Shareholders attend a meeting of Kinh Bac City Development Holding in Bac Ninh province. (Photo tinhnhanhchungkhoan.vn) Hanoi (VNS/VNA) - Firms said shareholders’ meetingswere to proceed as scheduled in March and April despite concerns over the outbreakof the novel coronavirus-caused acute respiratory disease (COVID-19).
A number of firms have announced the dates for their nextshareholders’ meetings, including construction firms Vinaconex 9 (March 26) andDat Phương JSC (March 28).
Other firms, such as Hanoi Electro-mechanical ManufacturingJSC (HEM), Vietnam Water, Sanitation and Environment JSC and Vietbac MiningIndustry Holding Corporation said their shareholders’ meetings would take placein April.
Meanwhile, a number of firms are preparing for differentscenarios including holding meetings online with shareholders.
“Our shareholders’ meeting is set to take place in April.There is time yet to decide how we will do it. Depends on how the virusoutbreak develops, we may consider doing it online,” said Do Huy Hung chairmanof the board of La Hien Cement JSC.
Last year, the cement maker’s sales reached 689 billion VND (30million USD), a slight decrease compared to the previous year. Profit, however,saw an increase of 22 percent or 38 billion VND as a result of reduced cost offinancing.
A representative from HEM said while its shareholders’meeting was likely to proceed as usual, the firm would also consider having itonline should the virus outbreak worsen.
HEM's financial report showed 82 billion VND inprofit-after-tax for 2019, a 16 percent increase year-on-year, mostly from thefirm’s investments in stocks and other financing activities.
Vietnam’s 2014 Law on Enterprises stipulates that in thescenario which numerous shareholders’ meetings are being held in differentplaces, the location of the meeting attended by the chairman of the board willbe chosen as its official location, which under the law must take place withinVietnam’s territory.
The 2014 law also allows shareholders to attend meetingsonline, to cast their votes online or to send in their votes via mail, fax oremail. However, there have been instances in which firms failed to count thosevotes, according to Government watchdogs./.
VNA
