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Thuduc House says it has received notice of the appellate administrative judgment from the Ho Chi Minh City Tax Department following the ruling of the city’s High Court. Accordingly, the tax authority has ended all administrative enforcement measures against the company and notified a tax debt related to late payment of more than VND 365 billion. The press release dated April 21 states that implementing this judgment directly removes obstacles to transfers and mortgages of assets owned by Thuduc House. The management calls this a legal milestone helping to resolve long-standing issues. Thuduc House, founded in 1990, operates primarily in real estate with annual revenue in the trillions of VND. The company previously had a period in electronics component manufacturing and was subject to tax enforcement related to export irregularities during 2017-2019. However, the company appealed this decision and the appellate court ruled in its favor in September 2025. Last year, Thuduc House reported revenue of VND 253 billion and net profit after tax of VND 108 billion, nearly doubling the year’s plan of VND 66 billion and marking the highest figure in six years. The move from loss to profit was mainly due to reversing over VND 91 billion of late-payment interest after the court ruling; the company also earned income from restructuring more than 10-year-old debts, reduced unnecessary costs, and did not need to set aside provisions. After clearing the legal backlog, Thuduc House restarted key real estate projects and expanded into distribution and food. This year the company targets revenue around VND 250 billion and net profit after tax of about VND 38 billion. In upcoming annual shareholder meetings, management says the plan is to implement existing projects and land holdings with a safety-first approach. The company also plans to develop additional small-scale commercial-service land, industrial parks, and industrial clusters over the next five years.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
