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A shrimp production line at Sao Ta Company.

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Recently, Coteccons Construction Joint Stock Company announced the company has signed two additional high-end project construction contracts: Complex Building and Metropole Thu Thiem phase 1, bringing total value of the contracts signed in Quarter 1/2020 to more than5,000 billion VND.

For twoprojects that have just won the tender, the Complex Building project invested by Golden Hill Investment Joint Stock Company is located in the centre of District 1, scale of 8,320 m2 with the structure of two twin 48-storey towers, 1,074 luxury apartments. Metropole Thu Thiem Project (phase 1) - a luxury residential - commercial complex invested by Quoc Loc Phat Joint Stock Company and Son Kim Land project development partner. In phase 1, Coteccons is the general contractor for constructing three12-storey towers with a total of 486 units.

Similarly, Hoang Huy Service Joint Stock Company has become an investor of the investment project to build social housing in Hai Phong City. The project is built on an area of ​​more than30,000 m2, with total investment of more than 646 billion. In addition to the newly won project, Hoang Huy is also preparing projects in Hai Phong such as Hoang Huy Commerce with total investment of VND 4,000 billion, Hoang Huy Grand Tower with a total investment of VND 1,500 billion VND and Hoang Huy New City has a total investment of up to VND 30,000 billion.

Besides enterprises winning big projects amid difficult circumstances, other businesses also announced positive profit. Specifically, the Board of Directors of PetroVietnam Power Engineering Services Joint Stock Company (PPS) has approved estimated results of the first quarter 2020 business targets with total revenue exceeding 14% of the plan, reached nearly 51 billion and profit before tax exceeded 16%, reaching nearly 3 billion VND. Compared with the results of the first quarter of 2019, this period's PPS results jumped by 50% in revenue and 200% in profit. In the second quarter of 2020, PPS said it will start preparing for bidding for Ca Mau 1 project, which is expected to take place in August and sign the regular maintenance and repair contract of Vung Ang 1 Thermal Power Plant in October.

Another oil and gas company, PetroVietnam Drilling and Services Joint Stock Company (PV Drilling) has announced its business results in the first quarter of 2020, reaching 1,650 billion VND in revenue, exceeding 45% of the plan and 27 billion of profit after tax, exceeding 80% of the plan. This result is also very high compared to the revenue of VND 910 billion and net loss of VND 93 billion in the same period in 2019. PV Drilling said the above positive results were achieved thanks to continuous operation of drilling rigs and the unit price increased by nearly 10% compared to the same period in 2019. The jack-up rigs have operating efficiency of 100%, of which PV Drilling has fourrigs owning continuous operation in the market. Malaysia and threeleased rigs operate in Vietnam market.

Similarly, Vicostone's business results were also very positive with net revenue increased by nearly 21% and profit after tax upby nearly 17%, reaching VND 1,366 billion and VND 303 billion respectively.

Mobile World Joint Stock Company also announced its revenue in March reached about VND 8,500 billion, positive growth. Ofwhich, the online channel revenue increased strongly and accounted for 10% of total revenue, up from 6% in the first twomonths of 2020.

Flexible response

In the complicated situation of the Covid-19 pandemic from the beginning of the year until now, the textile and aquaculture industries have been seriously affected. However, according to the announcement of TNG Investment and Trading Joint Stock Company, total sales in the first quarter of 2020 still reached 773 billion VND, equivalent to 96% compared to the same period in 2019. TNG said the reason The decline in revenue was due to the complicated effects of the Covid-19 pandemic in the country and worldwide, causing customers to agree with TNG to delay the delivery time, leading to a 5% decrease in export sales. If all 400,000 products were manufactured with value of US$2.1 million, the export turnover increased by 1.3% over the same period last year.

TNG said that in the context of thepandemic, the company had flexible production of anti-bacterial masks for anti-pandemic so domestic sales in the first quarter of 2020 reached 63.3 billion VND, up 10% compared to the same period of last year. In addition, TNG has also researched and produced protective medical protective suits to join hands with all levels and sectors in the fight against Covid-19. The production capacity of TNG meets 100,000 sets/day. This product also opens up a good export direction in the near future.

Sao Ta Joint Stock Company also sold 917 tonnes of frozen shrimp in March 2019, down nearly 13% compared to the same period last year; general sales reached 10.2 million, down nearly 5%. For the whole quarter I / 2020, revenue reached 30.7 million USD, about 95% compared to the same period last year. Sao Ta explains the cause of the decline due to a few EU contracts being suspended due to Covid-19, partly because FMC did not sign risky contracts to ensure safety and efficiency in manufacturing business.

In response to Covid-19, Sao Ta has built aworst-case scenarios for each unit and the whole company to be more proactive when the situation is not normal. Accordingly, reserve materials for processing for at least two weeks; the shrimp farm stores food for half a month. Basically, up to now, all solutions of Sao Ta have been promoted effectively.

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According to the annual practice, in each business season, good results are always announced early by businesses, then later, more negative results are there. However, in the context of gloomy business conditions, obtaining such rare positive figures is also very praiseworthy. However, the current Covid-19 pandemic is still complicated in many countries and in Vietnam. Therefore, investors forecast that the situation in the secondquarter may be worse. Especially when Vietnam and other countries have promulgated regulations on isolation and restriction on the road for people, affecting difficulties for consumption of goods, especially those that do not belonging to essential consumer products.