HCMC – Thu Duc Housing Development Corporation (HOSE: TDH) today, September 12, approved a plan to establish a food wholesale subsidiary with total charter capital of VND10 billion.
The new company, to be tentatively named Thu Duc House Food JSC, will be 50% owned by TDH.
The move follows TDH’s plan announced at its June annual meeting to enter the distribution sector for imported fruit, using existing land and cold storage facilities at the Thu Duc agricultural wholesale market.
Chairman Tran Thanh Vinh said the firm is in negotiations with partners in the U.S., Australia and New Zealand.
TDH earlier expanded into household goods distribution, supplying kitchen appliances and ventilation products from brands including Bosch, Panasonic and Toshiba.
Vinh said the distribution segment is intended to generate stable cash flow rather than high profits. He estimated revenue at over VND100 billion this year, rising to VND600-700 billion in 2026.
Closing the trading session today, TDH edged up 0.22% to VND4,610, with a trading volume of 68,600 shares.
Vietnam’s main stock index also closed higher today, buoyed by gains in several large-cap stocks and strong investor interest in steelmaker HPG.
The VN-Index rose 9.51 points, or 0.57%, to 1,667.26, with 252 winners and 84 losers on the Hochiminh Stock Exchange. Trading volume reached over 1.11 billion shares, worth VND33.71 trillion, down 12% in volume and 8% in value compared to the previous session. Block deals accounted for 115 million shares valued at VND3.85 trillion.
Bluechips were the main driver of the rally. VIC inched up 1.3% to VND137,800, VNM rose 3.3% to VND63,200, and MSN advanced 4.9% to VND86,000. Steelmaker HPG increased 2.9% to VND30,000, its highest level in nearly four years. HPG was also the most actively traded stock on the southern exchange with more than 104.6 million shares changing hands.
On the downside, VPB and SSB lost just over 2%, while BCM, VRE, SSI, and SHB slipped between 1% and 1.4%.
Mid- and small-cap stocks in the real estate, construction, industrial park, and public investment sectors continued to attract strong demand. CSM, KSB, TDC, and IJC all hit their upper limits, with IJC alone seeing 20.3 million shares traded.
On the Hanoi Stock Exchange, the HNX-Index increased 2.33 points, or 0.85%, to 276.51. It saw 117 gainers and 50 decliners, with trading volume exceeding 92.8 million shares worth VND2.3 trillion.
