The success of API 2017 Annual General Meeting

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On June 15th, Asia Pacific Investment JSC (APEC Investment – API) held successfully the 2017 Annual General Meeting. There were many resolutions approved that marked significant change on API’s growth.

  • The 2016 revenue result and business plan for 2017 recorded with impressive figures.

In 2016, Apec Investment revenue reached to over 49,72 billion VND. This result was an extraordinary increase, compared to the previous year performance that was only 2 billion VND. Despite the company’s efforts to reduce the corporate management cost, the earning after tax of 2016 was -3,68 billion VND while this figure of the year 2015 was recorded more than 9,86 billion VND. The reason was 4 billion loss from joint venture companies and the low financial revenue. The year 2015 saw huge financial revenue of 66 billion VND whereas it was just about 5,2 billion VND in 2016.
API has launched many attractive projects since 2016. Apec Royal Bac Ninh, one of those projects began from October 2016 and completed roughly 90%, sold and got deposit up to 86% of the total department. APEC Da Hoi Industrial Zone, a featured project of API is 34,5 ha in large with many houses and industrial workshops construction. API has completed the 1st phrase of taking land use rights certificates progress. The 11,6 ha Royal Park Hue projects are also under the 1sr stage of construction.
These promising projects are expected to bring a prominent business result to the following year. The revenue is estimated to reach over 455.16 billion VND and the earning after tax is about 11,8,14 billion VND in 2017.

  •  Approving bonds and shares private placement plan.

Bond private placement is the main capital resources for API to support and execute the investment projects as well as the business operations. The nominal value of each bond is 1 billion VND that will be offered by dealers. API plans to issue 500 bonds in two stages with the total value of 500 billion VND.
In 2017 AGM of API, the private placement of shares was also approved with the nominal value of 10.000 VND per share that will be issued under the laws.

  •  Approving awarding plan for Executive Board in 2017

The AGM approved the Awarding plan for Executive Board in 2017. If the earning after tax in 2017 is in the plan, the Board will be awarded from 7% to 10% on this profit. In case the profit is over expected, they will be received from 15% to 20% on the extra of profit.

  •  Approving an employee stock ownership plan (ESOP)

In order to connect closely employees’ benefits and responsibilities to the company, the AGM of API decided to approve the ESOP. This tool is quite popular, effective and being used in many big Vietnamese companies such as Masan, Mobile world group, Vinamilk, etc. The nominal value of the share will be issued at 10.000 VND with the total value of 17 billion VND. API is considering carefully the list of employees who allowed to access the plan. This is the strategy of API to raise the enthusiasm and close-knit purposes.
Moreover, the AGM also held the election for 01 independent BOM member who has years experience in the construction field for explicit strategy and effective consultation.
With many important decisions approved by 2017 AGM, API hopes this is the keystone in the long-term development of the company.

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