CIMAS-7 Years of Establishment and DevelopmentSUPPORT - CÔNG NGHỆ VIỆT .,JSC
To catch up with the country’s economic development of Vietnam, the boom of the infrastructure creates lots of business opportunities in the engineering industry. Under such circumstances, CIMAS has been known nationwide as a prestigious engineering company after 7 years endeavors and growth. Year 2007 marks another milestone for CIMAS with its revenue increase of 139% compared to last year. CIMAS always regards the quality ofservices as its target and motivation for further development.
How was CIMAS established?
CIMAS Engineering Company Ltd., (CIMAS) was established in 2001 located in Hanoi. With the legal capital of USD 1.9 million, CIMAS is a joint venture of CTCI Overseas Limited (CTCIO) in Hong Kong, Vietnam Machinery Erection Corporation (LILAMA), and Sincerity Engineering Company (Sincerity) – a Taiwanese trading company. The stake of CTCIO makes up 50 % in the company, while LILAMA of 33% and Sincerity of 17 %.
The corporate name CIMAS is the combination of the names of its 3 major shareholders: “CI” in CTCIO, ”MA“ in LILAMA, and “S” in Sincerity. Thanks to this, CIMAS has taken advantages of these 3 companies to make it a powerful one.
CIMAS’s operations mainly focused on its services including engineering, procurement, construction and project management. For years, CIMAS has engaged in a number of refinery, petrochemical, chemical, power, infrastructural & environmental projects and won the recognition from the clients. It is anticipated that CIMAS will realize its vision – “Become a leading internationalized provider of engineering services in Vietnam” in the near future.
With the corporate principle of “professionalism, sincerity, teamwork and innovation”, CIMAS commits itself to providing the clients with services of high quality and competitive price, which helps raise the clients’ prosperity in the future. The period of 2001 to 2008 is not long enough for CIMAS to exploit its all patentability. However, we believe that with sustained efforts CIMAS will realize its goal of high profitability and customer satisfaction through long-term vision.
CIMAS’s advantages rests on its cross-national talents, together with its professional management procedures, good command of international regulations and standards, as well as its full understanding on the international and domestic markets. This enables us to provide customized solutions to enterprises, supporting them with our services in line with international standards as well as Vietnam’s business environment. With those advantages, CIMAS can secure its domestic and foreign clients to meet their high demands.
Another important factor that set CIMAS’s firm position in the clients is its high returns envisaged in the future, based on the revenues that the company has achieved since its establishment.
CIMAS has seen high growth rate in recent years. The company’s net revenue in 2005 was reported of USD 1.93 million with the profit before tax of USD 592 thousand. In 2006, the revenue and profit increasd to USD 2,48 million and USD 717 thousand, respectively. Year 2007, a significant year for CIMAS, was marked with its revenue hitting a record high of USD 6,92 million, compared to USD 2.48 million in 2006. Moreover, CIMAS’s EPS index in 2007 was estimated at 22%.
CIMAS’s key to success
To enhance the business effectiveness and competitiveness, CIMAS is planning to raise its legal capital to USD 2.5 million in the next 3 years. This is the first time that the company raised its capital since its establishment. Besides, CIMAS also focuses on attracting talented people as well as providing trainings for its colleagues to improve their capabilities in general and to promote the development of the company for the future as well.
With the continued cooperation, learning and experience-sharing altogether among more than 200 CIMAS’s staff, CAMAS is to be built into an enterprise with the culture of proactively learning and striving to perfect itself. This is one of the core keys to the company’s success.
We now are striving to improve our business structures as well as management skills and coporate statergy to meet the clients’ increasing demand in line with international standards. Creating trust and satisfaction of the clients with professionalism, sincerity and effectiveness is the common goal that all of our staff has been pursuing. At CIMAS, we believe that each challenge is an opportunity for us to drive ourselves towards corporate sustainability.