2.2 1 3 Methods used in financial analysis
To evaluate whether the project is worth investing in, the author uses the discounted cash flow method to calculate the net present value (NPV), the internal rate of return (IRR) method and the benefit-cost ratio (B/C) method, considers the debt service safety ratio (DSCR) and the payback period (PP) method.
Specifically, the calculation method is as follows:
NPV: Present value of cash flows after deducting investment costs.
n
B i C i
[11] and [12]
i 0 (1 r ) i
B i : Project benefits C i : Project costs r: Discount rate.
Evaluation criteria: Project is feasible when NPV ≥ 0
NPV is a standard for evaluating the cash flow generated at the absolute level of the project and the enterprise. NPV has taken into account the opportunity cost of the investor's capital. NPV is calculated for each subject because each subject has a different discount rate. Although NPV does not care about the scale and payback period, this is the decisive criterion for choosing the analysis options.
IRR: Discount rate for NPV= 0.
n
B i C i 0
i 0 (1 r ) i
B i : Project benefits C i : Project costs
Evaluation criteria: Project is feasible when IRR ≥ MARR
IRR is a measure to compare with the investor's minimum required rate of return (MARR), but MARR is a factor that fluctuates over time and depends on the market, so
For a long-term project like Binh Hoa, IRR is used as a supporting method to confirm the feasibility or non-feasibility of the project.
Benefit/cost ratio (B/C) [12]
B/C = Present value of total benefits / Present value of total costs Evaluation criteria: Project is feasible when B/C > 1
The B/C method is quite straightforward but depends on the discount rate to calculate the present value (NPV) of the cash flows.
Debt service coverage ratio (DSCR).
DSCR at time i = Total 6 0 cash used to pay debt at time i / Total debt payable at time i
Evaluation criteria: DSCR 1 (for investors)
DSCR 1.2 (for banks)
DSCR shows the ability to raise cash to pay off debt at a given point in time, but only within the scope of the project and does not account for the ability to raise cash from other projects. In reality, a business can raise cash from many different sources, from different projects to pay off debt.
Payback Period (PP)
PP = (Invested Capital)/(Annual Net Income) = (year, month)
Evaluation criteria: PP < 5 years, 6 months (Because MARR = 18%, PP = 1/18*100% = 5.6).
PP has the advantage of being simple to calculate and easy to convince shareholders, but PP ignores investments that arise after the payback period. PP also does not care about the present value of cash flows.
2.3 1 4 Methods used in economic analysis
Although it is not possible to quantify all externalities or calculate the exact cost benefits of the project to the economy, when considering the project from the perspective of the economy in general, the thesis will use the CFi price conversion method by adjusting the taxes and subsidies in the financial appraisal results to convert to
economic price, then calculate NPV, IRR, B/C indexes and draw conclusions about the economic feasibility of the project.
In summary, the Binh Hoa project will be appraised by the criteria of NPV, IRR, B/C, DSCR, PP for financial and economic analysis from the perspective of the total investor, the investor, the perspective of the economy in general and the perspective of the budget, thereby drawing conclusions about the feasibility or non-feasibility of the project.
Chapter 3. 2 PROJECT DESCRIPTION
Chapter 3 provides an overview and highlights some of the project's features, and provides a plan for implementing the project in terms of design, architecture, and construction. This chapter also provides initial parameters at a general level to serve the purpose of financial and economic analysis of the project.
3.1 1 5 Project Introduction
4
Binh Hoa 3 Electronics Joint Stock Company (VBH) was converted from Binh Hoa Electronics One Member Co., Ltd. under Decision No. 2554/QD-TCCB dated August 8, 2005 of the Minister of Industry (now the Ministry of Industry and Trade) and was leased a land area of 24,418.5m2 by the State , the purpose of using the land is to build an office, warehouse and electronic equipment manufacturing workshop, the land lease period lasts until the end of 2020. However, VBH is subject to the relocation of its production activities according to the policy of relocating industrial production facilities out of the inner city area, the land that VBH is leasing will be reclaimed by the State.
The land that VBH is leasing has a very advantageous geographical location because it is located in the inner city area, has good infrastructure and convenient transportation, 2 frontages are No Trang Long Street and Chu Van An Street, near District 1 and 6km from Tan Son Nhat International Airport, less than 4km from Mien Dong Bus Station. Currently, the land has electricity, water supply and drainage system. The remaining assets on the land are not large, including rows of corrugated iron roof houses, factories, iron frame warehouses, roads, internal yards, according to the valuation in 2005 was 3.8 billion VND, because the company is using semi-permanent structures.
“Every inch of land is worth an inch of gold”, VBH wishes to continue using the land. According to the policy of the program to relocate polluting enterprises in the inner city to concentrate in industrial parks, export processing zones and surrounding areas, the necessary conditions for VBH to continue being a legal entity with land use rights are (i) VBH has a feasible project to convert the land use purpose in accordance with the district's planning approved before 2012 (ii) VBH needs to ensure the area for educational activities is at least 6,500 m2 on the land according to the opinion of the People's Committee of Binh Thanh District in Document No. 49/UBND-QLDT dated January 13, 2009 [14]. When VBH meets the above two conditions, the state will allow VBH to buy back the land according to
4 State capital representatives 51% [13]
The price is set by the state, not through bidding. Therefore, VBH calculated the construction plan of Binh Hoa project in order to benefit from the state's preferential land conversion policy. At present (June 2010), VBH and TECCO are still assessing the financial situation to carry out the project investment procedures.
3.2 1 6 Project characteristics
The entire area of 24,418.5m2 is reserved for the project, including 6,500m2 of land for educational activities. The remaining land area will be used for the construction of apartments, offices for rent, swimming pools, schools and green parks. Currently, this is a land with semi-permanent architectural works and there is still a lot of vacant land.
When completed, the apartment building will connect to two main roads, No Trang Long Street and Chu Van An Street. The apartment building will be located in a planning area with quite favorable infrastructure, because this is the center of Binh Thanh District, close to Tan Son Nhat Airport, Mien Dong Bus Station and District 1 center.
After studying legal documents to have a basis for project implementation, VBH hired Dothi.
SJC established the architecture, the basic design is summarized in Table 3.1 and detailed in Appendix 3.
Table 3.1 Basic design
STT
PROJECT | ACREAGE CONSTRUCTION (m 2 ) | NUMBER OF FLOORS | ACREAGE CONSTRUCTION FLOOR (m 2 ) | |
01 | Area A, Block 1 | 995 | 15 | 14925 |
block 2 | 1400 | 20 | 28000 | |
block 3 | 600 | 18 | 10800 | |
02 | Area B, Block 1 | 1487 | 15 | 22305 |
block 2 | 647 | 20 | 12940 | |
03 | Area C, Block 1 | 524 | 15 | 7860 |
block 2 | 1097 | 20 | 21940 | |
04 | Pool | 863 | 843 | |
05 | School | 1,100.0 | 2 | 2200 |
06 | Basement | 10,209.12 |
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![Mobile Phone Usage in Hanoi Inner City Area
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- Test the relationship between demographic variables and consumer behavior for Mobile Marketing activities
The analysis method used is the Chi-square test (χ2), with statistical hypotheses H0 and H1 and significance level α = 0.05. In case the P index (p-value) or Sig. index in SPSS has a value less than or equal to the significance level α, the hypothesis H0 is rejected and vice versa. With this testing procedure, the study can evaluate the difference in behavioral trends between demographic groups.
CHAPTER 4
RESEARCH RESULTS
During two months, 1,100 survey questionnaires were distributed to mobile phone users in the inner city of Hanoi using various methods such as direct interviews, sending via email or using questionnaires designed on the Internet. At the end of the survey, after checking and eliminating erroneous questionnaires, the study collected 858 complete questionnaires, equivalent to a rate of about 78%. In addition, the research subjects of the thesis are only people who are using mobile phones, so people who do not use mobile phones are not within the scope of the thesis, therefore, the questionnaires with the option of not using mobile phones were excluded from the scope of analysis. The number of suitable survey questionnaires included in the statistical analysis was 835.
4.1 Demographic characteristics of the sample
The structure of the survey sample is divided and statistically analyzed according to criteria such as gender, age, occupation, education level and personal income. (Detailed statistical table in Appendix 6)
- Gender structure: Of the 835 completed questionnaires, 49.8% of respondents were male, equivalent to 416 people, and 50.2% were female, equivalent to 419 people. The survey results of the study are completely consistent with the gender ratio in the population structure of Vietnam in general and Hanoi in particular (Male/Female: 49/51).
- Age structure: 36.6% of respondents are <23 years old, equivalent to 306 people. People from 23-34 years old
accounting for the highest proportion: 44.8% equivalent to 374 people, people aged 35-45 and >45 are 70 and 85 people equivalent to 8.4% and 10.2% respectively. Looking at the results of this survey, we can see that the young people - youth account for a large proportion of the total number of people participating in the survey. Meanwhile, the middle-aged people including two age groups of 35 - 45 and >45 have a low rate of participation in the survey. This is completely consistent with the reality when Mobile Marketing is identified as a Marketing service aimed at young people (people under 35 years old).
- Structure by educational level: among 835 valid responses, 541 respondents had university degrees, accounting for the highest proportion of ~ 75%, 102 had secondary school degrees, ~ 13.1%, and 93 had post-graduate degrees, ~ 11.9%.
- Occupational structure: office workers and civil servants are the group with the highest rate of participation with 39.4%, followed by students with 36.6%. Self-employed people account for 12%, retired housewives are 7.8% and other occupational groups account for 4.2%. The survey results show that the student group has the same rate as the group aged <23 at 36.6%. This shows the accuracy of the survey data. In addition, the survey results distributed by occupational criteria have a rate almost similar to the sample division rate in chapter 3. Therefore, it can be concluded that the survey data is suitable for use in analysis activities.
- Income structure: the group with income from 3 to 5 million has the highest rate with 39% of the total number of respondents. This is consistent with the income structure of Hanoi people and corresponds to the average income of the group of civil servants and office workers. Those
People with no income account for 23%, income under 3 million VND accounts for 13% and income over 5 million VND accounts for 25%.
4.2 Mobile phone usage in Hanoi inner city area
According to the survey results, most respondents said they had used the phone for more than 1 year, specifically: 68.4% used mobile phones from 4 to 10 years, 23.2% used from 1 to 3 years, 7.8% used for more than 10 years. Those who used mobile phones for less than 1 year accounted for only a very small proportion of ~ 0.6%. (Table 4.1)
Table 4.1: Time spent using mobile phones
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Alid
<1 year
5
.6
.6
.6
1-3 years
194
23.2
23.2
23.8
4-10 years
571
68.4
68.4
92.2
>10 years
65
7.8
7.8
100.0
Total
835
100.0
100.0
The survey indexes on the time of using mobile phones of consumers in the inner city of Hanoi are very impressive for a developing country like Vietnam and also prove that Vietnamese consumers have a lot of experience using this high-tech device. Moreover, with the majority of consumers surveyed having a relatively long time of use (4-10 years), it partly proves that mobile phones have become an important and essential item in peoples daily lives.
When asked about the mobile phone network they are using, 31% of respondents said they are using the network of Vietel company, 29% use the network of
of Mobifone company, 27% use Vinaphone companys network and 13% use networks of other providers such as E-VN telecom, S-fone, Beeline, Vietnammobile. (Figure 4.1).
Figure 4.1: Mobile phone network in use
Compared with the announced market share of mobile telecommunications service providers in Vietnam (Vietel: 36%, Mobifone: 29%, Vinaphone: 28%, the remaining networks: 7%), we see that the survey results do not have many differences. However, the statistics show that there is a difference in the market share of other networks because the Hanoi market is one of the two main markets of small networks, so their market share in this area will certainly be higher than that of the whole country.
According to a report by NielsenMobile (2009) [8], the number of prepaid mobile phone subscribers in Hanoi accounts for 95% of the total number of subscribers, however, the results of this survey show that the percentage of prepaid subscribers has decreased by more than 20%, only at 70.8%. On the contrary, the number of postpaid subscribers tends to increase from 5% in 2009 to 19.2%. Those who are simultaneously using both types of subscriptions account for 10%. (Table 4.2).
Table 4.2: Types of mobile phone subscribers
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Valid
Prepay
591
70.8
70.8
70.8
Pay later
160
19.2
19.2
89.9
Both of the above
84
10.1
10.1
100.0
Total
835
100.0
100.0
The above figures show the change in the psychology and consumption habits of Vietnamese consumers towards mobile telecommunications services, when the use of prepaid subscriptions and junk SIMs is replaced by the use of two types of subscriptions for different purposes and needs or switching to postpaid subscriptions to enjoy better customer care services.
In addition, the majority of respondents have an average spending level for mobile phone services from 100 to 300 thousand VND (406 ~ 48.6% of total respondents). The high spending level (> 500 thousand VND) is the spending level with the lowest number of people with only 8.4%, on the contrary, the low spending level (under 100 thousand VND) accounts for the second highest proportion among the groups of respondents with 25.4%. People with low spending levels mainly fall into the group of students and retirees/housewives - those who have little need to use or mainly use promotional SIM cards. (Table 4.3).
Table 4.3: Spending on mobile phone charges
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Valid
<100,000
212
25.4
25.4
25.4
100-300,000
406
48.6
48.6
74.0
300,000-500,000
147
17.6
17.6
91.6
>500,000
70
8.4
8.4
100.0
Total
835
100.0
100.0
The statistics in Table 4.3 are similar to the percentages in the NielsenMobile survey results (2009) with 73% of mobile phone users having medium spending levels and only 13% having high spending levels.
The survey results also showed that up to 31% ~ nearly one-third of respondents said they sent more than 10 SMS messages/day, meaning that on average they sent 1 SMS message for every working hour. Those with an average SMS message volume (from 3 to 10 messages/day) accounted for 51.1% and those with a low SMS message volume (less than 3 messages/day) accounted for 17%. (Table 4.4)
Table 4.4: Number of SMS messages sent per day
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Valid
<3 news
142
17.0
17.0
17.0
3-10 news
427
51.1
51.1
68.1
>10 news
266
31.9
31.9
100.0
Total
835
100.0
100.0
Similar to sending messages, those with an average message receiving rate (from 3-10 messages/day) accounted for the highest percentage of ~ 55%, followed by those with a high number of messages (over 10 messages/day) ~ 24% and those with a low number of messages received daily (under 3 messages/day) remained at the bottom with 21%. (Table 4.5)
Table 4.5: Number of SMS messages received per day
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Valid
<3 news
175
21.0
21.0
21.0
3-10 news
436
55.0
55.0
76.0
>10 news
197
24.0
24.0
100.0
Total
835
100.0
100.0
When comparing the data of the two result tables 4.4 and 4.5, we can see the reasonableness between the ratio of the number of messages sent and the number of messages received daily by the interview participants.
4.3 Current status of SMS advertising and Mobile Marketing
According to the interview results, in the 3 months from the time of the survey and before, 94% of respondents, equivalent to 785 people, said they received advertising messages, while only a very small percentage of 6% (only 50 people) did not receive advertising messages (Table 4.6).
Table 4.6: Percentage of people receiving advertising messages in the last 3 months
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Valid
Have
785
94.0
94.0
94.0
Are not
50
6.0
6.0
100.0
Total
835
100.0
100.0
The results of Table 4.6 show that consumers in the inner city of Hanoi are very familiar with advertising messages. This result is also the basis for assessing the knowledge, experience and understanding of the respondents in the interview. This is also one of the important factors determining the accuracy of the survey results.
In addition, most respondents said they had received promotional messages, but only 24% of them had ever taken the action of registering to receive promotional messages, while 76% of the remaining respondents did not register to receive promotional messages but still received promotional messages every day. This is the first sign indicating the weaknesses and shortcomings of lax management of this activity in Vietnam. (Table 4.7)
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![Mobile Phone Usage in Hanoi Inner City Area
zt2i3t4l5ee
zt2a3gsconsumer,consumption,consumer behavior,marketing,mobile marketing
zt2a3ge
zc2o3n4t5e6n7ts
- Test the relationship between demographic variables and consumer behavior for Mobile Marketing activities
The analysis method used is the Chi-square test (χ2), with statistical hypotheses H0 and H1 and significance level α = 0.05. In case the P index (p-value) or Sig. index in SPSS has a value less than or equal to the significance level α, the hypothesis H0 is rejected and vice versa. With this testing procedure, the study can evaluate the difference in behavioral trends between demographic groups.
CHAPTER 4
RESEARCH RESULTS
During two months, 1,100 survey questionnaires were distributed to mobile phone users in the inner city of Hanoi using various methods such as direct interviews, sending via email or using questionnaires designed on the Internet. At the end of the survey, after checking and eliminating erroneous questionnaires, the study collected 858 complete questionnaires, equivalent to a rate of about 78%. In addition, the research subjects of the thesis are only people who are using mobile phones, so people who do not use mobile phones are not within the scope of the thesis, therefore, the questionnaires with the option of not using mobile phones were excluded from the scope of analysis. The number of suitable survey questionnaires included in the statistical analysis was 835.
4.1 Demographic characteristics of the sample
The structure of the survey sample is divided and statistically analyzed according to criteria such as gender, age, occupation, education level and personal income. (Detailed statistical table in Appendix 6)
- Gender structure: Of the 835 completed questionnaires, 49.8% of respondents were male, equivalent to 416 people, and 50.2% were female, equivalent to 419 people. The survey results of the study are completely consistent with the gender ratio in the population structure of Vietnam in general and Hanoi in particular (Male/Female: 49/51).
- Age structure: 36.6% of respondents are <23 years old, equivalent to 306 people. People from 23-34 years old
accounting for the highest proportion: 44.8% equivalent to 374 people, people aged 35-45 and >45 are 70 and 85 people equivalent to 8.4% and 10.2% respectively. Looking at the results of this survey, we can see that the young people - youth account for a large proportion of the total number of people participating in the survey. Meanwhile, the middle-aged people including two age groups of 35 - 45 and >45 have a low rate of participation in the survey. This is completely consistent with the reality when Mobile Marketing is identified as a Marketing service aimed at young people (people under 35 years old).
- Structure by educational level: among 835 valid responses, 541 respondents had university degrees, accounting for the highest proportion of ~ 75%, 102 had secondary school degrees, ~ 13.1%, and 93 had post-graduate degrees, ~ 11.9%.
- Occupational structure: office workers and civil servants are the group with the highest rate of participation with 39.4%, followed by students with 36.6%. Self-employed people account for 12%, retired housewives are 7.8% and other occupational groups account for 4.2%. The survey results show that the student group has the same rate as the group aged <23 at 36.6%. This shows the accuracy of the survey data. In addition, the survey results distributed by occupational criteria have a rate almost similar to the sample division rate in chapter 3. Therefore, it can be concluded that the survey data is suitable for use in analysis activities.
- Income structure: the group with income from 3 to 5 million has the highest rate with 39% of the total number of respondents. This is consistent with the income structure of Hanoi people and corresponds to the average income of the group of civil servants and office workers. Those
People with no income account for 23%, income under 3 million VND accounts for 13% and income over 5 million VND accounts for 25%.
4.2 Mobile phone usage in Hanoi inner city area
According to the survey results, most respondents said they had used the phone for more than 1 year, specifically: 68.4% used mobile phones from 4 to 10 years, 23.2% used from 1 to 3 years, 7.8% used for more than 10 years. Those who used mobile phones for less than 1 year accounted for only a very small proportion of ~ 0.6%. (Table 4.1)
Table 4.1: Time spent using mobile phones
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Alid
<1 year
5
.6
.6
.6
1-3 years
194
23.2
23.2
23.8
4-10 years
571
68.4
68.4
92.2
>10 years
65
7.8
7.8
100.0
Total
835
100.0
100.0
The survey indexes on the time of using mobile phones of consumers in the inner city of Hanoi are very impressive for a developing country like Vietnam and also prove that Vietnamese consumers have a lot of experience using this high-tech device. Moreover, with the majority of consumers surveyed having a relatively long time of use (4-10 years), it partly proves that mobile phones have become an important and essential item in peoples daily lives.
When asked about the mobile phone network they are using, 31% of respondents said they are using the network of Vietel company, 29% use the network of
of Mobifone company, 27% use Vinaphone companys network and 13% use networks of other providers such as E-VN telecom, S-fone, Beeline, Vietnammobile. (Figure 4.1).
Figure 4.1: Mobile phone network in use
Compared with the announced market share of mobile telecommunications service providers in Vietnam (Vietel: 36%, Mobifone: 29%, Vinaphone: 28%, the remaining networks: 7%), we see that the survey results do not have many differences. However, the statistics show that there is a difference in the market share of other networks because the Hanoi market is one of the two main markets of small networks, so their market share in this area will certainly be higher than that of the whole country.
According to a report by NielsenMobile (2009) [8], the number of prepaid mobile phone subscribers in Hanoi accounts for 95% of the total number of subscribers, however, the results of this survey show that the percentage of prepaid subscribers has decreased by more than 20%, only at 70.8%. On the contrary, the number of postpaid subscribers tends to increase from 5% in 2009 to 19.2%. Those who are simultaneously using both types of subscriptions account for 10%. (Table 4.2).
Table 4.2: Types of mobile phone subscribers
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Valid
Prepay
591
70.8
70.8
70.8
Pay later
160
19.2
19.2
89.9
Both of the above
84
10.1
10.1
100.0
Total
835
100.0
100.0
The above figures show the change in the psychology and consumption habits of Vietnamese consumers towards mobile telecommunications services, when the use of prepaid subscriptions and junk SIMs is replaced by the use of two types of subscriptions for different purposes and needs or switching to postpaid subscriptions to enjoy better customer care services.
In addition, the majority of respondents have an average spending level for mobile phone services from 100 to 300 thousand VND (406 ~ 48.6% of total respondents). The high spending level (> 500 thousand VND) is the spending level with the lowest number of people with only 8.4%, on the contrary, the low spending level (under 100 thousand VND) accounts for the second highest proportion among the groups of respondents with 25.4%. People with low spending levels mainly fall into the group of students and retirees/housewives - those who have little need to use or mainly use promotional SIM cards. (Table 4.3).
Table 4.3: Spending on mobile phone charges
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Valid
<100,000
212
25.4
25.4
25.4
100-300,000
406
48.6
48.6
74.0
300,000-500,000
147
17.6
17.6
91.6
>500,000
70
8.4
8.4
100.0
Total
835
100.0
100.0
The statistics in Table 4.3 are similar to the percentages in the NielsenMobile survey results (2009) with 73% of mobile phone users having medium spending levels and only 13% having high spending levels.
The survey results also showed that up to 31% ~ nearly one-third of respondents said they sent more than 10 SMS messages/day, meaning that on average they sent 1 SMS message for every working hour. Those with an average SMS message volume (from 3 to 10 messages/day) accounted for 51.1% and those with a low SMS message volume (less than 3 messages/day) accounted for 17%. (Table 4.4)
Table 4.4: Number of SMS messages sent per day
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Valid
<3 news
142
17.0
17.0
17.0
3-10 news
427
51.1
51.1
68.1
>10 news
266
31.9
31.9
100.0
Total
835
100.0
100.0
Similar to sending messages, those with an average message receiving rate (from 3-10 messages/day) accounted for the highest percentage of ~ 55%, followed by those with a high number of messages (over 10 messages/day) ~ 24% and those with a low number of messages received daily (under 3 messages/day) remained at the bottom with 21%. (Table 4.5)
Table 4.5: Number of SMS messages received per day
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Valid
<3 news
175
21.0
21.0
21.0
3-10 news
436
55.0
55.0
76.0
>10 news
197
24.0
24.0
100.0
Total
835
100.0
100.0
When comparing the data of the two result tables 4.4 and 4.5, we can see the reasonableness between the ratio of the number of messages sent and the number of messages received daily by the interview participants.
4.3 Current status of SMS advertising and Mobile Marketing
According to the interview results, in the 3 months from the time of the survey and before, 94% of respondents, equivalent to 785 people, said they received advertising messages, while only a very small percentage of 6% (only 50 people) did not receive advertising messages (Table 4.6).
Table 4.6: Percentage of people receiving advertising messages in the last 3 months
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Valid
Have
785
94.0
94.0
94.0
Are not
50
6.0
6.0
100.0
Total
835
100.0
100.0
The results of Table 4.6 show that consumers in the inner city of Hanoi are very familiar with advertising messages. This result is also the basis for assessing the knowledge, experience and understanding of the respondents in the interview. This is also one of the important factors determining the accuracy of the survey results.
In addition, most respondents said they had received promotional messages, but only 24% of them had ever taken the action of registering to receive promotional messages, while 76% of the remaining respondents did not register to receive promotional messages but still received promotional messages every day. This is the first sign indicating the weaknesses and shortcomings of lax management of this activity in Vietnam. (Table 4.7)
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Mobile Phone Usage in Hanoi Inner City Area
zt2i3t4l5ee
zt2a3gsconsumer,consumption,consumer behavior,marketing,mobile marketing
zt2a3ge
zc2o3n4t5e6n7ts
- Test the relationship between demographic variables and consumer behavior for Mobile Marketing activities
The analysis method used is the Chi-square test (χ2), with statistical hypotheses H0 and H1 and significance level α = 0.05. In case the P index (p-value) or Sig. index in SPSS has a value less than or equal to the significance level α, the hypothesis H0 is rejected and vice versa. With this testing procedure, the study can evaluate the difference in behavioral trends between demographic groups.
CHAPTER 4
RESEARCH RESULTS
During two months, 1,100 survey questionnaires were distributed to mobile phone users in the inner city of Hanoi using various methods such as direct interviews, sending via email or using questionnaires designed on the Internet. At the end of the survey, after checking and eliminating erroneous questionnaires, the study collected 858 complete questionnaires, equivalent to a rate of about 78%. In addition, the research subjects of the thesis are only people who are using mobile phones, so people who do not use mobile phones are not within the scope of the thesis, therefore, the questionnaires with the option of not using mobile phones were excluded from the scope of analysis. The number of suitable survey questionnaires included in the statistical analysis was 835.
4.1 Demographic characteristics of the sample
The structure of the survey sample is divided and statistically analyzed according to criteria such as gender, age, occupation, education level and personal income. (Detailed statistical table in Appendix 6)
- Gender structure: Of the 835 completed questionnaires, 49.8% of respondents were male, equivalent to 416 people, and 50.2% were female, equivalent to 419 people. The survey results of the study are completely consistent with the gender ratio in the population structure of Vietnam in general and Hanoi in particular (Male/Female: 49/51).
- Age structure: 36.6% of respondents are <23 years old, equivalent to 306 people. People from 23-34 years old
accounting for the highest proportion: 44.8% equivalent to 374 people, people aged 35-45 and >45 are 70 and 85 people equivalent to 8.4% and 10.2% respectively. Looking at the results of this survey, we can see that the young people - youth account for a large proportion of the total number of people participating in the survey. Meanwhile, the middle-aged people including two age groups of 35 - 45 and >45 have a low rate of participation in the survey. This is completely consistent with the reality when Mobile Marketing is identified as a Marketing service aimed at young people (people under 35 years old).
- Structure by educational level: among 835 valid responses, 541 respondents had university degrees, accounting for the highest proportion of ~ 75%, 102 had secondary school degrees, ~ 13.1%, and 93 had post-graduate degrees, ~ 11.9%.
- Occupational structure: office workers and civil servants are the group with the highest rate of participation with 39.4%, followed by students with 36.6%. Self-employed people account for 12%, retired housewives are 7.8% and other occupational groups account for 4.2%. The survey results show that the student group has the same rate as the group aged <23 at 36.6%. This shows the accuracy of the survey data. In addition, the survey results distributed by occupational criteria have a rate almost similar to the sample division rate in chapter 3. Therefore, it can be concluded that the survey data is suitable for use in analysis activities.
- Income structure: the group with income from 3 to 5 million has the highest rate with 39% of the total number of respondents. This is consistent with the income structure of Hanoi people and corresponds to the average income of the group of civil servants and office workers. Those
People with no income account for 23%, income under 3 million VND accounts for 13% and income over 5 million VND accounts for 25%.
4.2 Mobile phone usage in Hanoi inner city area
According to the survey results, most respondents said they had used the phone for more than 1 year, specifically: 68.4% used mobile phones from 4 to 10 years, 23.2% used from 1 to 3 years, 7.8% used for more than 10 years. Those who used mobile phones for less than 1 year accounted for only a very small proportion of ~ 0.6%. (Table 4.1)
Table 4.1: Time spent using mobile phones
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Alid
<1 year
5
.6
.6
.6
1-3 years
194
23.2
23.2
23.8
4-10 years
571
68.4
68.4
92.2
>10 years
65
7.8
7.8
100.0
Total
835
100.0
100.0
The survey indexes on the time of using mobile phones of consumers in the inner city of Hanoi are very impressive for a developing country like Vietnam and also prove that Vietnamese consumers have a lot of experience using this high-tech device. Moreover, with the majority of consumers surveyed having a relatively long time of use (4-10 years), it partly proves that mobile phones have become an important and essential item in people's daily lives.
When asked about the mobile phone network they are using, 31% of respondents said they are using the network of Vietel company, 29% use the network of
of Mobifone company, 27% use Vinaphone company's network and 13% use networks of other providers such as E-VN telecom, S-fone, Beeline, Vietnammobile. (Figure 4.1).
Figure 4.1: Mobile phone network in use
Compared with the announced market share of mobile telecommunications service providers in Vietnam (Vietel: 36%, Mobifone: 29%, Vinaphone: 28%, the remaining networks: 7%), we see that the survey results do not have many differences. However, the statistics show that there is a difference in the market share of other networks because the Hanoi market is one of the two main markets of small networks, so their market share in this area will certainly be higher than that of the whole country.
According to a report by NielsenMobile (2009) [8], the number of prepaid mobile phone subscribers in Hanoi accounts for 95% of the total number of subscribers, however, the results of this survey show that the percentage of prepaid subscribers has decreased by more than 20%, only at 70.8%. On the contrary, the number of postpaid subscribers tends to increase from 5% in 2009 to 19.2%. Those who are simultaneously using both types of subscriptions account for 10%. (Table 4.2).
Table 4.2: Types of mobile phone subscribers
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Valid
Prepay
591
70.8
70.8
70.8
Pay later
160
19.2
19.2
89.9
Both of the above
84
10.1
10.1
100.0
Total
835
100.0
100.0
The above figures show the change in the psychology and consumption habits of Vietnamese consumers towards mobile telecommunications services, when the use of prepaid subscriptions and junk SIMs is replaced by the use of two types of subscriptions for different purposes and needs or switching to postpaid subscriptions to enjoy better customer care services.
In addition, the majority of respondents have an average spending level for mobile phone services from 100 to 300 thousand VND (406 ~ 48.6% of total respondents). The high spending level (> 500 thousand VND) is the spending level with the lowest number of people with only 8.4%, on the contrary, the low spending level (under 100 thousand VND) accounts for the second highest proportion among the groups of respondents with 25.4%. People with low spending levels mainly fall into the group of students and retirees/housewives - those who have little need to use or mainly use promotional SIM cards. (Table 4.3).
Table 4.3: Spending on mobile phone charges
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Valid
<100,000
212
25.4
25.4
25.4
100-300,000
406
48.6
48.6
74.0
300,000-500,000
147
17.6
17.6
91.6
>500,000
70
8.4
8.4
100.0
Total
835
100.0
100.0
The statistics in Table 4.3 are similar to the percentages in the NielsenMobile survey results (2009) with 73% of mobile phone users having medium spending levels and only 13% having high spending levels.
The survey results also showed that up to 31% ~ nearly one-third of respondents said they sent more than 10 SMS messages/day, meaning that on average they sent 1 SMS message for every working hour. Those with an average SMS message volume (from 3 to 10 messages/day) accounted for 51.1% and those with a low SMS message volume (less than 3 messages/day) accounted for 17%. (Table 4.4)
Table 4.4: Number of SMS messages sent per day
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Valid
<3 news
142
17.0
17.0
17.0
3-10 news
427
51.1
51.1
68.1
>10 news
266
31.9
31.9
100.0
Total
835
100.0
100.0
Similar to sending messages, those with an average message receiving rate (from 3-10 messages/day) accounted for the highest percentage of ~ 55%, followed by those with a high number of messages (over 10 messages/day) ~ 24% and those with a low number of messages received daily (under 3 messages/day) remained at the bottom with 21%. (Table 4.5)
Table 4.5: Number of SMS messages received per day
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Valid
<3 news
175
21.0
21.0
21.0
3-10 news
436
55.0
55.0
76.0
>10 news
197
24.0
24.0
100.0
Total
835
100.0
100.0
When comparing the data of the two result tables 4.4 and 4.5, we can see the reasonableness between the ratio of the number of messages sent and the number of messages received daily by the interview participants.
4.3 Current status of SMS advertising and Mobile Marketing
According to the interview results, in the 3 months from the time of the survey and before, 94% of respondents, equivalent to 785 people, said they received advertising messages, while only a very small percentage of 6% (only 50 people) did not receive advertising messages (Table 4.6).
Table 4.6: Percentage of people receiving advertising messages in the last 3 months
Frequency
Ratio (%)
Valid Percentage
Cumulative Percentage
Valid
Have
785
94.0
94.0
94.0
Are not
50
6.0
6.0
100.0
Total
835
100.0
100.0
The results of Table 4.6 show that consumers in the inner city of Hanoi are very familiar with advertising messages. This result is also the basis for assessing the knowledge, experience and understanding of the respondents in the interview. This is also one of the important factors determining the accuracy of the survey results.
In addition, most respondents said they had received promotional messages, but only 24% of them had ever taken the action of registering to receive promotional messages, while 76% of the remaining respondents did not register to receive promotional messages but still received promotional messages every day. This is the first sign indicating the weaknesses and shortcomings of lax management of this activity in Vietnam. (Table 4.7)
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![Pre-tax Profit of Bidv Tien Giang in the Period 2011-2015
zt2i3t4l5ee
zt2a3gsnon-credit services, joint stock commercial bank
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At that time, the Branch had to set aside a provision for credit risks, which reduced the Branchs income.
Chart 2.2. Pre-tax profit of BIDV Tien Giang in the period 2011-2015
Unit: Billion VND
140
120
100
80
60
40
20
0
63.3
80.34
89.29
110.08
131.99
2011 2012 2013 2014 2015
Profit before tax
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
However, through chart 2.2, it can be seen that BIDV Tien Giangs profit is still increasing continuously, and its operating efficiency is currently leaking. This is a contribution of non-credit services, and this service segment will be increasingly focused on growth by BIDV Tien Giang to ensure the highest profit safety because credit activities have many potential risks. At the same time, focusing on developing non-credit services is consistent with one of the contents of restructuring the financial activities of credit institutions in the project Restructuring the system of credit institutions in the period 2011-2015 approved by the Prime Minister in Decision No. 254/QD-TTg dated March 1, 2012 [14]: Gradually shifting the business model of commercial banks towards reducing dependence on credit activities and increasing income from non-credit services.
2.2. Current status of non-credit service development at BIDV Tien Giang.
2.2.1. BIDV Tien Giang has deployed the development of non-credit services in recent times.
Along with the development of the Head Office, BIDV Tien Giangs products and services are constantly improved and deployed in a diverse manner to ensure provision for many different customer groups in the area: individual customers, corporate customers, and financial institutions. Typical services are as follows: Payment services, treasury services, guarantee services, card services, trade finance, other services: Western Union, insurance commissions, consulting services, foreign exchange derivatives trading, e-banking services,...
2.2.1.1. Payment services:
In accordance with the Prime Ministers Project to promote non-cash payments in Vietnam [15], banks in Tien Giang province have continuously developed payment services to reduce customers cash usage habits through card services and electronic banking services such as: salary payment through accounts, focusing on developing card acceptance points, developing multi-purpose cards, paying social insurance by transfer, paying bills through banks, etc.
Chart 2.3. Net income from payment services in the period 2011-2015
Unit: Million VND
6000
5000
4000
3000
2000
1000
0
3922 4065
4720 5084 5324
2011 2012 2013 2014 2015
Net income from payment services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Along with the technological development of the entire system, BIDV Tien Giang has a payment system with a fairly stable transaction processing speed, bringing many conveniences to customers. The results of observing chart 2.3 show that the income from payment services that the Branch has achieved has grown over the years but the speed is not high and the products are not outstanding compared to other banks. Domestic payment products such as: Online bill payment, electricity bills, water bills, insurance premiums, cable TV bills, telecommunications fees, airline tickets, etc. bring many conveniences to customers. Regarding international payment, this is an indispensable activity for foreign economic activities, BIDV Tien Giang is providing international payment methods for small enterprises producing agriculture, aquatic food and seafood that have credit relationships with banks in industrial parks in Tien Giang province such as: money transfer, collection, L/C payment.
2.2.1.2. Treasury services:
BIDV Tien Giang always focuses on ensuring treasury safety and currency security, always complies with legal regulations, and minimizes risks in operations such as: counting and collecting money from customers, receiving and delivering internal transactions, collecting from the State Bank (SBV) or other credit institutions, receiving ATM funds, bundling money, etc. BIDV Tien Giangs treasury service management department is always fully equipped with modern machinery and equipment such as: money transport vehicles, fire prevention tools, money counters, money detectors, magnifying glasses, etc. to ensure absolute safety in treasury operations, immediately identifying real and fake money and other risks that may affect people and assets of the bank and customers. In addition, implementing regulation 2480/QC dated October 28, 2008 between the State Bank of Tien Giang province and the Provincial Police on coordination in the fight against counterfeit money, in the 3-year review of implementation, BIDV Tien Giang discovered, seized and submitted to the State Bank of Tien Giang province 475 banknotes of various denominations and was commended by the Provincial Police and the State Bank of Tien Giang province [17].
Chart 2.4. Net income from treasury services in the period 2011-2015
Unit: Million VND
350
300
250
200
150
100
50
0
105 122
309 289 279
2011 2012 2013 2014 2015
Net income from treasury services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
However, as shown in Figure 2.4, income from treasury operations is not high and fluctuates. Specifically, in the period 2011-2013, net income increased and increased most sharply in 2013, then in the period 2013-2015, there was a downward trend. This fluctuation is due to the fact that fees collected from treasury services are often very low and can even be waived to attract customers to use other services.
2.2.1.3. Guarantee and trade finance services:
BIDV Tien Giang, thanks to the advantages of the province and the favorable location of the Branch, has continuously focused on developing income from guarantee services and trade finance.
Chart 2.5. Net income from guarantee and trade finance services in the period 2011-2015
Unit: Million VND
14000
12000
10000
8000
6000
4000
2000
0
5193 5695
2742 3420
8889
3992
11604 12206
5143 5312
2011 2012 2013 2014 2015
Net income from guarantee services Net income from Trade Finance
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Through chart 2.5, we can see that BIDV Tien Giangs income from guarantee services and trade finance has grown over the years. The reason is: Among BIDV Tien Giangs corporate customers, the construction industry is the industry with the highest proportion of customers after the trading industry, this is a group of customers with potential to develop guarantee services. The second group of customers is corporate customers in the fields of agricultural production, livestock and seafood processing with high import and export turnover in the area.
are the target of trade finance development. In addition, BIDV Tien Giang also focuses on continuously developing these customer groups to increase revenue for many other products and services in the future.
2.2.1.4. Card and POS services:
As a service that BIDV Tien Giang has recently developed strongly, it can be said that this is a very potential market and has the ability to develop even more strongly in the future. Card services with outstanding advantages such as fast payment time, wide payment range, quite safe, effective and suitable for the integration trend and the Project to promote non-cash payments in Vietnam. Cards have become a modern and popular payment tool. BIDV Tien Giang early identified that developing card services is to expand the market to people in society, create capital mobilized from card-opened accounts, contribute to diversifying banking activities, enhance the image of the bank, bring the BIDV Tien Giang brand to people as quickly and easily as possible. BIDV Tien Giang is currently providing card types such as: credit cards (BIDV MasterCard Platinum, BIDV Visa Gold Precious, BIDV Visa Manchester United, BIDV Visa Classic), international debit cards (BIDV Ready Card, BIDV Manu Debit Card), domestic debit cards (BIDV Harmony Card, BIDV eTrans Card, BIDV Moving Card, BIDV-Lingo Co-branded Card, BIDV-Co.opmart Co-branded Card). These cards can be paid via POS/EDC or on the ATM system. In addition, with debit cards, customers can not only withdraw money via ATMs but also perform utilities such as mobile top-up, online payment, money transfer,... through electronic banking services.
In order to attract customers with card services, BIDV Tien Giang has continuously increased the installation of ATMs. As of December 31, 2015, BIDV Tien Giang has 23 ATMs combined with 7 ATMs in the same system of BIDV My Tho, so the number of ATMs is quite large, especially in the center of My Tho City, but is not yet fully present in the districts. Basic services on ATMs such as withdrawing money, checking balances, printing short statements,... BIDV ATMs accept cards from banks in the system.
Banknetvn and Smartlink, cards branded by international card organizations Union Pay (CUP), VISA, MasterCard and cards of banks in the Asian Payment Network. From here, cardholders can make bill payments for themselves or others at ATMs, by simply entering the subscriber number or customer code, booking code that service providers notify and make bill payments.
Chart 2.6. Net income from card services in the period 2011-2015
Unit: Million VND
3500
3000
2500
2000
1500
1000
500
0
687
1023
1547
2267
3104
2011 2012 2013 2014 2015
Net income from card services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Through chart 2.6, it can be seen that BIDV Tien Giangs card service income is constantly growing because the Branch focuses on developing businesses operating in industrial parks, which are the source of customers for salary payment products, ATMs, BSMS. Specifically, there are companies such as Freeview, Quang Viet, Dai Thanh, which are businesses with a large number of card openings at the Branch, contributing to the increase in card service fees [25].
Table 2.6. Number of ATMs and POS machines in 2015 of some banks in Tien Giang area.
Unit: Machine
STT
Bank name
Number of ATMs
Cumulative number of ATM cards
POS machine
1
BIDV Tien Giang
23
97,095
22
2
BIDV My Tho
7
21,325
0
3
Agribank Tien Giang
29
115,743
77
4
Vietinbank Tien Giang
16
100,052
54
5
Dong A Tien Giang
26
97,536
11
6
Sacombank Tien Giang
24
88,513
27
7
Vietcombank Tien Giang
15
61,607
96
8
Vietinbank - Tay Tien Giang Branch
6
46,042
38
(Source: 2015 Banking Activity Data Report of the General and Internal Control Department of the Provincial State Bank [21])
Through table 2.6, the author finds that the number of ATMs of BIDV Tien Giang is not much, ranking fourth after Agribank Tien Giang, Dong A Tien Giang, Sacombank Tien Giang. The number of POS machines of BIDV Tien Giang is very small, only higher than Dong A Tien Giang and BIDV My Tho in the initial stages of merging the BIDV system. Besides, BIDV Tien Giang has a high number of cards increasing over the years (table 2.7) but the cumulative number of cards issued up to December 31, 2015 is still relatively low compared to Agribank, Vietcombank, Dong A (table 2.6).
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div.maincontent .s40 { color: black; font-family:Times New Roman, serif; font-style: normal; fo](https://tailieuthamkhao.com/uploads/2022/06/06/dich-vu-phi-tin-dung-tai-ngan-hang-thuong-mai-co-phan-dau-tu-va-phat-8-1-120x90.png)
Pre-tax Profit of Bidv Tien Giang in the Period 2011-2015
zt2i3t4l5ee
zt2a3gsnon-credit services, joint stock commercial bank
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At that time, the Branch had to set aside a provision for credit risks, which reduced the Branch's income.
Chart 2.2. Pre-tax profit of BIDV Tien Giang in the period 2011-2015
Unit: Billion VND
140
120
100
80
60
40
20
0
63.3
80.34
89.29
110.08
131.99
2011 2012 2013 2014 2015
Profit before tax
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
However, through chart 2.2, it can be seen that BIDV Tien Giang's profit is still increasing continuously, and its operating efficiency is currently leaking. This is a contribution of non-credit services, and this service segment will be increasingly focused on growth by BIDV Tien Giang to ensure the highest profit safety because credit activities have many potential risks. At the same time, focusing on developing non-credit services is consistent with one of the contents of restructuring the financial activities of credit institutions in the project "Restructuring the system of credit institutions in the period 2011-2015" approved by the Prime Minister in Decision No. 254/QD-TTg dated March 1, 2012 [14]: "Gradually shifting the business model of commercial banks towards reducing dependence on credit activities and increasing income from non-credit services".
2.2. Current status of non-credit service development at BIDV Tien Giang.
2.2.1. BIDV Tien Giang has deployed the development of non-credit services in recent times.
Along with the development of the Head Office, BIDV Tien Giang's products and services are constantly improved and deployed in a diverse manner to ensure provision for many different customer groups in the area: individual customers, corporate customers, and financial institutions. Typical services are as follows: Payment services, treasury services, guarantee services, card services, trade finance, other services: Western Union, insurance commissions, consulting services, foreign exchange derivatives trading, e-banking services,...
2.2.1.1. Payment services:
In accordance with the Prime Minister's Project to promote non-cash payments in Vietnam [15], banks in Tien Giang province have continuously developed payment services to reduce customers' cash usage habits through card services and electronic banking services such as: salary payment through accounts, focusing on developing card acceptance points, developing multi-purpose cards, paying social insurance by transfer, paying bills through banks, etc.
Chart 2.3. Net income from payment services in the period 2011-2015
Unit: Million VND
6000
5000
4000
3000
2000
1000
0
3922 4065
4720 5084 5324
2011 2012 2013 2014 2015
Net income from payment services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Along with the technological development of the entire system, BIDV Tien Giang has a payment system with a fairly stable transaction processing speed, bringing many conveniences to customers. The results of observing chart 2.3 show that the income from payment services that the Branch has achieved has grown over the years but the speed is not high and the products are not outstanding compared to other banks. Domestic payment products such as: Online bill payment, electricity bills, water bills, insurance premiums, cable TV bills, telecommunications fees, airline tickets, etc. bring many conveniences to customers. Regarding international payment, this is an indispensable activity for foreign economic activities, BIDV Tien Giang is providing international payment methods for small enterprises producing agriculture, aquatic food and seafood that have credit relationships with banks in industrial parks in Tien Giang province such as: money transfer, collection, L/C payment.
2.2.1.2. Treasury services:
BIDV Tien Giang always focuses on ensuring treasury safety and currency security, always complies with legal regulations, and minimizes risks in operations such as: counting and collecting money from customers, receiving and delivering internal transactions, collecting from the State Bank (SBV) or other credit institutions, receiving ATM funds, bundling money, etc. BIDV Tien Giang's treasury service management department is always fully equipped with modern machinery and equipment such as: money transport vehicles, fire prevention tools, money counters, money detectors, magnifying glasses, etc. to ensure absolute safety in treasury operations, immediately identifying real and fake money and other risks that may affect people and assets of the bank and customers. In addition, implementing regulation 2480/QC dated October 28, 2008 between the State Bank of Tien Giang province and the Provincial Police on coordination in the fight against counterfeit money, in the 3-year review of implementation, BIDV Tien Giang discovered, seized and submitted to the State Bank of Tien Giang province 475 banknotes of various denominations and was commended by the Provincial Police and the State Bank of Tien Giang province [17].
Chart 2.4. Net income from treasury services in the period 2011-2015
Unit: Million VND
350
300
250
200
150
100
50
0
105 122
309 289 279
2011 2012 2013 2014 2015
Net income from treasury services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
However, as shown in Figure 2.4, income from treasury operations is not high and fluctuates. Specifically, in the period 2011-2013, net income increased and increased most sharply in 2013, then in the period 2013-2015, there was a downward trend. This fluctuation is due to the fact that fees collected from treasury services are often very low and can even be waived to attract customers to use other services.
2.2.1.3. Guarantee and trade finance services:
BIDV Tien Giang, thanks to the advantages of the province and the favorable location of the Branch, has continuously focused on developing income from guarantee services and trade finance.
Chart 2.5. Net income from guarantee and trade finance services in the period 2011-2015
Unit: Million VND
14000
12000
10000
8000
6000
4000
2000
0
5193 5695
2742 3420
8889
3992
11604 12206
5143 5312
2011 2012 2013 2014 2015
Net income from guarantee services Net income from Trade Finance
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Through chart 2.5, we can see that BIDV Tien Giang's income from guarantee services and trade finance has grown over the years. The reason is: Among BIDV Tien Giang's corporate customers, the construction industry is the industry with the highest proportion of customers after the trading industry, this is a group of customers with potential to develop guarantee services. The second group of customers is corporate customers in the fields of agricultural production, livestock and seafood processing with high import and export turnover in the area.
are the target of trade finance development. In addition, BIDV Tien Giang also focuses on continuously developing these customer groups to increase revenue for many other products and services in the future.
2.2.1.4. Card and POS services:
As a service that BIDV Tien Giang has recently developed strongly, it can be said that this is a very potential market and has the ability to develop even more strongly in the future. Card services with outstanding advantages such as fast payment time, wide payment range, quite safe, effective and suitable for the integration trend and the Project to promote non-cash payments in Vietnam. Cards have become a modern and popular payment tool. BIDV Tien Giang early identified that developing card services is to expand the market to people in society, create capital mobilized from card-opened accounts, contribute to diversifying banking activities, enhance the image of the bank, bring the BIDV Tien Giang brand to people as quickly and easily as possible. BIDV Tien Giang is currently providing card types such as: credit cards (BIDV MasterCard Platinum, BIDV Visa Gold Precious, BIDV Visa Manchester United, BIDV Visa Classic), international debit cards (BIDV Ready Card, BIDV Manu Debit Card), domestic debit cards (BIDV Harmony Card, BIDV eTrans Card, BIDV Moving Card, BIDV-Lingo Co-branded Card, BIDV-Co.opmart Co-branded Card). These cards can be paid via POS/EDC or on the ATM system. In addition, with debit cards, customers can not only withdraw money via ATMs but also perform utilities such as mobile top-up, online payment, money transfer,... through electronic banking services.
In order to attract customers with card services, BIDV Tien Giang has continuously increased the installation of ATMs. As of December 31, 2015, BIDV Tien Giang has 23 ATMs combined with 7 ATMs in the same system of BIDV My Tho, so the number of ATMs is quite large, especially in the center of My Tho City, but is not yet fully present in the districts. Basic services on ATMs such as withdrawing money, checking balances, printing short statements,... BIDV ATMs accept cards from banks in the system.
Banknetvn and Smartlink, cards branded by international card organizations Union Pay (CUP), VISA, MasterCard and cards of banks in the Asian Payment Network. From here, cardholders can make bill payments for themselves or others at ATMs, by simply entering the subscriber number or customer code, booking code that service providers notify and make bill payments.
Chart 2.6. Net income from card services in the period 2011-2015
Unit: Million VND
3500
3000
2500
2000
1500
1000
500
0
687
1023
1547
2267
3104
2011 2012 2013 2014 2015
Net income from card services
(Source: Report on the implementation of the annual business plan of the General Planning Department of BIDV Tien Giang [24])
Through chart 2.6, it can be seen that BIDV Tien Giang's card service income is constantly growing because the Branch focuses on developing businesses operating in industrial parks, which are the source of customers for salary payment products, ATMs, BSMS. Specifically, there are companies such as Freeview, Quang Viet, Dai Thanh, which are businesses with a large number of card openings at the Branch, contributing to the increase in card service fees [25].
Table 2.6. Number of ATMs and POS machines in 2015 of some banks in Tien Giang area.
Unit: Machine
STT
Bank name
Number of ATMs
Cumulative number of ATM cards
POS machine
1
BIDV Tien Giang
23
97,095
22
2
BIDV My Tho
7
21,325
0
3
Agribank Tien Giang
29
115,743
77
4
Vietinbank Tien Giang
16
100,052
54
5
Dong A Tien Giang
26
97,536
11
6
Sacombank Tien Giang
24
88,513
27
7
Vietcombank Tien Giang
15
61,607
96
8
Vietinbank - Tay Tien Giang Branch
6
46,042
38
(Source: 2015 Banking Activity Data Report of the General and Internal Control Department of the Provincial State Bank [21])
Through table 2.6, the author finds that the number of ATMs of BIDV Tien Giang is not much, ranking fourth after Agribank Tien Giang, Dong A Tien Giang, Sacombank Tien Giang. The number of POS machines of BIDV Tien Giang is very small, only higher than Dong A Tien Giang and BIDV My Tho in the initial stages of merging the BIDV system. Besides, BIDV Tien Giang has a high number of cards increasing over the years (table 2.7) but the cumulative number of cards issued up to December 31, 2015 is still relatively low compared to Agribank, Vietcombank, Dong A (table 2.6).
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General Theoretical Basis of Corporate Finance and Corporate Financial Analysis. -
Financial statement analysis of VT Van Xuan Joint Stock Company - 1 -
Analysis of financial capacity and some solutions to improve financial capacity at Vietnam Telecommunications Technology Investment and Development Joint Stock Company - 5
(Source: Author's calculation according to the 2009 Dothi SJC Planning Architecture 204 No Trang Long)
From the above design, we can calculate the apartment floor area and land use coefficient. Table 3.2 will present this calculation in detail.
Table 3.2 Classification of land use purposes in the project
STT
TYPE OF LAND USE (1) | CONSTRUCTION AREA (m 2 ) (2) | FLOOR AREA (m 2 ) (3) | DENSITY CONSTRUCTION (%) (4) = (2)/S t | LAND USE FACTOR (5) = (3)/S t | |
Total land area: S t = 24,418.5 m 2 . | |||||
01 | Land for apartment building | 7593 | 119613 | 31.1 | |
02 | Land for school construction | 1100 | 2200 | 4.5 | |
Total | 8693 | 121813 | 35.62 | 5 | |
(Source: Author's calculation according to the 2009 Dothi SJC Planning Architecture 204 No Trang Long)
In addition to the construction of the project items including 7 blocks of houses, swimming pool, school and basement, the project also has to build internal roads, green parks and sports fields. TECCO believes that the convenient and harmonious traffic arrangement with the architecture, while ensuring urban planning standards will increase the value of apartments for rent as well as apartments for sale.
3.3 1 7 Architectural solutions and construction standards
The architectural solution proposed by Dothi JSC for the entire project is as follows:
- Regarding traffic, the internal alley has a right of way of 8m, the crossroad is 12m, there is a small island to separate local traffic in the project. The internal road axis has a right of way of 21m, separate 2-way traffic, separated by a row of trees in the middle of the road axis. The internal traffic system is connected to the main road axis and alleys.
- Regarding the blocks, the project will build 7 blocks, details on the construction area and number of floors are presented in Table 3.1. The basements are designed to be connected to increase the parking area, creating comfort for residents and business activities, and at the same time, future management will also be more convenient. There are many options for investors to decide to choose apartment blocks for living separately from the blocks for business rental purposes, or all blocks will reserve 2 to 3 floors for long-term rental and reserve the remaining apartments for sale.
- Regarding parks, sports grounds, and kindergartens, they are designed right next to the apartment complex and green parks and on the road axis with large and tall trees. The construction of parks, sports grounds, and kindergartens is carried out at the end, when the rough construction blocks are completed.
The construction solution that TECCO offers for the whole is as follows:
The entire project will be built according to Vietnamese construction standards. Specifically:
- TCVN 5574 – 1991: Design standards - Reinforced concrete structures.
- TCVN 2737 – 1995: Design standards - Loads and impacts.
- TCXD 40 – 1987: Construction structure of foundation.
- TCXD 4198 – 1997: Monolithic concrete design - High-rise buildings.
- TCXD 205 – 1998: Design standards - Pile foundation.
- TCXD 206 – 1998: Design standards - Bored piles.
- The roof structure is poured with monolithic concrete similar to the floors of each floor.
- Domestic electricity supply standards: 20 TCN 25 – 91 and 27 – 91.
- Power supply standards for public lighting: 20 TCN 27 – 91.
- Lightning protection standards: TCXD 46 – 1984.
- Standard TCVN 6160 - 1996 on fire prevention and fighting in high-rise buildings.
- TCVN 5738 – 1993 standard on fire alarm system – technical requirements.
- On each high-rise building, build a water tank with a capacity of 100m3 , both to store domestic water and to store water for fire fighting in case of an incident.
3.4 1 8 Calculation data related to project analysis content
5
The project will build 7 high-rise buildings, including 3 15-storey blocks, 3 20-storey blocks and 1 18-storey block and reserve at least 2 floors for office rental, commercial service area, conference hall, the remaining floors are designed as apartments, each apartment area is from 60 to 106m2 , these apartments are sold at market price during the implementation and completion of the project, because the apartments
Small-sized households have a very high demand for buying 4. The basement is designed to be connected to increase the usable area, the basement can be rented and self-managed. However, because the investor must establish a building management board after completing the project to help with the operation, maintenance, and service to residents and customers in the best way, the basement should be handed over to the management board.
5 http://vietbao.vn/The-gioi-giai-tri/Thieu-can-ho-dien-tich-nho/50789802/411/ and other market comments (accessed June 24, 2010) [15]
Marketing and advertising costs are concentrated during the project implementation so that customers can register to buy apartments during the construction period, because then the revenue from customers will be further financed for project implementation, thereby reducing debt. After the project is completed, unsold apartments will be put on the real estate trading floor to avoid marketing and advertising costs, a rather expensive expense. The project does not include infrastructure investment from the state. The investor must build internal roads, green parks, and sports fields in the project area.
Project cost calculation:
6
- The project is calculated based on the investment capital for construction of a 5- year house in 2009, which includes the necessary costs to build per 1m2 .Construction floor. The equipment cost includes the costs of purchasing and installing elevators and operating equipment, water pumps and fire protection systems.
- Construction costs of other projects such as swimming pools and schools are still calculated based on the investment rate.
- The cost of building internal roads, trees, and sports fields is specifically calculated by TECCO.
7
Because the project was appraised on October 1, 2010, and the Ministry of Construction had only announced the construction investment capital for 2009, the cost must be calculated based on the fluctuation of construction prices in the first, second and third quarters of 2010 compared to the whole year of 2009. 6 However, because the Ministry of Construction has not announced the construction price index for the first, second and third quarters of 2010, the topic considers the price fluctuation of the group of construction materials 3 in the basket of goods that make up the consumer price index (CPI) to calculate and predict construction prices in October 2010.
Construction price index as announced by the Ministry of Construction and consumer price index of construction materials group as announced by the General Statistics Office are in Table 3.3.
6 See the construction investment capital rate in 2009, announced according to Decision 411/QD-BXD dated March 31, 2010 of the Ministry of Construction [16]
7 Construction price index in 2009, announced according to Decision 410/QD-BXD dated March 31, 2010 of the Ministry of Construction [17]