BaoMinh Insurance Corporation (Bao Minh) has announced resolution of the 2012 annual general meeting as follows:
Article 1: Approving of the 2011 audited
financial statements.
Article 2: Approving of the 2011 business
report and 2012 plan of the BOD.
Article 3: Approving of the control
report of the Supervisory Board.
Article 4: Approving of the 2011 profit
allotment:
-
Profit after tax: 109,780,160,088 dongs
-
Profit from exchange difference unallotted to 2011 dividend: 16,559,978,359
dongs
-
Compulsory reserve fund (5% of profit after tax): 5,489,008,004
dongs
-
Investment and development fund (5% of profit after tax): 5,489,008,004
dongs
-
Sanctions under the Law after subtracting personal indemnity
and real expenses but unrecorded into the 2011 expenses: 413,875,479 dongs
-
Compensation for the BOD and the Supervisory Board (0.4% of profit after tax): 439,120,640 dongs
-
Profit for staff bonus & welfare (12% of profit after tax): 13,173,619,211 dongs
-
The 2011 profit for dividend: 68,215,550,391
dongs
-
The remaining profit before 2011: 139,489,188,683 dongs
-
Total profit for dividend: 207,704,739,074 dongs
-
The 2011 dividend (12% of the paid-in capital):
755,000,000,000 x 12% = 90,600,000,000 dongs
-
The remains: 133,664,717,433 dongs
Article 5: Approving of the 2011
compensation and 2012 plan for the BOD and the Supervisory Board:
-
The 2011 compensation for the BOD and the Supervisory Board:
439,120,640 dongs
-
The 2011 bonus: 0 dongs
-
The 2012 compensation for the BOD and the Supervisory Board
will be similar to 2011 compensation: 0.4% of profit after tax
-
The 2012 bonus: 0.25% of profit after tax
Article 6: Approving of the 2012 business
plan:
-
The 2012 business plan of the parent company:
+
Total revenue: 2,931 billion dongs (increasing 10.4% compared
to 2011) (exclusive revenue of agriculture insurance under the Government’s
instruction)
+
Revenue from primary insurance: (increasing 13.7%) 2,421
billion dongs
+
Revenue from receiving reinsurance: (increasing 4.3%) 230
billion dongs
+
Financial revenue: 280 billion dongs
+
Profit before tax: (increasing 30.7%) 170 billion dongs
+
Profit after tax: (increasing 30.2%) 143 billion dongs
+
Profit of primary insurance business: 40 billion dongs
-
The 2012 business plan of the parent company and its
subsidiaries:
+
Total revenue: 2,931 billion dongs (increasing 10.4% compared
to 2011) (exclusive revenue of agriculture insurance under the Government’s
instruction)
+
Revenue from primary insurance: (increasing 13.7%) 2,421
billion dongs
+
Revenue from receiving reinsurance: (increasing 4.3%) 230
billion dongs
+
Financial revenue: 280 billion dongs
+
Profit before tax: (increasing 9.4%) 193 billion dongs
+
Profit after tax: (increasing 7.4%) 151 billion dongs
+
Profit of primary insurance business: 40 billion dongs
-
Assigning the BOD & Management Board to implement the
following works:
+
Developing and expanding its products; checking the legal
terms for the products; controlling risks for receiving orders and procedure.
+
Checking personnel efficiency, branches’ business efficiency
and products with high indemnity.
+
Pushing indemnity procedure for clients and checking
indemnity provision.
+
Confirming and collecting debts of insurance fees.
+
Checking expenses to reduce overhead about 30 bil. dongs.
+
Making rules for reserve provision.
+
Rebuilding investment portfolio, focusing non-life insurance
business and improving technology.
Article 7: Approving of the audited firm
for 2012 audit statements.
Article 8: Approving of appointment of
Mr. Prasanna Rajashekhar represented for AXA to a Member of the BOD in term
2009-2014 to replace Mr. Nguyen Dinh Khang. Approving of appointment of Mr.
Nguyen Nhu Khoa represented for VinaFood2 to Member of the Supervisory Board in
term 2009-2014 to replace Mr. Nguyen Ky Trung and Mr. Tran Duc Hiep represented
for SCIC to Member of the Supervisory Board in term 2009-2014 to replace Mr. Le
Anh Son.
Article 9: The resolution is valid as
from 24 Apr. 2012.
