Transport and Industry Development Investment Joint Stock Company (Tracodi)

TRACODI names new Chairman and CEO


October 9, 2017, the Board of Directors of Transport and Industry Development Investment JSC (TRACODI – HOSE: TCD) has approved Mr. Nguyen Ho Nam as new Chairman who replaces Mr. Dang Trung Kien following his appointment as Vice Chairman. Also, Mr. Nguyen Thanh Hung is named Chief Executive Officer.

TRACODI was previously the Transport and Industry Development Investment Corporation, under management of the Ministry of Transportation and Post, which was established in 1990. In 2013, the Company started the equitization and then SCIC officially withdrew its capital in 2015. Going through 26 years of development, the Company has constantly focused on sustainable development, cooperation with its partners and investors, and strengthening its brand “TRACODI” in the market. The Company’s strategy is to become one of leading companies in terms of sizing and efficiency in Vietnam focusing on areas: infrastructure construction and project, material mining, and trading and export of agricultural products.

On May 26, 2017, TRACODI has been officially listed on Ho Chi Minh Stock Exchange with its stock code of TCD. In 2017, TCD has planned to achieve VND 879 billion in consolidated revenue and VND 63,67 billion in profit after tax respectively, and expected to pay annual dividend from 10-12%. In Q3/2017, the consolidated revenue and profit before tax is predicted to reach VND 297 billion and VND 26,4 billion respectively, up over 45% compared with Q1 and Q2.  In the first 9 months of 2017, TCD is expected to earn VND 672 billion and over VND 62 billion in accumulated revenue and profit before tax respectively which meeting 83% of the plan. In the remaining months of 2017, TCD is predicted to exceed its 2017 plan with the significant revenue gaining from 830 BOT project which will be done in the end of this year. In addition, TCD is expected to earn large revenue contributed by its subsidiary Antraco via launching new artificial sand product, which helping Antraco has almost met its 2017 plan within first nine months of 2017.

The appointment of Mr. Nguyen Thanh Hung as new CEO to execute TCD’s strategic direction focusing on infrastructure construction sector by implementing key projects invested by Bamboo Capital JSC (HOSE: BCG) such as: solar projects in Long An province other provinces; social housing project and other projects in Long An province.