Viettel Global set to conquer one or two new markets in 2016
(VNF) - The Viettel Global Investment Joint Stock Company (Viettel Global) suggested paying a pidend of 10 per cent in cash, a good rate compared with other enterprises and 1.5 times the bank interest rates for 12-month deposits, during its shareholder meeting on April 26th.
It also targets entering one or two more new markets in 2016.
The financial report showed that turnover from Viettel Global’s international operations in 2015 increased by 9% to USD1.4 billion, nearly four times the international telecom industry’s annual growth of 2.3%.
With around 16.5 million subscribers (a growth of 27%, a six times higher than the international average, it earned pretax profits of USD58 million.
The pretax profit target is USD51.4 million, 90% of that of last year, because Viettel Global will continue to implement its strategy of market expansion, thus increasing the advantages brought by market size and creating favourable conditions for promoting Viettel Group’s research and development.
Besides, Viettel Global will invest in telecom infrastructure in Myanmar, which is considered the most promising market with the biggest population of any of Viettel’s existing international markets. This is also a market that is growing at high speed, with demand for data usage increasing as 60% of the population now owns a smart phone.
The company’s board of Directors also tabled a plan to increase registered capital by VND8 trillion (around USD360 million) through selling shares to Viettel Group. An increase in registered capital of VND10 trillion (around USD450 million) was approved in 2015 to meet the company’s investment needs in large markets in 2016./.