Dear Valued Shareholders,
We all have experienced a very hard year, even the hardest year for the economy in the last decade, with a frozen real estate market, increasingly stagnant inventories, a substantial decrease in market confidence, weak purchase power in retail and thousands of companies bankruptcies.
However, Saigon Water has been striving to cope with many challenges to sustain our investments, maintain our business operations and we finally achieved a positive bottom-line : Profit after Tax exceeded the budget plan + 22%, and 2012 was a remarkable year for us : the company shifted its core business from Infrastructure in general to Water infrastructure, especially Water supply and Waste Water Treatment.
This strategic move of the company is based on the high demand on Water supply and Waste Water treatment in Vietnam. And this creates the huge potential market for those who has capability on Water industry. The BOD had seriously considered this opportunities, especially the population and economic growth in Vietnam in next decade will be very optimistic, and finally we made a move.
Change is for survival and growth. However, the new progress always starts with many difficulties. Sometimes, we have to stop our new journey if we do not pass the obstacles, or we are lack of determination, long term vision as well as resources.
Looking forward, we have many reasons to be optimistic the road ahead, with our strongly set up in water industry, with our strong leadership team, experienced engineers, our shape business strategies and our commitment in resources and investments.
With long-term vision, Saigon Water will try its best to be a “trust icon for water project development in the perception of local communities” through its “total solution” with 3 core business units : (1) Investment, (2) Engineering Service, (3) O&M service. To achieve this expectation, Saigon Water commits to invest into its people, management system at the world-class level.
Finally, on behalf of the Board of Directors, once again, I would like to express our gratitude to you for your trust, support and partnership. I believe that our sustainable development strategy and innovative solutions will help us achieve our goals and plans for years to come; elevate the Saigon Water’s position and increase our stakeholders’ long-term benefits; and contribute more to the society.
Chairman of the board,
Le Vu Hoang