The annual shareholder's meeting 2012: DIC Investment And Trading Joint Stock Company

At the meeting, many main issues of the year were discussed between the Management Board and participants. Among those, the 2011 business outcomes drew the most attention. In 2011, the stabilities from macro economy which include limited credit for entrepreneurs in the attempt to control inflation, high fuel price and high interest rates were main factors which affected DIC's business activities. At the end of 2011, the total revenue reached VND 1018 billion, equivalent to 89% of expectation, the after – tax profit was > VND 16 billion, equivalent to 53% of expectation.

Besides, as the real estate market 2011 remained gloomy that led to many projects had been canceled or suspended, it had severe impacts on consumption of construction materials. Overall consumption of colored tiles 2011 was approximately 4 million units, sales revenue attained VND 86,130 billion, equivalent to 89% expectation. Along with steel market were stagnated with no positive outcomes.

Clinker market seemed to be the spotlight of the year when revenue itself was VND 771,992 billion, accounted for 74% total income of the company. Clinker indeed saw an increase year on year interms of revenue but still only reached 93% of expectation.

Investment activity was seen as an important land mark in 2011. By upgrading and officially accomplishing plant located at Binh Phuoc, we were able to produce at the amount of 240,000 tons/year, our cement made a presence largely on the South market through more than 50 agencies and 4 distributors.

Key milestone in 2012

The economy is recovering, however it still remains many uncertainties and challenges. DIC-INTRACO therefore set our 2012 targets with cares as below:
  

During the turmoil of macroeconomic in general and domestic enterprises in particular, DIC – INTRACO proudly announced our achievements within 4 months of early 2012 with 2 clinker export contracts valued nearly USD 100 million. The overall revenue 2012 is estimated to reach VND 1,624 billion and the after - tax profit is expected to reach VND 24,268 billion which grows 150% to 170% correspondingly.

About investment activities, due to slow progress and many other factors, DIC is under negotiation to terminate two projects at 112 Tran Hung Dao - Ho Chi Minh City and residence park at Xuan Thoi Son - Hoc Mon, expect that the capital of VND 30 billion will promptly retrieved. In that case, this amount will make a significant contribution to the current asset hold by DIC-INTRACO.

We are planning to issue additional 4,675 million shares, equivalent to VND 46,675 billion this year to carter business expansion, particular to support clinker export activity. Accordingly, 2,475 million shares are for current shareholders, 1,5 million shares are for strategic partners and 0,7 million shares are for current employees.

In 2012, in order to reduce expenses and increase management efficiency, DIC will merge three companies those are DIC Da Lat Investment and Trading Joint Stock Company, the Roof tile plant in District 9 and the Roof tile plant in Binh Chanh District, Ho Chi Minh City into DIC Sai Gon one member Limited Company owed by DIC and based in Ho Chi Minh City.

Despites many difficulties, DIC-INTRACO is trying our best to fulfill ultimate goal: become the leading brand in building materials through diversifying our products, improving our quality and services and marketing to the international.