Former TTC Land CEO Nominated for CC1 Board of Directors

Vietnamese construction giant Tổng công ty Xây dựng số 1 (CC1) has updated its candidate list for the upcoming Board of Directors (2026-2031), announcing the nomination of Mr. Vo Quoc Khanh, former Deputy Chairman and CEO of TTC Land. Initially, CC1 proposed the re-election of Mr. Tran Huu Phong as a member of the Board of Directors. However, the updated submission replaces this position with Mr. Khanh. Khanh currently serves as the CEO of CC1 Holdings, an organization that holds a 10% stake in CC1. His experience includes serving as CEO and Board Member of TTC Land, the real estate arm of TTC Group, from 2020 to 2024, and he also held a position as Deputy CEO at TTC. CC1 plans to elect five board members during this general meeting, including one independent member. The other four candidates are Mr. Phan Huu Duy Quoc (current Chairman), Mr. Nguyen Van Ngoc (Vice Chairman), Mr. Le Bao Anh (CEO), and Mr. Nguyen Thai Phien. Mr. Phien is the only candidate without prior involvement in CC1-related companies. Previously, he was the Chief Financial Officer at Novaland and Deputy CEO of Novagroup, before managing an investment consulting firm. CC1's primary business activities involve civil, industrial, infrastructure, and energy construction. The company has participated in numerous large-scale projects, including the passenger terminal of Long Thanh International Airport, Terminal 3 of Tan Son Nhat International Airport, Na Duong 2 Thermal Power Plant, Quang Trach 1, and the Bien Hoa - Vung Tau Expressway. The company aims for consolidated revenue of over VND 18.6 trillion (approximately USD 730 million) this year, a 1.5-fold increase compared to the same period last year. Pre-tax profit is projected to reach VND 492 billion (approximately USD 19.3 million), an 82% rise from the previous year. The leadership expects large-scale projects such as Cat Lai Bridge, Long Hung Bridge, and the Hanoi Capital Region Ring Road No. 4 to contribute to revenue and profit in the near future. Involvement in metro projects is also anticipated to boost contract value and reduce reliance on traditional construction segments amidst a surge in urban infrastructure investment. Carry-over contract value from this year onwards is approximately VND 42.5 trillion (over USD 1.6 billion), which the leadership states will ensure revenue and profit plans for subsequent years. One of CC1's long-term goals is to achieve annual revenue of over USD 1 billion. The company is also considering expanding its investment, construction, and business operations into certain foreign markets, but intends to proceed with caution and ensure financial security.