In the morning of June 15, the Annual General Meeting of TRACODI (Tracodi, HOSE: TCD) has approved several important issues, in particular, the vision of long-time development of the Company.

During 2018- 2022, Tracodi will focus on its core businesses such as: trading, quarrying – construction material; infrastructure construction and real estate. For financial targets, by 2022, Tracodi expects to earn more than VND 2.000 billion in revenue and VND 134 billion in profit after tax respectively, the dividend will also increase from 20-22%.

Through 2018, Tracodi plans to achieve VND 1.150 billion in net revenue and VND 77 billion in profit after tax, an increase in comparison with 2017. The dividend will be from 10-12%.

Divestment in Myanmar real estate project, plan for Vinataxi to be listed on Hochiminh Securities Exchange.

For trading, this sector contributed VND 450 billion in revenue and VND 15 billion in gross profit. In which, focusing on export of tapioca and coffee; domestic trade of micro-biological products.

For infrastructure construction, Tracodi expects to gain double revenue of VND 390 billion and earn VND 27 billion in gross profit compared with 2017. Accordingly, the Company will focus on projects in Long An such as  BT 830C, social houses in Ben Luc, infrastructure construction for solar power plant in Thanh Hoa (start in 8/2018); high-end apartment project in Thao Dien (District 2), HCMC), Malibu Villas (Quang Nam) and Dragon Bridge (Da Nang). 

The 1ha Land located in Nguyen Van Huong Street, Thao Dien has been purchased by Tracodi and Bamboo Capital JSC (BCG) in 2017 to implement project and it is expected to kick off within next 2 months. Tracodi contributed 40% capital and will be general contractor for this project.

For Prince Court Tower project at 89 Cach Mang Thang Tam Street with the land area of 1.048 m2, total investment is expected VND 850 billion. Currently, the Company is carrying out procedures to seek for approval and expected to kick off in 2018-2020. 

For quarrying with joint venture Antraco, we will approach more customers for key projects such as Thermo Power Plant 3 (Hau Giang), Dai Nghia Bridge (Soc Trang), Chau Doc Bridge (An Giang), upgrading and expanding Highway 30, Trung Luong – My Thuan - Can Tho Highway. 

For its subsidiary Vinataxi, with 330 cars we have planned to achieve VND 85 billion in revenue and VND 8 billion in profit after tax. According to Tracodi, TCD has 30% stake of Vinataxi and has affected from competition with its rival Grab. However, this year, Vinataxi has planned to grow strongly by merging with Savico Taxi.

In fact, Tracodi has discussed with its partner Comfort Delgro (Singapore), who holds 70% stake of Vinataxi,  about strategy of Vinataxi will be listed on HOSE or Tracodi will divest in Vinataxi.

In 2017, TRACODI divested in HAG ( 90% borrowing from the bank)

In the end of the financial year 2017, Tracodi reached VND 1.096 billion in revenue and VND 91,4 billion in profit before tax, exceeding 25% and 22% of the plan respectively.

As at 31 December 2017, total assets reduced VND 1.296 billion due to decrease in long-term debt. According to Tracodi, in 2017, Tracodi divested in HAG (90% borrowing from the bank) to ensure financial security. Tracodi sold its stakes for partners with primary price and a portion of interest, therefore, total assets and debt both reduced. Meanwhile, the balance sheet shall be safer and more stable for long-term period as requested by shareholders.

Do not intervene in stock price volatility

In May 2018, Tracodi welcomed new major shareholder Woomi Construction (Korea) with 5% stake of TCD. Up to date, Woomi Construction has become the fourth major shareholder of TCD, after Intact Management (Taiwan), Bao Viet Securities Joint Stock Company, and its parent company BCG.

Regarding shareholders’ inquiries why TCD price sharply fell recently and what will Tracodi do for stock liquidity, the Management answered that they have not intervene in stock price volatility, the price may affect due to shareholders have holding stocks for a long time or new investors have not accessed the Company’s information sufficiently and properly.

The Management will not directly or indirectly create supply or demand and affect on stock price in the market, but they will convey transparent and sufficient information to investors quickly and properly, also build good business plan that bring long-term benefits to the Company which will attract investors instead of intervention of stock price for unstable short-term effect.

The AGM approved new BOD and SB for the tenure of 2018-2023 including:

• Mr. Nguyen Ho Nam (Chairman)
• Mr. Nguyen Thanh Hung
• Mr. Morisshima Kenji (Independent Director)
• Mr. Bui Thanh Lam
• Mr. Nguyen The Tai
• Mrs. Le Thi Mai Loan
• Mr. Tomas Sven Jaehnig (Independent Director)
• Mr. Lin Kuo Wei

In particular, Mr. Morisshima Kenji is GM of Dream Off-Asia Co., Ltd and GM of World Creation JSC; Mr. Tomas Sven Jaehnig is Chairman of Indoba – GmbH – Dresden; Mr. Lin Kuo Wei is GM of DWS Star Bridge Co., Ltd.

Supervisory Board:

• Mr. Nguyen Viet Cuong
• Mr. Nguyen Dang Hai
• Ms. Huynh Thi Kim Tuyen