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SGH: Results of Annual General Meeting of Shareholders 2011
Saigon Hotel Corporation (HNX: SGH) has disclosed the results of its Annual General Meeting of Shareholders held on 15/04/2011. The following resolutions were approved:
1. Operating Results of 2010:
- Total revenue: VND26,364,185,502
- Profit before tax: VND10,917,481,332
- Profit after tax: VND8,320,385,724
- Profit for distribution: VND7,436,755,000
- Operating Expenses of the BOD and Supervisory Board : VND185,918,875
- Bonus for Leaders (5% of profit after tax): VND371,837,750
- Setting up Bonus and Welfare Fund (5% of profit after tax): VND371,837,750
- Expected Dividend payment: VND3,532,600,000
- Retained earnings: VND2,974,560,625
2. Operating Plan in 2011:
- Revenue: VND26,500million
- Profit before tax: VND11,200million
- Profit after tax: VND8,400million
- Dividend payment: 20%of charter capital
3. The BOD is authorized to select auditor for 2011.
4. Operating Expenses of the BOD and Supervisory Board:
- Expenses in 2010: 2.5% of profit after tax
- Plan of Expenses in 2011: 2.5% of profit after tax
5. Election of additional members for the BOD:
Mr. Nguyen Van Tan is elected Director, Representative for capital of Bong Sen Corporation at Saigon Hotel Corporation.
6. Repair and renovation of Saigon Hotel Corporation.
Resources: Retained earnings, Investment and Development Fund, Depreciation and Borrowing resources.
- Total expected expenses: VND68,300million
- Amount of Retained earnings, Investment and Development Fund and Depreciation: VND24,500million
- Banking loan: VND43,800million.
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