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KBC: Board Resolution
Kinh Bac City Development Share Holding Corporation announces the Board Resolution approved on 08/10/2009 as follows:
1. Plan to implement the diplomatic quarter project:
- Company joined partnership to develop the project to pay for compensation, and build the infrastructure. So, this is a good joint-venture, bringing advantages for both sides
- Now, the company had prepared enough resources used for project
- The company will have this project managed by prestigious international organizations
- The company will try to complete the project as soon as possible to increase the image of the company in Hanoi.
- Management board has to sign consultancy contract to design the project. Also, company can implement the project in early 2010 and basically complete it in 2012
2. Implement the Five-star Hotel project and Multi- function center
3. Direction on creating Joint venture with foreign partners
Management board wills contact Ascendas to complete documents required to invest in USD 500 million project. Company will pool 40%, equalling USD 80 million ( by land or/ and money) of USD 200 million of Charter Capital.
4. Adjustments in operating plan in 2009
Because the economy in Vietnam is better, so the Management board will adjust the operating plan in 2009 and make a plan to pay dividend payment 2010.
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