In its latest announcement, Viettel Post Joint Stock Corporation (Viettel Post, stock code: VTP) published the Board of Directors’ resolution regarding an investment project and the establishment of a cross-border logistics and transportation company in the Lao People’s Democratic Republic.
The subsidiary, Viettel Post Laos Co., Ltd., will operate in the field of courier services, warehousing, domestic and international freight forwarding, goods trading and services, e-commerce, import and export, and freight forwarding services in Laos.
Viettel Post will contribute over VND 136 billion, equivalent to 5.34 million USD, representing 100% of the charter capital of Viettel Post Laos. The capital contribution will be made entirely in cash, sourced from the company’s equity.
Earlier this year, Viettel Post revealed plans to expand into Laos and Thailand. By March, Viettel Post had signed cooperation agreements with the governments of Pingxiang City and Nanning City (Guangxi, China), establishing representative offices and constructing a China-ASEAN agricultural product trading center. Viettel Post will also connect agricultural produce from Vietnam and other ASEAN countries (Laos, Myanmar, and Cambodia) via railway lines, with goods assembled in Nanning for distribution to other Chinese provinces.
Regarding business performance , in the first half of 2024, Viettel Post recorded revenue of nearly VND 9,620 billion, a slight decrease compared to the same period last year. Six-month after-tax profit decreased by 12% to VND 152 billion, completing about 41% of the full-year profit plan. Viettel Post aims to increase its market share in the delivery sector to 19.5% by the end of 2024 and plans to develop a national-level logistics system.
Regarding senior management, the Board of Directors of Viettel Post has decided to appoint Mr. Nguyen Viet Dung as Chairman of the Board for the term 2024-2029, effective from August 26, 2024. This appointment follows the resignation of Mr. Nguyen Thanh Nam, who stepped down from the position on August 17 for personal reasons.
In the stock market, VTP shares closed the trading session on September 6 at VND 75,200 per share, up 32% since the beginning of the year.
Celebrating 79 Years of Independence: Nurturing the Strong Bonds of Friendship Between Vietnam and its Allies
Over the past few days, the Embassy of Vietnam in many countries celebrated the 79th National Day of the Socialist Republic of Vietnam (September 2, 1945 – September 2, 2024).
Why Did the Chairman of Viettel Post Resign?
Prior to assuming the role of Chairman of Viettel Post, Mr. Nguyen Thanh Nam served as the Vice President of the Military-run Telecoms Industry Corporation (Viettel).
The Brigadier General and Chairman of Viettel Post Retires Early
Major General Nguyen Thanh Nam, Chairman of the Board of Members of Viettel Post Joint Stock Corporation, has stepped down from his position due to personal reasons. Mr. Nam (aged 55) retired on August 1st, as per his request.
