In the morning of June 29, 2020, at Que Vo Industrial Park - Bac Ninh Province, Kinh Bac City Development Corporation (KBC) has successfully organized the Annual General Meeting of Shareholders in 2020. The General Meeting has approved Regulations of organizing The General shareholders’ meeting  by the form of online and electronic voting of KBC; Operation report in 2019 and operation plan in 2020 of the Board of Directors; Report on business activities in 2019 and the plan in 2020 of the Board of Directors; Report on supervisory activities in  2019 of the Supervisory Board; Audited financial statements in 2019 of the Corporation; Plan to select an auditing unit for financial statements in 2020; Remuneration plan for the Board of Directors, the Supervisory Board, and report on the salaries and commission of the Head of the Supervisory Board and the Management Board.

Attending the Meeting (online, offline or through authorization) are 63 shareholders representing 326,121,435 shares, accounting for 69.4230% of the voting shares. Chairman Dang Thanh Tam attended the meeting in online form. On behalf of the Presidium, Ms. Nguyen Thi Thu Huong - Member of the BOD chaired the Meeting.

Ms. Nguyen Thi Thu Huong was elected as the Chairperson on behalf of the Chairman of BOD to run the General meeting

Attending the meeting in the form of online, Mr. Dang Thanh Tam - Chairman of the BOD shared that in 2019, KBC's business activities in particular and the whole country in general were set in the context of global slowdown. However, KBC also made efforts with all the enthusiasm of BOD, BOM and all staff and made significant achievements as followings: In 2019, the Group's consolidated revenue reached VND 3,289.2 billion, equal to 127.5% compared to 2018, and 84.6% compared to the plan. In particular, revenue from core business activities including: Leasing land, selling and leasing factories, selling real estate products and related services reached VND 3,209.9 billion, equaling 128.9% compared to 2018. The Group's consolidated profit after tax in 2019 reached VND 1,040.8 billion, equaling 128.7% compared to 2018, and 100.5% compared to the plan. Investment and development activities in industrial parks and related services still play a key role of the Group, growing well compared to 2018 and expected plan. Thanks to its outstanding achievements in production & business and investment attraction activities, KBC has received the Government's Emulation Flag 12 times and will continue to receive the Emulation Flag in 2020.

In 2020, the Group will continue to invest in the construction of infrastructure of Quang Chau Industrial Park, Nam Son - Hap Linh Industrial Park, Tan Phu Trung Industrial Park, Phuc Ninh New Urban Area, Trang Due Urban Area to create available products meeting the needs of investors.

Mr. Dang Thanh Tam - Chairman of BOD reports on the performance of the Board of Directors and shares the development prospects of KBC in the near future

Also at the Meeting, Ms. Nguyen Thi Thu Huong - General Director of KBC shared very detailed business plans of the Corporation: In 2020, KBC is also bidding for many urban area ad large scale industrial park projects which are also expected to receive winning results and this year, KBC will proceed to establish new industrial parks and new urban areas; Planning programs to promote overseas investment, adhering to the Government's economic development goals, benefits from trade agreements that Vietnam has signed, and access to new markets.

Ms. Nguyen Thi Thu Huong - Deputy General Director of KBC reported business results

Based on the results of FDI attraction in 2019 and the prospect of Vietnam's FDI attraction in 2020; Basing on macroeconomic situation, the land and factories leasing demands of potential customers who have been negotiating with KBC, the investment promotion programs of KBC, the interest of investors in commercial real estate products in KBC's Urban Area , etc, KBC's BOD sets a consolidated profit target for the Group in 2020 under two options as follows:

- Under a satisfactory solution: Total estimated consolidated revenue of VND 3,200 billion. Estimated consolidated profit after tax of VND 816 billion.

- Under a positive plan: Total consolidated revenue is expected at VND 3,600 billion. The total consolidated profit after tax is expected to be VND 1,000 billion.

The shareholders attending the meeting agreed with the contents presented by the Board of Directors of the Corporation and highly appreciated the successes that the Board of Directors, Board of Management and all employees of the Corporation have tried to achieve in 2019. The resolution of the General Meeting has been approved at a rate of 100% of the total votes of attending shareholders.

The the General Meeting took place successfully and ended at 12:00 on the same day.

 

Kinh Bac City Development Corporation would like to announce the full Minutes and Resolution of the Annual General Meeting of Shareholders in 2020.

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