Former TTC Land CEO Vo Quoc Khanh Nominated to CC1 Board for 2026-2031 Term

Overview

Construction Corporation No.1 (CC1) has updated its shareholder meeting agenda to nominate Vo Quoc Khanh, former CEO of TTC Land, to its board of directors for the 2026-2031 term. The company also set ambitious 2025 targets: consolidated revenue of over 18,600 billion VND and pre-tax profit of 492 billion VND, driven by large infrastructure projects.

Key Facts

• Vo Quoc Khanh, former CEO and board member of TTC Land (2020-2024), nominated to CC1 board for 2026-2031 term.
• Khanh currently serves as CEO of CC1 Holdings, which holds 10% of CC1’s capital.
• CC1 plans to elect 5 board members, including one independent member.
• CC1 targets 2025 consolidated revenue of over 18,600 billion VND (up ~50% YoY) and pre-tax profit of 492 billion VND (up 82% YoY).
• The company’s contract backlog stands at approximately 42,500 billion VND.
• CC1 is involved in major projects: Long Thanh airport passenger terminal, Tan Son Nhat T3 terminal, Na Duong 2 and Quang Trach 1 thermal power plants, Bien Hoa-Vung Tau expressway.
• Future projects include Cat Lai bridge, Long Hung bridge, and Ring Road 4 of the Capital region.

What Happened

Construction Corporation No.1 (CC1) has revised its shareholder meeting agenda for the upcoming annual general meeting, replacing the proposed re-election of Tran Huu Phong with the nomination of Vo Quoc Khanh to the board of directors for the 2026-2031 term. Khanh is currently CEO of CC1 Holdings, which owns 10% of CC1, and previously served as CEO and board member of TTC Land, the real estate arm of Thanh Thanh Cong Group, from 2020 to 2024.

CC1 also announced its 2025 business targets: consolidated revenue of over 18,600 billion VND (roughly 1.5x the previous year) and pre-tax profit of 492 billion VND (up 82% from 2024). The company expects large-scale infrastructure projects such as Cat Lai bridge, Long Hung bridge, and Ring Road 4 to contribute to revenue and profit in the coming period. Management highlighted a contract backlog of about 42,500 billion VND, which they believe ensures future revenue and profit streams.

Market Context

CC1 trades on the UPCOM exchange, closing at 34,000 VND on July 26, 2026. The construction sector in Vietnam is benefiting from increased public infrastructure spending, with major projects like Long Thanh airport and expressways driving demand. CC1’s revenue target implies a significant ramp-up, reflecting its involvement in these large-scale works. The nomination of a former TTC Land executive may signal closer ties to the real estate sector or a strategic pivot.

Strategic Significance

The addition of Vo Quoc Khanh to CC1’s board could bring expertise in real estate development and corporate strategy, potentially opening avenues for integrated construction and property projects. CC1’s long-term goal of exceeding $1 billion in revenue and expanding overseas suggests an ambitious growth trajectory. The company’s focus on infrastructure and energy projects aligns with Vietnam’s national development priorities, providing a stable demand base. However, execution risk remains given the scale of targets and reliance on large contracts.

What to Watch

• Shareholder vote on board nominations at the upcoming AGM (late July 2026).
• Q2 2025 earnings report to assess progress toward revenue and profit targets.
• New contract wins, particularly for Cat Lai bridge and Ring Road 4.
• Any further changes in board composition or strategic direction.
• Updates on overseas expansion plans and financial safety measures.