UDEC Affirming Strong Trademark in Urban Development and Construction Sector

Ba Ria – Vung Tau Urban Development and Construction Joint Stock Company (UDEC) is strengthening its trademark in its operating fields of real estate construction and trading, and tourism investment and development.

Quality is the top priority

At present, UDEC is holding a large amount of capital in its associated companies such as Golf Vietnam Tourism Joint Stock Company (holding 51 percent of chartered capital), Thanh Chi Joint Stock Company (30 percent of chartered capital), Vung Tau Mountain & Cable Car Tourism Joint Stock Company, etc.

The company has made significant contributions to building urban zones inside and outside Ba Ria – Vung Tau province, including National Road 51B, National Road 51C (Vung Tau city), Ba Ria Commercial Centre, Dong Xuyen Industrial Park, Phu My I Industrial Park, Golf Da Lat Hotel 3, Tan Duc Residential and Industrial Zone (Long An province).

Currently, UDEC is the investor of four big projects in Ba Ria – Vung Tau province, including 4-star Golf Phu My Hotel, Phu My Residence (Tan Thanh district), Asian Residence and Bau Sen Apartment in Vung Tau city, which was commenced in early 2009 at a total investment capital of VND1,572 billion.

To ensure sustainable development, UDEC always defines the quality is the most important element in any construction work. The company strictly observes technical requirements applied to construction. Last but not least, UDEC regularly updates and adjusts its norm systems, technical and economic criteria to control production and expenditure processes to enhance the competitiveness.

Good business strategy

Mr Trinh Hang, General Director of UDEC, said: Most of UDEC projects are affected by the global economic crisis. However, with sound anticipations of difficulties, the company has successfully adopted suitable business strategies. Thus, the company has managed to deal with challenges and obtain high results. In 2008, the total production value was VND497.8 billion, fulfilling 106 percent of the full-year plan and increasing 227.5 percent from 2007. Of the sum, the total revenue reached VND468.5 billion, the profit amounted to VND40.365 billion, and tax payments exceeded VND44 billion. Average monthly income of staffs is VND4 million. The company donated VND750 million to social and charity activities.

With its achievements, UDEC was bestowed the Lighthouse Award 2008 by the People’s Committee of Ba Ria – Vung Tau province. Mr Trinh Hang said: “We feel this award is not only the pride and honour but also te driving force for us to obtain more achievements in the future.”

In 2009, UDEC was officially transformed into a joint stock company. Despite difficulties after the transformation, UDEC still completed its tasks and plans. As of August 31, 2009, the total production and business value reached VND340 billion, or 60 percent of the full-year plan and the company paid nearly VND27 billion to the State Budget. Under the current difficult period, UDEC has cleverly arranged its projects. “Multi-industry investment does not generate high rate of returns but it is safer on fewer risks encountered,” said Trinh Hang. In the coming time, the company will focus on three main fields: production, real estate and new urban zone, with special priority given to housing projects (resettlement zones and social housing projects.)

Posted by VBN on Nov 25 2009. Filed under Enterprises. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry