TTC Land estimates the achievement of a 106 % profit target in 2021 with the goal of speeding up operations and integrating the system in 2022

On January 13, 2022, Saigon Thuong Tin Real Estate Joint Stock Company - TTC Land (Stock code: SCR) hold a conference at the TTC’s headquarter building to recap operations in 2021 and deploy missions and plans for 2022.

The conference aims to assess business performance, execution, organizing the implementation of missions, resolving difficulties and obstacles in 2021. On that basis, the board will set goals and solutions to promote advantages, overcome shortcomings, and implement the company's mission and plans in 2022.

At the conference, The Board of Management and members focused on discussing and evaluating business performance in 2021, analyzing difficulties, problems, and solutions in major aspects such as project development, businesses, market research, cost management, personnel structure, operational model restructuring, project quality assurance, and completion of legal formalities for the upcoming real estate investment projects.

According to the 2021 performance report presented by Ms. Pham Thi Khue - Deputy General Director of TTC Land, the real estate market was significantly impacted in 2021 due to the outbreak of the Covid pandemic. Especially in the second and third quarter, trading activity was very quiet. As a result, a series of projects were forced to suspend construction in order to complete investment formalities, which narrowed down market supply. It is estimated that the number of real estate transactions and supply will only increase by around 84 % compared to 2020.

Ms. Pham Thi Khue – Deputy General Director of TTC Land reported on company performance in 2021

In the context of 2021 with many challenges, TTC Land quickly oriented and focused on a clear business plan, combined with a stable land fund that helps the company achieve impressive growth in most sectors complying with the strategic direction of 2021, which is considered as the breakthrough year of the growth period 2021-2025.

For business activities, the real estate market was almost "frozen" with 3 months of social distancing during this year's fourth pandemic outbreak in the third quarter alone, however, the company flexibly established several suitable sales programs for products including land plots Tan Van, Jamona Heights; promoted retail brokerage; conducted M&A projects in key areas where observing economic development and having connecting traffic infrastructure of Ho Chi Minh City and surroundings. In particular, the average occupancy rate of the commercial real estate segment is 71%.

As a consequence of achieved business results, the share price of SCR was 21,350 VND/share as of December 31, 2021 (an increase of approximately 2.5 times compared to the beginning of the year), and market capitalization also increased significantly, reaching VND 8,059 billion, equivalent to a +144 % increase up to the start of 2021 (in the same period, the VN-Index achieved a growth rate of 37 %). Meanwhile, profit before tax is estimated to be VND 241 billion in 2021, representing 106 % of the year's target.

The fast growth rate of SCR shares partially demonstrates investors' optimistic expectations for TTC Land's future development potential.

The following reports and presentations were also approved at the conference: Internal audit report in 2021 and Operational direction in 2022; Discourse on TTC Land's development orientation on land-fund; Discourse on TTC Land's culture from the perspective of Human Resource Management discussed by Leaders of Divisions, Departments, and Boards.

In terms of land fund development orientation, TTC Land is currently owning several projects in Ho Chi Minh City and other adjacent areas by the end of 2021. TTC Land continues to seek new projects in satellite urban areas around Ho Chi Minh City, such as Dong Nai and Long An, which have strong infrastructure investments and focus on clean land funds with transparency for M&A.

Mr. Vo Thanh Lam, Director of Project Investment Division, presented the land fund's development strategy

TTC Land's Vice Chairman of the Board of Directors and General Director, Vo Quoc Khanh, emphasized that the company's priorities in 2022 will be project development and strengthening in finance and accounting, restructuring the operating model; human resource development; driving sales while also deploying and accelerating the application of information technology systems in administration and operations, project schedule management, customer service, and so on.

In terms of project development, TTC Land set a goal to continue executing and completing legal formalities for projects such as Panomax River Villa, Charmington Tan Son Nhat, Charmington Dragonic, and others in 2022, on the other hand, also finishing the transfer process for projects that do not align with the company's orientation.

In terms of business operations, the company focuses on promoting sales activities of projects including Panomax River Villa, Selavia, Jamona Heights, Jamona Luxury Home, etc; and increasing the occupancy rate of commercial floors for Belleza, TTC Plaza Duc Trong projects. TTC Land will also actively get involved in the retail brokerage business in order to increase revenue.

Mr. Vo Quoc Khanh, Vice Chairman of the Board of Directors and General Director of TTC Land, presented the company's operational strategy for 2022.

Presenting at the conference, Mr. Dang Van Thanh, Chairman of TTC Group, complimented the efforts of the Board of Directors as well as the company's employees. At the same time, he was also pointing out shortcomings and remaining concerns that must be resolved in order to complete the assigned targets.

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

On this occasion, the Board of Directors honored and recognized senior employees, individuals, and collectives who actively contributed to and successfully completed their assigned obligations in 2021.