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BMI: Resolution of the 2014 annual general meeting BaoMinh Insurance Corporation (Bao Minh) has announced resolution of the 2014 annual general meeting as follows:
Article
1: Approving of the 2013 audited financial statements. - Business result of
parent company:
a)
Business result in 2013: By: dongs
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1
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Revenue from insurance premium
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2,584,667,772,694
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2
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Receiving reinsurance
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695,149,013,188
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3
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Reserve for insurance premium
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48,946,747,151
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4
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Commissions for receiving reinsurance
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110,832,089,278
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|
5
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Compensation insurance
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1,455,297,390,545
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6
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Deductions from compensation insurance
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626,413,596,116
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|
7
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Reduce reserve
for compensation
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-5,650,708,939
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8
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Reserve for large fluctuation
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19,638,932,664
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9
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Expense from Reserve for large fluctuation
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18,000,000,000
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|
10
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Expense from trading
insurance
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492,283,307,205
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11
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General and administration expense
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579,942,795,719
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12
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Profit from trading insurance
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54,831,250,653
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13
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Financial income
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191,360,622,860
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14
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Financial expense
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146,660,924,181
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15
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Financial profit
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44,699,689,679
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16
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Other profit
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3,937,641,969
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17
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Profit before tax
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103,468,591,301
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18
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Income tax
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12,561,773,296
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19
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Profit after tax
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90,906,818,005
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b) Balance Sheet: 1) Total assets: VND3,758,842,787,629 -
Short-term
assets: VND1,871,238,674,361 -
Long-term
assets: VND1,887,604,113,268 2) Total resources: VND3,758,842,787,629 -
Liabilities:
VND1,694,501,695,092 -
Owner's
equity: VND2,064,431,092,537 - Consolidated Business
result:
a)
Business result in 2013: By: dongs
|
1
|
Revenue from insurance premium
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2,584,667,772,694
|
|
2
|
Receiving reinsurance
|
695,149,013,188
|
|
3
|
Reserve for insurance premium
|
48,946,747,151
|
|
4
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Commissions for receiving reinsurance
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110,832,089,278
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|
5
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Compensation insurance
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1,455,297,390,545
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|
6
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Deductions from compensation insurance
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626,413,596,116
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|
7
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Reduce reserve for compensation
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-5,650,708,939
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|
8
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Reserve for large fluctuation
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19,638,932,664
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|
9
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Expense from Reserve for large fluctuation
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18,000,000,000
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|
10
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Expense from trading
insurance
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492,283,307,205
|
|
11
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General and administration expense
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579,942,795,719
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|
12
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Profit from trading insurance
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54,831,250,653
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13
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Financial income
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195,998,458,805
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|
14
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Financial expense
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174,669,802,020
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15
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Financial profit
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21,328,656,785
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16
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Other profit
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3,648,018,129
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17
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Profit in joint venture
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25,502,430,376
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18
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Profit before tax
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105,310,375,943
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19
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Income tax
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14,490,436,195
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20
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Profit after tax
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90,819,939,748
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Interest of minorities shareholder
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1,335,954,180
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Interest of Bao Minh
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89,483,985,568
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b) Balance Sheet: 1) Total assets: VND3,967,680,607,949 -
Short-term
assets: VND2,186,534,943,813 -
Long-term
assets: VND1,781,145,664,136 2) Total resources: VND3,967,680,607,949 -
Liabilities:
VND2,165,839,369,158 -
Owner's
equity: VND94,878,143,462 Article
2: Approving of the 2013 business report and 2014 plan of the BOD. Article
3: Approving of the control report of the Supervisory Board. Article
4: Approving of the 2013 profit allotment: Plan for profit after tax distribution until
December 31, 2013: 1)
Profit after tax in 2013: VND90,906,818,005 2)
Profit due to exchange rate differences: VND5,755,997,113 3)
Compulsory reserve fund (5% of profit after tax): VND4,545,340,900 4)
Reserve fund for
supplementing charter capital (5% of profit after tax): VND4,545,340,900 5)
Compensation for the BOD and the Supervisory Board (0.4% of profit after tax): VND363,627,272 6)
Bonus fund of the BOD and the Supervisory Board (0.25% of profit after tax): VND227,267,045 7)
Profit for staff bonus & welfare = 01 salary month: VND18,217,351,342 8)
The 2013 profit for dividend: VND57,251,893,433 9)
Total profit for dividend before 2012: VND18,656,413,018 10) Total profit for dividend: VND75,908,306,451 11) The 2013 dividend (10% of
the paid-in capital): 755,000,000,000 x 10% = VND 75,500,000,000 12) The remaining profit: VND6,164,303,564 Article
5: Approving of the 2013 compensation and 2014 plan for the BOD and the
Supervisory Board: 1)
The 2013 compensation for the BOD and the Supervisory Board: VND363,627,272
and VND227,267,045 2)
The 2014 compensation for the BOD and the Supervisory Board
will be similar to 2012 compensation: 0.4% of profit after tax 3)
The 2014 bonus: the AGM will be approved after the 2014 financial statements. Article
6: Approving of the 2014 business plan: 1)
The 2014 business plan of the parent company: -
Total revenue: VND2,895 billion (increasing 4.3% compared to
2013) -
Insurance trading: VND2,743 billion (increasing 6.1%) ·
Revenue from primary insurance: (increasing 6.2%) VND2,443
billion ·
Revenue from receiving reinsurance: (increasing 5.3%): VND 300
billion ·
Revenue from primary insurance trading: (increasing 8.4%):
VND 66 billion -
Financial revenue: (increasing 80%): VND 152 billion -
Profit before tax: (increasing 17.2%): VND121.3 billion -
Profit before tax: (increasing 13.8%): VND103.4 billion 2)
The 2014 consolidated business plan: -
Total revenue: VND2,895 billion (increasing 4.3% compared to
2013) ·
Revenue from primary insurance: (increasing 6.2%):VND2,443
billion ·
Revenue from receiving reinsurance: (increasing 5.3%): VND 300
billion ·
Financial revenue: (increasing 80%): VND 196 billion -
Profit before tax: (increasing 98.4%): VND105.3 billion -
Assigning the BOD & Management Board to implement the works Article
7: Approving of the audited firm for 2014 audit statements. (AASC, Deloitte,
E&Y, Price waterhouse Coopers VietNam, KPMG). Article
8: Approving report of the Board
of Supervisors and the Board of Directors Article
9: Approving election result of the
Board of Supervisors and the Board of Directors in 2014-2019: The Board
of Directors in 2014-2019: 1) Mr.
Tran Vinh Duc 2) Mr.
Le Song Lai 3) Mr.
Dang Nhu Loi 4) Mr.
Robhit Manbiar 5) Mr.
Clause Seigne 6) Mr.
Le Van Thanh 7)
The Board of
Supervisors: 8)
Mr. Nguyen Tien
Dung 9)
Mr. Martial
Simonnet 10) Ms. Le Minh Tuyet Article
10: Approving to increase charter capital.
HOSE
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