Why did Him Lam Land of tycoon Duong Cong Minh change its name?

Him Lam Real Estate Trading Joint Stock Company (Him Lam Land) has just announced to its partners about changing its name to Truong Son Real Estate Joint Stock Company (Truong Son Land Corporation).

The company explained that the name change is part of a brand repositioning plan and does not affect relationships, transactions, civil obligations, or the performance of contracts and agreements previously signed by the parties.

Him Lam Land was established in 2008 under the Him Lam Group of Mr. Duong Cong Minh. The company has dozens of large real estate projects in Ho Chi Minh City such as: Him Lam Riverside, Him Lam Cho Lon, Him Lam Phu An... and many projects in other provinces and cities.

The latest figures show that Him Lam Land's charter capital at the end of 2017 was VND 1,700 billion. Total assets as of December 31, 2022 recorded nearly VND 16,943 billion, down 30% compared to the beginning of the year, and liabilities of VND 14,798 billion. It is worth noting that the company has reduced its bond balance to 0.

Also in 2022, Him Lam Land's after-tax profit reached VND 2,380 billion, nearly 14 times higher than the previous year.

Mr. Duong Cong Minh is currently Chairman of the Board of Directors of Saigon Thuong Tin Commercial Joint Stock Bank ( Sacombank ).

Before leaving the position of Chairman of the Board of Directors of Him Lam Group to join Sacombank, Mr. Minh was a famous businessman in the real estate sector.

Source: https://nld.com.vn/vi-sao-him-lam-land-doi-ten-196231221140516019.htm