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KHA: Resolution of the Board of Directors
The Board of Directors of Khanh Hoi Import Export Joint Stock Company (KHAHOMEX) held a meeting on August 29th 2009 and approved the following issues:
1. The capital increase for a project at 360 Ben Van Don:
In the meeting on July 20th 2009, the Board of Directors had a resolution on making a capital increase plan for Building Project at 360 Ben Van Don. After the announcement, the Board of Directors received many shareholders’ opinions commenting that the supply for rental apartment market in Hochiminh is plentiful and maybe redundant next years.
The Board of Directors considered carefully and decided to postpone the implement of Project 360 Ben Van Don until suitable time. Therefore, the Extraordinary Shareholders’ Meeting on capital increase expected in October 2009 will not be held.
2. Making the 2010 plan and business targets for 2010-2015:
The Board of Directors checked all projects of the company to orient for setting up the 2010 plan and business strategies for 2010-2015. The Board of Directors unanimously expanded co-operations with partners to find, invest and develop projects, and authorized the CEO to complete and submit plans to the Board of Directors in October 2009.
3. KHA-DREAMHOUSE:
The BOD unanimously agreed to increase the company’s investment capital in KHA-Dreamhouse Consultant and Design Joint Stock Company (*) from 45% to 51% to improve design quality of Khahomex’s real estate projects.
(*) temporary translation
hose
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