Press with Traphaco Nov 30, 2017

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Talking to the Forum for Enterprise (Enternews.vn), Mr. Tran Tuc Ma, the CEO of Traphaco Joint Stock Company (Traphaco) asserted: After 45 years of establishment and development, Traphaco has presented high ethical standards and revolutionary vision in research and production, step by step realizing "the green path for healthiness", and becoming one of the leading medicine manufacturers in Vietnam.

Mr. Tran Tuc Ma - Traphaco's CEO said: Traphaco's leaders are pioneers in exploring new dimensions in business as well as applying advanced management tools in the company’s governance. From this base, Traphaco can take the top position in managing green value chain, innovating and applying new knowledge and technologies.

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- One of the sustainable development goals is to achieve material, spiritual and cultural harmony. How does Traphaco solve this "puzzle"?

After 45 years of operation, Traphaco has had many employees whose families have worked here for two or three generations. Traphaco's human resources survey results have been released by Anphabe, showing that Traphaco employees' happiness index is 82.7 points higher than the industry average and the whole market (the pharmaceutical industry index is 64, 8 points with participants are 1,749 people in the pharmaceutical industry) and Vietnam was 63.1 points (with participants are 26,128 workers in the different professions).

“By 2020, Traphaco aims to rank No. 1 among Vietnamese pharmaceutical companies in terms of growth of revenue, profit and market capitalization.”

Traphaco staffs have demonstrated three most favorable qualities of an employee:  Trust in the company, cordial attitude with colleagues and positive sharings about the company. Their rationally and emotionally connection, their long-termed commitments to the company is among the excellent group in the Vietnamese market. The happiness index is one of the indicators of sustainable development. The nature of business is to seek profit. If the leader does not have a reasonable way to harmonize the profit of employees, shareholders, customers, etc., the company cannot enjoy the sustainable development. Working with passion and enthusiasm, the employee will bring better productivity. It also truly reflects one of the core values ​​in Traphaco’s belief of people and culture in working place: aspiration - passion - dedication.

- As a leader of Traphaco, how do you personally evaluate your happiness scale?

I am happy to have been with the development of Traphaco during these years. I also wish the employee's happiness index to get higher, because that is the measure of my happiness scale. The survey has pointed out existing limitations and expectations of workers which are very reasonable and practicable.

- At present, two foreign investment funds, Magbi Fund Limited (Hongkong) and Super Delta Pte Ltd (Singapore), have registered to buy a total of 16.63 million shares, equivalent to 40% of chartered capital and become significant shareholders of Traphaco. Is there an adjustment in the strategy of the company in the near future, sir?

We have not had meeting with two new shareholders in this issue. In the coming time, after the thorough meeting, the parties will discuss to optimize the added value.

However, we are determined to stick to the strategy of "the green path for healthiness", becoming the No.1 pharmaceutical company in Vietnam in terms of growth of revenue, profitability and market capitalization by 2020. From now to 2020, Traphaco sets a target of revenue growth at 15-33% per year. Accordingly, the company expects to achieve sales of VND4,000 billion, profits will increase 2.5 times, to VND500 billion, market capitalization reaches VND10,000 billion by 2020. This is a rather ambitious goal and we are effectively implementing our strategy. Basically, when monitoring the implementation process, strategic investors will put in some more expectations.

- Does that put pressure on you personally and Traphaco's leadership?

Pressure is not too much since planning and implementation are at high expectation already. In 2017, the company has approved the revenue target of VND2,000 billion, consolidated profit after tax of VND242 billion, expected dividend in cash at 30%. At this point, it can be confirmed that all the above objectives are achieved. There will be some minor adjustments, such as thanks to the management software and sales tracker, we have a good database to develop favorable policies for customers and agencies with good growth, creating a driving force for better growth.

In the context of fierce competition and ever-growing pressure, the leaders are required to act actively, confidently and open to changes.  For example, applying science and technology into corporate governance replaces a large number of manual workers. Automatic process and administrative procedures now don’t need to be reported, giving the leader an invisible sense of losing power. So, to apply, the leader must change and dare to change. This is the prerequisite.  I think businesses with good application of information technology will take better opportunities for development; accordingly, productivity, quality, efficiency and transparency will increase. This is also a way for businesses to "leapfrog" and catch up with the world.

At the same time, leaders also have more time for mapping out strategies without being occupied by the minutiae.

At this point, we confidently affirm that Traphaco has built a suitable strategy and appropriate roadmap for the sustainable development of the company as the leading force in management of green value chain, innovating and applying new technologies and knowledge, creating original and signature products of Traphaco. By 2020, Traphaco will rank No. 1 among Vietnamese pharmaceutical companies in terms of growth of revenue and profit and market capitalization.

The foundation for Traphaco’s sustainable development in the future

With the strategy “the green path for healthiness", Traphaco has made best use of Vietnam’s advantages in biodiversity and a long-lived tradition of herbal medicine to develop products from medicinal plants. The company is constantly researching and developing green value chains from raw materials - technology - products - distribution services.

Traphaco is one of the few companies that invest bravely in the unconventional direction to create a breakthrough in growth, quickly becoming the leading brand in Vietnam pharmaceutical industry. Traphaco pioneered the GACP-WHO plantation and cultivated over 800 hectares of plantations for more than 10 major medicinal herbs in 28 provinces and cities across the country.

Especially, with the inauguration of the most modern medicine factory in Vietnam, Traphaco continues to affirm its pioneering innovation and application of technology in the pharmaceutical industry, contributing to the supply of safe and quality products, effective treatment, service, health care for people.

Traphaco’s new factory is built on an area of ​​46,288 m2 with a total investment of VND477 billion, including 3 workshops and 5 production lines. Large-scaled, synchro and automatic lines to produce siro and solutions are based on the principle of "No touch, No dust" to minimize human’s intervention and improve the product quality.

In addition, Traphaco has a widespread distribution system, which is considered to be among the leading pharmaceutical companies in Vietnam with over 26,000 pharmacies nationwide. Simultaneously, many software has been adopted. Especially, Enterprise Resource Planning (ERP) system has been successfully implemented in Traphaco since 2016, allowing the company to capture data quickly, accurately and analyze profitability based on accurate data on cost, revenue, sales output, target customers, market trends ... The enterprise also easily manage the inventory, bad debt, eliminate the unnecessary work.

More importantly, Traphaco has built a team of highly qualified, creative, and dedicated staff.

- Thank you Sir!

Phan Nam