The Annual General Meeting of Shareholders of Saigon General Service Corporation (SAVICO) in 2013 with securities code of SVC will be held on Friday, 5th April, 2013 at SAVICO Head office, No. 68 Nam Ky Khoi Nghia, District 1, Ho Chi Minh City to summarize its business operations in 2012 and propose operation plan in 2013 with the target of Innovation - Development.

2012 was a difficult year in the economy that had a strong impact on the operation areas of Corporation; especially in the Service - Trade, doing business in automobile and motorcycle was influenced by the macroeconomic policy changes, registration fee increase and bank interest rate instability leading to the decrease in consumer purchasing power. With flexible and timely operating solutions, SAVICO has maintained and developed its operations, ensured financial safety and life for employees.

At the end of 2012, sales and service revenue of the whole SAVICO system reached 6,992 billion dongs, by 86% compared to the same period in 2011; profit before tax of the whole SAVICO system was 78.1 billion dongs, by 49% compared to the same period in 2011.

Regarding the consolidation target, sales and service revenue reached 5,433 billion dongs, by 88% compared to the same period in 2011 and reached 121% of the plan in 2012; profit before tax was 61.4 billion dongs, equal to 52% compared with the same period in 2011 and reached 102% of plan in 2012.

Regarding Services - Trade, key sectors of SAVICO, consumption of brands has decreased over the years but thanks to the continuous improvement of after-sales service, and attaching special importance to the customer service quality, it has effectively contribute to implement the targets in 2012.

• Consumption of automobile such as Toyota, Ford, Hyundai... of the whole SAVICO system is 8,538 automobiles, achieving 108% of plan reducing 22% compared to the same period in 2011, accounting for 9.8% of the market share VAMA, increasing 0.7% point against 2011. Services and trading in spare parts and accessories continue to grow well, with total revenue of over 536 billion dongs, increase of 14% compared to the same period in 2011. SAVICO remains as a leading automobile distributor in Vietnamese market.
• The consumption of system-wide motorcycle was 20,000 reaching 90% of plan, decreasing 12% against 2011. Number of motorcycle sold by the brands is reduced. Particularly Yamaha motorcycle increased 14%; in 2012, SAVICO has further opened two 3S Yamaha dealers in Vinh Long and District 5, Ho Chi Minh City. Especially, revenue of accessories and spare parts of the whole system reached 81 billion dongs, increase of 18% compared to the same period.

Real estate service:

• In the quiet and difficult context of the real estate market, SAVICO takes initiative in restructuring portfolio, strengthening business and marketing, and seeking customers to develop projects in cooperation; increases the rate of exploiting the commercial centers and offices for lease...that provides encouraging results and cash flow contributing to reduce capital-using costs of the real estate itself and the Corporation as well.

Financial service:

• With target of focus on restructuring capital and determining efficient investment in three sectors; checking efficiency of capital use of each unit, examining cost implementation of each sector and department; and reducing inventory costs at the units, SAVICO focused on ineffective investment portfolio liquidity reducing the total assets of the sector and the financial pressure for the Corporation and supporting finance for the whole system.

In 2012, SAVICO celebrated the 30th anniversary of establishment (1st September, 1982- 1st September, 2012). SAVICO received the Certificate of merit from the Prime Minister and 30-year traditional Emulation Flag from Ho Chi Minh City People’s Committee. SAVICO continued to award the title of Top 50 best annual reports... SAVICO and its members in the system such as Toyota East Saigon Joint Stock Company (TESC), Saigon Automobile Company Limited (Saigon Ford) reached the Top 500 Vietnamese largest enterprises and received great prizes by suppliers. The above results clearly confirmed SAVICO stature and continuous development as well.

The central task of SAVICO in coming time is to continue to implement the strategic goal of successfully building a model of strong investment corporation in the whole country and in the region in 2015, and international integration in 2020. With the gold of Innovation – Development, the Board, Executive Committee and staff throughout the system continue to overcome difficulties, ensure the business plan in 2013 with business targets submitted at the General Meeting of shareholders. The whole system is determined to strengthen activities in three sectors of the Corporation, attach special importance to development of larger automobile – motorcycle sector scale, and further the service development focus. At the same time, SAVICO focused on development of human resources on the basis of restructuring the Corporation management efficiently and transparently; accelerating the advertising communications to make a tight connection in the system to perform the plan in 2013 best, preparing preconditions to receive new opportunities as the economy recovers.