SMC: Resolution of the annual shareholders’ meeting

SMC Investment - Trading Joint Stock Company (SMC) has informed of resolution of the annual shareholders’ meeting as follows:

Article 1:  Passing business result in 2008:

- Cosumption output: 300.000 tons

- Total sales: VND4.214 billion

- Profit after tax: VND71,9 billion

Article 2: Passing report of the Supervisory Board

Article 3: Passing the financial statement, plan of profit distribution and dividend payment in 2008, compensation for the BOD and Supervisory Board.

- The financial statement had been audited by the Consulting and Auditing Co, Ltd. (CA&A)

- Profit distribution for 2008:

+ Profit after tax: VND72,081,050,568

+ Dividend payment: VND17,584,094,400

+ Deduction for funds: VND29,184,181,970

+ Financial reserve: VND3,154,181,515

+ Production development: VND19,721,637,426

+ Bonus and welfare: VND6,308,363,029

+ Compensation for the BOD and Supervisory Board: VND312,263,970

+ Retained profit: VND24,685,406,102

Article 4: Passing business plan and investment in 2009

• Business plan 2009:

- Steels: 320,000 tons

- Total sales: VND4,200 billion

- Profit after tax: VND40 billion

• Investment plan in 2009

- The following projects are completed in 2009:

+ Office building

+ SMC Binh Duong One Limited-Liability Company.

+ The company will focus on building the project of the SMC steel – mechanic factory with area of 5.4 hectares at Phu My 1 Industrial Zone. In addition, it intends to develop 1 factory at Hiep Phuoc – Nha Be Industrial Zone.

- SMC Steel – Mechanic Factory:

+ Total investment cost: VND90 billion

+ Developing 1 factory in the Hiep Phuoc – Nha Be Industrial Zone:

+ Total area: 10.000 m2

+ Total investment cost: VND48,712,000,000

Article 5:  Passing the issue that chairman of BOD who is also General Director

Article 6: Compensation for the BOD and Supervisory Board in 2009 as 1.5% of profit after tax

Article 7: Authorizing the BOD to choose an auditing company for 2009.

Article 8: Passing dividend payment in cash for 2009 as 16%/par value

Artilce 9: Passing change of address, telephone and fax number of the company

Article 10: Passsing plan of giving bonus shares in 2009 with ratio of 3:1 (On the record date, a shareholder who owns 3 shares will receive 1 additional share).

hose

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