- Posted by: PR & Marketing
- Category: News release
Halcom Vietnam JSC (stock code: HID) successfully held the Annual General Meeting of Shareholders (AGM) in 2021 with the support of technology via the electronic voting system of the Vietnam Securities Depository Center on July 15, 2021 and a virtual meeting on July 18, 2021 with the attendance of the Board of Directors (BOD), the Board of Management, the Internal Audit Committee and shareholders.
The total number of shareholders participating in electronic voting is 33, owning 33,774,988 voting shares and accounting for 57.48% of the total number of voting shares. Main issues voted for are: Management report of the Board of Directors on business outcome in 2020 and business plan in 2021; Report of the Internal Audit Committee in 2020 and implementation plan in 2021; Consolidated audited financial statements for 2020; Profit distribution plan in 2020; The plan to issue shares to pay dividends in 2020 and to increase charter capital; The plan to issue shares to existing shareholders and issue shares under private placement and some other important issues.
At the virtual meeting, the Board of Directors presented in details the issues of the approved reports as above. Accordingly, Halcom Vietnam has had a prosperous 2020 business with renewable energy projects – Phuong Mai 3 wind power in Binh Dinh and Hau Giang solar power coming into operation stably . This is the basis to create momentum for the Company to continue promoting the implementation of the strategic investment project portfolio which is promised in the medium and long-term development plan.
According to the audited financial statements for 2020, the company has achieved some business results as follows:
- Total revenue: 338 billion VND
- Profit after tax: 3.08 billion VND
- Undistributed after-tax profit (as of March 31, 2021): VND 24.24 billion
- Dividend ratio in share distribution: 3.5%/Charter capital
Regarding the development strategy in the period of 2021-2026, the Company aims to reach 300-500MW of renewable energy (including wind power and solar power), 100 billion VND/annum of consulting revenue; and continue to promote advantages of applying the Corporate Compliance Program (CCP) in management, administration & 20 years of consulting ODA projects, proactively improve financial capacity, innovate thinking and science and technology application to become become a pioneer in sustainable infrastructure development and green development projects (renewable energy, waste to energy, water supply and drainage); and reach abroad to get more cooperation opportunities.
The General Meeting of Shareholders voted to approve the business plan for 2021 with business targets and the expected distribution of profit after tax as follows:
- Total revenue: 340 billion VND
- Profit after tax: 21.6 billion VND
- Dividend ratio in share distribution: 2.5%/charter capital
The General Meeting of Shareholders of Halcom Vietnam agreed with the plan to increase charter capital through the issuance of shares with a total offering value of VND 500 billion. The purpose of this issuance is to simultaneously implement investment projects according to the medium and long-term development plan: the clean water supply system project in Nhon Hoi economic zone in Binh Dinh, the offshore wind power project in Quang Binh, waste to energy project in Long An and Phuong Mai 3 Resort project. These activities will make Halcom’s vision of becoming a pioneer in sustainable urban and infrastructure development in Vietnam and Southeast Asia come true.
With the characteristics of a project investment company, the company’s profit has certain fluctuations. Accordingly, during the investment period, the profit stream may be lower than expected. However, the company has been and will be calling for the participation of foreign and domestic shareholders in projects, thereby profits for shareholders will increase soon. There are many partners from Korea, Japan, Switzerland and some domestic corporations who are interested in negotiating to buy shares of project companies as well as the parent company Halcom Vietnam, and becoming strategic shareholders of the company company. Therefore, in the short term, the stock price does not reflect the true value of the company. The book value is currently 13,000 VND/share.
The General Meeting received and recorded comments and answered questions from shareholders in order to well implement the business plan in 2021. The 2021 Annual General Meeting of Shareholders of Halcom Vietnam JSC. took place successfully with the consensus, trust and recognition of the shareholders attending on the “green” and sustainable direction of the Company.