On the morning of May 2, 2024, Ba Ria – Vung Tau House Development Joint Stock Company (HODECO) successfully organized the 2024 Annual General Meeting of Shareholders.
The Meeting approved the report on production and business activities in 2023 and the production and business plan for 2024.
In 2023, despite facing many difficulties and challenges in the construction and real estate market, HODECO still achieved positive results. The Company’s revenue reached 672 billion VND, contributed 157.3 billion VND to the State budget, and paid dividends to shareholders of 15% in shares.
The Presidium chairing the congress
During the year, HODECO also built key and outstanding projects that created positive impressions such as: Hai Dang – The Light City residential area, Ngoc Tuoc Hill 2 villa, Dai Duong (Antares), housing project number 2 west of 3/2 street, Ecotown Phu My.
In 2024, the Company aims to achieve revenue of more than 1,657 billion VND and spend from 800 million VND to 1 billion VND for social activities. At the same time, continue to carry out necessary procedures to set aside large land funds to serve short, medium and long-term plans: The Light City, Phuoc Thang, Long Dien, VT Wonderland, 18.5ha area Ward 12, Vung Tau City…
In addition, in 2024, the Company will focus on investing in key projects; restructuring project portfolio; Considering transferring some projects to balance cash flow; Researching and applying scientific and technical advances in the construction industry; Promoting the work of compensation and site clearance for projects combined with giving compensation agreement measures; Increasing savings in investment, operations, and procurement to increase profits in production and business.
The Congress also announced that HODECO is issuing nearly 20 million shares to existing shareholders by exercising buying rights, corresponding to a ratio of 1,000:148 at a price of 15,000 VND/share. If successful, HODECO will increase the number of shares to more than 155.1 million shares, corresponding to a charter capital of more than 1,551 billion VND.
Source: Ba Ria – Vung Tau Newspaper.
