Myanmar is the Viettel Global’s largest foreign market (Photo: VNA) Hanoi (VNA) - Viettel GlobalInvestment JSC, a subsidiary of Viettel Military Industry and Telecoms Group,reported revenue of 4,428 billion VND (188.6 million USD) and profit of 1,342billion (57.1 million USD) in the third quarter of 2018, increases of 5 and 8 percentyear-on-year.
Besides traditionalmarkets which brought high profits to Viettel Global, Viettel Burundi and ViettelHaiti achieved strong revenue growth of 14 percent and 26 percent,respectively.
In Haiti, the allotmentof the 1700 MHz frequency for its 4G network this year gave Viettel’s Natcom animportant advantage and it signed up double the number of customers it did lastyear.
Viettel Global’s salesand management costs have reduced by 4 percent and 12 percent this year afteradopting a new business model.
It has hired ViettelTelecoms to run its operations in foreign markets to take advantage of itsresources and operational experience in Vietnam, and has retained only thefunctions of strategising, managing finances, and exploring and investing inforeign markets.
Its income fromfinancial investments increased by 54 percent in the third quarter.
By the end of the thirdquarter, Viettel Global had a chartered capital of 30,438 billion VND (1.29billion USD) and total asset of 59,029 billion VND (2.51 billion USD), up 13.6percent as compared to the figure at the year’s beginning.
Viettel Global’s turnoverin the first nine months was down 5 percent to 12,432 billion VND (529.7million USD), and the company reported a loss of 812 billion VND (34.6 millionUSD) as against a profit of 273 billion VND (11.6 million USD) in the sameperiod last year.
The loss was because ofMytel, its company in Myanmar, which only began operations in June 2018 and hasyet to break even.
Myanmar is the company’slargest foreign market and Viettel Global pins high hopes on it because thecountry has a large population.
Mytel signed up 3.2million subscribers in just the first three months and Viettel has set itssights on breaking even in 2-2.5 years against its average of three years.
In terms of turnover,Africa, where it has presence in Cameroon, Tanzania, Mozambique, and Burundi,was the main contributor with 5,606 billion VND (238.8 million USD).
It is followed bySoutheast Asia where Viettel Global has joint ventures in Cambodia and East Timor with 4,544 billion VND(193.6 million USD) and Latin America with 1,685 billion USD (71.8 million USD).
Viettel provides 4Gservices in nine foreign markets, except Cameroon, and electronic walletservices in eight, except Haiti and Myanmar.
It has set itself a goalof expanding to reach a population of 400-500 million and becoming one of the10 top telecom players in the world. It already is among the top 30 in terms ofnumber of customers.-VNA
VNA
