Home / Knowledge / News / Textiles / Vinatex holds first shareholders' meeting
Vinatex holds first shareholders' meeting
13
Jan '15
The Vietnam National Textile and Garment Group (Vinatex) held its first shareholders’ meeting last week in Hanoi city.
 
This was the first meeting after the company successfully issued its initial public offering (IPO) in September last year, when more than 90 per cent of shares were bought by investors, with nearly half of them being purchased by foreign investors.
 
The meeting appointed a seven-member Board of Directors, who elected Tran Quang Nghi as the chairman and appointed Le Tien Truong as CEO of the Group.
 
The meeting also elected a five-member Supervisory Board, which subsequently elected Ms Nguyen Thi Minh Hien as its head.
 
At the meeting, Bui Xuan Khu, former deputy minister of industry and trade urged shareholders to positively contribute for the growth of the company; helping it break-out from the old method of working as a state corporation, and develop at a greater speed.
 
Deputy minister of industry and commerce Ho Thi Kim Thoa said the success of Vinatex’s IPO and gaining consensus in the first shareholders’ meeting demonstrate that investors are interested in future long-term profit and development of the company, and are not looking at earning immediate profit.
 
She said that her ministry will continue to support Vinatex in its strive towards exceeding revenue targets and earning higher profit margins.
 
Vinatex has made a paradigm shift at a time when the Vietnamese textile industry is presented with opportunities to grow in leaps and bounds. While Vietnam has recently entered into free trade agreements with Korea and the Customs Union of Russia, Belarus and Kazakhstan, negotiations for the 12-member trans-pacific partnership (TPP) are in active phase.
 
In 2014, Vinatex continued strong growth and its sales reached 51 trillion dong, showing an increase of 13 per cent compared to 2013. For the current year, Vinatex has set a target to achieve revenue growth of at least 12 per cent. The company already has enough orders to last for the first half of this year. (RKS)
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

(left to right) Rohit Munjal, Ashok  Shah, Rahul Mehta, Premal Udani, Rajesh Masand and Jayesh  Shah

Textiles | On 28th Jun 2017

CMAI to host 822 exhibitors at 65th National Garment Fair

The Clothing Manufacturers Association of India (CMAI) will host over ...

Interviews View All

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search