Sonadezi Long Binh holds the Annual General Meeting of Shareholders in 2020

Sonadezi Long Binh Shareholding Company (Sonadezi Long Binh) has just held the 2020 Shareholders Meeting on April 21st at the office. With good growth results, Sonadezi Long Binh General Meeting of Shareholders has approved the dividend payment rate for 2019 of 25%.

This meeting was held in the context of complicated development in Covid-19 pandemic, so Sonadezi Long Binh took the initiative to prepare and organize the meeting in compliance with the State regulations to ensure safety for shareholders' representatives and participants.

Annual General Meeting of Shareholders in 2020

In 2019, with the right and close direction of the Board of Directors, the determination and efforts of the Board of Directors and employees, Sonadezi Long Binh continues to maintain the growth momentum, the results all increased compared to 2018 and basically completed 2019 plan. Sonadezi Long Binh achieved revenue of VND 347.5 billion, up 3.02% as compared to 2018 and reaching 98.45% of the plan; Profit after tax reached VND 96.6 billion, an increase of 4.7% compared to 2018 and 6.5% higher than the plan; paid to the state budget more than VND 44 billion, up 2.4% compared to 2018 and 3.2% higher than the plan. It can be said that the results of 2019 have recognized the company's efforts, in which striving to increase sales and revenue from financial activities, reduce management and operating costs are the outstanding efforts, contributing to the operational efficiency of Sonadezi Long Binh. Also in 2019, the company continued to focus resources to overcome difficulties in compensation and continued to invest in technical infrastructure in Thanh Phu Industrial Zone.

The General Meeting of Shareholders also approved the 2020 plan with the target of VND 353.4 billion of revenue, about VND 99 billion of profit after tax and VND 44.2 billion of budget payment. Regarding the investment plan of industrial zone projects and factory business, Sonadezi Long Binh will focus on exploiting 100% of industrial land in Xuan Loc Industrial Zone; promoting compensation progress in Thanh Phu Industrial Zone and exploiting parts of eligible area for lease. At the same time, Sonadezi Long Binh shall invest to build factories on those land that can exploit in Chau Duc and Thanh Phu Industrial Zone. In 2020, the company will invest in the construction and expansion of Xuan Loc Industrial Zone wastewater treatment plant phase 2, increasing the total capacity to 2,500 m3/day to meet the wastewater treatment for customers in this zone and trial using solar power to reduce electricity consumption costs in the industrial zones.