Earlier, DIG announced a gift program for attending shareholders to participate in the general meeting. However, as of 3:15 PM, the number of shareholders attending the meeting had not yet reached the required proportion to hold the meeting. According to schedule, the DIG meeting will start at 1:30 PM.
At 4:32 PM, the organizing committee announced that the meeting had reached the required proportion for holding the meeting with the attendance of both in-person and online participants reaching 50.24% of the total voting shares.
 The 2024 Annual General Meeting of Shareholders of DIG took place on the afternoon of April 26 in Vung Tau. Photo: Thu Minh
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The goal of developing Thanh Hoa and Vung Tau into two high-end medical centers
Chairman of DIG Nguyen Thien Tuan shared that DIG has identified two key areas in the future, including building two cities in South Thanh Hoa and Vung Tau, both of which have long coastlines.
These two cities will be high-end medical centers, primarily serving foreigners, as there is currently a demand from Japanese and Korean people who do not have families and live in Vietnam. Thousands of people need jobs and are determined to live in Vietnam for 10-20 years.
The Vietnamese government has issued new policies, with interest rates tending to decrease, and the implementation of resorts for Japanese and Korean people. The company is implementing a project that includes: working with foreign partners to implement two joint venture hospitals with Japan, cooperating with the Japanese Medical Association in terms of funding and aiming to invest in two systems of cancer screening and radiotherapy equipment.
Speaking about the prospects of industrial parks (IPs), Mr. Tuan mentioned the trend of ecological industrial parks, information technology, and investment in electronic devices and highly appreciated Japanese and Dubai investors.
For DIG, all IP products must be exported from the three words “smart green”. Green means using electricity that does not come from fossil fuels.
Pre-tax profit plan of over a thousand billion VND
Since the COVID-19 pandemic, DIG has set very high business plans but the results achieved are very low. In 2024, the company continues to set revenue and profit targets that are somewhat more modest than the plans for previous years, but compared to the results achieved in 2023, it is many times higher.
Specifically, DIG sets revenue and other consolidated income at 2,300 billion VND, an increase of 72% compared to the previous year; consolidated profit before tax of 1,010 billion VND, 6 times that of 2023. Dividends from 8 – 15% and charter capital of 10,000 billion VND.
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Results of DIG‘s revenue plan completion in recent years
Author’s compilation
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Results of DIG‘s profit before tax plan completion in recent years
Author’s compilation
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In 2024, DIG will focus on completing the preparation procedures for investing in the Long Tan – Dong Nai urban tourism project; being approved to adjust the investment policy of the Chi Linh central area; completing the progress adjustment of the Bac Vung Tau new urban area and the Dai Phuoc eco-tourism urban area; adjusting the investment policy of the Hieu Phuoc residential area; completing the detailed planning adjustment at a scale of 1/500 for the Nam Vinh Yen new urban area project; completing the legal procedures for the Lam Ha Center Point residential area… The total investment plan in 2024 is more than 7.2 thousand billion VND, including project investment of 6.4 thousand billion VND and financial investment of 811 billion VND.
General Director Nguyen Quang Tin said that the Bank for Investment and Development of Vietnam (BIDV, HOSE: BID) has committed to supporting DIG in developing all projects for the period 2024-2028.
The Bac Vung Tau new urban area and the Long Tan tourist urban area encountered difficulties in site clearance and compensation. Mr. Tin informed that the Long Tan project has been prepared with capital for the implementation process, including capital from bond issuance and stock issuance in the near future. In addition, a bank in the big4 group has also committed to supporting this project.
Issuing 410 million shares
At the general meeting, DIG presented a plan to issue 410 million shares to increase capital to more than 10.2 thousand billion VND, including offering 200 million shares to existing shareholders, 150 million shares privately, 30 million ESOP shares, more than 15.2 million shares to pay dividends in 2023, more than 15.2 million shares to increase charter capital from equity capital.
Of which, 200 million shares are offered to existing shareholders at a price of 15,000 VND (equivalent to 32.794% of outstanding shares) in 2024, the shares will be subject to a one-year transfer restriction. The proceeds are expected to be a maximum of 3,000 billion VND, used to pay off bond debts of 900 billion VND, supplement capital for the Cap Saint Jacques project of 1,135 billion VND, and invest in the Vi Thanh residential area of 965 billion VND.
The 150 million private shares are expected to be issued at a price not lower than 20,000 VND/share and are also subject to a one-year transfer restriction. The proceeds are expected to be 3,000 billion VND; of which 1,000 billion VND will be used to supplement capital for the Lam Ha Center Point residential area in Ha Nam province, and 2,000 billion VND for the Nam Vinh Yen new urban area in Vinh Phuc province. The time for issuing is expected to be 2024-2025.
30 million ESOP shares are also issued at a price of 15,000 VND/share in 2024 and subject to a one-year transfer restriction. The proceeds are expected to be 450 billion VND, used to supplement DIG‘s working capital.
Nearly 15.2 million shares for dividend payment and 15.2 bonus shares will also be made in 2024. The capital source for issuance is taken from undistributed post-tax profit, capital surplus, and development investment fund as of December 31, 2023.
To be continued…
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