The Deo Ca Group optimizes management and maximizes profits

By Nga Nguyen|21/06/2023 21:16

On June 20, 2023, in Ho Chi Minh City, Deo Ca Corporation held its annual general meeting of shareholders for the year 2023. At the meeting, the Board of Directors presented a report on the company's business performance in 2022 and the plan for 2023, which showed positive developments.

The meeting was attended by various partners of the Deo Ca Group in different fields. In terms of investment and construction, there were companies such as Truong Son Construction Corporation, KKS Group, CII, Tasco, T&T, Trung Thanh, Dacinco, TCE, Port Coast, 368, Trung Chinh, as well as universities like the University of Transport and Communications 2, National Economics University, and Ho Chi Minh City University of Technology.

The scenery of the General Assembly - Photo by Doan Tuan Linh

Foreign partners included PTL Holding Group from Laos, Power China Group from China, Index Strategy Company from Japan, the 2nd China Railway Bureau, and financial institutions such as Vietinbank, TPBank, VPBank, BIDV, OCB, SHB, Sacombank, VCBS, ARA Investment Fund, ASSCs Audit Firm, PWC, among others.

Optimizing management, maximizing profits

The consolidated financial statements of the Deo Ca Group recorded positive indicators. The net revenue reached VND 4,184 billion, an increase of VND 331 billion (+9%) compared to the same period last year"

In 2022, several major projects undertaken by Deo Ca were completed, ensuring progress and quality. Notable projects included the Love Bridge, the Quang Ninh Undersea Tunnel, the Trung Luong - My Thuan Expressway, and the Thung Thi Tunnel. Other ongoing projects, such as the Truong Vinh Tunnel, the Cam Lam - Vinh Hao Expressway, and the Prenn Pass, were progressing according to schedule.

The business operations remained stable, and the consolidated after-tax profit for 2022 reached VND 419 billion, a slight increase of 2.2% compared to the same period, corresponding to a profit margin of 10%.

During the discussions at the meeting, Chairman of the Board of Directors, Ho Minh Hoang, affirmed that Deo Ca always fulfilled its responsibility towards shareholders who trusted and invested in the company. The capital was used efficiently, costs were tightly controlled, and profit was optimized. The production and business processes were transparent.

Regarding the employees, the company ensured their rights and welfare. Especially during the challenging period of the Covid-19 pandemic, the company did not lay off workers or reduce their salaries. Some employees became shareholders of Deo Ca, enjoying stable income from salaries, bonuses, dividends, and actively participating in the Party's activities, contributing to the strengthening of the Party's presence within the company.

"We understand that there will still be many difficulties and challenges ahead. The numbers in the financial report are just a basic measure signaling optimism and favorable conditions that will come to the company when we proactively seek opportunities, manage risks," emphasized Ho Minh Hoang".

Mr. Ho Minh Hoang - Chairman of the Board of Deo Ca Group, delivered a speech at the company's annual general meeting in 2023 - Photo by Doan Tuan Linh

The Chairman of the Deo Ca Group's Board of Directors outlined the management orientation, which includes maintaining the position as the leading infrastructure investor in Vietnam, investing in projects that contribute to society and bring optimal benefits, undertaking large-scale public investment projects as the general contractor, and managing the operation of public investment projects.

To implement this strategy, the Exchange - Management mechanism is applied to optimize management, reduce costs, and develop an ecosystem around the aforementioned production and business activities. All projects undertaken by Deo Ca are transparent, and community monitoring activities are conducted to control and prevent negative risks and resolve obstacles.

The organization of the Party within the enterprise has also actively contributed to the economic management activities. The resolutions of the Party Committee always combine the Party's guidelines on economic-social development with the development orientation of the enterprise. The development of the Party organization is extensively organized in management-operating units and project management boards.

Starting in 2023 with many major contracts

Deo Ca Corporation continues to be trusted and designated by the Government, ministries, and sectors as the general contractor for the construction of the 88km Quang Ngai - Hoai Nhon expressway with a total investment of 20,469 billion VND. This is the largest project among the 12 component projects of the North-South expressway phase 2. Furthermore, Deo Ca leads the consortium in implementing the XL1 package contract for the Chí Thạnh - Vân Phong section with a value of over 4,300 billion VND.

The consolidated revenue plan for 2023 is expected to reach over 6,700 billion VND, an increase of 50% compared to 2022. With this production and business plan, Deo Ca Corporation plans to distribute dividends at a maximum of 80% of post-tax profits.

In the period 2023-2025, the Corporation focuses on its core activities of construction and approaches and participates in bidding for airport, railway, and several other highway projects in different localities. The total investment for these projects is around 26,000 billion VND. Specifically, the Corporation plans to participate in construction contracts worth approximately 11,500 billion VND from late 2023 to 2025.

Parallel to expanding the scale of construction activities, Deo Ca actively promotes investment in transportation infrastructure projects through public-private partnerships and continues to advance the implementation of PPP projects under study in Lang Son, Cao Bang, Lam Dong, Dien Bien, Ho Chi Minh City, and Tien Giang.

Training is always a prioritized activity. In 2023, the Corporation plans to recruit more than 2,300 employees, organize the EMBA class 2 for mid-level personnel, provide advanced training for the project technical team, and conduct internal specialized seminars with lectures from industry experts. Furthermore, officials will be sent to study in developed countries to enhance their management capacity in the digital technology environment.

The investment strategy for high-speed rail and metro systems in Hanoi and Ho Chi Minh City has been determined for the 2025-2030 phase. These are high-value transportation infrastructure projects, with advanced technology and are part of Deo Ca's strategy. To prepare for these opportunities, Deo Ca has collaborated with experienced foreign partners such as Sany and Power China to develop human resources, prepare modern equipment for construction, and have sufficient organizational capacity to participate in bidding. Additionally, research on optimal production models from companies in Japan, South Korea, and China will be further intensified to ensure the efficiency of investment and construction, thereby ensuring the interests of the enterprise and shareholders.

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The Deo Ca Group optimizes management and maximizes profits