Coteccons (CTD) holds nearly VND 7,800 billion in bank deposits yet still has over VND 4,000 billion in short-term loans; Deputy CFO Nguyen Hong Son says this builds the company's profile in financial markets and supports a balanced capital structure of about 30% short-term and 60-70% long-term funding. Chairman Bolat Duisenov said the VND 526 billion debt owed by Tan Hoang Minh Group has been agreed to be repaid in cash, but is not yet in next year's business plan. In Q1 of fiscal 2026-2027, Coteccons booked revenue of VND 11,270 billion (27% of the annual plan) and profit of VND 306 billion; the full-year target is VND 42,000 billion in revenue and VND 1,050 billion in after-tax profit.
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Original headline: Sếp Coteccons lý giải việc gửi ngân hàng 7.800 tỷ đồng nhưng vẫn đi vay tiền
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Related tickers and likely impact
CTD
▼ Likely negativeCOTECCONS
Relevance: medium
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Construction & Materials |
| Industry | Heavy Construction |
| Market cap | 7,380 bn VND |
| P/E | 9.4 |
| P/B | 0.76 |
| Close on 10/20/2026 | 66.00 |
| Change that session | +4.43% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Coteccons chairman updates on VND 526 billion debt owed by Tan Hoang Minh
At Coteccons' 2026 AGM, chairman Bolat Duisenov said the company has reached an agreement with Tan Hoang Minh to settle the roughly VND 526 billion debt in cash. Coteccons will record the amount once payment is received and has not included it in next year's business plan. On about VND 1,400 billion in bad-debt provisions, Deputy Finance Director Nguyen Hong Son said a dedicated recovery team will keep pursuing these debts over the coming years. For fiscal 2027, the company targets consolidated revenue of VND 42,000 billion and after-tax profit of VND 1,050 billion, up 22% and 34% respectively from fiscal 2026. In Q1 of fiscal 2027, it posted VND 11,270 billion in revenue and VND 306 billion in after-tax profit, while new contract value fell 25% year on year to VND 14,519 billion.
- Holding nearly VND 7,800 billion in cash yet borrowing over VND 4,000 billion: What does Coteccons say about 'keeping money stashed away'?
At Coteccons' (HoSE: CTD) 2026 annual general meeting, a shareholder questioned why the company keeps nearly VND 7,800 billion in cash and deposits while still borrowing over VND 4,000 billion in short-term loans. Deputy CFO Nguyễn Hồng Sơn said the company aims for a safer capital structure, combining short-term loans with VND 1,400 billion in bonds and long-term bank loans, raising the long-term capital share to about 30% and then 60-70%, while building a transparent financial profile to raise capital when needed. On foreign ownership, Coteccons has completed raising the cap to 50% and expects to reach 100% in 2026. For fiscal 2026, net revenue reached VND 34,340 billion (up 38%), after-tax profit VND 788 billion (up 73%), and backlog about VND 70,000 billion.
- Coteccons shifts growth focus as construction sector gains major rivals
Coteccons (CTD) views the entry of VinCons (Vingroup) and Tân Minh Nhân (Sun Group) as a force raising industry standards, and its chairman Bolat Duisenov prefers not to compare the company with other contractors. Instead, management focuses on three questions: how to become investors' first choice, how to attract and retain talent, and how to diversify revenue. In fiscal 2026, net revenue rose 38% to VND 34,340 billion and after-tax profit rose 73% to VND 788 billion, while backlog reached a record VND 70,000 billion. The company targets revenue of VND 42,000 billion and profit of VND 1,050 billion for fiscal 2027, although new contracts signed in Q1 of fiscal 2027 totaled VND 14,519 billion, down year on year, as it tightens client and project selection. Bolat said the company can sustain 20-30% growth in the coming years and is shifting its focus from volume to efficiency.
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At the annual general meeting on October 20, Coteccons (HoSE: CTD) set fiscal 2027 targets of VND 42,000 billion in revenue and VND 1,050 billion in after-tax profit, and said it is considering expanding into residential construction for individual customers (B2C). In fiscal 2026, net revenue reached VND 34,340 billion (up 38%, 115% of plan) and after-tax profit VND 788 billion (up 73%); new contract wins totaled VND 60,307 billion and backlog was about VND 70,000 billion. In the first quarter of the new fiscal year, the company booked revenue of VND 11,270 billion and profit of VND 306 billion, but new contract value of VND 14,519 billion was lower than a year earlier; the company said it is tightening criteria for selecting clients and projects. Coteccons is also working with Microsoft, is expected to become a strategic partner of Workday, and targets raising its ROE from 10% to 15-18% by 2030.
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- Coteccons Chairman's Notable Move
Coteccons Chairman Bolat Duisenov has registered to buy 350,000 CTD shares for investment, with trades planned between October 26 and November 23, 2026. He currently holds nearly 1.8 million shares (1.57% of charter capital), which would rise to 1.88% if the full purchase is completed. The move follows the company's annual general meeting on October 20, where Coteccons approved a fiscal 2027 plan targeting consolidated revenue of VND 42,000 billion (up 22%) and after-tax profit of VND 1,050 billion (up over 30%). For fiscal 2026, the company reported net revenue of VND 34,340 billion and after-tax profit of VND 788 billion, while the first quarter of fiscal 2027 is estimated to have reached 27% of revenue and 29% of profit targets for the year. Shareholders also approved a 25% cash dividend, totaling nearly VND 280 billion.
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