TTC Land’s objective in 2020: Consolidate in parallel with Develop

On January 13th, 2020, at TTC headquarter building, Saigon Thuong Tin Real Estate Joint Stock Company – TTC Land held a conference to review the activities in 2019 and deploy missions and plans in 2020.

The objective of the conference is evaluating the business results, the direction, administration and organization of implementing missions, removing difficulties and obstacles in 2019, based on which the company will set up objectives, solutions to promote advantages and improve existing problems in order to reach target and complete plans of the real estate corporation in 2020. 

At the conference, leaders from corporation and member companies did focus on discussing and assessing business results in 2019, analyzing the difficulties, obstacles and solutions in the main subjects: project development, market research, cost management, personnel structure, quality assurance of project progress, completion of legal procedures for real estate investment projects in the coming period.

According to the 2019 Income Statement presented by Mr. Bui Tien Thang - Vice Chairman of TTC Land’s BOD, the situation of the real estate market in Ho Chi Minh City in 2019 is very difficult, accordingly, in the first 10 months of 2019, in Ho Chi Minh City there were only 1 project being approved for investment and 47 eligible projects for sales in the future, with 23,485 apartments, which is down 14.1% compared to 2018.

Mr. Bui Tien Thang - Vice Chairman of the TTC Land’s Board of Directors reported the activities in 2019

In the context of common difficult situation, TTC Land has actively implemented many solutions to restructure businesses, actively approached to global capital resources, and complied with the plan set out by the Board of Directors previously. As a result, profit before tax (consolidated) in 2019 is estimated at VND 345 billion, reaching 100% of the plan. 

Regarding of operation orientation in 2020, Mr. Nguyen Dang Thanh - Chairman of TTC Land emphasized that: in 2020, TTC Land will focus on both strengthening and developing for TTC Land to develop sustainably and endurably.

Accordingly, the objectives of strengthening the company will be deployed into specific groups of solutions:

1. Restructuring cost and cost management to control efficiently

2. Restructuring capital sources and managing cash flow and liquidity

3. Restructuring efficiency of using capital, investment portfolio and optimizing tax works

4. Restructuring ways of business administration, revenue management

5. Restructuring ways of PR and IR

6. Restructuring the employee management, KPI policy, enhancing competencies

With the development objective, the company will deploy the specific solution groups:

1. Focus thoroughly on the legal works of the project

2. Focus on strengthening the capacity of project development (design, estimation, project management) and business organization

3. Focus on professionalizing investment analysis, M&A

4. Focusing on taking advantages of the investment value of the current technology system, considering investing in the Digital Transformation Strategy

5. Focus on timing to equitize subsidiaries

6. Focusing on expanding both domestic and international cooperation, seeking and selecting appropriate strategic partners.

Mr. Nguyen Dang Thanh - Chairman of the Board of Directors of TTC Land presented the orientation of the company in 2020

At the Conference, Mr. Dang Van Thanh - Chairman of TTC Group highly appreciated the efforts of the Board of Directors as well as the company's employees. At the same time, he also pointed out the deficiencies and remaining issues that need to be improved to archive targets.

Mr. Dang Van Thanh - Chairman of TTC Group made a speech at the Conference

On this occasion, at the conference, the Board of Directors also honored and rewarded the employees who have made positive contributions and successfully completed their missions in 2019.

Reward excellent employees

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