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Phuthai will join security market in 2008

In the morning 28/3, PhuThai Group declared offcially change from limited company model to joint stock model with new name: Phuthai group joint stock company, reach to develop with distribution and investment group model. Vn media discussed with Mr Pham Dinh Doan, General Director and Chief Executive Officer

Rep: Can you introduce some information about PhuThai’s activities?

Mr Pham Dinh Doan: Since its establishment in 1993, PhuThai became the leading distribution and investment model in Vietnam. With more than 50000 agents and 5000 direct customers in nationwide and now PhuThai has more 20 units belong and with 2 years develop strategy 2007 – 2008, we step by step to establish warehouse system, include from 6 – 8 general warehouses and about 20 wholesale distribution centers nationwide, especially in 2007 will build about 5 centers. Forecasting to 2010, our group will have more 3000 staffs with total takings is 10000 billions VND/year

4 “giants” in the distribution market: Hapro, Satra, Saigon Co.op and PhuThai Group agreed to cooperate and establish Vietnam Distribution Company (VDA) this last early year is the “perturb” event Vietnam distribution market. So to now, How does the establishmet deploy the activities of VDA?

The agreement to establish VDA was completed but work offically in the second term in 2007. Both VDA and 4 member units will develop and will not conflict interesst with each other and until make a joint venture block – become a big Group about retail distribution. At the present, the total takings of 4 member units reach to up 20.000 billion VND, when unite together, it can make 30000-40000 billion VND in the nearly future, make the advanced condition for developed scheme the professional, modern warehouse system.

Aside from the cooperation with members, VDA still cooperate wirh the Coporation maritime, exploit all seaports, logistic seaports, or cooperate with many big units about logistic, distribution, retail

Vietnam will open the distribution system in 2009, so Can VDA satisfy the requirement of society and shortcomings before positive competition of the foreign group?

In my opinion, we can. We don’t hesitate because 4 members VDA were strong units, with 10-20 experiences years, customers, markets So, when uniting will help strength of VDA increase fourfold and this is premiss for speed up development in the next period. However, i want to emphasize that in order to develop successfully, VDA need to have the assistance of State Agencies, for example the approachment with land fund in provinces in order to build big warehouses, distribution centers

To choose foreign strategical partner is a general trend of many Vietnam enterprises, so Will PhuThai Group follow this trend?

At present, we haven’t had a plan to cooperate with foreign partners yet. I think that the domestic enterprise can do completely, even better than foreign enterprise. For example, we are expecting VDA will develop like Wall Mart of Vietnam. Maybe use foreign experts but it’s not necessary to have foreign partner.

Did the change from Ltd company model to Joint stock Company model reglet the strategy of PhuThai that always open widely the attactive activities investment capital? And Will PhuThai post a bill on securities market?

Yes, the privatization will help strong enterprises to mobilize capital through securities market. Naturally, the change of PhuThai is in this route and PhuThai will join the securities market in middle or end of 2008

Thank you so much!


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