ASG Corporation: Steadfast in achieving the 2024 business plan

ASG Corporation: Steadfast in achieving the 2024 business plan

The 2024 Annual General Meeting of Shareholders of ASG Corporation took place on June 20, 2024, and approved the business plan and various important contents.

Overcoming challenges, the consolidated revenue in 2023 reached VND 1,982 billion

At the General Meeting, ASG Corporation’s leaders shared the difficulties and challenges faced in 2023. Against the backdrop of global political conflicts and restrictive inflation policies in developed economies, Vietnam’s economic growth also sharply declined after achieving 8% growth in 2022. This adversely affected supply chains, prices, and energy security.

From these difficulties, ASG Corporation’s business operations have been significantly impacted. Low demand for maritime transport, coupled with prolonged oversupply of containers and ships, has led to a sharp decrease in freight rates. Meanwhile, rising fuel prices and inflation have continuously driven up operational costs. Additionally, the slow recovery in aviation has resulted in subdued business outcomes in this sector as well.

2024 Annual General Meeting of Shareholders of ASG Corporation

ASG Corporation’s leadership directed solutions to increase revenue and streamline costs to enhance operational efficiency. By the end of 2023, ASG achieved consolidated revenue of VND 1,982 billion, pre-tax profit of VND 52.5 billion, and total assets of VND 3,050 billion. While business results fell short of expectations, these achievements are commendable, reflecting the concerted efforts of the leadership and staff.

Approval of business plan and various important contents

Attending the meeting were the Board of Directors, Board of Supervisors, Board of Managers, shareholders, and authorized representatives, owning and representing more than 73.4 million shares, equivalent to more than 73.4 million votes. The meeting deliberated and voted on important issues.

Regarding the 2024 business plan, the company targets consolidated revenue of VND 1,989 billion, the same as 2023; Profit before tax reached VND 47.79 billion. This approach aligns with market fluctuations and serves as motivation for subsidiaries to strive for success.

At the meeting, shareholders discussed and voted to approve the following contents including the 2023 production and business activities report; 2023 financial report; activities of the BOD, BOS in 2023, business plan and operational directions in 2024, etc. At the same time, approve the plan to issue ESOP in 2024 at a rate of 1% equivalent to 907,847 stocks for employees.

In addition, shareholders attending the meeting additionally elect Mr. Dang Luu Dung as a member of the BOD for the term 2023 – 2028 (replacing Mr. Nguyen Hoang Son, who resigned due to personal reasons).

Mr. Dang Luu Dung (middle) was additionally elected to the BOD for the 2023 – 2028 term

The economic and social situation in 2024 is predicted to have many improvements but still faces challenges. ASG Corporation will continue to manage production and business operations, flexibly responding to market conditions, maintaining a proactive stance, and readiness to address domestic and international situations to enhance efficiency. ASG will accelerate progress and promptly put ongoing projects into operation to scale up and expand business activities, investing in the Corporation’s growth.

Unit: Million Dong

1 Total revenue 1,989,588 1,981,902 100%
2 Profit before tax 47,797 52,510 91%
3 Profit after tax 23,163 27,025 86%
4 Charter capital 907,847 756,539 120%

2024 production and business plan of ASG Corporation

With high consensus from shareholders, the 2024 Annual General Meeting of Shareholders of ASG Corporation took place successfully.

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