After more than 10 years of building civil, traffic and irrigation projects, Tien Trien Construction Joint Stock Company has made significant contributions to the infrastructure development of Nam Dinh province. Set up in 2001 as a small business, the company has grown in each phase of business and integration. Currently, Tien Trien is a holding group with 26 member companies and five affiliated construction teams. The total capital of the holding group has amounted VND52 billion. The company’s business operations have covered 12 provinces and cities.
Construction quality is No. 1
With the business motto “All for product quality and for the sustainable development, the company always puts a premium on the progress and quality of construction. As a construction firm, Tien Trien has to upgrade its modern equipment and machinery like excavators, loaders, cranes and scaffolding, and renovate corporate governance. It also hires equipment from other units to save money from investing in expensive equipment while the quality and expertise are used at reasonable prices.
Hence, Tien Trien is asserting its position not only in Nam Dinh province but also in 12 other provinces and cities in the country. The company rakes in annual revenues of VND150 - 200 billion. Each year, it completes and hands over many large-scale projects to customers, like schools, roads and irrigation systems.
Modern administration model
The company made a turning point when it transformed to a holding model, helping mobilise its resources and strengthen its capacity. This solution enabled Tien Trien to get through tough times and expand its scale. To date, it has 26 member companies.
General Director Hoang Tien Trien said business association is now an inevitable trend. This approach enables a company to take advantage of brand names, helps small businesses strengthen capacity, widen access to bank loans and increase the possibility of winning big projects. Tien Trien Joint Stock Company operates a holding company where the parent company operates independently and contributes shares in its subsidiaries.
Autonomy breeds dynamism and innovation in the member companies. The corporate capacity is expanded as they can access capital sources and enlarge the market more easily. Thus, over the past years, Tien Trien maintains steady annual growth of 15 - 20 percent. Its revenues reached VND250 billion and employed 500 workers in 2011. The firm is striving to expand its operations in other provinces. Under the current tough context, it still ensures good operations and has won contracts worth over VND250 billion for 2012.
General Director Hoang Tien Trien said construction companies will continue to encounter difficulties in 2012; thus, Tien Trien will improve its own capacity, carefully select projects to ensure investment recovery, and enhance corporate governance to lay the groundwork for sustainable development.
Trong Dat
Vietnamese
