Viglacera Corporation-JSC first reached the combined profit before tax of just over 1,000 billion VND in 2017.

On the morning of Jan 9th, 2018, Viglacera Corporation-JSC held a conference to evaluate the results of production and business activities in 2017 and to deploy business and investment plans in 2018. In 2017, Viglacera made significant changes in the comprehensive restructure of the Corporation, meet the set targets and continuously positioned themselves as one of the leading construction companies.

Attending the conference, the Corporation welcomes Deputy Minister Bui Pham Khanh and leaders of functional departments under the Ministry of Construction. From Viglacera Corporation-JSC, the Conference is attended by members in Corporation Development Council, Chairman of BOD Luyen Cong Minh, General Director Nguyen Anh Tuan, together with members of BOD, Deputy General Directors, Head of Division/ Depratments and key leaders in subsidiaries; there are also representatives of shareholders and investment funds.

 
Mr. Nguyen Anh Tuan – Deputy Genral Director of the Corporation reports on business results in 2017 and plans for production and business in 2018.

Viglacera achieved excellent business results with the active contributions of the subsidiaries. At the conference, the Corporation praised the high profit companies which contributing significantly to the final result of the Corporation: Viglacera Float Glass Company, Viglacera Ha Long JSC, Viglacera Infrastructure Development and Investment Company and Viglacera Real Estate Trading Company.

2017 is the year for Viglacera Corporation-JSC restructuring project: in July, succeed in issuing 120 mililion stock (VGC) to investors, increase charter capital to 4.270 billion VND; In December, the capital increase under the ESOP program is completed, increased charter capital to 4.483 billion VND and reduced the state ownership rate to 53.97%; also prepare for deploying withdrawal of state capital period 2018-2019 according to Decision No. 1232/QĐ-TTg dated 17/8/2017 of the Prime Minister. The Corporation also direct the subsidiaries to implement the increasing and withdraw capital process according to the guidance of the Ministry of Construction. 

The invested project in reported plan to shareholders at Annual meeting 2017 has been deployed in right schedule: the 600 tons/day super-white float glass project in Vung Tau was ground broken on July 25, 2017, package EP and other package are deploying currently according to project process. Viglacera My Xuan Sanitary wares project is rushing to complete the work items to install machines and equipment according to project process. This sanitary wares factory project has the advanced production technology, high quality products, meet the market demand for high-quality sanitary ware in both domestic and foreign. The science and technology project – AAC production line (AAC brick and panel) with the capacity of 200,000 m3/year is under contract with HESS (German contractor). The contractor will advise on the use of ash, slag to reduce costs, improve environmental protection.

​

For the real estate sector, the Corporation has just begin construction two new housing projects for workers in Yen Phong Industrial Zone and one in Dong Van IV Industrial Zone (Ha Nam); continued to clear the ground, invested in the construction and completion of technical infrastructure and service systems in Yen Phong IZ, Dong Van IV, Phu Ha, Hai Yen and Dong Mai. The Corporation concentrated on completing the preparation of investment projects on workers' houses, social houses and commercial houses ... as well as completing and handing projects at crossroad 6 – Bac Ninh, 671 Hoang Hoa Tham, Dang Xa and Yen Phong urban areas.

The biggest record in the overseas investment is the approval of Prodimat (Cuba) and Viglacera by the Government of Cuba in December 2017 to establish SANVIG joint-venture to reform two existing sanitary wares and tiles factory in Cuba. Currently, the Corporation is asking for Vietnamese Government permission for the production in the first quarter of 2018. Besides, Viglacera continues to prepare for the industrial zone infrastructure at Mariel Economic Zone and establish a joint venture investment in the hotel sector of the Grand Caribe Group in Cuba. 

 
Deputy Minister – Mr. Bui Pham Khanh delivered a speech at the Conference

At the conference, Deputy Minister of Ministry of Construction – Mr. Bui Pham Khanh highly appreciated the results achieved in production and business activities of Viglacera Corporation-JSC in 2017. With the achievements in investment in Cuba, consumption of energy-saving glass, deployment of super-white float glass projects, effective investment in social housing projects will be the premise helping Viglacera prepare to enter the new "battle front". The Deputy Minister emphasized 2018 will be year of Viglacera Corporation-JSC, reduce state ownership to 36% in 2018 and the period according to Decision No. 1232/QĐ-TTg dated 17/8/2017 of the Prime Minister will open a new future for Viglacera.

 

After listening to the results of production and investment activities in 2017, and the deployment of business plan and investment in 2018, representatives of the Board, Production, Trade and Real Estate of the Corporation are all agree and commit to complete the business plan targets in 2018 that the Corporation delivered. 

Representing shareholders from Dragon Capital Fund and Saigon Hanoi Securities Company - SHS has acknowledged and congratulated the Corporation's business performance in 2017. The shareholders also requested to make one of the Big4 as the auditor and soon exchange VGC shares into listing in HOSE. The shareholders suggestion are also included in Viglacera’s performance targets for 2018.

 

2018 is the important year for Viglacera Corporation when State ownership decrease to 36%, which mean it can basically change in owners’ equity. Viglacera’s target is to achieve 6% profit before tax higher than 2017, consolidated revenue is 9.000 billion VND, higher than 2017 6%, invest in developing the parent company is 2.000 billion VND, increase 30% compared with 2017, estimated dividend in 2018 is 9.5% per year (charter capital: 4.483 billion VND). 

 
Chairman of BOD – Mr. Luyen Cong Minh speaks at the Conference

Speaking at the conference, Chairman of the BOD - Mr. Luyen Cong Minh emphasized: Viglacera commits to follow the direction of Ministry of Construction, successfully implement withdrawal of state capital and implement investment projects on schedule. Viglacera Corporation-JSC will focus on deploying and exploiting high efficiency projects. Besides, the management will focus on management, organize meetings to publish information to shareholders, and build the route to move to HOSE at the end of 2018.

The Corporation will manage as public company through management regulation and approach enterprises that have high technology and well management in both foreign and domestic, meet market demand and make full use of international integration opportunities. 

In 2017, Viglacera Corporation-JSC has completed the key targets in the plan assigned by Ministry of Construction and General assembly of shareholders. The positive results in 2017 will be the foundation for Viglacera to continue implement the business plan in 2018 and the 5-year period of 2016-2020. In 2018, the Corporation will have a fundamental change in ownership capital , besides favorable factors such as the economy continues to recover, business environment create trust for the business community, the macro economics are stable, inflation is controlled ... These are the factors and conditions that actively promote the development of Viglacera Corporation-JSC to new heights. 

Other images at the Conference: 

 
Director of Viglacera Float Glass Company - Mr. Nguyen Minh Khoa discusses solutions to improve business performance in Construction glass 
 
Deputy General Director of the Corporation, Director of Tiles-Sanitary Wares Department - Mr. Nguyen Minh Tuan discusses about the direction of production and business in the filed of tiles in 2018
 
Director of Viglacera Ha Long JSC - Mr. Tran Hong Quang disscusses the efficiency of investment in product restructuring in the field of terracotta 
 
 Director of Corporation’s Real Estate Board- Mr. Nguyen The Chinh disscusses about Development Investment Plan of Real Estate Board in 2018

 
Director of Viglacera Trading JSC – Mr. Nguyen Van Ly talks about trade and market development in 2018

 
Director of Viglacera R&D Institute – Mr. Ngo Trung Dung talks about the overseas investment plan in Cuba in 2018

 
Chairman of Corporation Trade Union – Mr. Nguyen Quy Tuan disscusses about the direction of the Corporation’s union activities in 2018