2021 Annual General Meeting of CMC
The 2021 Annual General Meeting of CMC Corporation was held at CMC Tower, 11 Duy Tan, Hanoi on 21 July 2021. Participants of the meeting include members of the BOD, Board of Management, Board of Supervisors and other delegates who attended both in person and online. The event was held in accordance with the regulations on keeping distance and ensuring safety prescribed by Ministry of Health.
Assessment of financial activities in 2020
According to the Evaluation Report of Board of Management, in 2020, the total revenue of CMC Corporation is 5,666 billion VND, 5% higher than the previous year; profit after tax is 241 billion VND, up 16% over the previous year.
Fields of operation also have relatively stable results in the context of unpredictable pandemic affecting the economy in general and the IT industry in particular.
In detail: The Technology Solutions Department has completed 95% of the plan and maintained traditional customers in strategic markets such as: banking & finance, large enterprises and the Government sector. The department also strives to expand the market of small and medium-sized enterprises, restructuring and shifting its strategy from trading traditional products and services to providing digital solutions and services.
The 2021 Annual General Meeting of CMC Corporation was held on 21 July 2021
The International Business Department has revenue growth of 64% and plan completion rate of 96%. After three years of investment, the department has made profit and built its capacity to provide professional ITO services meeting international standards and to compete globally. The department also invests in new technology capacities, namely Cloud MSP, Low code and RPA.
The Telecommunications Services Department has increased revenue by 7% and completed 93% of the plan. Despite a large number of customers cancelling services and a decrease of service charges, the department is still able to maintain a steady growth of core services such as: Data, Data Center, and Internet. Especially, CMC Cloud service (the cloud platform developed by CMC) has high growth rate and is leading the market. CMC still maintains relationship with customers and growth rate in strategic markets, at the same time, it also looks to expand to new business segments that are less affected by the pandemic. The Tier 3 international standard data center built in Ho Chi Minh City with a scale of 1.200 racks helps the department to continue developing CMC Cloud and the open ecosystem C.OPE2N.
CMC Institute of Science and Technology has built an ecosystem of interactive technology products in five areas: Internet of Things/Smart Devices, Bigdata, artificial intelligence (AI), Datalake, Blockchain - Security. The Institute has been and will be researching breakthrough inventions and technology platforms for CMC in particular and Vietnamese technology industry in general, typically the AI-based facial recognition solution CIFAMS.Face.
At the discussion session of the meeting, Mr. Nguyen Trung Chinh - Chairman of BOD/Executive President of CMC Corporation answered questions focusing on main contents such as: supplementing business lines to the corporation's business registration; the cooperation and support from Samsung SDS for CMC; the plan to invest in the infrastructure; McKinsey consulting strategy; solutions to attract talents in the field of information technology; the development potential of the international business department; the development of Made by CMC services and solutions, and Make in Vietnam products.
Challenging goals in 2021 and long-term plan
In fiscal year 2021, CMC aims for its revenue to increase by 20% and consolidated profit before tax by11%. As advised by McKinsey, CMC Corporation will carry out Big Moves and apply 20 strategic initiatives for domestic and foreign markets.
In addition, 2021 marks the first year in CMC's 5-year strategy with many activities on capacity investment for new strategic moves, including: investing in resources, new technologies, products and services, and technical infrastructure for telecommunications and information technology.
CMC positions itself as a global digital company, a provider of digital products and services, a leading consultant of digital transformation solutions for businesses and organizations, contributing to shaping the market of cloud computing (Cloud) and SaaS and leading the cyber security market.
The Corporation will become a global, world-class enterprise with 1 billion USD of revenue and over 10,000 employees by 2025. Its revenue will increase 4 times and its scale 3 times compared to the present. In the first quarter of fiscal year 2021 (March to June 2021), revenue of CMC grew by 23% and profit by 48% compared to the same period last year. This is the good news proving that CMC is on the right track.
“2020 is a challenging year for businesses. However, we realize that this is an opportunity for CMC when all organizations, businesses and countries are digitally transformed, going from face-to-face business to online business. In that situation, in terms of business, CMC has resiliently held its ground and made every effort to turn opportunities into reality. Internally, the Corporation promotes human strength, creativity and discipline. In the coming time, CMC will promote its core values of: Customer Orientation, Speed, Commitment and Creativity to accomplish the set goals", said Mr. Nguyen Trung Chinh - Chairman of the Board of Directors, Executive President of CMC.
According to the FAST500 Enterprise Survey in March 2021 of Vietnam Report, Information and Communication Technology is in the Top 7 potential industries of the 2021-2024 period. This is a great opportunity for CMC in particular and ICT enterprises in general. If the pandemic situation is still complicated, the demand for using and applying information technology in operation and production, etc. of domestic and overseas customers will bring many opportunities of business and technology capacity development to CMC.
The focus on developing products, services and solutions bearing the mark of the Corporation is also consistent with the slogan "Make in Vietnam" of Ministry of Information and Communications, which emphasizes on the proactivity of Vietnamese people in creating and designing high-tech products.
Appointment of General Director
On the same day, Mr. Ho Thanh Tung, Acting General Director has been appointed as General Director of CMC Corporation. The General Director will direct CMC Corporation to roll out the strategy set by the Board of Directors.
Mr. Nguyen Trung Chinh, Chairman of the Board of Directors/Executive President of CMC Corporation (left) presents gift for the appointment of Mr. Ho Thanh Tung (right) as General Director of CMC.
Mr. Ho Thanh Tung was born in 1971. He is an MBA from University of Washington (USA); and graduated from Moldova University with a Bachelor's degree in Mathematics and Computer Science.
He joined CMC in 2017 as Deputy General Director, directly in charge of companies in the Technology and Solutions Department. After that, he held the position of Senior Executive Vice President cum General Director of CMC Technology and Solutions. From November 2020, Mr. Ho Thanh Tung held the position of Acting General Director of CMC Corporation, General Director of CMC Technology & Solutions (CMC TS).
Results of electing members of the Board of Directors for the 2021-2026 term:
- Mr. Nguyen Trung Chinh
- Mr. Nguyen Minh Duc
- Mr. Ha The Vinh
- Mr. Nguyen Danh Lam
- Mr. Truong Tuan Lam
- Mr. Le Viet Ha
- Mr. Kim Jung Wuk
- Mr. Lee Jay Seok
- Mr. Nguyen Phuoc Hai
Results of electing members of the Board of Supervisors for the 2021-2026 term:
- Ms. Vu Thi Phuong Thanh
- Ms. Nguyen Thi Hong Nhung
- Mr. Nguyen Thanh Nam