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DVP: Resolution of the BOD
Dinh Vu Port Investment & Development JSC (HOSE: DVP) announced the resolution of the Board of Directors dated July 26, 2011:
The Board of Directors approved the following reports:
Profit and loss in Quarter II/2011 and the first six months of 2011:
- In the first six months of 2011:
- Production: 217,260 teu, increasing 14.95% from plan and increasing 19.8% from the same period of last year.
- Revenue: VND200.812 billion, increasing 16.07% from plan and increasing 44.75% from the same period of last year.
- Profit before tax: VND81.153 billion, increasing 35.3% from plan and increasing 57.52% from the same period of last year
Reason: Compared to the same period of 2010, revenue in the first six months of 2011 increased because production and export rose, including an increase of 89% in container income. Profit was high, and financial income and other income in the first six months of 2011 increased 64.03% against the same period of 2010 and accounting for 22.87% of profit before tax.
- In Quarter II/2011:
+ Production: 117.353 teu, increasing 17.35% from plan.
+ Revenue: VND107.108 billion, increasing 18.9% from plan.
+ Profit before tax: VND42.8 billion, increasing 18.9% from plan.
Business plan for Quarter III/2011:
- Production: 110,000 teu
- Revenue: VND100 billion
- Profit before tax: VND40 billion.
Production expansion:
- The Board of Directors unanimously approved a plan to establish Logistic and Towage Service Joint Stock Company to meet production requirements and develop port logistic services. The Board of Directors authorized the Management to set up a capital contribution plan to ensure that Dinh Vu Port Investment & Development Joint Stock Company will invest at least 36% of charter capital. The Board of Directors assigned CEO Nguyen Ngoc Hong and Mr. Quach Kim Hien as representatives for the Company’s stake
- The Board of Directors approved to raise the charter capital of joint venture SITC-Dinhvu. The Board of Directors assigned the Management to prepare a plan for source of capital.
- The Board of Directors approved Dinh Vu Port JSC’s demand for capital. About capital increase and invitation to strategic shareholders, the Board of Directors is considering them and will have opinions in the future
- The Board of Directors approved solutions to expense management, investment, projects, etc
About a clearance sale of motor MAZDA16H-6327: the Board of Directors approved the proposal of the CEO that the clearance sale will be executed through an internal auction in the Company.
HOSE
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