Invitation letter to Extraordinary Shareholders Meeting on 14th Jan 2012

 

HCMC, Dec 29th, 2011
OPEN LETTER

Dear Shareholders,

First of all, on behalf of Hoa Binh Construction & Real Estate Corporation Board of Directors, I would like to express my deep gratitude to our shareholders for a warm cooperation and accompanying us in recent years.
In the context of economic difficulties and fluctuation, Hoa Binh stable development has been firmly based on our shareholders’ great contribution and support. Ending the 2011 fiscal year, Hoa Binh reached relatively satisfactory results, with projected revenues of over 3,000 billion dong, exceeding 20% compared to the plan, but projected profits only attained 130 billion dong (planning’s 150 billion dong) due to a critical increase of financing costs. Also in 2011, Hoa Binh has expanded its operation abroad and was awarded several large scale construction projects with international level. Hoa Binh has incessantly and positively applied modern construction technologies, continuously upgraded its management system as well as its corporate culture.

In current complicated situation of economic fluctuation, there are many problems belonging to the shareholders’ authorization with an urgent character, therefore the BOD might not wait for the regular 2012 Annual Shareholders Meeting and has made the decision to call for Extraordinary Shareholders Meeting on 14th Jan 2012. The agenda will include: Report to our shareholders situation of business activities in the past year, a draft presentation and thought contribution on operation orientation, planning criteria for 2012 and the 2012-2015 period, request of passing the purchase of more treasury stocks and explanation and argumentation of shareholders’ concern on Hoa Binh’s stable development in a market instability situation. And in the same time, request of passing the replacement of a BOD’s member and of re-voting a member of Board of Supervisory of 2009-2014 term.

Dear shareholders,

It’s a real fact that Hoa Binh has firmly and steadily developed in the past, greatly based on the sharing concern, encouragement, and support of our shareholders. We sincerely wish you arrange your precious time to fully attend the extraordinary shareholders meeting, and on time, to contribute to the meeting’s success.

Please accept my sincere thanks.

Best Regards,

Chairman cum CEO Le Viet Hai


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