Although being negatively affected by the economic slowdown, Saigon Trading Group (Satra) has still managed to sustain growth by harnessing and using the power of 70 member enterprises operating in production, trade, wholesaling, retailing, service and investment. The group has created suitable mechanisms and policies for its member companies to play their full roles. Hence, Satra has achieved successes that not all businesses could in the current tough times.
Specifically, its total revenues from goods and services sold reached VND34,090 billion (US$1.65 billion) in 2011, equal to 110.90 percent of the full-year plan and up 22.10 percent from a year earlier. Its profit exceeded the yearly plan by 22.30 percent and expanded 36.50 percent over 2010. Its export turnover reached US$120 million, up 10 percent year on year. Its key exports included rice, seafood, handicrafts, ceramics, and furniture. Its key markets were Japan, the United States, Australia, Europe, China, South Korea, South Africa and ASEAN countries.
In 2011, Satra actively developed retail distribution systems. It opened nine Satrafoods convenience stores and one trade centre and supermarket called Satra Pham Hung. It is carrying out many projects like Binh Dien Trade Centre (where its freezing facility will be put into operation in 2012) and Satra Tax Plaza project, now in blueprint.
As distributor for many famous companies like Vissan, Cau Tre, AGREX Saigon, Binh Dien, APT, Cofidec, Nhabexim and Satra Rice Processing Factory, Satra has strongly developed its retail distribution systems by opening Satrafoods convenience stores, Satramart supermarkets, and Satra Pham Hung trade centre and supermarket. Besides, the group has strengthened cross-company cooperation to tap internal forces. In 2011, Satra arranged dozens of contracts worth over VND1,000 billion.
While other companies are facing a lot of difficulties in business operations, Satra has still achieved impressive growth and expanded its performance. Mr Dao Xuan Duc, Deputy General Director of Satra, said: “Satra has attained the above results because it possesses companies operating in many different industries from commercial services to production, establishes and builds up relationships with trusted domestic and international clients and partners, and develops nationwide retail and wholesale distribution systems. This is the source of the power for Satra to overcome difficulties. The brand name and reputation of Satra are trusted by domestic and foreign customers."
He added that the group will harness all potential and resources in 2012 to rake in revenues of VND37.8 trillion, up 12.5 percent over 2011.
With its success in the past 17 years of development, Satra is striving to become a conglomerate with core businesses of trade, service, production and processing to fulfil all tasks assigned by the Ho Chi Minh City People’s Committee. “Satra aims to become a major distributor with nationwide commercial centres, supermarkets, food stores, markets and warehouses,” added Mr Duc.
Bich Thuy
Vietnamese
