Vinamilk shareholders are worried that Ms. Mai Kieu Lien will step down as chairwoman

Vinamilk shareholders are worried that Ms. Mai Kieu Lien will step down as chairwoman 4
Vinamilk shareholders are worried that Ms. Mai Kieu Lien will step down as chairwoman 4

At the shareholders’ meeting of Vietnam Dairy Products Joint Stock Company – Vinamilk (Stock code: VNM) held on the morning of April 27, the issue of Chairman Mai Kieu Lien no longer representing the capital of the State Capital Investment and Trading Corporation was held.

Responding to investors’ concerns, Ms. Lien said that she will no longer represent SCIC’s capital because according to regulations, she is over working age and is only a representative for shareholders.

She also explained that she has concurrently held the above two positions for many years.

Also to further reassure shareholders, Vinamilk invited a lawyer to answer questions about the dismissal mechanism when Ms. Lien no longer holds contributed capital.

Vinamilk targets a revenue increase of 9.5% compared to 2014.

In addition to worries about Chairman Mai Kieu Lien’s resignation, the issue of rising company costs and signs of declining revenue and profits also makes many shareholders concerned.

However, the president of this business said that the company’s 2015 business results will be positive, because in the first quarter, VNM’s output increased by 13% and there will be no increase in product prices.

In 2015, the company plans revenue of 38,424 billion VND, profit after tax of 6,830 billion VND, up 9.5% and 12.6% respectively compared to 2014;

At the meeting, shareholders approved the issuance and listing of 200 million shares to increase share capital from equity sources.

In 2014, Vinamilk achieved revenue of 35,704 billion VND, an increase of 13% compared to 2013 but only reached 98.4% of the plan set for the year.

Ms. Mai Kieu Lien was born in 1953, in Paris (France), graduated as a dairy processing technology engineer in 1976.

From February 1982 to June 1983, she was Deputy Technical Director in charge of production at Thong Nhat Dairy Factory.

Ms. Lien is the first Vietnamese female entrepreneur on the list of the 50 most powerful business women in Asia voted by Forbes.

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