DIC Corp, owned by Mr. Nguyen Thien Tuan: A tycoon with vast land holdings but volatile stock market.

By November 2017, the Ministry of Construction had divested its entire stake of over 118 million DIG shares through order matching on the stock exchange, equivalent to over 49.6%, in just a few minutes, generating approximately 2,400 billion VND, thereby transforming DIG into a private company.

DIG possesses the advantage of clean land in prime locations, with many large-scale projects such as: Chi Linh Urban Area in Vung Tau City, Dai Phuoc Eco-tourism Urban Area in Nhon Trach - Dong Nai, Nam Vinh Yen New Urban Area in Vinh Phuc, Long Tan Tourism Urban Area in Dong Nai, North Vung Tau New Urban Area...

At its 2024 annual general meeting, DIG announced its plans to borrow additional funds and raise capital to implement the Cap Saint Jacques Complex project - phases 2 & 3 in Vung Tau, and invest in the DIC Star Vi Thanh hotel and conference center in Hau Giang, the Lam Ha Centre Point residential area in Ha Nam ... while also paying off the principal and interest on bonds issued in 2021.

DIG shares experience significant fluctuations.

Not only is DIG famous for owning a massive land bank spread across the country, but it is also considered a "super stock" with very high volatility.

While the state divested its stake in DIG, with "half the company" being traded in a matter of minutes, the following months saw DIG consistently attract investor interest, with share prices reaching hundreds of thousands of dong per share before plummeting sharply. The capital increase issuance also garnered significant attention.

During the stock market boom at the end of 2021, DIG, along with a few other real estate stocks, became a sensation and the focus of discussions on forums, Zalo groups, Facebook groups, etc., with "unbelievable" prices.

The well-known investor Nguyen Manh Tuan (formerly a member of the Board of Directors of Licogi 14, known by the nickname "Teacher A7") once suggested that DIG could reach 500,000 VND/share.

DIG also attracted many large investors such as Him Lam, owned by Mr. Duong Cong Minh. At the end of 2020, Him Lam Land Real Estate Business Joint Stock Company (Him Lam Land) – a key company in the Him Lam ecosystem – became one of the main shareholders of DIC Corp, holding over 21%. In early 2022, DIG shares surged to 100,000 VND/share. Him Lam Land gradually divested its stake, and by April 2022, it held only over 4%.

After a period of rapid growth, DIG plummeted, losing 90% of its peak; by the end of 2022 and the beginning of 2023, it sometimes fell to 12,000-13,000 VND/share.

In the first four months of 2024, DIG recovered quite strongly, at one point reaching nearly 34,000 VND/share, but recently declined and as of August 9th was only 23,150 VND/share.

Despite the price drop, DIC Corp remains an attractive company for investors. The company has a very large number of small shareholders, at one point reaching 80,000, with a high volume of short-term trading.

Mr. Tran Qui Thanh - former CEO, founder and legal representative of Tan Hiep Phat Group - is also a shareholder of DIG. Mr. Thanh was absent from the recent Annual General Meeting due to legal troubles and did not authorize anyone to attend on his behalf.

DIC Corp is known as a real estate group with a huge land bank across the country, but its business operations have not been very smooth. In the second quarter of 2024, DIC recorded a sharp increase in revenue, five times higher than the same period last year, thanks to the transfer of apartments and unfinished houses in one project. Pre-tax profit increased tenfold compared to the same period, reaching nearly 169 billion VND... However, DIC Corp's operating cash flow was heavily negative, amounting to thousands of billions of VND.

For the first six months of the year, DIG's pre-tax profit was nearly 48 billion VND, a 60% decrease compared to the same period last year.

In 2024, DIG set ambitious targets with revenue of VND 2,300 billion and pre-tax profit of VND 1,010 billion, representing increases of 1.7 and 6 times respectively compared to 2023. However, DIG suffered a record loss in the first quarter of the year.

In 2023, DIG also set very high business targets but subsequently fell short of those targets. In 2022, DIG achieved only 10.5% of its profit target. The company proposed to shareholders not to pay dividends (the planned dividend for 2022 was 22-25%) and in 2023, the expected dividend level is between 8% and 15%.

DIC Corp's leadership remains quite confident in its high profit plan this year, with projected product transfers at several projects, such as Dai Phuoc (Dong Nai), DIC Nam Vinh Yen City (Vinh Phuc), DIC Victory City (Hau Giang), Lam Ha Center Point (Ha Nam), Gateway Vung Tau, etc.

Regarding financial health, by the end of the second quarter, DIG recorded an increase in assets of nearly 10% to over VND 18,400 billion, but inventory and short-term receivables increased quite significantly, to VND 7,655 billion and VND 5,845 billion respectively.

By the end of June, DIG had total deposits and cash equivalents of nearly VND 3,000 billion. Total debt increased significantly from VND 8,934 billion at the beginning of the year to VND 10,555 billion, including VND 2,159 billion in short-term loans and financial leases and VND 2,166 billion in long-term loans and financial leases. The company's equity increased slightly to VND 7,889 billion.

DIG currently has a market capitalization of approximately VND 14,120 billion. Mr. Tuan's family previously held a large amount of DIG shares, but a significant portion was sold off through forced liquidation in 2022. In mid-2023, Mr. Tuan stated that he held a total of approximately 30% of the capital in DIC Corp.

According to the management report, by the end of 2023, Mr. Tuan held 7.68% of DIG, his wife held 0.16%; and their two children, Nguyen Hung Cuong and Nguyen Thi Thanh Huyen, held 10.16% and 2.98% respectively.

DIC Corp Chairman Nguyen Thien Tuan Passes Away : The General Corporation for Investment and Construction Development (DIC Corp, ticker DIG) announced that Mr. Nguyen Thien Tuan – Chairman of the Board of Directors – passed away on August 10th, at the age of 68.