2013 Year – end statement

2013 Year – end statement

By this time last year, we had made some predictions about Vietnam economic.

Still few days to come, but the outcome is that 04 out of 05 predictions are correct.

Basically, Vietnam is still in the stagnant condition, dark clouds are on the sky and business circle struggles in dull environment.

Not much improvement to the previous years

In this difficult year, we have achieved some notable achievements which are considered as rewards to our endeavor in this 2013, they are;
– return to spice market with new local and international clients with regular transactions and acceptable mode of payment
– volume of natural rubber increased significantly with new markets and clients, grades are diversified and quality assurance work is much improved
– financial and credit lines are much improved thank to positive credibility from banks which are the laurels to our business especially in such a banking crisis year like this 2013.
This credibility is our valuable asset thank to our trade record and profitability with the crucial attribution from our Account and Finance dept and our warmest thanks to their works.
– Agency and representation plan has harvested some initial positive steps. Those partnerships will make us more flexible, diversified and confident in the market.
Our time and our effort as well are all for those partnerships so as we will grow together on mutual benefit cooperation.
But now, we have to talk about the dark sides of the story
– one of our missed dart is about currency devaluation. Ignorant and dogmatic communists believe that this agony and corruptive economic deserves a strong and stable currency while significant devaluation from competitors and neighboring countries, import bill and trade deficit raising, export shrinking are slaps on their face. We consider this as a macro risk and take it as granted.
– our miscalculations (about selling pressure, farmers` behavior and market trend) in coffee market have forced us to pay for that. Management have been reported about problem and suitable measurements have been taken in order to fix. Our obligation is to fulfill commitment to the clients and it did cost us a lot.
– risk management sometime were out of guard, technically and psychologically errs, have made problem worst.

There is a saying: “Nothing venture nothing win”. The bitterness of the dose is we took venture but win nothing

Anyways, let the past buries the past and take serious lesson on this.

Looking back the 2013, except some rainy days in coffee, we are confident and optimistic about coming years with more business chances and opportunities from new markets, new products and new clients. Our name and credibility are more recognized and trusted in the market, our volume is on the raise and our flow of works is more professional and smooth.

In 2014, our focus and priority is for
– China market with rubber and spices,
– Middle East with coffee and spices,
– Representation services to Europe and Australia,
– Australia with coffee, spices and wheat,
– Local network of coffee, spice, especially rubber suppliers and producers,
– Risk and volume of coffee will be tightly controlled and
– More works and responsibilities will be assigned to each staff on the teamwork spirit.

One special appraisal we want to express is to our ACC Team.

Your endeavors, industriousness, devotion and solidarity are corner stones to our business and we strongly believe those are full sails and mighty propulsive forces to guide our ACC through trouble water and to next promising ports.

Also sincere appreciations to our Banks, Partners, Clients and Friends for your support and association with us in this 2013.

We would like to take this chance to wish you all a Merry Christmas and Happy New Year 2014

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