2019 General Meeting of Shareholders: Long Giang Land to set a target of VND 1,400 billion in revenue

VND 1,400 billion is the target revenue of Long Giang Land in 2019 which was approved at the Annual General Meeting of Shareholders on April 27, 2019. This is the highest target revenue of Long Giang Land ever.

On April 27, 2019, at the Building at 173 Xuan Thuy, Cau Giay, Hanoi, Long Giang Investment and Urban Development Joint Stock Company. (Long Giang Land, stock code: LGL) successfully organized the Annual General Meeting of shareholder in 2019. The meeting saw the attendance of more than 100 shareholders, representing 38,727.806 shares equivalent to 77.46% of the total number of voting shares.

The meeting approved the Income Statement in 2018 and the business plan for 2019 of the Board of Directors.

Accordingly, in 2018, Long Giang Land had achieved best business results since its establishment, with the revenue of parent company reaching VND 1,294 billion (exceeding 8% compared to plan) and the profit after tax reached VND 118 billion. This impressive result is thanks to company’s apartment products have good quality, are highly appreciated by customers and the market, the company has chosen and cooperated with capable sales consultant, the business operation is carried out effectively.

Also in 2018, Rivera Park Hanoi project of Long Giang Land was recognized by the Ministry of Construction as a “high quality project” and was ranked in Top 2 among Investment Attraction Projects of the prestigious vote namely, “leading trend project in 2018.” The company has also concentrated on accumulating resources to prepare for the next development stage with the completion of the increase in charter capital from VND 346 billion to VND 500 billion and equity is over VND 770 billion.

The shareholders voted at the meeting

Addressing at the meeting, Mr. Le Ha Giang – Chairman of Long Giang Land emphasized: “By completing and handing over to put into use Rivera Park Hanoi project in 2018, Long Giang Land has officially affirmed its position in the real estate market as a professional estate developer. Long Giang Land has also became member of a small group of real estate companies owning a series of projects nationwide with 2 completed projects in Hanoi and Ho Chi Minh City. ”

Regarding the 2019 business plan, Long Giang Land set the parent company’s revenue target to VND 1,400 billion, profit after tax to VND 125 billion, company’s charter capital to VND 640 billion. Long Giang Land will accelerate the completion of investment legal procedures to commence two new projects (Rivera Park Long Bien and Rivera Park Can Tho) in 2019 in Hanoi and Can Tho; continue to maintain M&A strategy in real estate in order to increase land fund and new investment projects.

Moreover, Long Giang Land will also pay close attention to strengthen relationships with investors, of which the first step is its selection of SHS as consulting unit about relationship with with investors and the publication of the 2018 Annual Report with abundant, objective and transparent information.

As the chairperson of the Meeting, Mr. Le Ha Giang – Chairman of Long Giang Land directly recognized and answered the questions of attending shareholders.

Mr. Le Ha Giang – Chairman of the Board (middle) answered questions of attending shareholders

The success of the Annual General Meeting of Shareholders will lay the foundation for the next activities and the transformation of Long Giang Land in 2019. It I is expected that 2019 will continue to be the year Long Giang Land will complete and reach beyond its set targets and plans.

Mr. Dang Anh Tam (in the middle) with the Board members launched the MeetingLong Giang Land is a reputable brand of real estate developer, which has been trusted and appreciated by customers by its really quality products meeting the market’s demand. Long Giang Land’s reputation is increasingly affirmed and confirmed through the success of series of Rivera Park Hanoi and Rivera Park Saigon project.