Annual General Meeting of Shareholders of KOSY Joint Stock Company in 2019.
The annual general meeting of Kosy Joint Stock Company in 2019 took place successfully with the participation of numerous shareholders of the company.
2018 –Breaking through strong growth
Year 2018 recorded the breakthrough of KOSY Group with breakthrough development milestones after more than 10 years of establishment and development. In addition to promoting the implementation of current real estate projects in Lao Cai, Thai Nguyen and Bac Giang and completing investment and clearance work, many new real estate projects in provinces such as Ha Nam , Ninh Binh, Ha Tinh, Lao Cai, Thai Nguyen, Long An, etc KOSY Group has achieved important imprints such as increasing charter capital to trillions of VND, opening branches in Ho Chi Minh City – officially set foot in the vibrant market in the south,etc.
In particular, this is also the year marking the transformation in expanding the field of operations of KOSY Joint Stock Company to the field of renewable energy with solar and wind power projects in Binh Thuan, Bac Lieu, etc the field is considered a step in line with the general development trend of the country and the world, demonstrating the long-term strategic vision of the Board of Directors.
Ms. Nguyen Thi Hang – Vice Chairwoman presented at the meeting on governance report in 2018
Dr. Nguyen Duc Diep – Deputy General Director presented the operating report of the Board of Directors in 2018.
In 2018, total revenue of KOSY Joint Stock Company reached over VND 900 billion, increased by 2.2 times compared to the same period in 2017. Profit before tax reached over VND 45 billion, an increase of nearly 1.7 times compared to the same period in 2017, ensuring the dividend yield for Shareholders.
Thanks to the planning vision as well as the persistent investment strategy with the mindset of “infrastructure to be successful”, aiming to create sustainable value for residents, the projects not only bring about revenue and profit, but also help to enhance the brand value of Kosy in particular and the Group in general.
2019 –Confident towards the goal of earning trillions
Confident with the positive growth momentum, in 2019, KOSY set a target of revenue of VND 1,500 billion, growing 67% compared to 2018. The profit after tax in 2019 is expected to be VND 65 billion, according to plans to increase by 44% compared to 2018. Expected dividend is 6%.
Dr. Nguyen Viet Cuong – Chairman of the Board of Directors and CEO of Kosy Joint Stock Company shares the orientation, strategic vision and business goals of KOSY in 2019
In 2019, KOSY aims to complete and put into operation 5 ongoing real estate projects, and set a plan to concentrate investment and prepare to start projects of larger scale, in the higher segment in many provinces in the country such as Ha Nam, Ninh Binh, Ha Tinh, Lao Cai, Thai Nguyen, Long An, etc. It is worth noting that these projects have a relatively large total investment, included in the economic region develops dynamically and may bring remarkable value to KOSY in the future.
In the field of renewable energy, besides speeding up the construction schedule of Nam Pac 1 and 2 hydroelectric power plant project complexes with a capacity of 34MW with a total investment of over VND 1,000 billion, the goal of generating electricity and air National grid in the second half of 2020, in 2019 KOSY shall focus on completing the investment and set the goal of starting a number of hydropower projects such as Pa Vay Su – Ta Pa Ho (capacity of 35MW) and together with the wind power project clusters in Bac Lieu right in the fourth quarter of 2019.
In particular, KOSY also completed procedures and eligible to list KOS shares from UPCoM to HoSE right in 2019.
At the meeting, the shareholders approved many important contents such as the 2019 business plan, dividend payment plan, etc and through the changes, additional election of BOD members and Supervisory Board for the term of 2018 – 2023 with a high approval rate.
The congress voted on many important issues
Accordingly, in order to improve the governance capacity, at the meeting, Mr. Do Quoc Viet and Mr. Nguyen Duc Trang were elected as members of the Board of Directors for the term of 2018 – 2023 of KOSY Joint Stock Company. Mr. Nguyen Viet Cuong continued to be trusted and elected to be the Chairman of the Board of Directors cum Chief Executive Officer.
Dr. Nguyen Viet Cuong presented congratulatory flowers to Mr. Do Quoc Viet (right) and Mr. Nguyen Duc Trang (left) who were additionally elected to join the BOD.
Nguyen Thi Hang – Vice Chairman of the Board of Directors presented a congratulation to Ms. Hoang Hai Yen and Mr. Vu Trong Ha who were elected as additional members of the Supervisory Board for the term 2018 – 2023 of CP KOSY Company
Closing the operation in 2018, Kosy Joint Stock Company continued to inherit and promote the foundation strength to continue fulfilling the plan and goals set out in 2019. Focusing on well implementing solutions related to areas of strategic planning, renewable energy, human resource management, risk management, etc to bring long-term benefits to shareholders. In particular, the consolidation of the machine with high-quality and qualified personnel, meeting the requirements of expansion and development of the company in investment, seeking and developing capital sources at home and abroad, speeding up the implementation of projects, etc. is also a special goal.
Following the journey of more than 10 years, KOSY shall have new breakthroughs, gradually improve its position in the market, focus on core values, become a sustainable multidisciplinary economic group, bringing the highest added value to shareholders, partners, workers and society.