VN’s Savico sees changes in key positions

Mai Viet Ha, CEO, Savico

Saigon General Service (Savico) appointed Mai Viet Ha as the company CEO from January 19. He was the company’s deputy general director in charge of trade and service before becoming the CEO,

Ha joined Savico in February 2008 after working in automobile firms Ford Vietnam and EuroAuto – BMW. He will be replacing Nguyen Binh Minh as the CEO.

An MBA from Netherlandish Maastricht School of Management (majoring in the automobile industry), Ha will prove valuable to Savico as one of the company’s three focus sectors is auto services.

Meanwhile, Minh was resigned to devote time to Ben Thanh Corporation by the HCM City People’s Committee. Ben Thanh Corporation is a large shareholder of Savico. Minh will retain his position as member of Savico’s management board.

In addition, Ta Phuoc Dat, another Savico’s deputy general director (in-charge of finance and accounting) has resigned and joined as general director of Binh Duong Ford, a unit of Savico. Dat is also a current board member in Savico.

“We are restructuring the company, merging and reducing some departments as well as re-organising key positions, aiming to transform the company positively,” Minh said in a statement.

In 2014, Savico’s revenue was estimated at $370.9 million, increasing 20 per cent over 2012 and exceeding the target by 12 per cent. Its gross profit was around $5.2 million, rising 32 per cent year-on-year. The trading and service operation brought about 69 per cent of the profit, while real estate and financial activities accounted for 29 per cent and 2 per cent, respectively.

The sales of cars and trucks also jumped 29 per cent to almost 14,000 units. The company expects each category of operation will grow by 7 to 10 per cent this year.

For the future plan, Minh said among the three pillars, the proportion of trade and service, real estate and finance in the total asset will be 50-60 per cent, 35-40 per cent and 5-10 per cent, respectively.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.