The 2018 Annual General Meeting of Shareholders of SJF was successfully held on April 24
On April 24, 2018, Sunstar Investment JSC held Annual General Meeting of Shareholders of 2018. The Board of Directors (BOD), representative of subsidiaries and associated company, together with fifty shareholders and authorized persons representing more than 350 shareholders attended the meeting.
The Group’s 2017 Business Results and The future Plan
According to Mr. Nguyen Tri Thien – Chairman and Mr. Nguyen Tan Dat – General Director presented at the meeting. In 2017, despite many unexpected difficulties, the company has tried to overcome and completed most of the business plan. The mother company’s financial ratios are maintained at a safe level and ensure the dividend payout ratio is much higher than the dividend payment plan set by the AGM 2017.
The BOD have set the business plan for 2018 and ahead is to continue to develop resources for the development plan in the coming time. Based on the results achieved in 2017, the BOD sets the major development goals and strategies in the coming time as following:
- In the field of Agriculture: Establishing the value chain of Japanese tech agricultural products from cultivation, husbandry to preservation, processing (cold drying technology) and distribution to increase the value of products aimed at both export and domestic market. SJF will M&A several companies involved in the company’s agricultural chain to rapidly achieve this value chain in 2018;
- In the field of industrial Bamboo: Currently, SJF’s customers have big demand for industrial bamboo products and we have not yet fufiled this demand. Therefore, the company will focus on:
- Focus on completing and automation of the production line, raising the productivity, aiming to achieve a highly efficiency production (expected in 2018);
- Start to invest in plantation of bamboo in Mai Chau, in order to fully and stably supply raw materials for the bamboo factory.
- Connecting Global Value to Trade, Technology and Investment:
- Building a Global Value Chain for Trade: The company achieves this goal by becoming a part of the global trading value chain in Vietnam. Currently, the company is preparing to sign a contract with a major US partner in the B2B global business, in which SJF will be the Ambassador in Vietnam. At the same time, the company will promote the import and export of agricultural commodities through M&A of several big global trading companies that are working effectively to increase value and value chain.
- Global connectivity for Technology: SJF is expected to become the center of “change the world” technology in Vietnam. The company has been working with a large and prestigious partner specializing in New Breakthrough Technology of the United States, helping to transfer these technologies into Vietnam and Southeast Asia.
- Connecting Investment: Through the connection of the value chain of Trade and Technology, the company also helps to connect foreign capital inflows to domestic enterprises that need to use or invest in new technologies. In that, SJF is both an advisory and an investor if it is a sustainable green technology.
The Company’s 2018 Business Plan
In The company‘s 2018 Business Plan, The BOD has focused on the development of programs, providing key solutions that focusing on: organization, financial management, production management, marketing, human resources, technology investment. The business goals in 2018 are:
|1||Gross revenue||Billions dong||1.000|
|2||Profit after tax||Billions dong||50|
|3||Dividend||% /Charter Capital||5%|
This plan does not take into account of the posible M&A of several large companies in the value chain. If successful, revenue as well as profit and dividend payment plan will change significantly.
2017 Dividend payment Plan
According to the plan set by AGM in 2016, the dividend payout ratio in 2017 is 10%. However, after careful consideration the BOD and BOM decided to raise the ratio to 20% and in stock. The purpose is to bring greater and long term benefits to the shareholders who are attached to SJF for a long time; it also helps the Company increase the size of its equity to increase its ability to participate in project in the strategic objectives set by the Company.
Speaking at the meeting, shareholders and representatives of member companies congratulate the company’s production and business results in 2017. Despite many difficulties, the shareholders expressed confidence that SJF will fulfill the objectives set by the BOD and the corporation will follow the strategy of stable and sustainable development in the next years.
The Meeting ends at 11:30 AM on the same day.