2020 Annual Shareholders General Meeting of  CMC emphasized International Business for future growth

2020 Annual Shareholders General Meeting of CMC emphasized International Business for future growth

On the morning of 15 July 2020, CMC’s 2020 Annual Shareholders General Meeting was held at CMC Tower, 11 Duy Tan, Hanoi, with the participation of 34 shareholders. The meeting reviewed operation reports in 2019 of Board of Directors (BOD), Board of Management, Board of Supervisors; audited financial statements in 2019 and business plan for 2020; and at the same time held a vote for proposals at the meeting, with an approval rate of over 99%.

During the discussion at the meeting, Chairman of BOD/CEO Nguyen Trung Chinh also answered several questions posed by shareholders. The questions focused on the following: Collaborative support of Samsung SDS for CMC; Infrastructure investment plan; Solutions to attract talents in the field of information technology; Potentials for development of the international business sector; and typical “Made in CMC” products.

According to the Board’s report, in the fiscal year 2019, CMC Corporation earned a consolidated revenue of 5,381 billion VND, with profit before tax of 309 billion VND. Key business areas, such as International Business or Telecommunications Services all saw desirable growth rate, with 49% and 13% in revenue growth, respectively, and 18% and 22% in profit growth, respectively. One year after the restructuring was completed in both regions, the Technology Solutions division maintained a growth rate of -10% in terms of revenue and -9% in terms of profit.

The 2020 Shareholders General Meeting of CMC on the morning of 15th July

The highlight in 2019 was the success of CMC Corporation in negotiating and signing a strategic investment contract as well as completing procedures for a private placement of 25 million CMG shares with Samsung SDS – a member of Samsung, the leading conglomerate in South Korea. After completing procedures for investing and contributing capital to CMC, Samsung SDS has been strengthening and promoting comprehensive cooperation activities with CMC in developing areas of smart factory solutions, cloud computing, smart device distribution, etc. Both parties are also cooperating in investment and promoting the search for business opportunities in the fields of Retails, Security, BMS, etc. in order to boost strong growth, expand to the Asia-Pacific market and develop a global business.

Regarding research and development activities, in 2019, CMC Corporation officially launched an open infrastructure ecosystem for businesses and organizations, called C. OPE2N. This is an open architecture system which integrates all of the technological strengths of CMC, such as Multi-Cloud platform, Data Lake, AI and application platform. It allows the government, agencies, organizations and businesses to work smoothly, and at the same time provides computing services and developing cross-platform applications. CMC Institute of Science and Technology also proved its leading role with the implementation of 25 research items, and is starting to have many completed products and solutions to be deployed in practice, such as CA digital signature system, Data Matching for Insurance and Customs; AI Box (Smart Camera) application for access control; AI application for detecting abnormalities and network attacks, etc.

CMC aims for its revenue to increase by 12% and profit by 16% in the fiscal year 2020

According to the 2020 plan, CMC Corporation sets the target of 6,009 billion VND for consolidated revenue and 359 billion VND for profit before tax, corresponding to the growth rate of 12% and 16%, respectively. In which, the growth rates for revenue and profit of Technology Solutions, International Business and Telecommunications Services are 5%, 71%, 15% and 1%, 305%, 9%, respectively.  Such a plan is based on the prediction that the hardware market in 2020 will grow by 6% compared to 2019, while the market for IT services and software continues to maintain high growth rates of 11% and 13%, respectively.  Telecommunications, Banking – Finance, Insurance, Professional Service businesses and the government will be the sectors with large IT investment in 2020.

The strategic orientation of CMC Corporation to 2023 is to become a global, world-class corporation with a revenue of 1 billion USD and 10,000 employees. The Corporation will focus on strategic markets of Banking and Finance, Business, Government, and expand its international market development. In the field of Technology Solutions, CMC aims to become a leading company in consulting digital transformation solutions for organizations and businesses, as well as in providing security solutions, cloud computing and data services. The Corporation will invest heavily in digital transformation solutions and products for organizations and businesses, in addition to solutions for the banking & finance industry and the business sector. The International Business sector aims to be ranked in the Top 5 of Vietnam, and focuses on the markets of Japan, South Korea, Southeast Asia, Europe, North America. etc. For Telecommunications Services, CMC looks forward to becoming No.1 converged service provider (CSP) and No.1 provider of Cloud services (Private & Public), towards the goal of becoming a Digital Hub of Asia- Pacific region.

CMC Global is proud to be a member of the International Business sector of CMC Corporation, alongside CMC Japan and CMC Ciber. Our mission is to become the leading company in Vietnam and the region to provide high-quality IT services and solutions to the international market.

2020 is expected to hold many challenges as well as opportunities for the IT industry amidst the impact of the Covid-19 pandemic. Therefore, CMC Global, in specific, and CMC Corporation, in general, have set high expectations for this fiscal year, determined to bring CMC technologies further onto the global stage and continue to be the trusted partner of many domestic and international businesses.