The Board of Directors of Southern Inland Waterway Corporation (Sowatco, UPCoM: SWC) has approved the acquisition of nearly 5.5 million shares of Mekong – Can Tho Port, equivalent to 99.99% of its charter capital, from ITL Corporation. The transaction value will be based on the valuation certificate as of June 30, 2025, and must not exceed 10% of SWC’s total assets at that time. If it surpasses this threshold, the transaction will be submitted to the Annual General Meeting for approval.
Strong Ties with ITL – Sotrans
Mekong – Can Tho Port was established in September 2024, headquartered in Ho Chi Minh City, specializing in inland waterway freight transportation—a core business of Sowatco. Its legal representative is Mr. Le Duc Khoi (born in 1969). On June 19, 2025, the company’s charter capital was increased from VND 30 billion to VND 55 billion, entirely owned by ITL.
ITL, formerly known as Indo Tran Shipping and Forwarding Corporation, is a leading integrated logistics company in Vietnam with a charter capital of over VND 2,108 billion. It operates in international freight transportation and forwarding. The transfer of Mekong – Can Tho Port’s entire capital to Sowatco means it will become a 100% subsidiary of SWC.
Mr. Ben Anh – CEO of ITL Corporation
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This deal further highlights the close relationship within the business ecosystem linked to Mr. Tran Tuan Anh (Ben Anh), a member of Sowatco’s Board of Directors and CEO of ITL. He also serves as Chairman of Southern Logistics Corporation (Sotrans, HOSE: STG), a major shareholder of Sowatco with an 8.94% stake. Sotrans’ wholly-owned subsidiary, Sotrans Infrastructure Investment Company, holds an 84.39% stake in SWC. Meanwhile, ITL is the parent company of Sotrans, owning 69.32% of its capital.
Record-High Semi-Annual Profit in 8 Years
As of June 2025, Sowatco owns 4 direct subsidiaries and 3 joint ventures, operating in various sectors including construction, shipbuilding services, port services, transportation, and logistics. The company has a strong presence in inland waterway transportation, boasting a large fleet and port system.
In the first half of 2025, Sowatco recorded a revenue of VND 535 billion, a 5% increase year-on-year and the highest in its history, achieving 44% of the annual plan. Its net profit reached VND 143 billion, the highest semi-annual profit in 8 years, up 23% and exceeding 52% of the annual target.
| SWC’s Semi-Annual Business Results |
On the stock market, SWC shares are trading at around VND 31,800 per share, up 21% over the past year, with an average daily liquidity of over 14,000 shares. In late August 2025, the stock reached an all-time high of VND 35,000 per share, nearly double its low in early April, before correcting by 9% to its current level.
| SWC’s Stock Price Performance Over the Past Year |
– 09:02 30/09/2025
“SWC Finalizes Cash Dividend with a Payout of VND 3,500 per Share”
Southern Waterways Joint Stock Company (UPCoM: SWC) will finalise the list of shareholders eligible for the 2024 cash dividend payout at a rate of 35% (equivalent to VND 3,500 per share). The ex-dividend date is set for August 28, and payments will be made starting from September 15.
