Results of the Annual General Meeting 2011

06/04/2015

07.08.2011

In the afternoon 7/7/2011, at CMC Tower the Annual General Meeting 2011 of CMC Corporation was held. The meeting was held successfully with the high consent of the majority of the shareholders.

83 shareholders and their authorized representatives representing for 54,849,572 shares accounting to 86.46% of total shares with voting power participated in the meeting.

At the general meeting, representative of the Board of Shareholders and Board of Directors summarized the results and reports to the shareholders the results of the management of the company in the recent 5th quarter (from 01/01/2010 to 31/3/2011). Accordingly, the net business result of the 5th quarter reached 4,497 billion VND (completing 90% of the plan). The pre-tax profit reached 59 billion VND, reaching g30% of the annual plan. This was the unexpected result of the company and the main cause was resulted from the impacts of the global economic recession and disadvantages in terms of interest rate, domestic exchange rate….

However, the past year is the years with many turning-point events for CMC representing for the policies of the Board of shareholders and the board of directors in defining the direction focusing on the investment for core competitive values and reducing the investments in ineffective fields. These include: the decision on investment for developing broad-band internet infrastructure; decision to acquire more than 43% of Netnam company to increase the network and Internet services; decision on withdrawing the capital at Bao Viet Bank to focus to invest into core ICT services; decision on investing to develop Bluefone…

The year 2011 is defined by the Board of Shareholders and the Board of Directors as the year of continuous difficulties because of the restricted consumption and currency policies from the government and the enterprises. Thus, in 2011, the company will focus on the fields with core strong points of CMC such as software production, system integration, telecommunication service…The board of shareholders confirmed that CMC will continuous to speed up finishing the organization mechanism, increasing the administration capacity and try to gain the objectives set at the general meeting.