Tin Nghia holds its first shareholders' meeting after equitization

(ĐN)- Tin Nghia Corporation, the second largest State-owned corporation in Dong Nai Province, on May 12 successfully organized its shareholders' meeting in Bien Hoa city.

 

(ĐN)- Tin Nghia Corporation, the second largest State-owned corporation in Dong Nai Province, on May 12 successfully organized its shareholders’ meeting in Bien Hoa city.

This is the first shareholders’ meeting held by Tin Nghia after equitization, marking by completion of selling initial public offerings (IPOs) on April 1, 2016.

Vice Secretary of the provincial Party Committee Tran Van Tu presents flowers to congratulate shareholders’ meeting

Currently, Tin Nghia has charter capital of nearly VND1.6 trillion. Of which, 50 percent belong to the State, 35 per cent of its stake hold by strategic investors, while the rest belongs to the other shareholders.

The meeting has adopted Tin Nghia’s business plans for the remaining 7 months of the year and visions for 2017-2020 period. Accordingly, the corporation has set the target of remaining its ranking among top 100 out of 500 Vietnam’s biggest companies as well as to be one of the leading coffee exporters in Vietnam.

Tin Nghia will continue to develop the four key areas of IP development, petroleum trading, import-export and logistics. In addition, the corporation also plans to spend VND3.4 trillion and VND1.77 trillion on expanding An Phuoc IP and Ong Keo IP, respectively, and VND930 billion on a petroleum storage project in Phu Huu Commune. It would also invest VND92 trillion in a 40ha port in Nhon Trach District.

At the meeting, the board of shareholders also elected new five-member executive board and three-member controlling board. Mr Quach van Duc was elected as Chairman of Tin Nghia’s managerial board.

Reported by K.N