Thanh Thanh Cong Group (TTC) achieved better-than-expected results in the first six months of the year and plans to undertake measures to enable it to reach new heights in all of its segments in the long run, its chairman said.
Dang Van Thanh, TTC Group’ s chairman, spoke at the firm's first investors conference themed "Opportunities arising in the new normalcy” in HCM City on July 15.
Established in 1979, TTC is currently one of the top corporations in Viet Nam, with its business spanning six segments: agriculture, energy, real estate, industrial real estate, hospitality and education, with over 120 affiliated companies operating in Viet Nam, Laos, Cambodia, and Singapore, including four listed on HoSE, he said.
According to Thanh, TTC currently has over 66,000ha of sugarcane in Viet Nam, Laos and Cambodia and holds a dominant market share of 46 per cent of the Vietnamese sugar market, providing more than 1 million tonnes of finished sugar per year.
In its sustainable development strategy for the period 2021-2025, TTC plans to expand its material area in Australia by 20,000ha, bringing its total material area globally to nearly 90,000ha, which will enable it to provide a total of 2 million tonnes of sugar and reach revenue of US$1.5 billion in the fiscal year 2024-2025.
In the field of energy, Gia Lai Electricity JSC (GEC), a member of TTC Group, has inaugurated the first two solar power plants in Viet Nam in Thua Thien Hue and Gia Lai, and now owns 21 hydroelectric, solar and wind power plants with total capacity of nearly 600 MWp.
In its plan for 2021-2025 with a vision to 2030, GEC aims to maintain an average growth rate of 15 per cent per year and expand cooperation with international organisations and funds to develop renewable energy, according to Diep Thi Phuong Thao, TTC Group’s deputy CEO.
Regarding the real estate segment, TTC has a land portfolio of approximately 280ha in Da Nang, Phu Quoc, and Da Lat that is suitable for developing civil, commercial and tourism real estate. The company plans to expand its presence in provinces with high urbanisation rates such as Dong Nai, Lam Dong, Long An and the Mekong Delta region.
In the field of industrial real estate, Thanh Thanh Cong Industrial Real Estate owns more than 1,000ha of industrial parks and industrial cluster in Tay Ninh and Long An provinces, over 52ha of warehouses and logistics systems in HCM City, Tay Ninh, Long An, Binh Duong and Ba Ria-Vung Tau and aims to become one of the leading companies in the field of industrial real estate and domestic logistics.
In the hospitality field, TTC owns nearly 20 destinations in many key tourism provinces and cities of the country and one in Siem Reap (Cambodia).
In mid-2022, TTC completed the acquisition of Yersin Da Lat University and Yersin High School, marking its first step to re-enter the education sector, a portfolio that TTC had previously invested in. The group plans to expand its school system to other provinces and cities across the country.
The group also revealed its plan to enter the medical sector by 2025.
Its net revenue and profit are expected to increase from VND 33.77 trillion ($1.44 billion) and VND1.8 trillion ($76.77 million) in 2021 to VND68.9 trillion ($2.94 billion) and VND 9.4 trillion ($400.89 million) in 2025, with return on equity of 17 per cent and return on asset at 6.4 per cent. — VNS