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SFI: Resolution of the annual shareholders’ meeting
Sea & Air Freight International (SAFI) has informed of resolution of the annual shareholders’ meeting which was held on April 25th 2008. The meeting was unanimous the following issues:
Article 1: Reports of the BOD and Supervisory Board on operation, management of the company and business result in 2007
- Total revenue (including Cosfi joint venture): VND100,517,739,118
- Total expenses: VND83,566,331,009
- Total profit before tax: VND16,951,408,109
- Corporate income tax: VND3,292,645,584
- Profit of Yusen Air & Sea Service (Vietnam) Co,, Ltd, (between SAFI and YAS): VND12,955,645,150
- Profit after tax: VND26,614,326,675
In which:
Minority interest (Cosco Singapore): VND3,144,143,901
Profit of parent company: VND23,470,182,774
Article 2: Plan of using profit and dividend payment in 2007
- Dividend payment in stock (15%): VND3,604,545,000
- Deduction for financial reserve fund: VND420,247,801
- Deduction for welfare and bonus fund: VND2,101,239,003
- Deduction for development investment fund: VND2,278,924,208
Article 3: Raise of chartered capital in 2007:
- Registered chartered capital: VND11,385,000,000
- Capital of additional issuance to shareholders and employees: VND11,949,800,000
- Capital of issuance through auction: VND695,500,000
- Dividend payment in stock: VND3,604,500,000
- New chartered capital: VND27,634,800,000
Article 4: Business plan, investment and raise of capital in 2008
a) Financial criteria :
- Total revenue (including Cosfi joint venture): VND103,000,000,000
- Total profit before tax: VND18,000,000,000
- Profit after tax: VND10,500,000,000
- Profit of Yusen Air & Sea Service (Vietnam) Co,, Ltd, (between SAFI and YAS): VND13,500,000,000
- Total profit after tax: VND24,000,000,000
- Dividend payable: 12%
b) Investment projects:
+ Projects from 2007:
Warehouse in Dist.7, HCMC: VND2,200,000,000
Warehouse and branch in Danang: VND10,000,000,000
SAFI office building (209 Nguyen Van Thu, Dist,1, HCMC): VND20,000,000,000
Total disbursement: VND32,200,000,000
+ Projects in 2008:
Joint venture with KCTC: VND1,500,000,000
Joint venture with SITC: VND2,500,000,000
Contribute to set up Dung Quat Port development joint stock company: VND7,500,000,000
Invest to business management software: VND2,200,000,000
Purchase trailers and container transports: VND4,000,000,000
Contribute to set up warehouse construction joint stock company outside Hanoi: VND30,000,000,000
Total investment cost: VND47,700,000,000
c) Plan of raising capital 2008:
Issue shares to existing shareholders with ratio 1:1 at VND15,000/share
Article 5: Authorize the BOD to select an auditing firm in 2008
Article 6: Regulations of internal management of the company
Article 7: Authorize the BOD to implement contents of the resolution
Article 8: The resolution is valid from April 25th 2008.
HoSE
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