MASCO changes after equitization

08:37 | 26/10/2017 Companies

(VEN) - During the last more than 10 years of operation after equitization, the Danang Airport Service Joint Stock Company (MASCO) has step by step developed, playing an important role in airport and non-airport services at airports in the central region.

masco changes after equitization

Continuous innovation

masco changes after equitization

The amended Vietnam Aviation Law took effect in 2006 contributing to creating a competitive and fair aviation market in Vietnam. MASCO started to work as a joint stock company right at that time in order to sharpen its competitive edge by closely following the strategic development goal, flexibly coping with changes in the market and building capacity in core services such as catering, shopping, taxi and advertising at airports.

In this context, MASCO launched new projects, expanded partnerships and promoted non-air services at airports in the central region.

MASCO deputy general director Tran Thanh Hai says, “To improve competitiveness, we have paid special attention to the management of quality of inflight food, strictly observing the ISO 22000, HACCP and WFSGA management systems.”

“Better services are expected to contribute to ensuring MASCO’s financial and sustainable growth targets and gaining reputation among financial institutions, which have ranked us among the 30 most transparent businesses listed in the Hanoi Stock Exchange (HNX) for years now,” he says.

To become a professional supplier of inflight food at the airports of Da Nang, Cam Ranh and Phu Bai and to keep up with increasing demand of airline firms in the context of domestic and international integration, MASCO has intensively invested in material facilities such as expanding production factories on more than 1,500sq.m in Da Nang, 4,200sq.m in Cam Ranh and 800sq.m in Phu Bai, while at the same time installing advanced production lines, handling vehicles, 11 refrigeration warehouses, 4 quick-freezing devices, bread production lines and kitchen smoke filters to meet international standards.

In addition, the company has properly invested in human resources training and retraining to improve their service skills. As a result of the implementation of comprehensive measures over the last 10 years, MASCO has grown rapidly and steadily by more than 10 percent per year. Its shares have attracted investors in the stock market. Last year the company earned total revenues of more than VND300 billion, a 12.8 percent increase from 2015, including VND37.75 billion in post-tax profit, an 11.8 percent increase. The earning per share (EPS) reached VND14,440, an 11.7 percent increase.

Total revenues and profits increased by 12 percent in the first half of 2017, reaching more than VND171 billion and VND36.65 billion, respectively.

Promoting the brand name

masco changes after equitization

In its sustainable development strategy, MASCO emphasizes the development of business culture and a professional, human-centered work environment. Accordingly, the company’s shops at Phu Bai and Da Nang international airports have showcased a full array of Vietnamese traditional handmade products such as Non Nuoc stone sculpture and Hoi An and Hue brocade and silk, plus domestic popular products like Trung Nguyen coffee and Ly Son garlic.

In the meantime, the company has expanded its clients to include Chinese airline firms such as Okair Airway, Tianjin Airlines, Air China Airlines and Cathay Pacific Airlines, which have non-stop flights between Hong Kong-China and Da Nang and Cam Ranh in Vietnam.

Since the demand for airway transport and airport services is increasing rapidly, the number of domestic and international flights at the Da Nang International Airport has been increasing, requiring MASCO to grow to keep up with demand.

According to Hai, the company established a marketing and quality management department in early 2016 with a focus on food safety in compliance with the ISO 22000:2005 management system, while at the same time upgrading factories, buying new vehicles and organizing bids to choose the best providers. MASCO plans to improve its brochures, menus, English-language website, video clips on and online marketing. It also expected to join Ariba SAP e-commerce websites in order to provide its products in a rapid and convenient manner.

However, the biggest challenge for the company lies in the fact that the number of air travellers has increased sharply, while the company has already worked at full capacity. For this reason, the company hoped to receive more ground at Da Nang International Airport in order to build new facilities for production of inflight food to meet the growing demand.

Thanks to efforts and achievements, MASCO has received a Third-class Labor Order from the government, Certificates of Merit from the Prime Minister, the Ministry of Transport and the Da Nang People’s Committee, Emulation Flags from the Civil Aviation Administration of Vietnam and the Vietnam Airlines Corporation, plus the Certificate of the Best Business in terms of profit in 2014. It also ranked among the 500 fastest growing businesses in Vietnam in 2015, the 10 fastest improving businesses in 2014-2015 and the 30 most transparent businesses in 2015-2016 at the Hanoi Stock Exchange (HNX).

Gia Khanh