Though the company did not disclose detailed figures, it said that, as the third quarter ended, the wire and cable business had fulfilled the firm’s target for the entire year. During this period, revenue and profit jumped by 24 per cent over the same period last year.

SAM attributed the result to its re-structuring strategy, which helped them develop the capacity while cutting costs.

Orders from big companies like VNPT, FPT, Viettel and SCTV contributed to increasing the business in wire and cable, with exports of these products climbing.

The hospitality segment fulfilled 71.6 per cent of the annual target. In the first nine months, revenue from SAM Tuyen Lam, a company resort in Da Lat, jumped by 15 per cent over revenue for the entire year of 2016.

In terms of real estate, the company focused on apartment buildings at a mid-price.

In October, the company plans to open a showhouse of the Samsora Riverside project in Binh Duong Province, which will contain a total of 1,125 apartments in three buildings. The project is expected to be completed by the end of 2019. — VNS

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It has achieved revenues of VND481 billion (US$21 million), or 33 per cent of its full-year target.

Net profit was VND29 billion ($1.2 million), or 30 per cent of the target.

SAM attributed the high revenues to financial investment, which brought in VND94.5 billion ($4.1 million), 45 per cent higher than in the whole of last year.

The company said selling its stake in Hiep Phu Real Estate Company had yielded a profit of 66 per cent.

It is withdrawing from certain projects and plans to invest that money elsewhere for higher returns, it said. — VNS

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Specifically, both SACOM and Dong Nai Plastics will purchase the shares issued to Huewaco’s strategic shareholders. The value of this investment co-operation is 70 billion VND, all of which will be funded by SAM Holdings be contributed to investment, fee payment for Dong Nai Plastics by 0.5% / year on the total value of the initial investment, and profit devision corresponding to the investment’s ratio value.

Dong Nai Plastics JSC will register to purchase shares issued to Huewaco’s strategic shareholders, monitor the investment after all transactions are completed and participate in administrative activities of Huewaco during the co-operation. The duration for this investment co-operation is 6 years right after the contract is signed by all parties.

Heretofore, nearly 9.1 million shares of Huewaco was put up for auction with asking price of VND10,000/share. The auction ended with 507 investors totaling 9.05 million shares purchased at the asking price and grossed over 90 billion VND.

Established in 1909, fomerly known as Hue Water Supply Factory and renamed to Thua Thien Hue Construction and Water Supply one member co., Ltd in 1992, Huewaco is currently holding the capital of 876 billion VND with the revenue of 165 billion VND in the first 6 months of 2016, up to 11 billion compared with the first half of 2015 and the net profit of 15.3 billion VND, up to 22% over the same period. Total retained earnings remained 31.3 billion VND on June 30th, 2016.

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20 kilometers north of Lien Khuong airport, 10 kilometers south of Da Lat city, the high class resort SACOM Tuyen Lam has been rising like a beacon, becoming the pride of the people of Dalat and Lam Dong province as well. For SACOM Tuyen Lam spans 270 hectars – the largest in Dalat – with 59,3 hectars of peninsula facing Tuyen Lam lake on three sides with a valley ideal for large scale resort and entertainment. It has 2 5-star hotels, 400 villas, 18 hole golf course, wharf services with completed technical infrastructure.

Mr. Do Van Trac, vice-chairman and CEO of SACOM Group, explained to us that SACOM was originally a Post Office material factory II (established in 1986). This is the first unit in the Telecommunication section of Dong Nai province to be privatized early in the 1998. SACOM was also one of the two companies that listed on the share market with the HOSE code “SAM”. After agreeing on terms and conditions with Lam Dong province’s officials, SACOM decided to invest more than 2000 billions into Tuyen Lam Lake resort. More importantly, SACOM organized an international auction to select potential partners with enough resources to design and carry out constructions, such as: Ekistic (Canada) for the overall designs – including the golf course, Site Architecture (France) to design the hotels, gold club, villas. VNCC (Construction Ministry) for the infrastructure technical design and construction for the whole project, and finally to manage the hotels’ activities is Swiss – Belhotel International Corporation.

Also according to Mr Do Van Trac, the whole SACOM Tuyen Lam consists of 2 large projects: high class resort and Tuyen Lam Gold course which follow the world standards. The construction started back in 2009, and has finished and set into business: the technical infrastructure and internal transportation, 18 hole golf course (more than 73 hectars), 8 large villas with more than 40 rooms and one 5 star hotel with 151 rooms. Along with advantageous geography, breathtaking scenery, fresh air and large sums of investment, SACOM Tuyen Lam has the potential to become the top tier resort in Viet Nam and Asia in the future… With these 3 projects, SACOM is contributing greatly for the development of Tuyen Lam tourist attraction as well as Lam Dong Province Tourism, creating jobs and social benefits for the people in the area and around it.

Spring comes for SACOM Tuyen Lam

Early in the morning, we woke up after a long rain on Dalat Plateau with energetic spirit, might be because of the fresh air. The weather was chilly, the whole Tuyen Lam lake valley (more than 360 hectars) seemed to still be under the mist and silence. The clear morning dews were still stuck on the leaves and grasses. Occasionally, we could see rays of light piercing the mist, creating a wonderful and romantic spectacle at SACOM Tuyen Lam. The silence here allowed us to listen to the birds chirping and the insects shrieking, or the subtle rattle of the pine forest, as signs that Spring is coming. Following Mr. Do Van Trac, we found out that Tuyen Lam lake used to be a wild valley in Lam Dong, with the attitude of 1000 meters above sea level. The lake is 5 kilometers from the center of Da Lat, among a vast pine forest and the legendary Tia stream. The dry season here lasts for 6 whole months, with hardly a drop of rain, but Tuyen Lam lake is always filled to the brim.

The ping forest covers the mountains, the hills, as far as the eye can see. Everything blend together and create a tranquil picture of nature, peaceful and romantic… Thanks to the nature here, the leader of SACOM and its executives have decided to invest and turn this place into a high class resort chain in Viet Nam. And after 6 years of hard work with enormous amounts of effort and perseverance for the “lifetime” project on Da Lat Plateau, the answer for him is “in the right direction”.

As per usual, Da Lat in the final days of 2015 becomes much more active to welcome spring and the colorful festival season. Every corner of the street is decorated with ornaments just like an invitation for tourists all around the world. Now, they come here not just to witness the Thousand Bloom City, the beautiful ladies on Middle South Plateau, or journey to Prenn Waterfall, The Whispering Lake,… but a lot of them come here to escape their usual busy life and enjoy the quite, tranquility and lose themselves in the pure colors of Spring but also classy at SACOM Tuyen Lam…

A new Spring is coming!

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It is reported that TSC factory was constructed on March 9^th, 2016 at Long Thanh Industrial Zone, Long Thanh District, Dong Nai province with the total investment of over 445 billion VND and 15-hectare size.

With the initial investment value of 133.7 billion VND, after the divestment from TSC is completed, SAM will earn 37.9 billion VND profit and 20.6 billion VND provision reversal for investment in TSC. Thus, profit of the divestment from the TSC will be recorded in quarter 2/2016 is 58.5 billion VND, fulfilling 48% of 2016’s profit plan approved by the General Assembly of Shareholders.

According to Hai Duong Nguyen – chairman of SACOM, wire and cable industry is the core business in Sacom’s long-term development strategy. In 2016, SACOM aims for a revenue of more than 2,500 billion VND, approximately 12.8% out of total revenue. Aside from cables and wires, the company’s real estate department also sets the goal of filling as much as possible the office building and hotel areas, deploying apartment and office complex projects.

By Ha Phuong.

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