At the 2025 Annual General Meeting of Shareholders held this morning (June 10), the Board of Directors of Viglacera Corporation - JSC (HoSE: VGC) met and elected Mr. Tran Manh Huu as Chairman of the Board of Directors for the 2024-2029 term. At the same time, elected Ms. Nguyen Thi Tham as Head of the Supervisory Board.
Born in 1978, Mr. Tran Manh Huu has a bachelor's degree in finance. He has worked for a long time at the State Capital Investment Corporation (SCIC), as an expert/member of the Board of Supervisors in the period 2008-2010, an expert of the Risk Management Board in the period 2010-2012, and a representative of SCIC at Cam Pha Cement JSC in the period 2012-2014...
Before becoming Chairman of the Board of Directors, Mr. Huu held the role of Head of the Board of Supervisors of Viglacera from April 2021.
Regarding Viglacera's senior personnel, last month, Chairman of the Board of Directors Nguyen Van Tuan submitted a resignation letter from his position as a member of the Board of Directors, citing the reason for his resignation as a way to focus his time on carrying out planned tasks. This decision was carefully considered and is part of the pre-planned transition roadmap.
Gelex has no need to increase ownership ratio at Viglacera
At the meeting, shareholders were particularly interested in the progress of State capital divestment at Viglacera and the possibility of Gelex Group increasing its ownership ratio at the enterprise.
At the congress, Mr. Nguyen Van Tuan informed that the Ministry of Construction is actively supporting the corporation in the divestment process. Recently, Viglacera and Gelex have promoted working with many potential strategic investors, however, the parties are still hesitant due to concerns related to tax issues and stock valuation.
On Gelex’s side, Mr. Tuan affirmed that this enterprise has no need to increase its ownership ratio at Viglacera. He also emphasized that after being approved by the shareholders’ meeting, the company will carry out a comprehensive restructuring to aim for sustainable development in the future.
In response to shareholders' concerns about the impact of US tariff policies, Mr. Tran Ngoc Anh, Deputy General Director of VCG, said that this will certainly affect investor sentiment and they are re-evaluating their plans.
However, he said that the company still has many advantages this year, as some existing businesses in Viglacera's industrial parks (IPs) continue to expand production. Evidence is that the company has signed a number of additional land lease contracts recently, although these contracts are not large in scale.
Besides, the company is also focusing on exploiting customer groups that are less affected by exports to the US.
Series of industrial park and housing projects
Viglacera currently owns more than 600 hectares of industrial land with completed legal procedures and site clearance, ready for lease.
This year, the company will focus on sales and land leasing in industrial parks such as Thuan Thanh, Phong Dien, Tien Hai, Dong Mai and Song Cong II - phase 2.
Along with that, Viglacera is promoting surveys and proposing to prepare documents to request approval of investment policies for a series of new industrial parks in many localities.
These include Phu Ninh Industrial Park of about 400ha and Bac Son Industrial Park of about 200ha in Phu Tho; Dong Mai Industrial Park expanded of about 150ha in Quang Ninh; Tay Pho Yen Industrial Park of about 500ha in Thai Nguyen; Industrial Park No. 1 in Hung Yen of about 230ha; Tien Hai Industrial Park expanded of about 240ha in Thai Binh; Hoa Lac Industrial Park of about 223ha, Huu Lung Industrial Park of about 500ha in Lang Son; Luong Tai Industrial - Urban - Service Park of about 500ha in Bac Ninh ...
Regarding the development of social housing and housing for workers, Viglacera said it will continue to develop synchronous housing areas in existing industrial parks such as Dong Van IV, Phu Ha, Dong Mai, Yen Phong, as well as in the Kim Chung social housing project (CT3, CT5).
In addition, the company will carry out investment preparation work at Tien Hai Industrial Park - Thai Binh with an area of 5.2 hectares and Phu Ha Industrial Park - Phu Tho with an area of 8.4 hectares.
Viglacera is also participating in selecting investors to implement the social housing project in Tien Duong - Dong Anh - Hanoi under the joint venture model.
In 2025, Viglacera targets total revenue of VND 14,437 billion, up 21% over the same period, pre-tax profit of VND 1,743 billion, up 7% compared to the results achieved in 2024. In particular, the cash dividend rate is expected to continue to be maintained at 22%.
In the first quarter of 2025, Viglacera recorded consolidated revenue of VND 2,855 billion, an increase of 8.15% over the same period in 2024. Industrial park land leasing activities recorded strong growth, reaching more than VND 1,221 billion, an increase of 12.6%.
Source: https://vietnamnet.vn/viglacera-he-lo-ke-hoach-thoai-von-va-loat-du-an-moi-2410101.html
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