareholders in 2021, including 18% in cash, 10% in shares.
Although the domestic economy in 2022 still has been affected by the COVID-19 pandemic, Vinaconex is determined to develop a business plan with high revenue and profit growth compared to 2021. The Corporation targets consolidated revenue to exceed VND 15,300 billion and consolidated profit after tax to reach VND 1,400 billion in 2022, which equates to 243% and 269% over the 2021 period respectively.
In order to implement the business plan in 2022, the Corporation’s BOD intends to keep focusing on the three core areas of construction, real estate, and financial investment using specific solutions, expected to bring about high efficiency.
With high consensus, the AGM of Vinaconex approved the contents of production and business performance in 2021, the development plan in 2022, the dividend payment plan, and many other important contents. Shareholders also elected the Board of Management and Supervisory Board of the Corporation for the 2022 – 2027 tenor.
In his sharing with the shareholders, the Chairman of BOD – Mr. Dao Ngoc Thanh also affirmed the ambition and determination of BOD, BOM, and employees of Vinaconex to be named among the national leading enterprises in the field of construction and real estate, taking good care of the well-being for employees and providing benefits to the shareholders. The Corporation's production and business activities consistently achieve strong and stable growth, with total revenue, profit, and contributions to the state budget and social welfare growing.
