GELEX will not participate in managing Eximbank.

One of the notable contents is that GELEX affirmed that it will not participate in the management of Vietnam Export Import Commercial Joint Stock Bank (Eximbank).

In 2024, GELEX expanded its investment in the banking and finance sector by increasing its ownership to nearly 187 million shares, equivalent to 10% of charter capital at Eximbank, becoming the largest shareholder at this bank.

According to General Director Nguyen Van Tuan, GELEX's investment in Eximbank is a long-term strategy, not to develop the ecosystem but this is an investment that brings efficiency and profit in the future.

" GELEX has a clear view of investment. We are hiring consulting units to transform the bank including strategy and people. Participation in bank operations is definitely not. The Group also has no need to participate in the executive board.

But if the bank's Board of Directors needs us to contribute to protect shareholders' interests, GELEX will participate ," said Mr. Tuan.

GELEX said it will not participate in managing Eximbank.

In the first quarter of 2025, GELEX's revenue increased by 16% compared to the same period in 2024. Pre-tax profit also reached about 600 billion VND, an increase of 58% compared to the first quarter of 2024.

In 2024, GELEX's consolidated net revenue will reach VND 33,752 billion, pre-tax profit will reach VND 3,613 billion, exceeding 4.5% and 88.1% of the plan set by the General Meeting of Shareholders, respectively.

Regarding the 2024 profit distribution plan, after two years of not paying dividends, the group plans to pay 2024 dividends in cash at a rate of 5% (VND 500/share), corresponding to an estimated expenditure of VND 430 billion.

In addition, GELEX also paid additional dividends in shares at a rate of 5%. The number of additional shares issued to pay dividends is nearly 43 million shares, the exercise ratio is 20:1.

In 2025, the Group plans to pay a dividend of 10%. The General Meeting of Shareholders will authorize the Chairman of the Board of Directors to decide on issues related to the 2025 dividend advance if it is deemed appropriate for the Company's operations. The dividend advance may be made in one or more installments.

In the field of electrical equipment and construction materials, GELEX plans to continue expanding the domestic market while developing the export market. In particular, promoting R&D activities to develop new products and cooperate with foreign partners.

For the energy sector, continue to research and selectively invest in potential renewable energy projects in the portfolio under research and development.

For the clean water sector, continue to invest and complete the Song Da clean water project phase 2 on schedule and research investment in clean water supply projects in localities and clean water supply in industrial parks.

In the field of industrial parks and real estate, GELEX plans to develop land funds in many localities through member companies and joint ventures; Develop new forms of industrial parks such as smart industrial parks, industrial cities integrated with ecological urban areas...

Chau Anh

Source: https://vtcnews.vn/gelex-se-khong-tham-gia-dieu-hanh-eximbank-ar934098.html