The Construction Joint Stock Co No 1 (coded VC1) held the annual shareholders meeting on March 27, 2012. In the meeting, the company has already approved for 2012 business plan with targeted revenue of 630 billion dong, pre-tax profit of 55 billion dong and after tax profit of 41.2 billion dong.
The company planned to pay 2012 dividend at 20 percent ratio. After setting up the necessary standby funds, VC1 expected to save 2012 unallocated profit of 57.4 billion dong.
As for current projects, at present, the company has concentrated on implementing the Vinaconex 1 high-class apartment and office building project. The company has finished raw construction works for the project already. VC1 expected to bring in revenue of 1.4 trillion dong from this project.
Although the company was assigned as the main investor for two projects of Cao Xanh and Ha Khanh in Quang Ninh province six months ago, VC1 hasn’t started construction works on these projects due to difficulty in real estate market up to now. The company decided to carry out the project in 2012, depending on the local real estate market conditions.