Ta Phuoc
Dat, Deputy General Director of the Saigon General Service Company SVC, said in
2011, SVC will focus on trade, while it will restrain investments in the
finance and real estate sectors.

Regarding
real estate investments, Dat said that he will cancel big projects to gather strength
for the projects that just need some additional capital. Regarding financial
investments, the company began cutting down financial investments in 2010 and
it will continue taking back capital to focus on its key business field – trade
services.

When asked
about the business plan for 2011, Dat said his company has drawn up different
scenarios to be submitted to the board of directors. In general, the company is
striving to have the same business result as it  obtained in 2010 (in 2010, SVC had the total turnover
of 4.184 trillion dong and the pretax profit of 110.768 billion dong).

While
discussing the development strategy for the period of 2011-2015, after
reviewing the current operational scheme, the board of directors of
PetroVietnam Finance Corporation (PVFC) has decided to restructure the
corporation and subsidiaries. Nguyen Thien Bao, General Director of PVFC,
stressed at the shareholders’ meeting held several days ago that in 2011, the
national economy is predicted to face many difficulties.  Therefore, PVFC will focus on heightening the
quality of its assets, capital sources and financial services in order to
ensure safe and sustainable growth. PVFC strives to obtain the total turnover
of 6800 billion dong and the minimum pretax profit of 800 billion dong.

Once an
enterprise operating in the petroleum sector, several years ago Comeco began
diversifying its business fields in order to optimize profits by pouring money
into securities investments and real estate projects. The new business fields
once brought huge profits to the company when the stock market was very active.
However, financial investments have proven to be a risky investment, evident
from when the stock market fell in 2010. Therefore, Comeco has decided to focus
on developing the petroleum sale network in 2011 and restraining  financial investments in order to maintain
stable profits.

In order to
turn objectives into reality, Comeco has set up three more petroleum shops,
built a general petroleum store in Nhon Trach district in Dong Nai province
which covers an area of 20 hectares (in the first phase of operation, the store
has the capacity of 40,400 cubic meters) and a 25,000 DWT wharf.

Similarly,
Thu Duc Import-Export Trade Company TMC has also said it will focus on trading
fuel and input materials, which is the main source of income for the company;
it will not spread money into too many business fields. In 2011, TMC hopes to
obtain the total turnover of 1.650 trillion dong and the pretax profit of 26
billion dong and it plans to pay the dividend of 16 percent.

Focusing on
core business fields is also the choice of securities companies. Pham Minh
Tuan, Member of the Board of Directors of SME Securities Company, said in 2011,
SME will concentrate on two main services, consultancy and brokerage.
Meanwhile, it will restrict securities trading deals in order to ensure the
safety of its capital. Especially, many securities companies tend to abandon
the service of guaranteeing businesses’ share issues, which was once considered
a profitable business field. It is because the service requires a huge sum of
capital and the risks are big.

Tuyet Ngan