SSI Securities Corporation (HOSE: SSI) conducts the Annual General Meeting of Shareholders in 2019

(Ho Chi Minh City - April 25, 2019) At Thong Nhat Meeting Hall - 135 Nam Ky Khoi Nghia, District 1, Ho Chi Minh City, SSI Securities Corporation (HOSE:

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SSI Securities Corporation (HOSE: SSI) conducts the Annual General Meeting of Shareholders in 2019

25/04/2019

(Ho Chi Minh City - April 25, 2019) At Thong Nhat Meeting Hall - 135 Nam Ky Khoi Nghia, District 1, Ho Chi Minh City, SSI Securities Corporation (HOSE: SSI) organized the Annual General Meeting of Shareholders 2019. The Meeting set out development plans in line with market opportunities and challenges, based on the motto of sustainable, efficient and transparent operation.

At the program, the General Meeting of Shareholders listened to the (1) Report on business results in 2018 and business plan in 2019; (2) Report of the Board of Directors (BOD) and Report of the Supervisory Board (BOS) on activities in 2018; (3) Audited financial statements of 2018; (4) Decision on profit distribution in 2018; (5) Decide remuneration for the Board of Directors and the Supervisory Board in 2019; (6) Select an audit company for the 2019 financial year; (7) Approve the Chairman of the Board of Directors cum General Director in 2019; (8) Approve the plan for issuing shares under the Employee Choice Program (ESOP) in 2019; (9) Elect additional 2 members of the Board of Directors.

In 2018, Vietnam's stock market witnessed the most volatile situation after many years since the global financial crisis in 2008. VN-Index surpassed its historical peak, setting a new record at 1,211 points in April of 2018, then sharply decreased. Ending the last session of the year, VN-Index fell by 26.3% from its peak and 9.32% from the end of 2017. State-owned enterprises' IPO and divestment also slowed down in the second half of the year.

Facing such difficulties, SSI's business activities also faced many challenges. But with the persistence in vision and flexibility in strategy, SSI continues to exceed the set plan, achieved growth targets in all aspects of customer size, products, services, network branches, human resources, ... The Company's total consolidated operating revenue and other income in 2018 reached VND 3,997 billion, up 30.9% compared to 2017. Accounting profit before tax reached more than VND 1,623 billion - an increase of 15.5% and also exceeded the business plan. Profit after tax reached VND 1,303 billion - an increase of 12%. Total assets also greatly increased , at VND 23,825.6 billion, equity reached approximately VND 9,156 billion. Healthy financial structure with high bank loans but reciprocal is an equivalent large deposit balance. Operating costs are strictly controlled, maximizing profits.

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In 2018, the SSI Sercurities Service Division was officially divided into 2 divisions: Institutional Brokerage and Retail Brokerage to specialize, improve service quality. Generally on the 2 stock exchange departments, the SSI market share continues to lead the whole market, reaching 17.44%, particularly the brokerage market share of Foreign Customers reached 25.25% - an increase of more than 20%. Customer size grew to over 153,000 accounts - up 20% over the previous year. The Division's 2018 revenue was more than VND 1,893.6 billion - an increase of 42.6% and a profit of VND 761.4 billion, an increase of 16.2%.

The Treasury Division play a major role in effectively managing the Company's capital, assisting Clients in safely managing business capital, and actively expanding cooperation with commercial banks, pioneered in deploying new products and services, cooperating with Securities Services to expand margin lending activities. In 2018, Treasuty recorded revenue of VND 759.1 billion, exceeding the business plan.

Although in 2018, the market has a strong adjustment in the second half of the year, but this is also a memorable year for the VN-Index when surpassing the peak of 1,200. In this context, the SSI Investment Banking Division continued to affirm its leading position with many transactions reaching record values. Typically, the deal of secondary sale of 267.8 million shares of Vinhomes Joint Stock Company to foreign investors with a total transaction value of USD 1.35 billion - the largest deal to offer foreign investors the history of Southeast Asian securities. Investment Banking services also exceeded the plan by VND 125 billion.

SSI Asset Management Co. Ltd. (SSIAM) is in charge of fund management activities, actively seeking investors, continuing to diversify product distribution channels, developing a number of funds calling for capital from foreign institutional investors as well as deploying products to provide for individual investors with great investment needs. By the end of 2018, SSIAM had total assets under management of VND 5,573 billion, fund management revenue and portfolio of VND 65.5 billion.

2018 is also the year that SSI established the independent Investment Division, taking over the trust portfolio at SSIAM. The Investment Division has quickly achieved an effective divestment, minimizing risks on the flexible portfolio. The total value of the portfolio in 2018 reached VND 3,514 billion. 

Entering 2019, the economy in general as well as the stock market in particular is expected to continue to face challenges. While the economy faces a series of problems and obstacles from the global economic recession, rising protectionism and tight monetary policy, the stock market is expected to fluctuate in a wide range with positive and negative information intertwined. In fact, the first quarter of 2019 ended in a quiet market background, both domestic and foreign investors became cautious. However, the stock market still has its attractive factors, especially for foreign investors. For example, the stock market is already low and the profit forecast of listed enterprises may increase by 13.3% over the same period, which is the basis to support the stock market's growth. Equitization and divestment process in the next 2 years will support capital for economic development, and at the same time help the stock market increase the supply of stocks with large market capitalization and quality. The restructuring of the stock market at macro level is also a factor to help the market have better liquidity and attract investors. M&A activities are expected to continue to be active in 2019, focusing on the retail, food production and fast moving consumer goods sectors, pharmaceuticals, etc. The market also receives more and more participation of foreign securities companies with potentials in capital, human resources, technology, etc. In addition, there is competition in the application of technology, artificial intelligence and development of trading systems - factors that will significantly contribute to the business results of each securities company.

With the goal of maintaining its position as the leading financial institution in Vietnam and making efforts to reach out to the international market, on the basis of proactively evaluating the development capacity and objective conditions of the market, the Board of Directors and the Board of management of the Company have built and submitted to the General Meeting of Shareholders for consideration and unanimously approved the development, investment - business plans for 2019, with the target of total revenue of USD 3775 billion, total cost of 2074.3 billion; From there, the company expects to bring VND 1700.7 billion of consolidated profit before tax. This is considered as a corresponding business plan to the optimistic expectations of the market. Besides, always proactively taking timely measures to respond to unpredictable developments of the market, the General Meeting of Shareholders also authorized the Board of Directors to actively follow the actual situation. In case of market fluctuations, the Board of Directors of the company will also make adjustments appropriate to the reality.

To achieve this goal, the solution groups for each business segment have been specifically established based on the long-term strategic vision and focusing on the factors that create sustainable development for the Company: Quality of products and services, Human resource development and System development. Customers are always the focus in all activities. Specifically:

Retail Brokerage: (i) Diversify customer segments by providing the right products for each segment; (ii) The quality of products and services and the variety of products is a decisive factor in the choice of customers; (iii) A dynamic working environment, desire for motivation is a different factor in attracting and retaining talents; (iv) Developing leadership teams inherited from the inside the organization.

Institutional Brokerage: Continue to promote service to new types of customers in traditional markets (USA, UK, Singapore, Hong Kong, Thailand, Japan, Korea ...); Develope new markets with an interest in Vietnam, expand investment opportunities in Vietnam for international institutional and individual investors. In terms of products, carry out cross-selling products to catch the trend of larger IPOs, diversify product portfolio with ETFs, corporate bonds, futures contracts and covered warrants.

Treasury: (i) Ensure liquidity, seek new sources of capital to reduce costs and increase long-term profits for SSI; (ii) Develop new financial products to meet the needs of Clients.

Asset Management: In 2019, SSIAM continues to develop distribution channels through the commercial banking system to reach the potential customer files of these banks. In addition, SSIAM will promote its open-ended fund certificate products and bond portfolios, promote the distribution of ETF certificates to foreign Individual and Institutional Clients.

Investment Banking: In 2019, IB division will focus on advisory activities of issuing domestic bonds, international bonds and debt instruments for private enterprises in addition to consulting activities to raise equity capital, which is the strength of SSI over the years. In addition, SSI will continue to perform advisory contracts for buyers and sellers in M&A transactions, including transaction structure consultancy and transaction execution consultancy.

Ivestment: Continue to choose a dynamic investment strategy with a flexible portfolio, keep track of market movements. Besides, the Company also proactively divest investments that have achieved the expected return, investments that are not in the long-term investment strategy of SSI. In 2019, based on the existing foundation of abundant equity, SSI Investment Division identified resonance support with other Business Divisions: Investment Banking (in underwriting, co-invest), Securities Services (in new products), and SSIAM (in looking for new investment opportunities). Facing market opportunities and challenges, SSI is ready for creative activities, improving competitiveness, developing business strategies in line with international integration, and carrying out the responsibilities of a leader with the mission "Connecting capital to opportunities"; attaching importance to improving the quality of human resources; build a business culture, and first of all, follow the laws and corporate governance according to best practices.

About SSI Securities Corporation (HOSE: SSI)

SSI Securities Corporation (SSI - HOSE) - established in December 1999 - is one of the pioneer companies at Vietnam stock market. Over 18 years of operation, SSI has become the largest financial institution in the market with a chartered capital of VND 5,100 billion, operating in major financial services including Retail Securities Services, Institutional Securities Services, Asset Management, Investment Banking, and Treasury. In 2018, SSI lie within the list of private and listed securities companies with Top highest scale of capitalization, total assets, profit as well as profitability of ROE in ASEAN region.

On December 18, 2018, the company officially changed its name from "Saigon Securities Incorporation" to the new name "SSI Securities Corporation" - unifying the company name with the abbreviation and stock code issued in the market. This is considered a necessary change, helping investors, especially foreign investors, easily identify the company's brand, in the context that SSI is one of the 40 most valuable brands in Vietnam, valued at USD 30.8 million. On the other hand, showing a professional image, aiming for further and greater development of the company in the future, not only in Vietnam market but also in the region as well as around the world.

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