2.1 Overview of Tay A Construction Company (TAC)
2.1.4 Economic and technical characteristics
[Table 2-1] Capital structure of TAC over 3 years of 2014-2016
(Source: Finance and Accounting Department, TAC 2017)
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As mentioned in the above table, TAC's equity increases steadily over the years from 2014 to 2016. The company's financial position is relatively good, the loan capital decreases gradually over the years, the working capital gradually increases year by year. This will help TAC increase its ability to balance revenue and expenditure to serve production and business tasks for the next year.
Technology
Along with the integration of the country and t he development trend of the construction industry traffic, TAC has invested in modern equipment and trained engineers to acquire new technologies. TAC equipment is divided into nearly 30 types produced in Europe, Japan, US, Korea, China, etc. so it has modern technical features and has adapted to the requirements of construction technology. Advanced, modern technology in the field of construction of bridges and roads is developing today.
Over the past years, with the current equipment and personnel capacity , TAC has affirmed its high competitiveness in the market by always winning big domestic traffic projects, with an average output of 2,000 billion VND/year, meet the progress, quality, the employers. The prestige of the company is constantly being confirmed and developed.
Technological features are the strengths of TAC, including:
More than 30 lines of foundation, pavement including ironing, shoveling, leveling, shifting, vibrating roller can be used to build large excavations in all terrain, meeting the standards of ASSHTO.
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More than 10 asphalt spreading lines include: mixing plants, wheel loaders, mopeds, sprayers, sprinklers, lighters, etc. These lines can be built independently of productivity of construction of 1000 tons/shift.
5 large stone production lines with the combination of equipment: stone drilling machine, stone screening machine of France, Germany, Russia. These lines can be exploited centrally, can move maneuver with the output of 800-4,000 m3/shift with rock types.
10 lines of hard bridge construction with pile drilling technology can drill 80m deep, drilling diameter Dmax = 2000mm in all terrain, on land as well as in water. There are equipment for production of fresh concrete with a capacity of 60 - 80 tons per hour, with equipment for casting of beam L = 30 - 38m and especially floating equipment for bridge construction, it is possible to construct a bridge over the river with high static and aperture beam.
In addition to the service facilities and technology of direct construction, TAC also has a team of design consultants with state-of-the-art equipment and advanced facilities such as electronic stations, etc. can measure distances on all terrains with high accuracy, for survey and planning design as well as technical design to ensure quality; mobile laboratories in the field with modern equipment to ensure the condition of the inspection and acceptance of products.
2.1.4.3 Product characteristics
Over ten years of innovation in Vietnam, TAC has built thousands of kilometers of roads, many bridges, architecture, airports, ports, etc. with
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construction value of hundreds of millions of dollars. The works are of different quality and purpose to serve production, improve living conditions in material as well as spirit, create more and more facilities for human. TAC is a strong economic unit operating in the construction and industrial sectors. TAC's products are construction works associated with traffic works such as bridges, roads, etc.
For transportation projects, as they are public service projects, they are usually only economically viable from a socio-economic perspective, and are rarely effective if viewed purely from the perspective of the public finance. Also, these projects are not attractive to businesses because businesses that aim primarily at maximizing profits. As a result, these works are often invested by the state to serve both production and service purposes. Therefore, the ability to repay the state is due to the transportation fees collected in all areas. As well as the increase in revenues from value added tax as well as corporate income tax, where the increase in taxes is due to road construction projects.
The construction of the company is a special product is fixed; single;
manufacture to order; large scale, long product formation time; mostly outdoors or in the ground. In addition, they are directly influenced by local conditions and are highly individualistic in their use. The product is made up of the cooperation of many units and related to the landscape, environment, construction meaning, socio- economic and national security and defense, so the production and business of the company is difficult and also affects the exploitation of the use of production
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equipment, great contradictions always arise. Due to the long time, the cost is great, so small errors can cause big losses and have to be repaired for many years.
Characteristics of market, customers
*Market
Many years ago, from a construction company faced many difficulties, especially as a consequence of the low bidding projects, the competition of domestic and foreign enterprises, and the budget. For construction work traffic tight, storm construction materials prices have made the financial situation of the company very serious. However, thanks to good corporate culture associated with promoting its strength as a leading bridge construction company in Vietnam, TAC is now one of the few construction companies in the transportation sector to get out of the hole and make a profit.
From 2014 onwards, TAC won the contract and executed many projects in all three regions of the country. In the coming time, TAC will identify the following objectives: acquisition of new technology in tunnel and airport construction in area where TAC is weak compared to other competitors and at the same time taking advantage of leading enterprises. On bridge construction technology to consolidate the northern market and develop the southern market to capture and gain the right to construct and invest in projects in these most dynamic regions of the country. In addition, the Company continues to maintain its partnership with Japan's transportation construction companies and expand to other international enterprises, step by step to penetrate the construction market in ASEAN and the world.
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* Customer
Customers are important to any business. Major customers of TAC are the parent agencies, local government invested, domestic and foreign companies have great financial ability. From the product features that require large capital investment, built up and used for a long time, TAC's customers are very careful and careful when selecting contractors with financial strength, experience in implementing the project, etc.
Satisfying quality requirements of customers is the success of TAC. As such, TAC builds long-term, sustainable long-term customer relationships with the satisfaction and value that TAC can share with its customers. Towards common goals of mutual benefit, mutual development, TAC and customers contribute to the growth of society. In order to become a regular and reliable partner of customers, every member of the company understands this quality policy and seeks all of their activities that contribute to present and future values of TAC.
Company culture
TAC's mission is expressed in four aspects:
For customers: TAC is the pioneer in providing the best bridge, port and airport solutions for the industry, in line with customer needs.
For shareholders: TAC is committed to the efficient business and profitability that shareholders expect.
For colleagues: TAC provides a challenging and rewarding work environment. Always encourage innovation and promote creativity.
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For the community: TAC is always concerned with environmental protection, respect for cultural values, support and community development.
The business philosophy of TAC is to use the resources of capital, material and human resources to achieve the safety, quality, progress and achieve the highest business results to make customers satisfied and enhance TAC brand in domestic and foreign markets. Safety - Quality - Progress - Effectiveness is always the slogan TAC is aiming to implement on all of its construction sites.
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