The cradle of talent for the construction industry, a series of “gods” came out in a row to build nearly a dozen large companies
As the number 1 construction brand in Vietnam early established in the early 20th century, Coteccons (CTD) is observed to be playing the role of a “cradle” producing a series of emerging brands led by experienced personnel. industry experience.
Specifically, after following in the footsteps of the head, Mr. Nguyen Ba Duong, withdrew from CTD from 2020, the series of “godsmen” in turn had their own properties, moreover, they were all emerging but prestigious and soon to be established brands. certain position in the market.
This makes us think of PayPal Mafia – the richest “tech gang” in Silicon Valley – which also produces many billionaires, millionaires and famous companies. It is known that PayPal is a payment services company IPO in 2002 and later acquired by eBay. It is worth mentioning that the members of the “PayPal Mafia” group later went separate and all became founders or investors in today’s most valuable technology companies such as SpaceX, Airbnb, Stripe, Uber …
Back to Coteccons, at the beginning of 2020, there was a big change in the conflict of interests with a large group of shareholders, fluctuations in satellites as well as a major change in key leadership. Notably, Ricons immediately announced its complete separation from Coteccons and built the Ricons Group ecosystem including: Ricons, Riland, Rihomes, Rilex, Risa, Ricommerce, QuiHub with the goal of completing the closed value chain of the construction industry. build.
At the 2021 Annual General Meeting of Shareholders, Ricons officially elected Mr. Nguyen Sy Cong to the position of Chairman of the Board of Directors. It is known that Mr. Cong is one of the effective hands of Mr. Nguyen Ba Duong. In 2017, Mr. Cong was appointed CEO of Coteccons, by 2020, under pressure from a large group of shareholders, he resigned from Coteccons in August. Ricons also elected Mr. Tran Quang Quan as CEO. Mr. Quan is the former Chairman of Ricons and was among the last war generals to withdraw from Coteccons after Kusto took power.
In terms of business, Ricons matured very quickly with a healthy financial structure without debt. The company is also the most successful company among the old CTD ecosystem satellites, when the revenue excluding the transaction with CTD recorded a 7fold increase since 2015, reaching over VND 8,000 billion in 2021. With a distinct ecology, Ricons Group does not hide its ambition to be in the Top 3 industries.
The peak in October 2020, after Coteccons officially changed owners, a series of “public servants” also started to own their own property. Notably, there is a new brand appearing on the market – WealthCons. On the Website, WealthCons introduces itself as founded by a team of founders, experienced executives at the leading large construction enterprises in Vietnam. The company also affirmed its vision to become the leading prestigious construction general contractor in Vietnam and the region.
WealthCons was established in 2015 with the original name BCons, in which Mr. Le Mien Thuy holds the position of Chairman of the Board of Directors and Mr. Nguyen Luong Tri Quang – takes the position of CEO of WealthCons.
In which, Mr. Mien Thuy is one of the few key leaders who have been with CTD since the early years of 2001, concurrently holding the positions of Deputy General Director of Unicons and Director of CTD’s Construction Division. Later, he joined the Board of Directors and was the General Director at Ricons. In 2020, when Ricons announced its separation from CTD, it was Mr. Thuy who took the reins, declaring that Ricons’ own strength and direction would be completely unaffected by CTD.
And Mr. Nguyen Luong Tri Quang is also the key recipient of the old CTD, holding the position of Project Manager – the backbone of the construction company. In addition, a series of other leaders on the Board of Directors and Board of Directors at WealthCons all come from CTD with an average of over 10 years of experience, such as Mr. Lai Tan Hung, Mr. Vo Hoai Nam…
In terms of operations, WealthCons specializes in building high-rise buildings, towers, infrastructure and industry. Some typical projects participating in the bidding by WealthCons include LIM Tower (Ton Duc Thang, District 1), Viettel Tower (CMT8, District 3), The One (super project in the center of District 1), Sunrise Riverside, Vinhomes Central Park…
Or at Viteccons – The unit was established in 2009 in Ho Chi Minh City with the representative cum General Director Mr. Phan Huy Vinh – who has 25 years of experience in the profession with the position of former Deputy General Director of Cotecconsa member of the Ricons Board of Directors, General Director of Phu Hung Gia – the forerunner of Ricons, Project Director of Cotec – the predecessor of CTD…
Along with Mr. Vinh, a series of former CTD senior leaders are also joining Viteccons’ executive board such as Mr. Nguyen Cong Dinh – former Deputy General Director, Project Director, Head of Representative Office (Phu Hung Gia), Director Investment Division – CTD Technical Division…, Mr. Lu Nguyen Hai – used to be a senior manager at CTD, Phu Hung Gia Company (Ricons)… in the role of Director of Ricons M&E division, Head of Department MEP, Commander in Chief.
Currently, Viteccons’ project portfolio spans a variety of fields from housing, commerce – offices, hotels, resorts, education, healthcare to industry and infrastructure. Typical projects include GO! Shopping Center, Big C supermarket, Vinaseed factory….
Mr. Phan Huy Vinh – CEO of Vietccons, former Deputy General Director of CTD, Member of the Board of Directors of Ricons, General Director of Phu Hung Gia – the predecessor of Ricons, Project Director of Cotec – the predecessor of CTD.
As for the leader, Mr. Nguyen Ba Duong, was silent for a while after the incident. By early 2021, Mr. Duong reappeared in the ceremony to announce the business plan of two construction enterprises, Newtecons Construction Investment JSC (formerly FDC Construction) and SOL Materials and Solutions JSC (E&C).
In particular, Newtecons was established in 2003, specializing in construction, starting with small and medium-sized projects. According to information from Newtecons, the Company has worked with other prestigious contractors to construct and build iconic works such as Landmark 81 – the tallest building in Vietnam; construction of Casino Nam Hoi An – the project with the largest investment capital in Quang Nam province. A series of other famous projects such as Vinhomes Times City – Park Hill 5, Vinhomes Golden River – Aqua Tower 2…
Recently, Newtecons continuously “substituted” CTD and won bids for projects in many prime locations such as Masterise Homes luxury apartment complex (front of Nguyen Huu Canh, District 1), Masteri Waterfront (Hanoi), Spirit of Saigon…
With SOL (E&C), Mr. Duong plays the role of Founding Chairman, Board of Directors, Managers and staff representatives. During the Signing Ceremony, Founder Chairman Nguyen Ba Duong shared about the potential and opportunities that SOL E&C has to outperform many other companies in the construction market such as a team of experienced personnel directly participating in many projects. The most difficult and classiest project in Vietnam’s construction industry, the prestige of the Board of Directors with the Investor, the companionship of companies in the New Ecosystem…
In terms of business, even though it was just established, the company’s revenue increased relatively well, averaging 58.5%/year. In particular, in the period 2017-2018, the growth was outstanding with 76%, the corresponding revenue increased from 232 billion to 408 billion.
The year 2020 marks a new development of SOL, the Company officially became the General Contractor of SOL E&C Construction with a contract value of more than 2,000 billion VND. As of December 23, 2020, SOL E&C has increased its capital to VND 305 billion, which is entirely domestic private capital.
A big brand that is also “born” from the old CTD cannot fail to mention is CentralCons. Even at the peak of development, the conflict in the superstructure was pushed up in 2017. Mr. Tran Quang Tuan – former Deputy General Director of Coteccons – separated with the new brand CentralCons.
Established in June 2017 with a charter capital of VND 100 billion, CentralCons quickly reached VND 2,500 billion in revenue in the following year and operated profitably. In which, Mr. Tuan and another former person at CTD – Mr. Vu Duc Tai – are two key members of CentralCons founding shareholder group, contributing 81% and 10% of charter capital, respectively.
With extensive experience and relationships built at CTD during his 14 years of companionship, Mr. Tuan’s CentralCons received a series of bids from well-known companies and has also been a loyal customer of CTD for many years, not to mention. VinGroup, Phat Dat, Masterise Group, Sonkim Land, Novaland…
Up to now, CentralCons introduces itself as Vietnam’s leading General Contractor and MEPF, Asia’s Excellent Enterprise in APEC 2021 with more than 108 construction projects, backlog sales of 17,284 billion VND. The company also has thousands of engineers, architects, office workers and more than 15,000 workers operating in 50 projects, typically Masteri Central Point, Phu Lac Wind Power Plant, Vinhome Smart City ….
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
