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S12: Board Resolution
Song Da 12 JSC announces the Board Resolution approved on 6/11/2008 as follows:
1. Operating results of QIII/2008 and the first 9 months of 2008:
1.1. Operating results of QIII/2008
|
No. |
Items |
Unit |
Completed QIII/2008 |
Planned QIII/2008 |
% completed |
|
1 |
Total production and business |
VND bil. |
50.64 |
68.00 |
74.46 |
|
Construction |
VND bil. |
27.24 |
37.70 |
72.72 |
|
Industrial production |
VND bil. |
2.39 |
3.65 |
65.38 |
|
Business |
VND bil. |
20.88 |
25.92 |
80.55 |
|
2 |
Revenue |
VND bil. |
59.33 |
86.77 |
68.38 |
|
3 |
Payables to the State |
VND bil. |
3.12 |
4.25 |
73.27 |
|
4 |
Profit |
VND bil. |
7.89 |
2.32 |
10.8 |
|
5 |
Average income |
VND mil. |
2.14 |
2.23 |
96 |
|
6 |
Investment |
VND bil. |
3.80 |
3.71 |
103 |
1.2. Operating results of the first 9 months of 2008:
|
No. |
Items |
Unit |
Completed in first 9 months 2008 |
Adjusted 2008 plan |
% completed |
|
1 |
Total production and business |
VND bil. |
201.09 |
300 |
67.03 |
|
Construction |
VND bil. |
115.27 |
172.70 |
66.75 |
|
Industrial production |
VND bil. |
8.29 |
12.84 |
64.53 |
|
Business |
VND bil. |
77.16 |
113.03 |
68.27 |
|
Other |
VND bil. |
0.37 |
1.43 |
26.19 |
|
2 |
Revenue |
VND bil. |
175.26 |
251.78 |
69.61 |
|
3 |
Payables to the State |
VND bil. |
6.87 |
10.11 |
67.96 |
|
4 |
Profit |
VND bil. |
10.80 |
10.37 |
104.08 |
|
- Production and business |
VND bil. |
4.95 |
|
|
|
- Financial investment |
VND bil. |
5.85 |
|
|
|
- Profit/revenue ratio |
% |
6.16 |
|
|
|
5 |
Average income |
VND mil. |
2.19 |
2.37 |
94 |
|
6 |
Investment |
VND bil. |
11.45 |
28.68 |
39.9 |
Value in progress – Receivable debt:
Value in progress as of 30/9/2008: VND 108.6 bil.
Receivable value as of 30/9/2008: VND 102.28 bil.
2. Achievement:
- Kept the progress of projects: Tuyen Quang, Huoi Quang, Son La, Ban Ve hydro power projects, Ha Long cement project.
- In QIII/2008, the company won 2 construction contracts with the total value VND 57.95 bil. and for the first 9 months of 2008, 6 construction contracts with the total value of VND 103.71 bil.
- Investment: basically completed construction of Hoa Binh adjoining urban residential area project. Kept progress of projects: unloading and discharging berth and entrepot in Hai Phong; BMM high quality apartment building in Ha Dong city; capital contribution in PV Inconess JSC worth VND 1.5 bil. (100% of the plan.)
- Changed the branch of the company in Hai Duong city into Business Department and merged into Song Da 12.3 enterprise to focus on supplying the material to significant works of Song Da corporation.
- Adjusted 2008 production and business plan.
- Transfered SDD, VIS, STP shares to have more working capital for new projects.
- Liquidated the asset and recovered VND 1.17 bil. in QIII and in the first 9 months.
3. QIV/2008 plan and solutions:
3.1 QIV/2008 plan:
- Total production and business: VND 100.6 bil. = 34% 2008 plan in which:
+ Construction: VND 66.89 bil. = 49% the plan
+ Industrial production: VND 2.98 bil. = 23% the plan
+ Business: VND 29.55 bil. = 26% the plan
+ Other: VND 1.18 bil. = 83% the plan
- Revenue: VND 134.32 bil. = 53% the plan
- Payable to the State: VND 6.65 bil. = 66% the plan
- Profit: VND 4.38 bil. = 42% the plan in which from:
+ Production and business: VND 3.08 bil.
+ Financial investment: VND 1.29 bil.
- Dividend payment: 12%
- Average income: 2.645
3.2. Solutions:
- Speed up the capital recovery, debt recovery.
- Build the road and steps to issue additional share to increase the charter capital in an appropriate time.
- Plan to sell old shares to invest in high potential JSC
- Draw up plan for capital mobilization and using for projects.
HaSTC
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