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HCM: Resolution of 2014 Annual General Meeting Ho Chi Minh City Securities Corporation announced the 2014 Annual General Meeting (AGM) dated April 17, 2014 as follows:
Article
1: The 2013 AGM approved the report on activities in 2013 of the
Board of Directors (BOD) of Ho Chi Minh City Securities Corporation. Article
2: The 2013 AGM approved the Income Statement for 2013 of HSC, in
which some main indicators as below: Unit: VND mil
|
ITEM
|
2013
|
2012
|
Change (%)
|
2013 Plan
|
Comple
tion of 2013 Plan (%)
|
|
INCOME
STATEMENT (VND mil)
|
|
Revenue
|
634,760
|
562,372
|
13%
|
567,282
|
112%
|
|
Individual Clients Division
|
263,383
|
272,076
|
-3%
|
276,920
|
95%
|
|
Institutional
Clients Division
|
121,847
|
61,984
|
97%
|
67,513
|
180%
|
|
Corporate
Finance Division
|
22,556
|
9,577
|
136%
|
38,000
|
59%
|
|
Principal
Investment Division
|
84,944
|
22,275
|
281%
|
47,094
|
180%
|
|
Treasury Division
|
142,120
|
196,857
|
-28%
|
137,755
|
103%
|
|
Operating expenses
|
260,049
|
255,685
|
2%
|
250,939
|
104%
|
|
Profit
from business activities
|
374,711
|
306,686
|
22%
|
316,343
|
118%
|
|
Other
profit
|
718
|
158
|
355%
|
-
|
-
|
|
Profit before tax
|
375,428
|
306,844
|
22%
|
316,343
|
119%
|
|
Profit after tax
|
282,174
|
246,381
|
15%
|
237.257
|
119%
|
|
BALANCE
SHEET (VND mil)
|
|
Total asset
|
3,127,781
|
3,198,935
|
-2%
|
3,352,111
|
93%
|
|
Owners’ equity
|
2,247,348
|
2,162,514
|
4%
|
2,281,143
|
99%
|
|
FINANCIAL
INDICATORS
|
|
Total operating
expenses/ Total service fees
|
117.1%
|
157.4%
|
-
|
129.1%
|
-
|
|
Return on average assets
(ROAA)
|
8.9%
|
8.5%
|
-
|
7.7%
|
-
|
|
Return on average equity
(ROAE)
|
12.8%
|
11.8%
|
-
|
10.7%
|
-
|
|
INDICATORS
FOR ONE SHARE
|
|
Number
of outstanding shares
|
127,249,720
|
100,565,957
|
27%
|
100,565,957
|
127%
|
|
Earnings per share EPS –
VND
|
2,241
|
1,979
|
13%
|
2,359
|
95%
|
|
Book value per share – VND
|
17,661
|
21,503
|
-18%
|
22,683
|
78%
|
|
Dividend – VND
|
1,700
|
2,000
|
-15%
|
N/A
|
N/A
|
|
Market price at year-end –
VND
|
24,500
|
21,600
|
13%
|
N/A
|
N/A
|
|
P/E (time)
|
10.9
|
10.9
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0%
|
N/A
|
N/A
|
|
P/B (time)
|
1.4
|
1.0
|
38%
|
N/A
|
N/A
|
|
Market capital (VND mil)
|
3,117,618
|
2,172,225
|
44%
|
N/A
|
N/A
|
|
Total Shareholders’s
return
|
51%
|
69%
|
|
|
|
Article 3: The 2013 AGM approved the business plan for
2014 of HSC with the following expectations: - The financial
indicators in the business plan for 2014 of the Company as follow: Unit: VND mil
|
ITEM
|
Plan 2014
|
2013
|
Change (%)/Actual 2013
|
Q1.2014
|
%Q1.2014/Plan 2014
|
|
TOTAL REVENUE
|
744,761
|
634,760
|
17%
|
226,475
|
30%
|
|
Individual Clients Division
|
387,951
|
263,383
|
47%
|
109,610
|
28%
|
|
Institutional
Clients Division
|
129,795
|
121,847
|
7%
|
18,277
|
14%
|
|
Corporate
Finance Division
|
33,000
|
22,556
|
46%
|
75
|
0%
|
|
Principal
Investment Division
|
132,475
|
84,944
|
56%
|
69,096
|
52%
|
|
Treasury Division
|
61,540
|
142,120
|
-57%
|
29,417
|
48%
|
|
TOTAL OPERATING EXPENSE
|
306,951
|
260,049
|
18%
|
72,307
|
24%
|
|
Profit
from business activities
|
437,810
|
374,711
|
17%
|
154,168
|
35%
|
|
Other
profit
|
-
|
718
|
-100%
|
4
|
N/A
|
|
PROFIT BEFORE TAX
|
437,810
|
375,428
|
17%
|
154,172
|
35%
|
|
PROFIT AFTER TAX
|
341,492
|
282,174
|
21%
|
120,323
|
35%
|
|
Return on average
equity (ROAE)
|
15.4%
|
12.8%
|
|
5.2%
|
|
Article 4: The 2013 AGM approved the report on the
Company’s operations in 2013 of the Board of Supervision. Article 5: The 2013 AGM approved the Financial
Statements for the year 2013 including: - Independent Auditors’
report; - Balance Sheet as at
Dec 31st, 2013; - Income Statement for
2013; - Cash Flow Statement; - Notes for Financial
Statements, In
which: - Some basic items in
the 2013 Financial Statements of HSC as below: Unit: VND
|
No.
|
ITEM
|
Actual 2013
|
Actual 2012
|
|
1
|
Total revenue
|
3,127,781,068,922
|
3,198,935,315,414
|
|
2
|
Net revenue
|
634,759,577,700
|
562,371,939,466
|
|
3
|
Profit
before tax
|
375,428,362,311
|
306,844,193,438
|
|
4
|
Profit after tax
|
282,174,310,748
|
246,380,523,819
|
Article 6: The 2013 AGM approved the final cash dividend of 2013 as
below:
- Dividend Rate: 12% (equivalent
to VND1.200/ share) - Payment method: by cash - Implementation time: ·
Record
date: estimated on May 08, 2014 ·
Payment
date: estimated on May 28, 2014 - Personal income tax
(PIT): The AGM authorized the BOD to deduct the PIT of the shareholders for the
dividend income, and on behalf of the shareholders, HSC will pay their deducted
PIT to the Tax authority in accordance with the law regulations. Article 7: The 2013 AGM approved the dividend plan for
2014 of HSC as below: - Dividend rate: Based
on the Company’s actual business result at the dividend payment time, the AGM
authorized the BOD to decide the 2014 dividend rate of 12% of the par value
(equivalent to VND1.200 per share). - Payment method: by
cash - Implementation time:
The AGM authorized the BOD to choose the suitable date to pay the 2014
dividend. - Personal income tax
(PIT): The AGM authorizes the BOD to deduct the PIT of the shareholders for the
dividend income, and on behalf of the shareholders, HSC will pay their deducted
PIT to the Tax authority in accordance with the law regulations. Article 8: The 2013 AGM approved the 2013 profit
distribution plan of HSC. The details as follow: Unit: VND
|
No
|
ITEMS
|
PERFORMANCE Y2013
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PERFORMANCE Y2012
|
|
% of profit after
tax
|
AMOUNT (VND)
|
% of profit after
tax
|
AMOUNT (VND)
|
|
I
|
PROFIT BEFORE TAX
Y2013
|
|
375,428,362,311
|
|
306,844,193,438
|
|
II
|
PROFIT AFTER TAX
Y2013
|
100%
|
282,174,310,748
|
100%
|
246,380,523,819
|
|
III
|
PROPOSED
PROFIT AFTER TAX DISTRIBUTION
|
90.5%
|
255,322,717,989
|
97.6%
|
240,480,134,311
|
|
1
|
Appropriation
to Equity Funds
|
17.5%
|
49,380,504,382
|
15%
|
36,957,078,573
|
|
|
Supplementary
capital reserve
|
5%
|
14,108,715,538
|
5%
|
12,319,026,191
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|
Compulsory reserve
fund
|
5%
|
14,108,715,538
|
5%
|
12,319,026,191
|
|
Welfare and reward
fund
|
7.5%
|
21,163,073,306
|
5%
|
12,319,026,191
|
|
2
|
Cash
dividend payment
|
72%
|
203,120,470,500
|
81.6%
|
201,059,250,500
|
|
|
Interim dividend
(5% of par value)
|
17.9%
|
50,420,806,500
|
20.4%
|
50,291,151,500
|
|
Final dividend
(12.% of par value)
|
54.1%
|
152,699,664,000
|
61.2%
|
150,768,099,000
|
|
3
|
Remuneration
and budget for the Board of Directors and the Supervisory Board
|
1%
|
2,821,743,107
|
1%
|
2,463,805,238
|
|
IV
|
RETAINED PROFIT Y2013
(IV)=(II)-(III)
|
9.5%
|
26,851,592,760
|
2.4%
|
5,900,389,508
|
|
V
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RETAINED PROFITS OF THE PREVIOUS YEARS BROUGHT FORWARD
|
|
312,436,387,883
|
|
306,535,998,375
|
|
VI
|
TOTAL RETAINED EARNINGS CARRIED FORWARD
(VI)=(IV)+(V)
|
|
339,287,980,643
|
|
312,436,387,883
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Article 9: The 2013 AGM approved the authorization to the BOD to
appoint one of the Big 4 independent audit firms, approved by the State
Securities Commission of Vietnam (SSC) of auditing issuing organization, listed
and securities trading companies, to audit the Financial Statements for the
year 2014 and review the quarterly Financial Statements of HSC in accordance
with the law regulations. List of 4 audit firms: 1.
Ernst
& Young Vietnam Co., Ltd. 2.
KPMG
Vietnam Co., Ltd. 3.
Price
Waterhouse Coopers Vietnam Co., Ltd 4.
Deloitte
Vietnam Co., Ltd Article 10: The 2013 AGM approved to authorize the BOD to
decide the time and to increase foreign investors’ ownership ratio to the new
maximum in accordance with the applicable law regulations when the related
authorities promulgate the Decision on the holding rate of foreign investors on
the Vietnamese Securities Market (replacing
the Decision No. 55/2009/QĐ-TTg dated Apr 15th, 2009 on the holding rate of
foreign investors on the Vietnamese Securities Market). Article 11: This Resolution takes
effect from the signing date.
HOSE
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