DIG Chairman Nguyen Thien Tuan: The goal of developing Thanh Hoa and Vung Tau into two high-class medical centers

DIG Chairman Nguyen Thien Tuan: The goal of developing Thanh Hoa and Vung Tau into two high-class medical centers

On the afternoon of April 26, Construction Investment Development Corporation (HOSE: DIG) held the 2024 Annual General Meeting of Shareholders in Vung Tau.

Before, DIG informed shareholders about the gift giving program for attending the general meeting. However, as of 3:00 p.m., the number of shareholders attending the meeting had not yet reached a sufficient proportion to hold it. According to the conference schedule DIG starting at 13:30.

At 4:32 p.m., the organizing committee announced that the meeting had been held at full capacity with attendance including in-person and online forms reaching 50.24% of the total number of voting shares.

The goal is to develop Thanh Hoa and Vung Tau into two high-class medical centers

Chairperson DIG Nguyen Thien Tuan shared DIG Identify two future focus areas including building two cities in Nam Thanh Hoa and Vung Tau because they both have long coastlines.

These two cities are high-end medical centers, mainly serving foreigners, because currently Japanese and Korean people without family living in Vietnam have needs. Thousands of people need jobs and decide to live in Vietnam for 10-20 years.

The Vietnamese government promulgates new policies, interest rates tend to decrease, and the deployment of resorts for Japanese and Koreans. The company is implementing projects including: Working with foreign partners to develop Opened 2 joint hospitals with Japan, cooperated with the Japanese Medical Association in sponsoring and investing in two machinery systems for cancer screening and radiotherapy.

Talking about the prospects of industrial parks (IPs), Mr. Tuan mentioned the trends of ecological industrial parks, information technology and investment in electronic equipment and highly appreciated Japanese and Dubai investors.

Making an industrial park for DIG, all industrial park products must be exported with the three words “smart green”. Green means using electricity that does not come from fossil fuels.

Pre-tax profit plan is over trillion dong

Since the COVID-19 pandemic, DIG Set a very high business plan but the implementation results are very low. In 2024, the Company continues to set revenue and profit targets that are somewhat more modest than previous years’ plans, but compared to the performance results of 2023, they are many times higher.

Specifically, DIG Set a consolidated revenue and other income plan of 2,300 billion, an increase of 72% compared to the previous year; Consolidated pre-tax profit is 1,010 billion VND, 6 times higher than 2023 performance. Dividends are from 8 – 15% and charter capital is 10,000 billion VND.

In 2024, DIG Focus on completing investment preparation procedures for the Long Tan – Dong Nai tourist urban area project; Approved to adjust investment policy in Chi Linh central area; Complete the adjustment of progress of North Vung Tau new urban area and Dai Phuoc eco-tourism urban area; Adjust investment policy for Hiep Phuoc residential area; Completed adjustment of detailed planning at 1/500 scale of the South Vinh Yen new urban area project; Completed legal procedures for Lam Ha Center Point housing area… Total investment plan for 2024 is more than 7.2 trillion VND, including project investment of 6.4 trillion VND and financial investment of 811 billion VND.

General Director Nguyen Quang Tin said that Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV, HOSE: BID) has committed to support DIG in the development of all projects for the period 2024-2028.

North Vung Tau new urban area and Long Tan tourist urban area encounter problems in compensation and site clearance. Mr. Tin informed that the Long Tan project has been prepared with capital for implementation, including capital from issuing bonds and stocks in the near future. In addition, there are also banks in the big4 group that have committed to supporting this project.

Issued 410 million shares

At the congress, DIG Presented a plan to issue 410 million shares to increase capital to more than 10.2 trillion VND, including offering 200 million shares to existing shareholders, 150 million individual shares, 30 million ESOP shares, more than 15.2 million shares to pay annual dividends. 2023, more than 15.2 million shares to increase share capital from owner’s equity.

Of which, 200 million shares will be offered to existing shareholders at a price of 15,000 VND (32.794% of outstanding shares) in 2024. Shares will be restricted from transfer within 1 year. The expected maximum revenue of 3,000 billion VND will be used to pay off bond debt of 900 billion VND, supplement capital for the Cap Saint Jacques project of 1,135 billion VND, and pour capital into Vi Thanh residential area of ​​965 billion VND.

150 million individual shares are expected to be issued at a price not lower than 20,000 VND/share and are also restricted from transfer for 1 year. Expected revenue is 3,000 billion VND; including 1,000 billion VND to supplement capital for Lam Ha Center Point housing area, Ha Nam province, 2,000 billion VND for the new urban area Nam Vinh Yen, Vinh Phuc province. Expected release time is 2024-2025.

30 million ESOP shares will also be issued at 15,000 VND/share in 2024 and are restricted from transfer for 1 year. Expected proceeds of 450 billion VND will be used to supplement working capital DIG.

There are nearly 15.2 million dividend-paying shares and 15.2 bonus shares that will also be implemented in 2024. Issuance capital is taken from undistributed after-tax profits, equity surplus and development investment fund as of day 31. /December 2023.

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Thu Minh

FILI