We attended CII’s AGM on April 18, 2019, in Ho Chi Minh City. Shareholders approved CII’s 2019 guidance with 2019G revenue and NPAT-MI of VND5.4tn (USD235mn, 99% YoY) and VND717bn (USD31mn, 6.5x YoY), respectively. Management expects earnings growth to be driven by higher contributions from its real estate segment, specifically its Riverpark real estate project and consolidation of real estate developer 577 Investment Corporation (HSX: NBB).