Thien Long Group (TLG) recently announced a resolution to invest USD 2.8 million in the Philippines market to establish the FlexOffice Philippines brand. Thien Long has prepared all the necessary funds and will not require additional loans.

The company plans to establish an economic organization or invest capital and acquire shares to participate in management. The goal is to import and distribute stationery and other products in the Philippines.

Mr. Co Gia Tho, Chairman of the Board of Directors of Thien Long Group. Photo: Thanh Nguyen

Mr. Co Gia Tho, Chairman of the Board of Directors of Thien Long Group. Photo: Thanh Nguyen

This investment plan in a new market is part of the strategy shared by Mr. Co Gia Tho, Chairman of TLG's Board of Directors, with VnExpress in mid-April. He noted that the pen and stationery industry in Southeast Asia has been shrinking in recent years, with businesses choosing to shift to larger and more profitable sectors. Meanwhile, the overseas market has a growth rate of 35% annually, presenting significant opportunities for Thien Long.

Currently, exports contribute 20% to the company's revenue. Over the past decade, revenue from foreign markets has seen double-digit growth for many years. In 2024, Thien Long recorded revenue exceeding one trillion VND for the first time. Management aims to increase this ratio in the coming years by applying a "glocalization" strategy, leveraging domestic strengths and applying them internationally.

Recently, Thien Long has taken several steps to expand its core business. At the end of May, through its subsidiary Tan Luc Mien Nam, TLG announced its investment in and ownership of Phuong Nam Cultural Joint Stock Company (PNC), which owns a chain of nearly 50 bookstores under the same name. Management stated that the investment in PNC is a strategic move in their goal of developing new product lines, particularly toys and lifestyle goods, which they have been pursuing in recent years.

This year, Thien Long targets net revenue of 4,200 billion VND, a 12% increase compared to 2024. Profit is projected at 450 billion VND, a slight decrease of nearly 3%. Management expects this M&A deal to drive growth and create new opportunities.

In the first six months of the year, the pen and stationery company achieved revenue of over 2,040 billion VND, a slight increase of 1.2% compared to the same period last year. However, due to rising sales costs, after-tax profit decreased by over 9% to over 300 billion VND. They have achieved nearly half of their revenue target but have already reached two-thirds of their profit plan for the entire year.

Tat Dat