Tan Son Nhat Terminal T3 Leaks After Heavy Rain: Which Contractor Was Named?

nhà ga t3 - Ảnh 1. — Images from a short clip showing the scene of Tan Son Nhat T3 terminal suddenly leaking water on the afternoon of May 7 spread on social networks.

Who is the contractor for the roof of Tan Son Nhat airport terminal T3?

The project to build passenger terminal T3 at Tan Son Nhat airport is invested by Vietnam Airports Corporation - JSC (ACV).

The project has a total investment of nearly 11,000 billion VND, divided into 3 packages. Of which, package 12 - construction and installation of terminal equipment - has the largest value and is implemented by a consortium of 6 contractors.

As Tuoi Tre Online reported, on May 7, Tan Son Nhat airport's T3 terminal leaked.

After the above leak incident, speaking with Tuoi Tre Online on May 9 , Mr. Nguyen Duc Toan - Deputy General Director of Hanoi Construction Corporation (Hancorp), the unit in charge of the roof contractor - spoke up to clarify the cause and how to handle it.

Mr. Toan admitted that this was an unfortunate incident that occurred at some of the connections between the panels at the base of the roof, where they meet the skylights. It was not a defect in the material or structure of the aluminum roof, but rather at the joints, where the waterproofing glue was peeled off or leaked during the finishing process.

According to him, the main reasons lie in two factors: the construction progress was rushed to meet the handover deadline, leading to a lack of time for full testing; and partly due to the fault of other construction teams moving on the roof during the finishing stage, which may have accidentally peeled off the glue at the connection points.

Immediately after recording the water seepage phenomenon, Hancorp urgently checked the entire roof system with an area of tens of thousands of square meters, re-injected glue at suspicious locations, and re-checked all gutters, drain pipes and joints.

"We will take advantage of this review to conduct a comprehensive inspection to avoid repeating the incident in future rains," said Mr. Toan.

Hancorp - how does the big company under the Ministry of Construction do business?

Hancorp is a familiar name in the construction industry. In addition to Terminal T3 - Tan Son Nhat, this contractor has participated in the construction of many large projects such as: Ministry of Public Security headquarters, Central Children's Hospital, National Convention Center, Hanoi Opera House, Long Thanh International Airport, Terminal T2 - Noi Bai International Airport...

Hancorp's charter capital by the end of 2024 is more than 1,410 billion VND. According to the shareholder list as of December 31, 2024, the Ministry of Construction holds 98.83% of Hancorp's charter capital. Since 2014, this corporation has not issued any increase in charter capital.

The Chairman of Hancorp is Mr. Dau Van Dien, and the General Director is Mr. Nguyen Do Quy. The 3 Deputy General Directors are Mr. Duong Ngoc Quang, Mr. Hoang Viet Anh, and Mr. Nguyen Duc Toan.

Regarding the financial capacity of this contractor, the balance sheet on the consolidated financial report for the first quarter of 2025 shows that total assets reached VND 6,059 billion at the end of March this year.

The above assets decreased by nearly 6% compared to the beginning of this year, mainly due to the decrease in cash, from 402 billion VND to 266 billion VND. Short-term receivables also decreased from 2,876 billion VND to 2,710 billion VND...

In the short-term receivables section, Hancorp is also having to increase provisions for doubtful debts from VND169 billion to VND184 billion after 3 months.

On the other side of the balance sheet, this contractor recorded a debt of VND4,273 billion at the end of March 2025, down more than 7% compared to the end of last year. Of which, short-term loans and financial leasing debt accounted for VND741 billion.

Regarding business situation, the financial report for the first quarter of 2025 shows that Hancorp's net revenue reached 866 billion VND, an increase of more than 60%.

However, the gross profit margin of this contractor is quite low, less than 6%. As a result, after deducting expenses and taxes, the company's net profit is 3.36 billion VND, although it has increased more than 2 times compared to the same period, it is still low when looking at the size of revenue.

Data from 2010 to present, Hancorp had a period of quite good business from 2010-2012 with regular profits of over hundreds of billions of VND, revenue reaching over 9,000 billion VND/year.

	Revenue	Profit after tax
2010	8961	530
2011	9200	287
2012	9437	32.45
2015	3846	112
2016	3884	108
2017	4636	234
2018	3708	92.9
2019	2424	93.45
2020	1991	32.85
2021	2413	35.5
2022	3217	67.3
2023	2967	50.11
2024	2597	66.47
Quarter 1-2025	866	3.36

Data: Consolidated financial statements

This may be linked to the development of Hancorp's real estate investment process. In which, the cash flow to this enterprise was mainly in the period from 2009 - 2011, which was a favorable period for the real estate market.

At this time, the company's real estate business results were good. One of Hancorp's outstanding projects in the Hanoi area was the Diplomatic Corps project.

CONG TRUNG - BINH KHANH

Source: https://tuoitre.vn/nha-ga-t3-tan-son-nhat-bi-dot-sau-mua-lon-nha-thau-nao-bi-goi-ten-20250509164549042.htm