Mr Vu Dinh do's portrait as the new chairman of the board of directors of Tasco's "BOT boss"

DNHN - Mr Vu Dinh Do was born in 1982 in Bac Giang and graduated from the University of Bac Giang with a bachelor's degree in economics. He is an expert in corporate finance, accounting and auditing, corporate governance, and investment management and was recently elected to the Tasco Board of Directors for the period 2022–2027, succeeding Mr Ho Viet Ha.

Mr Vu Dinh Do received 100% of the votes cast by the Tasco Board of Directors after the end of the company's annual meeting on April 29. Tasco's Board of Directors will remain a member for the duration of the following term.

Mr Vu Dinh Do has roughly three years of auditing experience with KPMG Vietnam and one year with KPMG Singapore. Between 2007 and 2008, he worked at Saigon Securities Joint Stock Company as a Project Manager for the Derivatives and M&A Department. He was the Director of Research, Analysis, and Investment Division at VNDIRECT Securities JSC from 2009 until 2011. He served as Deputy General Director of Maritime Bank Securities Joint Stock Company from 2011 to 2012.

In 2012, the founders of Dong Nai Plastic JSC started divesting and selling their interests. Mr Vu Dinh Do took advantage of the chance and was elected to the company's board of directors. Mr Vu Dinh Do was appointed General Director of this firm in 2014 and was appointed Chairman of the DNP Board of Directors a year later.

Mr Do now serves as Chairman of the Board of Directors of Dong Nai Plastic Joint Stock Company (HNX: DNP), as a member of the Board of Directors of DNP Water Industry Investment Joint Stock Company, and in key roles at Tan Phu Joint Stock Company- Nam La Hydropower Joint Stock Company, Vietnam

Tasco is a market leader in the development and investment in transportation infrastructure and real estate. This business is dubbed the "BOT boss" because of its extensive project portfolio in the Northern area. Throughout the nation, several non-stop toll collecting projects (VETC) are being implemented. Additionally, Tasco possesses substantial real estate holdings.

Tasco also approved the greatest restructuring program in the company's history at its annual general meeting of shareholders. Tasco wants to be the best company in Vietnam when it comes to investing, building infrastructure, and transportation.

Tasco had sales of 873.6 billion VND and a profit after tax of 44.15 billion VND in 2021, up 15% and 118 per cent from the previous year, respectively.

In which revenue from real estate operations exceeded the target by 11% and revenue from road toll collection exceeded the target by 89%.

Tasco's outstanding financial results are a consequence of the company's unexpected profit in the fourth quarter of 2021. Specifically, the company declared a consolidated profit after tax of about 176.8 billion VND in this quarter, compared to a loss of 152 billion VND at the same time in 2020.

The company lost money in the preceding three quarters, amassing a nine-month aggregate loss of more than VND 146.4 billion (according to its report).

As of December 31, 2021, the company's total assets were at VND 10,815.4 billion, up 6.5 per cent from 2020; equity stood at VND 3,807.5 billion, up 28.6 per cent from 2020; and profit after tax stood at VND 44.2 billion, up 118.1 per cent from 2020.

Tasco will issue a maximum of 116.2 million shares to existing shareholders at 10,000 VND per share, with a 3:1 exercise ratio. Tasco will give VND 550 billion to Tasco Land Co., Ltd. and VND 612 billion to an insurance company with the money from this deal.

Simultaneously, Tasco intends to issue an additional 543.8 million shares for exchange with 21 SVC Holdings stockholders. Tasco will thereafter acquire sole ownership of SVC Holdings.

Tasco intends to almost quadruple revenue in the following three years, from 11,400 billion dongs in 2022 to 48,600 billion dongs in 2024. During this time, net profit will grow from 250 billion dongs to 1,350 billion dongs.

Profitability improved significantly in the first quarter of 2022. Tasco's revenue totalled 240 billion dongs during the period, essentially unchanged from the same period the previous year when revenue from toll collection reached more than 179 billion dongs or roughly 75% of total income.

However, HUT's financial income exceeded 126 billion dongs in the quarter, an increase of around 124 billion dongs over the same time last year. As a consequence, Tasco's net profit from business operations increased to VND 114 billion, a significant improvement over the previous year's positive loss of VND 21 billion. Tasco suffered a loss of 24.5 billion dongs in the first quarter of 2021.

This business's growth plan for the next five years is based on the "Platform of Life" ecosystem, which consists of three pillars: infrastructure for vehicle services, real estate, and insurance.

Additionally, Tasco has several real estate projects in Hanoi, including Forest My Dinh in Nam Tu Liem; 48 Tran Duy Hung, Hanoi; Tran Quoc Hoan, Cau Giay, Hanoi; and the Tasco office complex on Duong Dinh Nghe Street, Hanoi.

D.Hong