Saigon Thuong Tin Real Estate Joint Stock Company (TTC Land, code SCR) has announced information relating to the annual general meeting of shareholders for fiscal 2023, in which, among other things, the expansion strategy for industrial and logistics real estate.
TTC Land relaunches Panomax River Villas project for sale
According to the documents of the General Meeting of Shareholders, TTC Land submitted a business plan for 2024 with revenue of VND 705 billion, up 89.9% over the same period.
To achieve the set goals, TTC Land has been implementing a specific action plan: in early 2024, TTC Land signed a Memorandum of Understanding on cooperation in implementing Aeon Mall at TTC Plaza Da Nang project with Aeon Mall Vietnam; The Panomax River Villas project (Dao Tri Street, District 7) is now restarting for sale, the project has attracted the attention of a large number of customers.
In addition, the leasing of commercial space, building operation management and green construction, TTC Land has had a stable source of income in the context of the general difficulties of the real estate market.
According to TTC Land, Vietnam's industrial real estate is having a strong attraction to foreign investors in the trend of international investment movement, and at the same time, the absorption rate of ready-built factories is forecast to continue to increase thanks to the market benefiting from the relocation of production facilities from China to Vietnam. Warehouse leasing demand will continue to be maintained by domestic consumption, Vietnam's export-oriented economy, and the growth of the logistics and e-commerce markets.
TTC Land has a strategic orientation with a vision to 2030, the Company will expand the industrial real estate and logistics real estate segments in the Southern market. This will be a resonance for TTC Land to continue to expand and develop according to the strategic cycle stably and sustainably.
In order to realize the strategy as well as the set goals, TTC Land is gradually preparing resources through high-level personnel candidates at the 2023 General Meeting of Shareholders.
Previously, on April 12, 2024, Ms. Huynh Bich Ngoc, Chairman of the Board of Directors of TTC Land, submitted her resignation with the reason of personal wishes. The Board of Directors will submit to the General Meeting of Shareholders for consideration and approval the Application of Ms. Huynh Bich Ngoc and the procedures for dismissal in accordance with the law and the Company's Charter.
Ms. Huynh Bich Ngoc has been the Chairman of the Board of Directors of TTC Land since April 25, 2022. She is currently the Standing Vice Chairman and General Director of TTC Group.
TTC Land also announced the list of candidates nominated by the group of shareholders for the position of new members of the Board of Directors, including Mr. Le Quang Vu and Mr. Pham Trung Kien. It is known that these are seasoned personnel with experience in management and administration in the fields of civil real estate and industrial real estate.
On the market, closing the trading session on April 12, SCR shares stood at the price of 7,530 VND/share.
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