Phuoc Hoa Rubber Joint Stock Company announced the Resolution of Annual General Meeting 2014 as follows:
Article 1: The Meeting
approved the Board of Directors to appoint Mr Le Phi Hung as CEO.
Article 2: The Meeting
approved business results in 2013:
-
Exploitation output: 19,195.84 ton of dried latex
-
Purchasing output: 11,002.81 ton of dried latex
-
Consumption: 29,580.48 tons
-
Average
selling price: 53.79 million dongs/ton
-
Total
revenue of the parent company: 1,864.12 billion dongs.
-
Total
consolidated revenue: 2,042.18 billion dongs.
-
Profit
after tax of the parent company: 371.54 billion dongs
-
Consolidated
profit after tax: 371.64 billion dongs
Article 3: The Meeting
approved profit distribution in 2013 as follows:
-
Investment and development fund: 20% profit after
tax (or 74.31 billion dongs)
-
Bonus and welfare fund: 25% profit after tax (or 92.89 billion dongs)
-
Dividend by cash :30%/par value (or 235.47 billion dongs)
Article 4: The Meeting approved to add Investment and development fund of 70% undistributed profit of last year (or 347.57 billion dongs).
Article 5: The Meeting approved plan of production, investment, profit
distribution and dividend payment in 2014:
-
Exploitation
output: 18,500 ton of dried latex
-
Productivity
of tree garden: 1.84 ton/hectare
-
Purchasing
output: 10,000 ton of dried latex
-
Consumption:
28,500 tons
-
Selling
price: 45 million dongs/ton.
-
Total
revenue: 1,516 billion dongs
-
Profit
after tax: 267.10 billion dongs
-
Distribution of funds:
·
Investment and development fund: 20%
·
Bonus and welfare fund: 20%
-
Dividend:
30%/par value
-
Long–term
investment: 265 billion dongs.
Article 6: The AGM approved the audited financial statements in fiscal
year 2013.
-
Total
assets: VND3,403,190,796,373
-
Total
liabilities: VND1,220,753,939,142
-
Total
owner’s equity: VND2,154,996,755,826
-
Interest
of minority shareholders: VND27,440,101,405
Article 7: The Meeting
approved report of the Board of
Supervisors on operation in 2013;
Article 8: The Meeting
approved remuneration, bonus and activities expenses of the Board of Directors,
the Board of Supervisors in 2013: 0.3% profit after tax (VND1,114,628,503) and
the AGM approved remuneration, bonus and activities expense of the Board of Directors,
the Board of Supervisors in 2014: 0.3%.
Article 9: The Meeting authorized
the Board of Directors to choose one of the following firms to be the auditing
company for PHR in 2014: AVA, AASC, Deloitte Vietnam, and A&C.
Article 10: The Meeting approved
to add business lines
Article 11: The Meeting
approved to amend the company’s regulation
Article 12: This resolution
takes effect from signing date – March 12, 2014.
