Illustrative photo: TIP.

Regarding the divestment plan, the Board of Directors (BOD) intends to divest the entire contributed capital at Phuoc Tan Trade and Construction JSC. TIP currently owns 40% of the charter capital in this company, equivalent to VND 280 billion.

According to TIP's BOD, the divestment aims to limit the risk of capital loss and waste, and to preserve existing investment capital. The company also proposed assigning Tin Nghia Corporation (UPCoM: TID) – TIP's parent company – to execute related procedures such as selecting a valuation agency, determining the starting price, and organizing the implementation of the divestment plan in accordance with regulations.

Phuoc Tan Trade and Construction JSC was established in 2009 and is the investor of the Phuoc Tan Residential Area Project – Phase 1, with a total area of about 35.92 hectares. According to TIP, the project is currently facing many obstacles, such as a large total investment, incomplete land allocation and land use fee determination procedures, lack of layout for the 20% land fund reserved for social housing, sales activities occurring before meeting eligibility requirements, and not yet obtaining approval from the Dong Nai Province People's Committee for an extension of the investment policy...

In addition, TIP and its subsidiary Tin Khai JSC (a subsidiary in which TIP owns 99.98% of the capital) also plan to divest capital from Olympic Coffee JSC. Specifically, TIP contributed VND 53.2 billion and Tin Khai contributed VND 60.8 billion to this enterprise.

TIP's BOD assessed that the investment in Olympic Coffee has not brought cash flow and profit efficiency. From the time of investment until now, TIP and its subsidiary have not received dividends, have not recovered their contributed capital, and have had to make a significant provision for losses on financial investments. The value of the investment is currently impaired because the business results of the investee enterprise did not meet expectations, reducing the ability to preserve capital and increasing investment risks.

According to TIP, divesting from Olympic Coffee is a solution to minimize the risk of loss and waste of capital for the company as well as its member units.

Regarding the investment plan, TIP introduced an investment policy for a transit warehouse (depot) project in the Nhon Trach Industrial Park area with a total investment of over VND 1,624 billion. This includes VND 1,526 billion of the enterprise's equity, accounting for 94% of the total capital, and 6% in loans, equivalent to VND 98 billion.

The expected payback period is 6 years and 5 months, with an internal rate of return (IRR) reaching 20.8%.

According to the enterprise, the project will be deployed under a 3-year roadmap starting from the time the investment policy is approved. In the first year, the expected investment is VND 668.9 billion; the second year is VND 588.3 billion; and the third year is VND 367.1 billion.

TIP noted that the Long Thanh – Nhon Trach area holds great development potential thanks to its connectivity advantages with Long Thanh International Airport, the seaport system, and a series of key transport infrastructure projects such as the Bien Hoa – Vung Tau expressway, Ben Luc – Long Thanh expressway, and Ho Chi Minh City Ring Road 3.

The enterprise also believes that logistics demand in Dong Nai and neighboring areas will continue to rise sharply against the backdrop of expanding industrial production and import-export activities. Meanwhile, the existing depot and inland container depot (ICD) systems are facing overloading, a lack of synchronization, and must be rearranged according to the new planning.

TIP expects to hold its 2026 Extraordinary General Meeting of Shareholders on the morning of July 10 at the company's hall in Tam Phuoc Ward, Dong Nai City.

Regarding the business situation, in the first quarter of 2026, the company recorded a total revenue of VND 66 cubic billion and a post-tax profit of VND 37 billion, up nearly 59% and 85% respectively compared to the same period last year. According to TIP's explanatory report, the profit growth was mainly driven by profits from its cooperation with Phuoc An Port Investment and Exploitation Petroleum JSC (UPCoM: PAP).

Source: https://mekongasean.vn/