TRANSPORT CONSTRUCTION MECHANICAL JSC (TRACOMECO): Quietly Rising in Vietnam’s Commercial Vehicle Sector

TRANSPORT CONSTRUCTION MECHANICAL JOINT STOCK COMPANY, more commonly known as TRACOMECO, has spent over two decades building its name in Vietnam’s automotive and machinery sectors. While less visible than foreign giants or national brands like THACO or VinFast, TRACOMECO has carved out a solid space in the manufacturing and assembly of transport equipment, operating quietly yet efficiently from its headquarters in Thu Duc City, Ho Chi Minh City.

Founded in 2003 and operating under business ID 0300477989, TRACOMECO is structured as a joint stock company with a charter capital of USD 3.53 million, fully paid up. The company is led by Mr. Dao Viet Phuong, who serves as both Chairman and General Director. He is supported by a small leadership team including Deputy General Director Mr. Bui Anh Tuan and Chief Accountant Ms. Vo Thi Hoan. The firm currently employs around 650 staff across its facilities.

TRACOMECO’s core business is assembling and trading automobiles, with additional registered activities ranging from industrial machinery installation, auto parts manufacturing, civil construction, to specialized cleaning services—a level of diversification that reflects the company’s desire to adapt to changing market demands.

From a financial standpoint, 2023 was a year of notable progress. TRACOMECO generated USD 63.68 million in sales, up a remarkable 51.12% year-over-year, and achieved a net profit of USD 702,867, which more than doubled its profit from the previous year. However, not all indicators point upward. The company’s total assets slightly decreased to USD 51.44 million, and its working capital fell sharply to just USD 418,781, a drop of nearly 90%. While profitability is on the rise, short-term liquidity is a concern.

Equity remained relatively stable at USD 18.94 million, indicating a firm capital base. Ownership is fragmented, with 17.84% held by state capital, and the rest by a mix of minor shareholders and private investors. The shareholding data has not been fully updated in public records, suggesting a lack of transparency in capital structure disclosures—an issue for institutional partners or investors requiring clear governance.

Despite its modest scale, TRACOMECO is showing encouraging momentum in both revenue and operational stability. Its role in the domestic commercial vehicle sector is supported by demand for transport solutions across industrial zones and infrastructure projects. However, the company will need to improve cash flow management and update corporate governance disclosures to align with the standards expected of high-performing joint stock companies.

For business partners, suppliers, or financiers considering engagement with TRACOMECO, VANGUARD BUSINESS INFORMATION LLC (VBI) recommends obtaining a comprehensive company verification report. With detailed insights into TRACOMECO’s credit risk profile, financial history, and legal compliance, VBI ensures secure and transparent decision-making.

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