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BHC: Results of annual general meeting of shareholders 2011
Bien Hoa Concrete Joint Stock Company (HNX: BHC) has disclosed the results of its annual general meeting of shareholders held on 22/03/2011. Participants were 57 representing 3,010,284 shares (Accounting for 66.90% of charter shares). The following resolutions were approved:
1. Operating and investment results 2010. Operation and investing plan with following targets:
1.1. Operating and investment results 2010
a) Operating results:
- Gross weight: 310 bil.VND, 100% compared to plan and equaling 185% compared to 2009’s
- Sales value: 258 bil.VND, 86% compared to plan and equaling 163% compared to 2009’s
- Productive volume: 106,433 m3, 69% compared to plan and equaling 136% compared to 2009’s
- Profit before tax: VND 7,78 bil.VND, 88.4% compared to plan and equaling 3.929% compared to 2009’s
- Profit after tax: VND 5,83,bil.VND, 88.3% compared to plan and equaling 3.038% compared to 2009’s
- Rate of return (before tax): 3%
- Rate of return (After tax)/ owner’s equity: 13%
- Earning per share: VND1,296
- Dividend: 12%
- Amortized value of fixed asset: 6,3 bil.VND, 57% compared to 2009’s
- Total wage fund: 20,7 bil.VND, equaling 144% compared to 2009’s
- Average income: 4,6 bil.VND/person/month, equaling 127% compared to 2009’s
- Short-term borrowing quota: 25 bil.VND
- Pay-back value: 261 bil.VND, 80% of schedule, equaling 183% compared to 2009’s
- Receivables from customers (31/12/2010): 85 bil.VND, equaling 135% compared to 2009’s
b) Investment results 2010:
Investment value of 2010 was 1,12 bil. VND. Equaling 5.33% of schedule. Including:
- At parent company: 780 mil. VND
- At subsidiary company (An Hoa): 344 mil. VND
1.2. Operating and investment targets:
a) Operating targets
- Gross weight: 340 bil.VND, 110% compared to 2010’s
- Sales value: 300 bil.VND, 116% compared to 2010’s
- Consumtion productive volume: 115,000 m3 , 108% compared to 2010’s
- Profit before tax: VND 10,0 bil.VND, 128.53% compared to 2010’s
- Profit after tax: VND 7,5 bil.VND, 128.58% compared to 2010’s
- Rate of return (Before tax): 3.33%, equaling 110.46% compared to 2010’s
- Rate of return (After tax)/ owner’s equity: 17%, equaling 128.58% compared to 2010’s
- Expected Dividend: 12%-15%
- Amortized value of fixed asset: 6,8 bil.VND, 108% compared to 2010’s
- Pay-back value: 320 bil.VND, 122.6% compared to 2010’s
- Average income: 4,5 bil.VND/person/month, equaling 100% compared to 2010’s
b) Investing targets 2011:
Investment value of 2011 was 36,000 mil. VND, includes:
- At parent company: 2,500 mil. VND
- At subsidiary company (An Hoa): 2,000 mil. VND
- Investment in concrete plant at Nghi Son: 30,000 mil. VND
2. Audited consolidated financial statement 2010 and profit distribution and dividen payment plan 2010.
- Profit after tax: 6.025.587.593VND
- Dividend paymen 2010: 5.400.000.000VND
- Remaining profit for setting up funds: 625.587.593VND.
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