On the morning of April 26, the 2024 Annual General Meeting of IDICO Corporation – Joint Stock Company (HNX: IDC) took place online at IDICO Office.
Within the framework of the meeting, Mr. Phan Van Chinh - Deputy General Director of IDICO reported that production and investment results in 2023 have recorded significant achievements. IDICO's activities have achieved stable growth and business efficiency. In addition, IDICO has also set out a development plan for 2024, to ensure continued sustainable development and enhanced value for shareholders.
Following the program, the representative of the Board of Directors – Ms. Tran Thuy Giang presented a report on the activities of the Board of Directors in 2023 and the expected operation program for 2024.
Representative of the Audit Committee – Mr. Ton That Anh Tuan presented the Report of the Audit Committee of IDICO Corporation - Joint Stock Company at the Annual General Meeting of Shareholders in 2024.
Some of the submissions approved at the General Meeting such as: Submission for approval of audited 2023 Consolidated Financial Statements and Consolidated Financial Statements, Submission for approval of the 2023 Profit Distribution Plan and 2024 profit distribution plan, ...
During the discussion of the meeting, answering questions of shareholders and sharing about IDICO's development strategy, Ms. Nguyen Thi Nhu Mai – Chairwoman of the Board of Directors said that IDICO's goal for the coming years is to maintain a dividend ratio of 30-40% (from 2024), This policy is based on an annual leasing land area of 120-150ha and operating cash flow will be about VND 3-4 trillion. Therefore, depending on the investment target of each year, the Board of Directors will submit to shareholders a plan to pay dividends in cash or shares to ensure the interests of shareholders, and increase charter capital according to the roadmap to VND 4.5-5 trillion to match the development scale of the Corporation.
Regarding the potential in IDICO's upcoming IPs, Mr. Dang Chinh Trung – General Director – Member of the Board of Directors shared that Tan Phuoc 1 Industrial Park (Tien Giang) expects to receive an investment policy decision soon and is implementing procedures to implement the project this year. And it is expected to be able to attract investment in Q3/2025. In this project, the Corporation has established IDICO Tien Giang to implement the project with charter capital of VND 900 billion, this amount is enough to release compensation and issues related to project launch. In terms of borrowing capital, financial institutions are also interested to lend at competitive interest rates. However, with its financial strength, IDICO is able to balance between borrowing or raising capital when there is a real need.
For Vinh Quang Industrial Park, IDICO is carrying out procedures for approving investment policies and is expected to make a decision on investment policies in 2025-2026 and start implementation.
The 2024 Annual General Meeting of Shareholders took place successfully. With the motto of taking industrial park development as the foundation and consequently the urban-service area, besides the clean energy development orientation, IDICO believes that this is a solid foundation for ESG-oriented sustainable development.
IDICO
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