Over 20 years of development, all the staff of Kien Giang Trade Joint Stock Company (KTC), from generation to generation, always upholds the spirit of solidarity and devotion to development. The great unity has helped unlock potential strength and brought KTC into a new chapter with a joint stock company model and an increasingly enhanced brand position. KTC confidently asserts its core role in national commerce.
Focus on restructuring and competency
KTC, formerly known as Kien Giang Tourist - Trading Co., Ltd., was transformed into a joint stock company under Decision 1555/QD-UBND dated July 21, 2017, of the Kien Giang Provincial People’s Committee. Before going public, KTC is known as one of major corporations of Kien Giang province and a Top 500 largest business in Vietnam. Voted by VNR500, KTC is one of seven biggest rice exporters in the country. Today, KTC brand is known for its key areas such as petroleum trading, rice and canned food processing and exporting, real estate trading and financial investment among others. Previously, KTC’s key traditional goods such as rice and canned seafood were mainly for export but the company focuses on expanding domestic consumption. In petroleum trading, KTC has been a major trading partner and the sole agent of Petrolimex Vietnam in Kien Giang province, with more than 30% of the market share in the province.
Immediately after equitization, KTC focused on restructuring and prioritizing innovations in important business fields, mobilizing resources to upgrade the business and well performing its role in the country's trade network in general and in Kien Giang province in particular. The company always placed innovations in various fields such as corporate governance; applied information technology in administration, and adopted quality standards like ISO 22000: 2005 and HACCP (granted FDA certificates by leading certification agencies), KOSHER, HALAL, DOLPHIN SAFE and IFS to be qualified for export to Europe, Asia, America and Africa. KTC concentrated on improving competitiveness of core areas to build a solid foundation value of corporate culture and sustainable development. At the same time, with the concept "human resources are valuable assets of the company", KTC paid high attention to developing high-quality human resources and building a scientific working environment.
To date, after two years of equitization, KTC has continuously achieved impressive revenue, profit and export value. Specifically in 2018, the first financial year operated as a joint stock company, KTC made a revenue of over VND5,900 billion, equal to 148.2% of the full-year plan; saw a profit after tax 139% higher than the plan; export value of over US$100 million, equal to 168.6% of the plan; and paid more than VND85.6 billion of taxes to the State Budget. In 2019, KTC continued to obtain very encouraging results: Total revenue of more than VND7,100 billion, including net revenue of more than VND6,200 billion, export turnover of more than US$100 million, and payable tax of more than VND303 billion. KTC is also a pioneer in corporate social responsibility. It actively participates in local social security policy events and donated over VND1 billion a year for these meaningful activities.
Active to grasp golden opportunity
In 2020, KTC is striving to realize some important targets: Total revenue of VND7,580.032 billion, net revenue of VND6,737.502 billion and realized profit of VND30.868 billion. For the time being, although the export picture is overcast due to the global impact of the COVID-19 epidemic. KTC General Director Pham Van Hoang is still optimistic about the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU - Vietnam Free Trade Agreement (EVFTA) which are expected to boost exports of Vietnam in general and KTC in particular. With EVFTA, Vietnamese businesses, including KTC, are seeing a great opportunity to export goods to the vast EU market. For many years, KTCFOOD canned seafood has been exported to Germany, and when EVFTA officially comes into effect, import and export tariffs to this market will drop sharply. This is a great competitive advantage for KTC and Vietnamese seafood businesses. “Capturing this golden opportunity, KTC will have a change in product and market strategy in order to optimize revenue and profitability, especially with potential markets, when the agreement comes into effect. This will also be a solid foundation and a strong launching force for KTC to move faster and farther on the journey to reach the vast world,” he affirmed.
Source: Vietnam Business Forum