Coteccons Announces New Leadership

On November 05, 2021, Coteccons Construction Joint Stock Company (Code: CTD) recently issued a staffing structure that aligns with the company’s diversification strategy and announced a senior staff appointment to the Board of Directors.

With the increasingly fierce competition in the construction field, in addition to focusing on the core business by ensuring and improving the quality of works to approach international standards, the company must rapidly develop new business segments such as infrastructure, renewable energy; expand environment-friendly construction solutions; optimize technology, etc. Strategy to diversify business activities in the field with high intellectual and technological content will require focus on and investment more in human resources. Coteccons identifies people as the key factor and plays a critical role in the successful implementation of the strategy.

With the orientation, Ms. Pham Thi Bich Ngoc was appointed to the position of Deputy General Director of Human Resource Management, with the responsibility to continue appointing high-level human resources to serve the model of diversification and standardization of human resource management platforms such as evaluation system closely linked to business objectives, career development roadmap for employees, talent retention program, salary and benefit system linked to job performance…

Ms. Ngoc has joined Coteccons since May 2021 as a senior advisor to the Board. She graduated with a Master of Business Administration from Solvay University, a BA in English from the University of Social Sciences and Humanities and has 24 years of experience working for leading companies in Vietnam such as Techcombank, Masan, Prudential, MGM Grand Ho Tram, Bayer and Vietnam Airlines. In addition to her primary expertise in human resource management, Ms. Ngoc continues to serve as Senior Advisor to the Board of Directors, leading the transformation of organizational culture and customer experience, localizing training programs; ensuring to inherit the traditional values of Coteccons while meeting international standards.

In addition, the Company also announced that Mr. Michael Tran will be leaving Coteccons as of November 30, 2021, and thank him for his great contribution over the past year. Mr. Bolat Duisenov, Chairman of Coteccons shared, “Coteccons would like to express our sincere appreciation to Mr. Michael Tran for his tremendous contribution to our company over the past year, we recognize and appreciate his competent and professional work ethic, his commitment, dedication, and leadership, especially his great efforts in setting up the team and ensuring smooth operations at the sites. In particular, Mr. Michael Tran is one of the pioneers in building Coteccon’s transformation platform in the past year. Coteccons would like to wish that Mr. Michael Tran will continue to achieve further great success in his new chapter.”

 

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Boost Coteccons’ transformation into a diversified ecosystem through the core construction of integrated technology and green construction. Hanoi, April 17, 2024, Coteccons Construction Joint Stock Company (HoSE: CTD) and Kusto Group signed a strategic partnership agreement to establish and execute an investment strategy in the Vietnamese market. According to the agreement, Kusto Group pledges to invest 200 million USD through a co-investment partnership with Coteccons from 2024 to 2028. This strategic collaboration between Coteccons and Kusto Group will support Coteccons in enhancing its core business by leveraging these strategic investments to achieve important goals such as retaining clients by providing comprehensive solutions and services for Coteccons’ traditional customers and creating an edge in securing the portfolio of long-term customers, which is the foundation for growing revenue and improving profit margins in a context of market turbulence. Moreover, this partnership, based on the common principle values of Kusto Group and Coteccons in sustainable development, once again affirms Kusto Group’s continuing investment activities in the Vietnam market since 2005. Mr. Alexandr Donov, member of the Board of Directors and Chief Financial Officer of Kusto Group, said, “We see the great potential of Vietnam and believe that there is still a lot of room for further development. A strategic partnership with Coteccons is a concrete commitment to contribute to promoting Vietnam on the investment list for our global partners. We believe that Coteccons, our strategic partner, will support us with their expertise and capacity to help us find suitable opportunities, seeking investment

New movements of Coteccons Amidst signs of a recovering business environment, Coteccons (stock code: CTD) – rated BBB by Finnratings with a stable outlook – is experiencing accelerated growth with impressive revenue and profit growth. The company’s robust balance sheet has propelled profits to grow multiply, resulting in a sharp increase in total accumulated profit over the past 6 months compared to the same period last year. In the new fiscal year, Coteccons’ audited financial report for the first 6 months of 2024 shows that the company’s total assets are VND 21,652 billion. Out of this, cash reserves have reached VND 4,304 billion, accounting for 20% of total assets (excluding stock investments and other financial investments). Coteccons has also improved the quality of its receivables from reputable clients, resulting in a decrease of VND 44 billion, or 46%, in bad debt provisions. Furthermore, cost optimization measures have led to a significant reduction in selling, general and administrative expenses by VND 81 billion, or a 28% decrease compared to the same period. By the end of the first half of 2024, Coteccons had achieved revenue of VND 9,784 billion and profits of VND 136 billion, completing 55% and 50% of the set plan, respectively. Besides impressive financial indicators, Coteccons is continuously recognized and honored in other prestigious rankings such as: VNSI Ranking – Top 20 Vietnam Sustainable Index – demonstrates Coteccons’ commitment to actively contribute to the community and social environment. Top 10 reputable contractors and Top 50 Vietnam the

“In general, the market has not had many clear developments in the real estate sector, even in big cities such as Ho Chi Minh City and Hanoi. Only a few new investment projects are licensed. Therefore, our reports also show caution, considering market trends to make revenue and profit forecasts.” This was the first comment of Mr. Bolat Duisenov – Chairman of the Board of Directors of Coteccons Construction Joint Stock Company (CTD) at the 2023 Annual General Meeting of Shareholders that took place on the afternoon of October 17. For the year of 2023, Coteccons expects revenue to reach 6,744 billion VND, consolidated profit after tax to reach 52 billion VND. Meanwhile, in the 2024 fiscal year (from July 1, 2023 – June 30, 2024), Vietnam’s No. 1 Construction Group sets revenue and profit after tax targets of VND 17,793 billion and VND 274 billion, respectively. billions dong. However, according to the “captain” of Coteccons, the business still has certain strengths, with much better results than other companies in the same industry. Mr. Bolat also emphasized Coteccons’ spirit of transparency and willingness to meet and answer any questions from shareholders. We failed but not defeated! Coteccons aims to participate in the fields of infrastructure and renewable energy. While there are many works and projects in this field, Coteccons is still only a spectator. The goal of reaching 3 billion USD in revenue and 1 billion USD in market capitalization by 2025 is just an empty slogan. So can

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