Being good at math but loving to write poetry, liking photography, Mr. Doan Hoa Thuan, CEO of Hai Phat Investment Joint Stock Company, said he came to work here because he saw the desires of President Do Quy Hai and breakout prospects of Hai Phat.
Mr. Doan Hoa Thuan shared with Thanh Nien on the occasion of October 13
On the occasion of Vietnamese Entrepreneurs (13.10), Mr. Doan Hoa Thuan shared with Thanh Nien about his choices as well as Hai Phat development plans in the future.
In 2018, Hai Phat is mentioned with the event of listing shares on HOSE. Insiders say Doan Hoa Thuan has great merit with this event due to the financial expertise?
We have prepared for 2 years before officially listing shares on Ho Chi Minh City Stock Exchange (HOSE). In there, nearly 1 year, we have done DD (Due Deligence) with Dragon Capital.
I came to Hai Phat from the end of September 2017, to October and November 2017, the final steps for closing the contract with Dragon Capital were made so that Dragon Capital officially invested 15% in Hai Phat, then sign a contract with a listing consultant. The successful listing of shares on July 24,2018 is the work of the whole team, I just make good use of my expertise and relationship to promote the common work of the company.
How is Hai Phat’s IPO related to the sustainable development strategy of enterprises?
In addition to transparency, improving management capacity and diversifying capital mobilization channel, the listing of stocks on HOSE is also the message we send to investors about Hai Phat’s commitment on the way of development. Instead of being able to make a profit from some single, short-term investment projects, we ensure the goal of sustainable growth. In our commitment to shareholders, we put the annual average growth target of at least 30%, minimum dividend rate of 15% / year.
In 2018, Hai Phat aims to achieve 3,200 billion VND in revenue and 450 billion VND in profit after tax. How are the numbers achieved so far?
In the first 6 months, our profit after tax was about 180 billion VND. In the last 6 months, profit can reach 280 billion VND from specific projects of Hai Phat such as Phu Luong, Thuan An Central Lake, Roman Plaza low-rise projects, financial investment activities, … Thus, we are confident to achieve the plan.
Hai Phat is one of the big brand real estate developers, what do you expect from real estate M&A deals?
We especially like making auction land projects or acquiring projects from other partners. With Hai Phat, the implementation of projects through auctions, M&A is one of the priority directions. To do so, Hai Phat always ensures: Firstly, it is related to the structure of investment portfolio of enterprises; Secondly, an opportunity to increase clean land fund for businesses can immediately implement the project, make good use of opportunities to ensure short and medium term objectives; Thirdly, enterprises must have good financial capacity and implementation capacity, for example, in the past time, Hai Phat bought a part of Phu Luong project, successfully auctioning Thuan An Central Lake project, 24-hour town house on To Huu street. Those are projects that show us success in auction and M&A activities.
With Thuan An Central Lake project in Trau Quy (H. Gia Lam, Hanoi), we have sold 140 adjacent villas. Phu Luong project is also being developed to hand over to customers at the end of this year. The project of a 24-hour townhouse on To Huu street has also been completed, recording the change in the appearance of the road of To Huu. Then, M&A activities will continue to be promoted by Hai Phat in Hanoi, Ho Chi Minh City as well as other provinces.
What is the development plan of Hai Phat in the future, Sir? How are the goals for the next 5 years to make 15 projects and revenue of over half a billion USD in 2022 now?
Besides traditional products, we will develop resort real estate and industrial real estate products. Among the 15 projects mentioned, there are also a number of resort real estate projects that can be deployed in 2019 such as TM1 in Nha Trang with an area of about 8,100 m2 at Tran Phu street – the location is evaluated golden soil;
Thuan Phuoc SEA project in Da Nang; Some projects in Hoi An are also in the process of preparing for investment procedures, or in Binh Thuan province, we also invest in a project of 198 ha near Mui Ne and Thien Nghiep airport. These are destinations that, according to our assessment, are very potential, in accordance with Hai Phat’s “host facter” and the target of half a billion USD in revenue in the next 5 years can be guaranteed.
It is said that current resort properties such as “blooming flowers” and high competition. Hai Phat is confident “slow” but has “clear water”?
With the resort real estate project, the most important is the location. Although we were behind, when we decided to do it, the preparation and the necessary conditions for implementation would be very clear. Hai Phat aims at good locations. For example, the TM1 project in Nha Trang has a very nice location, close to the administrative center of Khanh Hoa, one side is contiguousto the sea, one is contiguous to the river, and the view is beautiful; or SEA Thuan Phuoc project in Danang is located right near Thuan Phuoc bridge. The potential of tourism real estate in these provinces is huge.
Not only that, we also aim to some other markets, including Binh Thuan and Can Tho. When the highway connects Binh Thuan with neighboring provinces and Thien Nghiep airport goes into commercial operation, the 198 hectares project in Binh Thuan will be expected to bring good business opportunities as well as make a big contribution to profits of Hai Phat.
Besides, another advantage of Hai Phat is that we have Hai Phat Land – a unit in Hai Phat ecosystem and a leading real estate distributor in Vietnam – will be the unit to offer real estate products of Hai Phat. The advantage of having a leading distribution unit in the ecosystem will be exploited to the utmost by Hai Phat to not be “slow” in developing resort real estate products.
So far, there are people still curious why you decided to move from a state-owned enterprise to a private enterprise like Hai Phat when clearly in the old place, your position is also very high?
I found that in Hai Phat, there was a desire and a breakthrough. With my experience of more than 20 years, I think I can join in Hai Phat to develop businesses to achieve new goals. I knew President Do Quy Hai before going to Hai Phat for 2 years, when talking, I could see the aspirations, passion and development prospects of the business, so after sharing it, I accepted to work in Hai Phat.
working at a private enterprise, do you find yourself more busy?
I am much busier. For the system to work well, the head must really control the work, organize the assignment, ensure the below staffs to understand the guiding idea, ensure the system connection accordantly. There are night meetings, negotiations until 2 – 3 am, after a meal break, negotiations are continued and ended in the early morning,normally.
Many people are curious about the CEO of Hai Phat, what are the hobbies?
I like listening to music without words with an old radio bought a dozen years ago. I am not passionate about cars, consider it as vehicles, only. Also, I have a hobby of enjoying tea and photography. Thanks to photography, I have balanced my life as well as interesting experiences.
When I went to photography, I felt relaxed, my mind calmed down, and made the right decisions.
Heard that Hai Phat CEO also knows how to write poetry?
(Laugh). I am interested in maths, not a passion for literary. But on the occasion of the anniversary of November 20, there was a poem competition, I composed a poem about the sea, received a special award, now still hanging in the traditional room of the school. The poem contains: “Có những ngày biển động/Con thuyền thì thấp, sóng thì cao/Biển bạc đầu trăm ngàn con sóng lớn/Dâng đến đâu rồi cạn kiệt đến đâu/Sóng dữ dội đến bọt bèo mới ngã”. (There are rough sea days / the boat is low, the waves are high / The big sea with the hundred thousand big waves / Where to go, then running out/ Violent waves to new foam fall).
Feelings to write verses are from my experiences with the sea, because my (feel there are times when ships encounter big waves, stalling, but if they pass, they will go to the destination. When I watched Hai Phat’s business film, seeing the image of the wave, I felt very close, and there was an association that, everyone’s life experienced difficulties and ups and downs, but going through it would be grow faster, stronger. There is a saying by President Hai Phat “experience to be more confident, experience to be more successful” I was very interested and found that experience is very necessary for CEOs.
Hai is the sea, Phat is like a big wave
Strongly send the boat to hope to surf offshore
Beyond the ocean with great courage
Boat landed with pride
(The opening verse in the footage video of Hai Phat)
(According to the Youth at link: https://thanhnien.vn/tai-chinh-kinh-doanh/ceo-doan-hoa-thuan-toi-ve-hai-phat-vi-o-day-co-su-khat -khao-but-phase-1012855.html)