Sao Mai An Giang Among Best-performing Businesses in Vietnam

11:44:01 PM | 11/7/2012

Sao Mai Investment & Construction Corporation is a Top 50 performer in Vietnam, according to a survey conducted by the Investment Bridge Magazine in collaboration with Thien Viet Securities Joint Stock Company, VIG Investment Fund. The survey is conducted by experienced experts, with some from Havard and Morgan Stanley Investment Ban (US).
A ceremony that announced and presented the Top 50 companies was held at New World Hotel, Ho Chi Minh City in mid-June 6. This event aimed to praise good-performing businesses and affirm their valuable contributions to the country’s socioeconomic development in the recent time.
For Sao Mai An Giang, the Top 50 Award is the recognition of its achievements and the encouragement for renewed efforts. This is also a motivation for other enterprises to overcome difficulties. This event is more meaningful when bankrupt enterprises are on the rise in Vietnam, forcing the Government and the National Assembly to discuss business bailout solutions.
Sao Mai Investment & Construction Corporation is the unique business in An Giang province and one of three businesses in the Mekong Delta region (together with Hau Giang Pharmaceutical Joint Stock Company - DHG, and Vinh Hoan Joint Stock Company - VHC, both are listed on the Hochiminh Stock Exchange) to include in the list of Top 50 companies. Listed on the Hochiminh Stock Exchange (HOSE) with the ticker symbol ASM, Sao Mai An Giang secured the 21st place on the Top 50 list.
The ranking list was based on surveys, analyses and ratings to pick out 50 companies out of 701 listed companies in Vietnam, using two methods of quantitative and qualitative; four criteria: revenue, profit, return on equity and return on average capital in three straight years from 2009 to 2011; and face to face interviews with business leaders. Within three years in the survey, revenue and profit growths were 46 percent and 44 percent, respectively. Return on equity and return on average capital climbed 27 percent and 19 percent, respectively. These figures objectively reflected the image of Sao Mai An Giang in one of the worst phases of Vietnamese and global economies.
Annual growth indicators of the company affirmed the absolute rightness of strategies and solutions to its real estate business. The company continued carrying out key projects like the US$15 million fish oil refining facility - the most modern of its kind in Asia - in Vam Cong Industrial Park. This key project is expected to start operations in September 2012. The facility has a designed capacity of processing 200 tonnes of crude fat a day. Its output products include liquid oil and dense oil. Liquid oil will be distributed to the domestic market in the form of high-grade oil and nutrition oil for children, and a small part to domestic and international pharmaceutical companies. Dense oil is processed into soft shortening, mainly for export. This is a high value raw material for upmarket cake and chocolate industries. When the oil refinery is in stable operation, it will generate more than VND2,000 billion of revenue each year.
The company now has real estate projects in 12 provinces and cities, particularly Ho Chi Minh City, Hanoi, Vung Tau, Tien Giang, Ben Tre, Hoa Binh, Kien Giang, An Giang, Dong Thap and Thanh Hoa, with a combined investment capital of VND10,000 billion. Its projects are serving the society.
In the export seafood processing industry, International Development and Investment Corporation (IDI) - a member company of Sao Mai An Giang - has conquered 100 markets in the world, making Sao Mai An Giang the sixth largest seafood exporter in the country. To take a further step, Sao Mai Investment & Construction Corporation set up Sao Mai Beijing Co., Ltd to distribute IDI seafood in China, a market of more than 1 billion consumers.
From what it has done in the past years, together with its strategic plans for the next period, Sao Mai Investment & Construction Corporation is deserved to be a Top 50 companies as chosen by the Organizing Committee.
Speaking of this event, Mr Le Thanh Thuan, President of Sao Mai An Giang, said: “In any circumstance, either difficult or favourable, response strategy is the most important. It shows the quality and experience of business leaders. All is represented in business performances.” Once again, the Top 50 Award is not everything but it affirms sound solutions adopted by the company’s leaders in the three years from 2009 to 2011. It also encourages the corporation to maintain corporate and governance advantages as well as draw more experience lessons to minimise risks in next development strategies.
Quoc Hung