Construction Corporation No. 1 (CC1) recently updated its submission for the annual general meeting of shareholders later this month, which includes changes to the list of candidates for the board of directors for the 2026-2031 term.

Initially, the company proposed re-electing Tran Huu Phong as a board member. However, the updated submission replaces Phong with Vo Quoc Khanh. Khanh is currently the general director of CC1 Holdings Joint Stock Company, an entity that holds a 10% stake in CC1. From 2020 to 2024, he served as general director and a board member of TTC Land, the real estate arm of Thanh Thanh Cong Group (TTC). He also held the position of deputy general director at TTC.

Vo Quoc Khanh at a CC1 Holdings event, where he serves as general director, in 1/2025. *Photo: Company website*

CC1 plans to elect 5 board members this term, including one independent director. The four other candidates are Phan Huu Duy Quoc (current chairman), Nguyen Van Ngoc (vice chairman), Le Bao Anh (general director), and Nguyen Thai Phien. Phien is the only candidate without prior involvement in CC1-related companies. Previously, Phien was the corporate finance director at Novaland and deputy general director of Novagroup, before managing an investment consulting firm.

CC1 primarily operates in the construction and installation of civil, industrial, infrastructure, and energy projects. The company has participated in major projects such as the Long Thanh International Airport passenger terminal, Tan Son Nhat Airport Terminal 3, Na Duong 2 and Quang Trach 1 thermal power plants, and the Bien Hoa - Vung Tau expressway.

CC1 aims for consolidated revenue exceeding 18,600 billion VND this year, 1,5 times higher than the same period last year. Pre-tax profit is projected to reach 492 billion VND, an 82% increase from the previous year. The leadership expects large-scale projects such as Cat Lai Bridge, Long Hung Bridge, and Ring Road 4 in the Capital Region to contribute to revenue and profit soon. Participation in metro projects will also boost revenue, increase contract value, and reduce reliance on traditional construction segments as urban infrastructure investment demand grows.

The value of contracts carried over from this year onwards is approximately 42,500 billion VND. "This helps ensure our revenue and profit plans for the coming years," CC1's leadership stated in the annual meeting document. One of CC1's long-term goals is to achieve revenue exceeding one billion USD. The company also considers expanding investment, construction, and business activities into certain foreign markets, but states it will proceed cautiously and ensure financial security.

Phuong Dong