Annual Shareholders Meeting 2019 of Viglacera was successfully organized and set a good start for the new term 2019-2024.

03:26 | 26/06/2019

The Annual Shareholders meeting of Viglacera Corporation – JSC (trading code: VGC, HOSE stock exchange) which was organized on 26th June 2019 at Hanoi National Convention Center already passed lots of significant contents which help to set a positive start for the new term 2019 – 2024 with huge turning points. The new Board of Management and Supervisory Board were elected in the meeting and officially are introduced publicly today.

The whole scene of the meeting 

 As the company officially changed to joint stock company model from 22nd July 2014, The first 5-year-term of the Board of Management and Advisory Board of Viglacera Corporation had lots of important highlight.

Viglacera continued to affirm its position as one of the leading companies in manufacturing & trading building materials and Real Estate industry in Vietnam.

Mr Nguyen Anh Tuan – Deputy General Director reported to the Board of Directors at the meeting 

In building material industry, until end of 2018, Viglacera accounted for 40% domestic building glass production capability with 3 factories manufacturing glass, 2 factories manufacturing float glass, 1 factory manufacturing energy saving glass and 1 factory manufacturing after-glass products. The total volume of glass manufactured in 2018 is approximately 59.6 million m2.

The corporation also accounted for 11% of Sanity wares, 5% of tiles and 45% of cotto bricks production capability of the whole country. In 2018, Viglacera provided the market with more than 1.5 million sanity ware products, 12,3 million cotto bricks, 28 million m2 ceramic-granite tiles, 312 million building bricks and almost 160 million roof tiles .

In the real estate field, VGC owns 12 industrial zones with the total leasing area of more than 4000 ha. The corporation invested into infrastructure in 120 ha industrial zone area and leased 102 ha; The total area which has been invested on infrastructure but not yet been leased is 226 ha, the total area which hasn’t been deployed is 1,700ha. The industrial zones of Viglacera attract many big international corporations such as Samsung, Toshiba, Canon and so on. Viglacera is also investing into 12 urban areas, housing and leasing office projects with the total area of 188 ha, in which the area not yet been into business until January 2019 is 27.7 ha.

In financial perspective, Viglacera had a sustainable development and already accumulated enough resources for the next development stage. Until end of 2018, the total capital of the Corporation achieved more than 16,489 billion dong. In 2018, the Corporation’s total revenue reached 8,812 billion dong, the profit before tax reached 846.8 billion dong. Especially, the Parent company had revenue of 3,135 billion dong and profit before tax of 607.6 billion dong.

Leaders of the Corporation answered shareholders in the discussion session 

Besides some main targets which was met successfully, the profit before tax of the Viglacera Parent company always exceeded the plan delegated by the Shareholder Committee, which proved that the strategic movement of the Corporation was right and effective.

The Corporation already processed to transfer from HNX to HOSE stock exchange (The VGC was officially listed on HOSE on 29th May 2019). Before that, the Ministry of Construction also divested the Government capital of the Parent company to 38.58%.

Shareholders voted to pass significant contents in the meeting 

After serious discussing hours, The Annual Shareholders Meeting 2019 successfully created through election the new Board of Management and Advisory Board for the new term 2019 – 2024, at the same time passed lots of significant contents such as the business result of 2018, especially the 10%-in-cash dividend payout ratio of 2018 which is higher than predicted...

Shareholders elected to create the new Board of Management and Advisory Board of the Corporation 

The Corporation Board of Management will have Mr Nguyen Van Tuan – President of the Corporation ‘s Board of Management, Mr Luyen Cong Minh – Vice president, Mr Nguyen Anh Tuan – Member cum General Director of the Corporation, Mr Tran Ngoc Anh – Member, Ms Do Thi Phuong Lan – Member. The Corporation Advisory board will have Ms Pham Ngoc Bich, Ms Nguyen Thi Cam Van and Ms Nguyen Thi Thanh Yen. 

The Board of Management was introduced in the meeting 

In 2019, Viglacera sets the total revenue target as 9,300 billion dong which increases 5.5% compared to 2018; The Parent company needs to achieve 3,500-billion dong revenue which is 11.6% higher than 2018; The target on total profit before tax of the whole corporation is 959 billion dong which is 12.5% higher compared to 2018; The Parent company needs to have profit before tax of 650 billion dong which increases 7% compared to 2018; The minimum dividend payout ratio is 10.5%. 

Mr Nguyen Van Tuan – New President of Viglacera Corporation ‘s Board of Management spoke at the meeting 

For the long term development, Viglacera Corporation – JSC will continue to strongly implement restructuring, investing on high-tech products and building materials which have high value, update new technology and are friendly with environment (super white glass, energy saving glass, Autoclaved aerated concrete, ALC panel, high-class sanity ware and so on). In real estate industry, Viglacera will invest on infrastructure in industrial zones (for example the investment on 2 new industrial zones Yen Phong IIC and Yen My), social housing and worker housing as the Government advocate. Besides, Viglacera will also increase the investment on resort properties (Van Hai project) to increase the business efficiency and make the Viglacera brand become a huge and prestigious brand in Building Materials and Real Estate Industry in Vietnam.

2019 is predicted to be a huge turning point of the Corporation when the capital structure will be changed due to the Government capital divestment to 0% according to Decision No 1232/QĐ-TTg of the Prime Minister. The changing of operation and management model of the Corporation was implemented based on the model of publicly held company through management regulations which are similar to other enterprises having the top production technology and management system in Vietnam and throughout the world.

The next 25th July is the date when Viglacera celebrates 45 years of establishment. These 45 years consist all the traditions and cultures of all employees who have been engaged with and contributed to Viglacera for the past 45 years. Viglacera Corporation will make all effort to develop sustainably, maintain the national brand, meet market demand and take the best advantage of all opportunities coming from the active development of the domestic market as well as the integration with the global economy.

Some pictures of the meeting:

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