First Annual General Meeting bong da so du lieu Viglacera Corporation successfully taken place

On July 2nd, in Hanoi, VIGLACERA Corporation organized the First Annual General Meeting and officially restructure from a State-own Enterprise to a Joint Stock Company. Mr. Luyen Cong Minh, Nguyen Anh Tuan, Tran Ngoc Anh, Nguyen Quy Tuan, Luu Van Lau were elected members bong da so du lieu Board bong da so du lieu Directors. Mr. Luyen Cong Minh will be Chairman bong da so du lieu the Board, and Mr. Nguyen Anh Tuan will be General Director bong da so du lieu Viglacera Corporation.

Deputy Minister bong da so du lieu Construction Bui Pham Khanh and Deputy Minister bong da so du lieu Construction Nguyen Tran Nam congratulated the Board bong da so du lieuDirectorsand Supervisory Board electedby shareholdersat the meeting

Attending the meeting were Deputy Minister bong da so du lieu Construction Bui Pham Khanh, Deputy Minister bong da so du lieu Construction Nguyen Tran Nam, Head bong da so du lieu departments, institutes, corporations under the Ministry bong da so du lieu Construction, and Viglacera shareholders.

At the meeting, Viglacera shareholders discussed and approved the Organization and Operation Charter bong da so du lieu Viglacera Corporation, business plans, investment plans, profit distribution for 2^ndhalf bong da so du lieu the year, audit selection, and remuneration bong da so du lieu the Board bong da so du lieu Directors and the Supervisory Board.

Viglacera also announced the legislation on Corporation Equitization. According to Decision 716/QD-BXD issued by the Minister bong da so du lieu Construction dated 24 June 2014 about/on equitization plan adjustment bong da so du lieu Viglacera Corporation, the charter capital bong da so du lieu Viglacera Corporation is: VND 2,645 billion (two thousand six hundred forty five billion Dong). Initially issued shares: 264.5 million shares, valued VND 10,000 per share. Among which, 241,985,262 shares are held by the State, equivalent to 91.48% bong da so du lieu charter capital; 1,441,645 shares are incentively issued to employees in enterprises, equivalent to 0.55% bong da so du lieu charter capital; 21,073,093 shares are issued to other shareholders, equivalent to 7.97% bong da so du lieu charter capital.

bong da so du lieuShareholders voting

Viglacera has set revenue targets bong da so du lieu VND 155 billion for the 2^ndhalf bong da so du lieu 2014, and bong da so du lieu VND 270 billion for the whole year. Business development strategy and targets are well-supported by the majority bong da so du lieu shareholders.

After equitization, the parent company continues to invest in three key areas: building materials, real estate, and other sectors. In real estate sector, the parent company will focus on key projects including: Dang Xa 2, Xuan Phuong urban areas, Thang Long Number One high class housing complex; low-income housing projects in Dang Xa II, Tay Mo, and Xuan Phuong; projects in Yen Phong 1 and 2 Industrial Zones, Dong Mai, Hai Yen; clean water supply and water treatment in Yen Phong. In building materials, the parent company invests in energy saving glass project. For other sectors, the parent company proposes plans for research and development bong da so du lieu aerated autoclave concrete and laboratory equipment for the Institute, and implements a number bong da so du lieu scientific research.

Deputy Minister bong da so du lieu Construction Bui Pham Khanhgave speech at the Meeting

Speaking at the meeting, Deputy Minister bong da so du lieu Construction Bui Pham Khanh appreciated great development efforts bong da so du lieu Viglacera recently, and affirmed that Viglacera was a leading brand with great contributions to the construction industry. Deputy wished, after restructuring to a joint stock company, Viglacera would continue to grow, and become a strong brand in Vietnam and in the region.

During the 40 years bong da so du lieu development, Viglacera has undergone several changes in name and organizational models, but this restructure can be an important turning point for the Corporation. The joint stock model creates more opportunities than challenges for the Corporation. Along with equitization and implementation bong da so du lieu the enterprise restructuring proposal that was approved by the Ministry bong da so du lieu Construction, Viglacera has been changing organizational management and executive management procedure, expanding opportunities to approach capital markets and diversing funding methods in order to increase production and financial capacity. Equitization process in conjunction with the reorganization bong da so du lieu production and commercial management systems activity generates specialization in production and distribution bong da so du lieu products to the market. Thus, Viglacera can continue to grow, develop, and become a multinational business.