Thanh Cong Textile Garment Joint Stock Company is seeking shareholder approval for its upcoming project, with a planned investment of up to VND 1,732 billion. The project, known as Thanh Cong Tower, has faced legal hurdles since its inception in 2014, with a series of increases in its investment capital. The current investment amount stands at over USD 70.5 million.
Thanh Cong Tower, located in Tan Phu District, Ho Chi Minh City, is a real estate venture by TC Tower Company Limited, a wholly-owned subsidiary of Thanh Cong Textile. The project has a land area of 9,898 square meters and is expected to receive a construction permit soon, as the company navigates legal complexities with the support of partners and a more relaxed regulatory environment in the city.
In the second quarter of 2024, Thanh Cong Textile appointed Mr. Han Kwang Taek as the Strategic Director and Representative of the capital contribution in TC Tower Company Limited. The company also completed the acquisition of SY Vina Textile Garment Company Limited, expanding its textile business and acquiring a dyeing license.
As of the first seven months of 2024, the company has achieved impressive financial results, with a revenue of nearly VND 2,300 billion and an after-tax profit of over VND 176 billion, surpassing its business plan. The company’s stock price, TCM, currently hovers around VND 46,000 per share, reflecting a 24% increase from the beginning of the year.
[Chart showing the stock price movement of TCM from the beginning of 2024 to the present]
For further information, please refer to the Vietstock news article by The Manh.
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Images:
 Headquarters of Thanh Cong Textile in Tan Phu District, Ho Chi Minh City
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A Leading Financial Institution’s Strategic Move: Unveiling the New Headquarters at the Tower of Success, Cau Giay District
With a formidable investment of 40 million USD, the renowned Thang Cong Tower stands tall as a testament to the prowess of the Thang Cong Group. This impressive structure commenced operations in 2020, marking a significant milestone for the group and solidifying its presence in the industry.
