DTD [NOT RATED] - IP land sales to continue driving earnings in 2023 - Company Visit Note
  • 2023-04-13T00:00:00
  • Company Research

- Thanh Dat Investment Development JSC (HNX: DTD) is one of the leading construction companies in Ha Nam Province. DTD also has businesses in residential & industrial real estate development and other services. 

- Although DTD’s original business is construction, industrial park (IP) land sales contributed 60% of 2022 revenue, followed by oil & gas sales (15%), construction (12%) and others (13%).

- In 2023, we forecast IP land sales will continue driving DTD’s earnings — especially as Ha Nam Province is becoming a favorable investment destination in northern Vietnam.  

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