Portrait of the new General Director of Coteccons- Mr Vo Hoang Lam

DNHN - Since August 5, 2022, Mr Vo Hoang Lam, who is already a member of the Board of Directors and the Deputy General Director, will be the General Director of Coteccons Construction Joint Stock Company.

Mr Vo Hoang Lam was born in 1978. He has been with Coteccons since its early days. Mr Vo Hoang Lam has nearly 17 years of experience working, managing, and running businesses. He has held many important positions at Coteccons, from Chief, Division Manager, and Project Manager in Chi Minh City to Chief, Division Manager, and Project Manager. In 2019, he was the Deputy General Director of Unicons Construction Investment Company Limited, which is a Coteccons company. On November 1, 2020, he became the General Director of Unicons.

He is also the Deputy General Director of Coteccons, and it was expected that he would be elected to the Coteccons Board of Directors starting in April 2022.

With more than 15 years of experience at Coteccons-Unicons, he used to be the Director of Economic Division, Commander, and Project Manager for several large projects, such as the MGM Grand Ho Tram, D' Capitale, Viettel Headquarters, etc.

The projects that Mr Vo Hoang Lam is in charge of are done well, are of high quality, and are very well-liked by the Investor. As a member of Unicons' Board of Directors, Mr Vo Hoang Lam will use his experience in project management and the use of advanced construction methods to help the Coteccons and Unicons brands maintain their reputation with customers and partners in the industry, both nationally and internationally.

He has worked with a lot of big investors and partners at home and abroad. He is known as one of the key leaders who helped Coteccons pass important milestones on its way to becoming the biggest company in Viet Nam.

Mr Lam, along with the Board of Management and the Board of Directors, will continue to use Coteccons's strengths to implement new ideas with the help of top experts from both inside and outside the country.

During the ceremony for the new General Director, Mr Bolat Duisenov, Chairman of the Board of Directors of Coteccons, said, "During the vacancy of the position of General Director, Coteccons has been under a lot of pressure from public opinion and shareholders to invest and even suffer disadvantages when bidding for projects. However, the company is not in a hurry, and the management apparatus is still working steadily."

"I'll say it again: the most important thing to Coteccons is people. So, for an organization that has been around for 18 years and has a lot of cultures, it is important to carefully choose a person who fits all of the requirements. I believe that, when fully staffed, 4 unique and different values, also known as Coteccons Inside, will keep the company's reputation and brand strength and help it grow ", emphasized Mr Bolat Duisenov.

Concerning Coteccons, this unit's net sales went up by 29 per cent in the second quarter of this year, reaching nearly VND 3,281 billion. But the profit after taxes was almost 24 billion dongs less than the same time last quarter, which was almost 45 billion dongs.

The company lost money because its administrative costs went up by 100%. The Group has to set aside VND 242 billion for bad debts from the D'Capitale project (investor Tan Hoang Minh), which adds up to a VND 484 billion loan balance.

After 6 months, the company made 5,193 billion dongs in sales and 5.4 billion dongs after taxes. Even though income stayed the same, profit dropped by 95% during the same period. EPS is equal to 73 VND. Compared to the plan for the year, the company made 34% of the revenue and 27% of the profit.

In 6 months, Coteccons' business cash flow was negative by 1,298 billion dongs, but it was positive by 220 billion dongs during the same time. Negative cash flow because the amount of money owed to the company went up by VND 898 billion and the amount of money in stock went up by VND 414 billion.

In particular, the company increased its investment in trading securities by 219 billion dongs, but it didn't have this investment in the same period, and the first quarter report didn't even mention it. This unit also put 219 billion dongs into FPT, MWG, TCB, and a few other companies. The amount of money set aside to invest is 20 billion dongs.

At the end of trading on August 5, CTD was worth 63,200 dongs per share, which is 42% less than it was at the beginning of the year. With nearly 74 million shares in circulation, Coteccons is worth VND 4,600 billion right now.

Hai Anh (t/h)