CONG TY CO PHAN HOP TAC LAO DONG VOI NUOC NGOAI

CONG TY CO PHAN HOP TAC LAO DONG VOI NUOC NGOAI

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Company Overview
Cong Ty Co Phan Hop Tac Lao Dong Voi Nuoc Ngoai is a Vietnamese company engaged in the provision of support activities to transportation services. The company was incorporated in 1991 and has its registered office in Ngo Quyen District, Vietnam.
The company’s activities include providing tariff and freight rate consulting services, providing packing and crating services for air transportation, providing support activities for rail transportation, providing support activities for water transportation, providing support activities for road transportation, and arranging transportation of freight between the shippers and the carriers.
Business Summary
The Company’s main business is categorized as follows:
-Recruit, train profession and foreign language for labor export;
-Broker, agent and export labor;
-Sea-transport domestically and foreign together with sailor training;
-Ship agent, forwarding and marine brokerage;
-Shipping services, and ship maintenance both domestically and foreign.
Description and history
History:

The international labor cooperation shareholding company, whose predecessor is the international labor cooperation company, was established under the decision no. 45/QD/TCCB dated February 2, 1991 signed by the general director of Vietnam marine association under the Vietnam marine association. In 1993, the Company was reestablished under the decision no. 1296/QD-TCCCB-LD dated June 29, 1993 signed by the minister of transportation as a state-owned company with a full legal status under the management of the Vietnam marine bureau (and later Vietnam marine corporation) with the initial capital of 239 million VND. To implement the policy of the Party and the government on the privatization of state-owned enterprises, the ministry of transportation issued the decision no. 77/1999/QD-BGTVT dated January 7, 1999 by the minister of transportation about the transformation of the international labor cooperation company (INLACO-HP) – member of Vietnam marine corporation to a joint-stock company. After that, the Company was registered and issued the certificate of business registration No. 055574 dated March 24, 1999 by the Hai Phong’s bureau of planning and investment with the additional charter capital of 16.500.000.000 VND which brought the total charter capital to 20.0000.000.000 VND. In the past years, with the efforts of the Company’s staff, the Company has undergone significant improvement, revenue and profit increase yearly with the stable dividend in the neighborhood of 15% year.

The Company’s main business is categorized as follows:

Recruit, train profession and foreign language for labor export;

Broker, agent and export labor;

Sea-transport domestically and foreign together with sailor training;

Ship agent, forwarding and marine brokerage;

Shipping services, and ship maintenance both domestically and foreign.

Market position:

Companies in the business of domestic sea transportation and marine agent have got used to the government’s protection. When Vietnam implements ASEAN marine agreement and joins WTO, this protection must be abandoned. This means these companies will face fierce competition from both domestic and foreign companies. Currently, there are about 180 companies nationwide in the business of marine services and support services. 33 companies of Vinalines are also competing in this business. In addition, other transportations like train, road or airways also competing with seaway transportation as alternatives. The international labor cooperation shareholding company is a member of Vietnam marine corporation with the 4 major areas of business: seaway transportation, sailor export, labor export, marine agent and other services. Seaway transportation accounts for the largest proportion in the total revenue, more than 90%. In the past 3 years, the Company major activities have developed significantly. Revenue increases annually with the rate of 14% year. After tax profit also increased rapidly. In comparison with 2003, EPS of 2004 and first half of 2005 increased by 19%. In the coming years, the Company has kept boosting the recruitment, training and exporting sailors and its traditional business with an emphasis on the regional markets. Speeding up the construction of 9-store office in the new resident area in Nga 5- Cat Bi airport to put into operation and for rent. In addition, the Company is planning to the procurement of new ships for international routes. The expected dividends for 2006 and 2007 are 15% year.

Business Line
Engaged in the provision of support activities to transportation services
Subsidiary

Advisor
AUDIT AND FINANCIAL CONSULTING COMPANY AND ASSOCIATES (ACA GROUP)
IPO date
12/26/2005
US SIC Code
4789
Company Address
4TH NGUYEN TRAI
NGO QUYEN DISTRICT
City province or state postal code

Phone: +84 313 551652
Fax: +84 313 826838
Country address: VIETNAM
Website url:

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