Tin Nghia: 20 years of establishment and development

(ĐN) Tin Nghia company (Timexco) was established in 1989 with an initial capital of VND15 million. After 20 years of establishment and development, Timexco has overcome challenges and become one of Vietnam’s leading companies with chartered capital of VND1,500 billion.

In 2007, the company was ranked among the country’s top 200 biggest enterprises by UNDP (United Nations Development Programme)

Timexco over the recent years recorded an annual average export value of more than $40 million, contributed VND40-50 billion to the state budget and earned a profit of nearly VND50 billion.

In 2003, the company’s turnover was more than 1,000 billion and the figure increased to VND2,000 billion in 2005.

To achieve these results, Tin Nghia in the past time has made reasonable efforts to diversify its scope of business operations. Currently, the company is infrastructure developer of nine industrial parks, investor of 9 residential area projects totaling VND17,000 billion and 4 tourism projects worth hundreds of million of USD in Bien Hoa, Nhon Trach, Ninh Thuan and Lam Dong. Recently, Nhon Trach Investment J.S Co., Timexco’s member, has started construction of Eastern Saigon new urban area project worth an estimated US$6 billion in Nhon Trach district.

Tin Nghia will focus efforts to develop a long-term development strategy with the aim of becoming a strong economic group in future, according to the company’s general director Quach Van Duc.

On the occasion of its 20^th anniversary, Tin Nghia handed over Thanh Nghia nursery school to Long Thanh district. The one-floor school is built on an area of 15,272 sq.m in An Phuoc commune with total cost of over VND20 billion. It meets national standards and will be home to 500 local children.

Earlier, Nhon Nghia Nursery School in Nhon Trach district’s Phu Hoi commune has been built with an investment of over VND14 billion, funded by the company.

During the past one year, Tin Nghia company’s employees have contributed more than VND2 billion to donate four ambulance cars to remote areas of Tan Phu, Vinh Cuu, Nhon Trach and Cam My districts.

Reported by X.P