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VNR: Results of Annual General Meeting of Shareholders 2009
Vietnam National Reinsurance Corporation has disclosed the results of its Annual General Meeting of Shareholders. The following resolutions were approved:
1. Report of Operating result of 2008
- Revenue of Reinsurance fee: VND 1,088.145 bil.
- Revenue of retained fee : VND 313.286 bil.
- Revenue from investment and others: VND 216.547 bil.
- Profit before tax: VND 205.094 bil.
2. Plan in 2009
- Revenue of Reinsurance fee: VND 1,000 bil.
- Revenue of retained fee : VND 330 bil.
- Revenue from investment and others: VND 185 bil.
- Profit before tax: VND 210 bil.
- Dividend payout ratio: 18%
+ First round (QIII/2009): 10%
+ Second round (QII/2010): 8%
3. Report of Supervisory Board’s activities
4. Audited financial statement 2008 and profit distribution plan:
- Profit after tax: VND 205,094,138,191
- Profit for distribution: VND 154,841,738,611</o:p>
- Investment and Development Fund: VND 3,096,834,772
- Financial reserve fund: VND 15,484,173,861
- Compulsory reserve fund: VND 7,742,086,931
- Reward and welfare fund: VND 2,732,966,666
- Dividend payment 2008 (18%): VND 120,993,192,000
- Retained earnings (including previous year profit): VND 21,447,102,642
- Bonus for Board of Directors, Management Board and Supervisory Board: VND 513,000,000
5. Payment for Board of Directors and Supervisory Board, and secretary: VND 957,723,622
6. Auditing company in 2009
- Selecting one of the five following auditing companies: AASC, KPMG Vietnam, Earnst & Young Vietnam, Pricewaterhouse Coopers and Deloitte
7. Change in the Board of Directors:
- Mr. Martin Zingg, representative of Swiss Re, will hold Director in place of Mr. Peter Gujer
- Mr. Pham Cong Tu, Director, will hold General Manager of the corporation
8. Number of Directors at the end of tenure 2005 -2009: 6
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