Ho Chi Minh City, February 18, 2025 – In line with our commitment to transparency and best corporate governance practices, Coteccons Construction Joint Stock Company (HoSE: CTD) annouces receiving Decision No. 08/2025/QĐST-KDTM from the People’s Court of District 1 regarding the resolution of outstanding debt at a key project. With this settlement, Coteccons has made significant progress in bad debt recovery and is on track to exceed the commitment made at the 2024 Annual General Meeting (AGM) by the end of fiscal year 2025. This milestone underscores Coteccons’ ongoing efforts in debt recovery and reinforces our sustainable financial strategy, delivering direct value to shareholders and investors.
According to Coteccons’ estimation, Vietnam’s construction industry is projected to grow by 13% to 15% in 2025, reflecting a robust rebound from global economic disruptions.
Leveraging both industry momentum and internal strengths, Coteccons has set ambitious targets, including a revenue of VND 25 trillion for FY2025 and sustainable annual growth of 20–30% in top line and bottom line over the next 4–5 years. These targets are largely attributed to Coteccons’ “repeat sales” strategy and client-centric approach. By empowering project directors (PD Empowerment) with the flexibility to make agile and innovative decisions, Coteccons has consistently delivered high-quality projects on schedule. This approach has earned the trust of top real estate developers such as Vingroup, Sun Group, Ecopark, Capitaland, and others, resulting in repeat contracts accounting for approximately 70% of awarded projects.
The aforementioned accelerated progress in debt recovery has been driven by proactive engagement with clients and a favorable market recovery, enabling Coteccons to fast-track debt resolution efforts. The cooperation and goodwill of stakeholders, particularly project developers, have played a crucial role in reaching these agreements.
“Not generating new bad debt and minimizing overdue debts from before the restructuring remains a priority for Coteccons. We have had open and transparent discussions with shareholders about our financial strategy at the AGM, and we are confident that with the recovery of clients’ financial health, there will be significant progress in resolving bad debts in the next 12-18 months.” – Mr. Bolat Duisenov, Chairman of the Board, shared.
Effective debt management strengthens Coteccons’ financial health, improves solvency, and positively impacts stock value, reinforcing the company’s commitment to stability and long-term growth. This milestone marks a significant step in Coteccons’ financial strategy, prioritizing shareholder interests and transparency as fundamental principles for sustainable development.
About Coteccons
Coteccons is Vietnam’s leading construction company with over 20 years of experience, renowned for high-quality projects and strong commitment to sustainability. The company continuously innovates, enhances financial strength, and improves corporate governance to maintain our industry leadership.
