Hanoi Financial Investment Joint Stock Company (Hafi) was just recently established but has already affirmed its important role in the economy. After one year of operation, Hafi has achieved satisfactory results. Vietnam Business Forum reporter Huong Thom interviewed Mr Nguyen Le Truong, Chairman cum General Director of HAFI, about its business results, activities and plans.
Could you let the Vietnam Business Forum readers know about the formation and development of Hanoi Financial Investment Joint Stock Company?
Hanoi Financial Investment Joint Stock Company was established on February 2, 2007, its founding shareholders are prestigious individuals who have worked for big financial and credit institutions such as: Bank for Investment and Development of Vietnam, Techcombank, Asia Commercial Joint Stock Bank; Vietcombank, PetroVietnam. The company’s target is: "HAFI aims to become an investment enterprise with high efficiency, maximizing investors’ wealth.” Since establishment, we have gained some good business results, specifically: establishing three affiliates, namely HAFI Human Resources Development and Training-Consulting Co., Ltd, ELLISHA Vietnam Joint Stock Company, and Le Quy Don Business Administration Junior College; Conclusion of strategic partner agreements with AL - MUMTAZ (UAE) Group, EVAGOR (Germany) Group and MIRAE FIBER (Korea) Group on investment consulting for these groups in Vietnam and in negotiation for attracting investment from these partners to HAFI as strategic shareholders; ROE for 2007 was over 10 per cent. These results prove that HAFI always makes its highest efforts to achieve the set target.
Could you tell me what short-term and long-term business strategies does HAFI use to maximize investors’ wealth?
To gain the target “Maximizing investors’ wealth", we have built up a development strategy until 2015. Specifically, Hafi set up an investment portfolio with high profitability through the advice of our professional analysts with experience in major domestic and overseas financial institutions.
Besides developing such services as financial consulting, investment consulting and acceptance of investment trust as a basic core of sustainable development for the Company, we also focus on other services such as legal advisory, trade promotion, project valuation, and supply of information and data.
Especially from now until end of Quarter I of 2009, ELLISHA VIETNAM JSC will list on the securities transaction centre in order to develop and attract capital as well as attract interest from investors. In the long term, HAFI will become a multi-field financial investment corporation. However, in the coming time, we set the target of establishing financial units like securities, management fund, and an auditing company to set the foundation of the Company. At present, we are negotiating with experienced counterparts to carry out the investment and establishment of these units mentioned above. In the long term, the establishment and development of these units will bring the highest benefit to investors as well as HAFI’s shareholders. Furthermore, we are also interested in other fields like real estate and minerals. Currently, HAFI is carrying out negotiation to buy a real estate company in Ho Chi Minh City and a mineral company in Bac Kan . We hope that, the two companies will achieve considerable business results and facilitate the shareholders of these two units.
To achieve the targets, will you be ready to cope with the fierce competition in the financial market in the coming years?
We are always aware that for development, we have to cope with fierce competition of domestic and foreign financial companies, especially now as Vietnam is undergoing integration, competition in human sources, finance sources, and experienced, quality staff is a serious issue for newly established enterprises like us.
So what are HAFI’s solutions to the competition and development?
We affirm that at present, we are competing and gradually confirming our position in the financial market. The service products of HAFI in the coming time will bring the best results for customers because our staff are all experienced, creative, and well adapted to a dynamic and professional working environment. Products of investment trust will create big capital mobilization channels for member enterprises of HAFI to develop, benefiting customers and HAFI itself. Our strategy is to cooperate with domestic and foreign counterparts who have financial potential and stable experience for mutual development. Currently, we are a member of most occupational associations of Vietnam like VCCI, VAFI and Vietnam young enterprise association. Through these associations, we want to further cooperate with domestic enterprises to develop for the common target, mutual benefits.
Is HAFI’s ambition too high to achieve while the Management Board of HAFI are all young?
It is true that HAFI’s management are young, but this is not the weak point for us. Our decisive staff are all professional, experienced, and have worked in important position of big financial - credit institutions in our country and in the world. Ambition can be too high if plans are not prepared carefully, but at HAFI, we are confident we have chosen the right way and we have great support from the seniors in finance.
Together with development strategy, marketing strategy is also an important part of creating the image of an enterprise in the eyes of investors and the public, so how does HAFI prepare for this work?
Being a financial company, image creation strategy is very important. We clearly define our strategy as using high product and service quality, for the best results for clients and investors. At present, we are building a professional marketing staff to link Hafi with its clients and investors.
We are considering selecting a marketing advisory organization which is famous and experienced with broad knowledge of the special sector of the company in foreign countries. It is estimated that in the 1st quarter of 2008, we will officially declare this partner.
Could you please describe the specific business plan of HAFI in 2008?
In 2008, HAFI will focus on improving financial services such as financial consulting and investment consulting, especially we will strongly develop investment entrustment nationwide. HAFI considers investment entrustment a major factor in developing its services. As for investment projects, HAFI will carry out two projects in the 2nd quarter of 2008: setting up a blanket, bedspread, pillow and buffer production plant, establishing Le Quy Don Business Administration College and completing procedures for building a 30-floor trade centre in Quang Ninh. As for capital mobilization, at present, we are preparing to list on Hanoi Securities Trading Centre and increase capital to VND100 billion, HAFI is also carrying out the promotion on establishing a Securities Company and management fund in 2008.
Presently, we are completing final works to buy a real estate company in Ho Chi Minh City, which we believe will bring common benefits to HAFI and shareholders in the near future.
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