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SZB 's General Meeting 2022: Set Turnover of 383 billions dong

SZB 's General Meeting 2022: Set Turnover of 383 billions dong

Wednesday, 27/04/2022, 16:42 GMT+7

On April 26th 2022, The 2022 Annual General Meeting of Shareholders of Sonadezi Long Binh Shareholding Company (listed code: SZB) is convened.

Sharing with shareholders at the Meeting, SZB Board of Director informs, within the year of 2021, SZB and clients at the Industrial Zones have been heavily effected by the Covid-19 pandemic. During the social distancing period (from July to October 2021), 145 clients at the Industrial Zones faced great challenges by the pandemic, 35% of clients have stopped operation and 37% of clients work perfunctorily with the rate of employees working at factory is less than 50%.

As for SZB, the prolong pandemic have hindered the compensation of Industrial Zones land clearance thus slowing down the progress of ongoing projects. Additionally, marketing plan also faced difficulties, investment projects in Industrial Zones and factories for lease have to be temporarily suspended or interrupted.

Facing these challenges, Administrative Council, Board of Director and employees at SZB have made great effforts, determination, flexibility in business and demonstrated a strong sense of responsibility therefore minimized damage to the company. As a result, 2021 revenue reached VND 315,3 billion, achieved 92,6% of the plan, after-tax profit reached VND 104,7 billion, achieved 92,7% of the plan, VND 44,6 billion in state budget contribution, dividend of 25%/charter capital.

Providing more information about the operation situation in 2021, SZB informs that due to the impact of the Covid-19, the consumption of clean water decreased by 7,2% compared to the previous year, the revenue of this segment decreased by VND 3.2 billion. At the same time, revenue from the business of infrastructure of Industrial Zones and offices for lease also reduced because company supported the customers affected by the Covid-19 pandemic about VND 14 million. Besides, business revenue from residential areas decreased by VND  9.8 billion due to delay in completing infrastructure. These factors have affected the ability of the Company to complete the 2021 business plan.

In environmental protection, the outstanding activity of SZB in 2021 is the implementation of upgrading second phase of wastewater treatment plan (WWTP) in Xuan Loc Industrial Zone with a total investment of nearly VND 34 billion, with the capacity of 1,500 m3/day and night, bringing the total treatment capacity of the plant to 2,500m3/day and night. It is expected that the second phase of the Xuan Loc Industrial Zone WWTP will officially go in operation in 2022.

According to the 2021 Annual report, Total assets of SZB as of December 31st 2021 reached VND 1,198 billion, of which long-term assets were about VND 915 billion, accounting for 76,43% of total assets.

In the year of 2022, SZB sets the target revenue of about VND 383 billion, after-tax profit about VND 103 billion, contribute VND 46 billion to the state budget and maintain the dividend payout ration of 25%/charted capital.

For Industrial Zone projects, a big goal that SZB set out this year is to focus on compensation and land clearance to clear the “leopard skin” situation at Thanh Phu Industrial Zone and promote the utilization of the land eligible for lease in this IZ. Simultaneously, SZB will lease the remaining land fund in Xuan Loc IZ; survey and plan the upgrade of the WWTP in Go Dau IZ. With an expected capacity of 1,000m3/day and night.

SZB also note that it will continue the investment of factory for lease in Thanh Phu IZ and Chau Duc IZ. It is expected that in 2022, the industrial zone infrastructure business segment will bring in about VND 239 billion in revenue, accounting for 62,5% of SZB’s total revenue.

The General Meeting of Shareholders of SZB agreed and approved the contents of the report at the meeting. The General Meeting also approved the dismissal and election of additional members of the Board of Controllers. Accordingly, Ms. Luu Thi Thuy Van was elected to be a member of the Board of Controllers and held the position of Head of the Board of Controllers.

Also on April 26th, SZB’s Administrative Council approved Mr. Tran Thanh Hai’s resignation from the position of Chairman of the Council and elected Ms. Luong Minh Hien to hold the position of Chairman of the Council for the third term (2019 – 2024). At the same time, the Administrative Council also appointed Mr. Nguyen Ba Chuyen to hold the position of General Director starting from April 26th 2022 for the third term (2019 – 2024).