Thai Son Construction Trading Co., Ltd: Prestige Helps Resolve Difficulties

4:46:06 PM | 10/5/2011

Thai Son Construction Trading Co., Ltd celebrates its 7th birthday in 2011, but this is also a tough time for Director Do The Thai. It is too easy for him to run a company only for profit, but he wants to put into practice his innovative initiatives and aspirations.
Achieving goals and aspirations
This former solider chose Dien Bien to open up his business. After 12 years working as a deputy director for Lai Chau Construction Company No. 1, he resigned in 2004 and set up Thai Son Private Enterprise with the main business of building and operating small civil and irrigation works. Initially, with total investment capital of less than VND800 million, the company only took part in small projects. In 2006, he founded Thai Son Construction and Trading Co., Ltd in Tan Thanh Ward, Dien Bien Phu City, with total registered capital of VND46 billion. Operating in Dien Bien and Lai Chau provinces, the company specialises in building houses, offices, traffic and irrigation works, operating restaurants, hotels, and trading petroleum.
As a former soldier, he understands the importance and significance of discipline; thus he puts a premium on building a healthy organisation.
The 105-man strong company has nine Party cadres. It also has the youth union, trade union and veteran union. To strengthen discipline and order, the company appoints a deputy director in charge of politics. Through these units and their operations, the company understands more about its employees.
Journey to pass through tough times
In seven years of operation, Thai Son twice was near bankruptcy. However, his enterprising policies and decisions along enabled the company to get through the tough times and grow.
Since late 2008, Thai Son entered the period of prosperity despite the global and domestic economic slowdown. The company won dozens of bids, ranging from offices and roads to lakes and irrigation systems. Its revenues amounted to VND80 billion. Average monthly income of a worker was VND4.5 million.
In 2011, the economic slowdown dragged Thai Son into dilemma. He thought a lot to find ways to lead his company to move forwards and ensure good employment for nearly 500 workers.
Eventually he found solutions by promoting the company’s internal forces and instilling a sense of responsibility in all employees. Hence, bank loans accounted for a small proportion of the company’s VND400 billion of working capital, as the majority was raised from his friends and employees in addition to the company’s owner equity.
With a good financial position and good projects, the company has managed to keep stable growth. As regards capital-troubled projects, it still tried its best to speed up the progress of construction to transfer them to investors in time. With its capacity and determination, Thai Son has overcome all difficulties and contributed to the development of the historic land of Dien Bien.
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