After the pandemic, to attract shareholders, many businesses choose to give away money, food, and massage machines when they attend their annual general meeting.
Holding very few SGB shares of Saigon Commercial Bank for Industry and Trade, Ms. Huyen Cham in Ho Chi Minh City was surprised because at a half-hour meeting she received an envelope of 600,000 VND.
“Receiving the amount of money is not too large, but this is a comfort for shareholders when holding shares to accompany the business,” Ms. Cham said.
The bank’s shareholder status inspection board said there were about 328 shareholders attending, meaning the bank spent nearly 200 million VND in gifts.
Similarly, at the annual general meeting of shareholders of Military Bank (MBB), each shareholder received an envelope containing 500,000 VND in cash. This remains the same as the 2023 policy and is supported by many. With about 2,200 shareholders attending, it is estimated that this bank spent 1.1 billion VND on gifts for the shareholders’ meeting alone.
Ms. Cham’s gift was received at SGB’s shareholders’ meeting. Image: Huyen Cham
SHB shareholders also received an envelope of 200,000 VND. With about 1,400 shareholders attending the meeting, the bank spent an estimated VND 280 million to express gratitude to shareholders.
Construction Development Investment Joint Stock Corporation (DIG) wowed shareholders by donating millions of dong. Accordingly, shareholders attending the meeting will receive an increase of 10 million VND per person when owning over 1 million shares. For small shareholders holding less than 1 million shares, the amount received will correspond to the number of shares multiplied by 10 VND per share.
Besides giving moneythis year’s shareholder meeting season, many businesses choose to give gifts with products such as rice, fish sauce, aloe vera or household appliances and health care products.
Typically, PAN Group Joint Stock Company (PAN), the gifts for shareholders with over 25,000 shares are 50 kg of Vinaseed rice, 6 bottles of 584 Nha Trang premium fish sauce and 1 gift box of a variety of PAN products including cashew nuts and dried fruits, candy, coffee.
Compared to last year’s gift, this year’s gift from the PAN Group reduces up to 50 kg of rice, reduces 6 bottles of 584 Nha Trang premium fish sauce and increases 1 gift box of diverse PAN products.
Or like GC Food Joint Stock Company, each shareholder will receive a gift including coconut jelly, aloe vera and aloe vera bonsai pot.
In the agricultural group, last year the Hoang Anh Gia Lai shareholders’ meeting also gave bananas, pork, and durian to shareholders.
Set of glasses that Sacombank gave to shareholders attending this year’s congress. Image: flexible knitting
Reducing gifts compared to last year, this year Saigon Thuong Tin Ancient Commercial Bank (STB) only gives shareholders a set of glasses, instead of half a tael of 24k gold. Similarly, VPBank gave shareholders massage machines.
While many businesses spend billions to give gifts to shareholders, on the other hand, many congresses do not give gifts and are held online. Among them, Vinamilk, Mobile World, Hoa Binh Group… chose online congresses to save costs. This is also a group of businesses that, over the past 3 years, have continuously reduced revenue and profits due to the impact of post-Covid-19, reduced purchasing power, and consumers tightening spending.
Exchange with VnExpress, An economic expert in Ho Chi Minh City evaluates that giving gifts to shareholders is a way to help investors be more excited when attending the annual general meeting in addition to listening to a dry business plan presentation. This has been a trend in recent years to help shareholders get excited about attending the general meeting.
“Gifts are not large compared to the investment value of shareholders, but will help shareholders have a more favorable view of the business and have a psychological impact on staying and investing longer,” this person said.
He also said that the companies donating money this year are mostly businesses with better business results in 2023 than in 2022.
In the first 4 months of the year, businesses and banks said their business activities were still difficult. In particular, many businesses decreased profits over the same period. Eximbank’s leader said that in the first quarter of this year, the credit market was the most difficult in the past 18 years, but company leaders believe that from the third quarter the market will warm up again.
Sharing the same view, businesses producing consumer goods and food said purchasing power will recover well from the end of the second quarter of this year.