Sao Mai Corp Reports Impressive Growth

“The strong human resource is major factor making our success,” affirmed Le Thanh Thuan, Chairman of Board of Director cum General Director of Sao Mai Corp. He said that Sao Mai Company is currently making a revolution in human resources. In addition to existing workers, Sao Mai Corp also tries to attract qualified human resource in the country and send them abroad for further training and higher qualification.

 

Together with the high salary policy (average over VND5 million per capita per month), the company has established a friendly and open working environment between employees and employers. Thanks to the good welfare policy and the high respect for workers, the working effectiveness of Sao Mai staff is nearly maximised.

 

One of the key factors for the success of Sao Mai Corp is the leading role of the directors' board of the corporation, led by engineer Le Thanh Thuan with more than 20 years of experience in the construction industry. He is also the secretary of the Party in the company. He said: “We have to reach out to the sea for big fish. To do so, a big ship, good crew, and especially a talented captain will be essential factors to guide the ship in right direction. In Sao Mai Corp, the board of directors is the necessary captain.”

 

Currently, Sao Mai Corp's board of directors has five members who are experienced and devoted to the company since the beginning of the operation. Thanks to the good managing role, the flexibility in grasping market information and the full use of human resource, Sao Mai Corp has always maintained sustainable development and made great progress, helping the company build prestige among its clients and partners.

While many real estate investors are facing difficulties due to the shortage of funds, Sao Mai has still succeeded in raising capital from its big shareholders, especially foreign stakeholders who account for 56 per cent of total shareholders in the company, including reputable financial and credit organisations in the world. Thanks to the strong financial force, and the investment preferential policy of local authority as well as other advantages, Sao Mai Corp has gained success from its projects. Sao Mai has successfully built Sao Mai luxury urban areas in Binh Khanh Ward (Long Xuyen City), Ward 7 (BenTre Town), and a resort for Korean specialists (Resort Sao Mai) in Ba Ria – Vung Tau Province.

In a recent interview, Mr Thuan said that Sao Mai Corp will strive to double its revenues and profit in 2008 against the previous year. He explained: “Sao Mai has maintained stable growth over the past years. Its revenues and profit is always higher year by year, even doubling that of the previous year. Although the property market is predicted to face challenge in the coming time due to various factors, Sao Mai Corp still develops its ambitious target to become a multi-sector economic group. Beside the real estate sector, Sao Mai is seeking to invest in seafood cultivating, processing, and exporting, and the services sector (tourism and labour export). In 2008, Sao Mai will focus on carrying out some big projects in An Giang Province, including Sao Mai luxury urban area at Xuan To international border gate (Tinh Bien), residential area and Hoi An market centre (New Market), a trading centre in northern National Highway 91 in Cai Dau Town (Chau Phu), Sao Mai luxury urban area in Tri Ton Town, and Bay Nui ecotourism to make it become the second Da Lat in Vietnam.

 

At the same time, Sao Mai Corp will also develop various projects in provinces nationwide, including Sao Mai luxury urban area in Ward 10 (My Tho City, Tien Giang Province), and Sao Mai luxury urban area in Hoa Binh City in Hoa Binh Province. They are all multi-billion projects. Especially, Sao Mai has established land fund to penetrate two big markets, Hanoi and Ho Chi Minh City.

 

Mr Thuan also said that profit from services contributed 10 per cent and property 90 per cent to Sao Mai's total profits in 2007. In the coming time, the new aspect of seafood cultivating, processing and exporting is expected to account for 20 per cent of total profit, while the service and property sectors will contribute 10 per cent and 70 per cent, respectively. In order to reach the target, Sao Mai and its subsidiary, the multi-national Investment and Development Joint Stock Company (IDI) will jointly put into operation the Frozen Seafood Plant No 1 out of three Vam Cong Industrial Park in Lap Vo, Dong Thap Province. Each plant will have capacity of 600 tons of material per day with investment capital of over US$50 million. Besides, the by–product processing plant with investment capital of over US$70 million will also start operation to produce aquatic food and cod-liver oil. The company plans to employ over 6,000 skilled workers and 600 qualified officials with university degrees from now to 2010.

 

Mr Thuan confidently said: “Sao Mai Corp is striving to become a strong economic group, a leading property investor and seafood exporter in Mekong Delta region.”

 

With the above sustainable development and specific targets, we believe that the path to reach the target is only the matter of time.