In the post-pandemic era, many businesses are going above and beyond to attract shareholders to their annual general meetings. For instance, Ms. Huyen Cham, a shareholder of Saigon Commercial Bank for Industry and Trade, was pleasantly surprised when she received 600,000 VND at a half-hour meeting.
The trend of giving gifts to shareholders is not limited to just cash incentives. Companies like Military Bank, SHB, and Construction Development Investment Joint Stock Corporation are also offering various gifts such as rice, fish sauce, household appliances, and health care products based on the number of shares they own.
While some businesses are spending billions on gifts for shareholders, others are opting for online shareholder meetings to save costs. This strategy is being adopted by companies like Vinamilk, Mobile World, and Hoa Binh Group, which have seen reduced revenue and profits due to the impact of the pandemic.
According to an economic expert in Ho Chi Minh City, giving gifts to shareholders helps to generate excitement and improve the perception of the business among investors. This trend has been seen as a way to engage shareholders in the annual general meeting and potentially encourage them to stay invested longer in the company.
Overall, businesses are grappling with difficult market conditions in the first few months of the year. However, there is optimism for recovery in the later part of the year as many companies are hopeful that the market will warm up again in the third quarter leading to increased business activity and improved financial performance.