On the morning of 04/11/2017, at the head office (Ben Luc District, Long An Province), Dong Tam Group successfully held its 2017 Annual General Meeting of Shareholders (AGM) attended by 92.3% of voting shareholders.
Implementing the Resolution of 2016 AGM, the Board of Directors, Board of Management of Dong Tam Group focused resources on improving the mechanism of organization and operation, establishing committees on personnel, investment, procurement, selling prices and sale policies to promptly orient business activities, reforming administrative procedures, building a more streamlined and effective organ; Investing in expansion of sales and distribution network; Investing in new and advanced equipment, production lines, technology innovations in an effort to boost productivity, diversify products and enhance quality of product as well as customer services.
Business results of Dong Tam Group in 2016: Net revenues reached VND 1,804 billion, accounting for 88.0% of the annual plan; After-tax profit was VND 233 billion, surpassing the plan by 11.0%. Total assets as at 31/12/2016 rose to VND 3,987 billion, up by 21% over 2015, a surge of VND 691 billion in value.
This is the fourth straight year in which Dong Tam Group surpassed its profit target. In specific, the after-tax profit in 2013 was VND 125.7 billion, exceeding the plan by 25.7%; In 2014, the after-tax profit reached VND 176.6 billion, accounting for 130.84% of the plan, up by 40.5% over 2013; In 2015, the after-tax profit rose to VND 279 billion, equal to 126.93% of the plan, representing a strong growth of 58.09% over 2014.
Established and developed over the last 48 years, Dong Tam brand has won the title of "Vietnamese High Quality Goods" voted by consumers for 21 consecutive years. In 2016, the Company developed and expanded a network of 30 branches, showrooms, 27 warehouses, over 3000 partner shops and distributors throughout provinces and cities nationwide.
With efficient efforts in 2016 and the long-term investment strategy of the Company in the past years, joint-venture, co-operation and investment projects, expansion of production and development of new building materials will be kept implemented in 2017. Reports and statements submitted by Dong Tam Group’s Board of Directors were adopted by the AGM at very high affirmative voting rate such as: the Statement of the Auditor’s Report on 2016 Consolidated financial statements was approved by 99.992% of shareholders; the Statement on 2016 profit and dividend distribution: by 99.99%; the Statements on proposed remuneration for BOD, BOS in 2016 and in 2017: by 99.991%; the Statement on authorizing BOD to select the auditor for 2017 fiscal year: by 99.992%; the Statement on authorizing BOD to decide on increasing or reducing the business lines: by 99.999%; and especially the 2017 business plan with some key targets including net revenue: VND 1,850 billion, after-tax profit: VND 202 billion, targeted dividend rate: 15%.