Phatdat organizes the 2019 Annual General Shareholders’ Meeting

HCMC, on 30 March 2019, the 2019 Annual General Shareholders’ Meeting was successfully held at Nikko Hotel, located at 235 Nguyen Van Cu, District 1 by PDR (HOSE: PDR). All important keynotes of 2018 business and 2019 business plan were approved by PDR shareholders at the meeting.

In 2018 Phat Dat recorded great success throughout its operations, whether that is  project development, finance or human resources. The Company recorded a continuously growing year, characterized by total revenue and profit after tax of VND 2,148 billion and VND 644 billion, respectively. Further, new larger scale projects were launched in various regions, important partnerships were tied with domestic as well as foreign partners, and especially no bank loans were made are important milestones of the year. Thanks to these best efforts and achievements in 2018, PDR is highly valued in the business community and awarded with a myriad of prestigious prizes, particularly 313th ranking in TOP 500 Vietnam’s Largest Private Enterprises – VNR500, and 62nd ranking in TOP 500 Vietnam’s Most Profitable Private Enterprises – PROFIT500 and 54th ranking in TOP 500 Vietnam Best Growth Companies – FAST500.

At the Meeting, PDR’s 2019 targets were set, including revenue and profit before tax of VND 9,000 billion and 1,000 billion, respectively, to majorly improve its position in the domestic private enterprise group and obtain improved profit. In order to fulfill such ambitious objectives, a series of measures are expected to be implemented, further focus is initiated on project development, improve financial capability, human resources and enhance brand communication. Accordingly, the plan on developing land bank, residential area and township projects and new products in non-HCMC markets are the new highlights of Phatdat’s 2019 business strategy.

2019 is also affirmed by the General Shareholders’ Meeting to be the starting point for a prosperity future of PDR marked by outstanding revenue and profit growth. In order to build a strong foundation for such future, changes in organizational structure regarding corporate governance were made at the General Shareholders’ Meeting, by increasing the number of independent members of Board of Directors and establishing the Internal Auditor Committee, issuing 20 millions of shares, offered to strategic partners and continues to issue ESOP for employees.

Marking the 15th anniversary, at the General Shareholders’ Meeting, the PDR Board of Directors, the Board of Management, managers and members at all levels committed to give best effort to facilitate the Company to successfully step to the new prosperous era, affirming its strong position among the leading domestic real estate companies.