Urban Development and Construction Corporation (UDEC) announced the resolution of the Board of Directors on May 15, 2012:
Article 1: The Board of Directors approved:
- Profit and loss in Quarter 1/2012 and Plan for Quarter 2/2012:
1. Profit & loss in Quarter 1/2012:
- Total revenue: VND58,555,913,604
- Profit before tax: VND651,118,415
- Profit after tax: VND651,118,415
1. Plan for Quarter 2/2012:
- Total revenue: equal to or higher than the revenue of VND78.5 billion in Quarter 2/2011.
- The share transfer in Viet Nam Golf Tourism Joint Stock Company (VINAGOLF) and Vung Tau Cable Car Tourism (VCCT):
- The transfer price in VINAGOLF: VND13,000/share.
- Transfer volume: 2,730,000 shares (equivalent to 21/51% of owning shares in VINAGOLF)
- The transfer price in VCCT: not lower than the par value of VND100,000/share.
- Transfer volume: 225,000 shares (all owning shares in VCCT).
- The Board of Directors approved to sell receivables in Tan Tao Investment Industry Corporation and Tan Duc Investment Corporation:
- The Directorate will hire lawyers to resolve the receivables. If the problems cannot be resolved by the Court, UDC will sell the receivables to the Debt Trading Corporation.
- The Board of Directors approved the personnel appointment:
- Appointing Mr. Nguyen Anh Dung as Manager of Technology Department as from June 01, 2012.
- Appointing Mr. Tran Quang Hung as Deputy Director of Construction Enterprise as from June 01, 2012.
- Dismissing the title Chairman of the Member Board of UDEC Tourist Co., Ltd. of Mr. Trinh Hang.
- Appointing Mr. Ho Thanh Con, a member of the Board of Directors and Deputy CEO, as Chairman of the Member Board of UDEC Tourist Co., Ltd.
- The Board of Directors approved other issues as follows:
+ Authorizing the CEO to choose partners to share investment and to manage together or transfer all project Golf Phu My Hotel.
+ Financing interest to UDC’s employees to buy apartments in Bau Sen Building, Hochiminh, Vietnam.
Article 2: This resolution took effect from May 15, 2012.
