AUSTRALIAN CHAMBER OF COMMERCE, VIETNAM HCMC. HCMC CHAPTER COMMITTEE 26 March, 2014

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1 DRAFT MINUTES of 2014 ANNUAL GENERAL MEETING CHAPTER COMMITTEE 26 March, 2014 Board Members Present:Chris Butler, Shane Dillon, Carl Gay, Tran Thi Thuy Ha, TareqMuhmood (President), Greg Ohan, Khoa Pham, Brian O'Reilly, Jamie Rossall, Chau Ta. (Note: For an AGM, quorum is determined by Voting Members present at the AGM as well as thosewho have already voted on line). Venue: The Park Hyatt Hotel,. Meeting opened: 6.35pm. President Tareq Muhmood(Tareq) welcomed all attendees and introduced our current Board of Directors. He gave special thanks to our Corporate Investors (Platinum- ANZ Vietnam; Gold - Santa Fe & International School ; Titanium- KPMG; Silver- QBE Insurance and EIS ; Bronze - Ernst & Young, Leighton, Commonwealth Bank of Australia, Platinum Global, RMIT University, the Al fresco s Group and Australian International School and VGAC), theaustralian Embassy and Austrade for their continued support. He then provided an update on several areas. Sponsorship Update One additional Silver Investor (European International School) Two new Bronze Investors (Australian International School and Al Fresco s Group) Two additional members have advised in writing that they would like to become Bronze Investors We now have 8 possibly 10 Bronze Investors giving us a solid base to grow Membership Update 2014 YTD 188 members (including 450 corporate and individual nominees) 406 Corporate Nominees (144 Corporate Companies) 33 Individual members 11 Alumni members (including 537 corporate and individual nominees) 1

2 483 Corporate Nominees ( 168 Corporate Companies) 41 Individual members, 13 Alumni members (including 564 corporate and individual nominees ) 518 Corporate Nominees (175 Corporate Companies) 33 Individual members,13 alumni Corporate Governance In 2013, the Committee has continued to implement best practices in Corporate Governance: When vacancies arise on the Board, nominees are required to fill out self assessment which is reviewed by a Nominations Committee. Approved Nominees are recommended to full Board for approval. Elections at the AGM are open to all voting-right members. Elected Board members must sign a declaration that they are a person of good repute. Board members speaking on behalf of the Chamber at official functions are required to prepare a brief paper documenting their position and, if not confidential is put on AusCham s website. Advocacy Groups that AusCham is involved Vietnam Business Forum (VBF) Associate Member Coordinator of the newly formed Agribusiness Working Group Member of the Governance and Transparency Working Group Co-Chair the Education Working Group Chair the Mining Working Group Advisory Council of Administrative Procedures Council (ACAPR) Ho Chi Minh Union of Business Associations (HUBA) Towards Transparency (TT) Business Essential Seminars 14 held in 6th Feb - AusCham - Business Luncheon: International Anti-Corruption Day: Risks & Regulations 1st Mar - AusCham - Breakfast Briefing with Dr. Matthew Durban- Austrade lead economist and senior trade and investment analyst 15th Apr - AusCham - Tea-break Briefing: An update from Dr. Rafi Kot on his perspective of health care in Vietnam today 2

3 23rd Apr - AusCham - Business Luncheon: HR Transformation 4 th Jun - AusCham - Business Luncheon: Major reform for the Vietnamese retail industry - Greater opportunities for foreign investment 5th Jun - AusCham - Evening Briefing: Travel at 1/125 of a second. A evening of travel photography with Mark Stennett" 30th Jul - AusCham - Business Luncheon: Latest tax developments - What changes do I need to be aware of? 19th Aug - AusCham - Evening Cocktail Fireside Chat with Australian Ambassador to Vietnam Hugh Borrowman 19th Sep - AusCham - An evening with ANZ Chief Executive Officer - Australia PHILIP CHRONICAN 8th Oct - AusCham - AusCham Symposium Vietnam Real Estate Market: Ups & Downs What next? 11th Dec - AusCham - Social media briefing Be Brand Social 49 other co-host seminars with other local Chambers(EuroCham, CanCham, BBGV, SBG etc) Proposed Business Activities st Apr - Tips of Healthy Living in Vietnam Medical Healthcare, security and Lifestyle presented by International SOS 10 th Apr - Education Seminar presented by EIS 15 th Apr - Ambassador Function 17 th Apr - Affluence Vs the Masses Targeting the right customers in Vietnam presented by Nielsen 23 Apr - ANZAC Great Debate 5-9 May - Foreign Investment in Vietnamese Distribution Market 1 st June - Doing Business in Myanmar Charity Activities 2013 SWIM Vietnam 1. VND204,043,412 was raised for the SWIM Vietnam through silent auction at the AusCham Intergalactic Ball in September 2013 to purchase of a ground swimming pool, support AUSTSWIM training course and survival swimming programs at the Kim Dong Primary School in the flood-prone TienPhuoc Province VND 46,849,258 from the total profit of AusCham s Golf Day 11 Oct was also donated to Swim Vietnam SympaMeals Hanoi 3

4 4. VND106,076,263 was raised for the SympaMeals Hanoi through silent auction at the AusCham Hanoi Intergalactic Ball in November 2013 and these funds were used to buy milk powder for poor patients Annual Balls Ball 15th September 2013 HANOI Ball 16th November 2013 Approx 360 attendees in, 153 attendees in Hanoi Profit : Loss of approx. $2,600 for both events Intergalactic theme Well received by members and the wider community Treasurer s Report The Treasurer submitted a report which revealed a loss of $32,569, nationally, for the year. The Annual Ball was an example where the sponsors and potential attendees no longer had the same level of interest as in previous years. It was expected that in 2014, AusCham would become more relevant to sponsors and members. The new national board was a key example of evidence of change as well as the reopening of the AusCham office in Hanoi. Amendments to Charter the formation of a new National Board ThePresident recommended that the Charter be amended as follows: The and Hanoi Chapters be managed by a single National Board to be electedjointly by the membership as a whole." The Hanoi Chapter approved this recommendation. 63 per cent (32 of 51) of eligible voters cast their vote of which 97 per cent (31 of the 32) approved the proposal. In, 58 per cent (112 of 194) eligible voters cast their vote. 99 per cent (111 of the 112) approved the proposal. Thus, the recommendation was approved by both Chapters. With the amended charter requiringa national board, the following nominees were elected to the new National Board. Hanoi Representatives: 4

5 1. David Whitehead 2. Giles Cooper 3. Adam Mc Donald 4. Chris Vella Representatives: 1. Chris Butler 2. Shane Dillon 3. Carl Gay 4. Tran Thi Thuy Ha 5. TareqMuhmood 6. Greg Ohan 7. Brian O'Reilly 8. Jamie Rossall The President thanked the members of the 2013 Hanoi and Boards who served but did not put themselves up for re election in 2014 (Lia Garcia Halpin, James Kirton and Mark Long). He then thanked those members who put themselves up for re election but were unsuccessful (Chau Ta, Michael Johnston and Khoa Pham). The President advised that with the new National Board would elect a new President to serve it during Any person on the Board (irrespective of Chapter) is able to nominate for the position of President. All members of the Board would then vote separately for their preferred President and the nominee with the most votes would be declared the President. There would then be a second election (if required) for a Vice President. The condition on the Vice President though is that they must not be from the same chapter as the President. Audited Financial Reports KPMG were reappointed as our auditors at the 2013 AGM in March 2013 The financial statements for 2013 were received and approved KPMG was reappointed as auditors for 2014 The Meeting was closed at 7.30pm. 5