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Tag: Vingroup

Retail Asia01/11/2022
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Real Estate

Vingroup revenues down 5%

2min0
Vingroup, Vietnam’s biggest private conglomerate, made total consolidated net revenues of VND88.191 trillion ($3.56 billion) in the first nine months, posting a year-on-year decline of nearly 5%. Vingroup gained after-tax profits of VND1.571 trillion, according to its latest consolidated financial statements. By the end of September, the firm’s total assets stood at VND555.571 trillion, up […]
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Retail Asia31/01/2022
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General

Vingroup reports first-ever loss

2min0
Vingroup made after-tax losses of over VND7.5 trillion ($326 million) in 2021, its first-ever loss, citing funding for the pandemic fight and heavier investments in electric car development. Vietnam’s biggest private conglomerate’s net revenues stood at VND125.306 trillion last year, up 13 percent over 2020. Vingroup said some of its businesses, including real estate for […]
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Retail Asia16/09/2021
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General

Vingroup launches Big Data research company

1min0
The Vingroup Corporation (VIC), Vietnam’s largest private conglomerate, has set up a new firm – VinBigData Jsc – with a chartered capital of VND470.8 billion ($20.29 million). The group will hold a 99 percent stake in the new company. The formation of VinBigData is based on the separation of a part of science and technology […]
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Retail Asia08/06/2021
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Living

Vingroup sets up drug company

1min0
Vietnam’s largest private company, Vingroup, has established pharmaceutical company Vinbiocare with a charter capital of VND200 billion ($8.6 million). Its focus will be on medicine, vaccines. Vingroup owns 69 percent of Vinbiocare Biotechnology JSC, its formal name, which is headquartered in Hanoi, while Phan Quoc Viet, CEO of tech firm Viet A Technology Corporation, owns 30 […]
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Retail Asia11/05/2021
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Electronics

Vingroup shuts down smartphone, TV manufacturing

2min0
Vietnam’s biggest private conglomerate, Vingroup, will stop manufacturing smartphones and televisions, focusing instead on producing equipment for VinFast cars. Its VinSmart unit, established nearly three years ago, will start making “infotainment” features for VinFast cars to make them more competitive in the global market, Vingroup said in a statement Sunday. VinSmart will also research, design, […]
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Retail Asia24/03/2021
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Electronics

Vingroup eyes $500 mln convertible bond issue in Singapore

2min0
Vietnam’s biggest private conglomerate, Vingroup, is seeking shareholders’ approval to raise $500 million by issuing international redeemable convertible bonds. The bonds will be issued this year and listed in Singapore, but will not be traded in Vietnam. The first-ever international bond issuance by Vingroup, which has interests in property development, automobiles and smartphones, will have […]
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Retail Asia03/02/2021
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Automotive

Cars, phones deliver one-fifth of Vingroup revenues

1min0
Automobiles and smartphones accounted for 19 percent of private conglomerate Vingroup’s revenues in the last quarter of 2020. This marked a 40 percent year-on-year increase to VND6.9 trillion ($299.45 million). The largest private conglomerate in Vietnam sold 31,500 cars last year, with its VinFast sedan and SUV models among the bestsellers in their respective segments. […]
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Retail Asia08/07/2020
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Telecom

Vingroup produces first 5G smartphones

2min0
VinSmart, a subsidiary of Vietnam’s largest listed company Vingroup, has produced its first 5G smartphones in cooperation with the U.S.’s Qualcomm. The Vsmart Aris 5G model is equipped with a Snapdragon 765G 5G module platform and a quantum security chip, the company stated, adding it also features a Super Amoled 6.39″ display, 8GB RAM and […]
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Retail Asia06/01/2020
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General

Vingroup airline expects profits in 3 years

3min0
Vingroup’s Vinpearl Air, a $200 million venture, is seeking to launch its first flight in July with expectations of turning profitable by 2023. The new airline could also recover its investment in 5-6 years, according to an evaluation report recently submitted to the Prime Minister by the Ministry of Planning and Investment. The airline will […]
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Retail Asia11/12/2019
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General

Vingroup, Masan to form Vietnam’s biggest retail group

3min0
Vietnamese business giant Vingroup has agreed to merge its retail and agriculture unit with Masan Consumer Holdings, aiming to form Vietnam’s biggest retailer. The deal has the effect of spinning off Vingroup’s retail assets into a new company in which it will hold a minority stake, freeing Vietnam’s largest privately-owned to focus on its industrial […]
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Retail Asia28/11/2019
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Electronics

Vingroup unit partners with Google to make TVs

2min0
VinSmart, a unit of private conglomerate Vingroup, will produce smart televisions in partnership with Google, the company announced Wednesday. The partnership will allow the electronics producer to develop its Vsmart TVs on Google’s Android operating system. VinSmart is set to release the first five models, which have 4K resolution and Google Assistant in Vietnamese, next […]
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Retail Asia18/11/2019
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Electronics

Vingroup begins making smart televisions

2min0
VinSmart, the smartphone producing unit of Vietnam’s biggest private conglomerate Vingroup, has revealed its first 55-inch smart TV. The smart TVs are currently being manufactured in a factory in Hanoi’s Hoa Lac Industrial Park, and are set to be released around December this year, according to a Vingroup source who wished to remain anonymous. They […]
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Retail Asia08/10/2019
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Finance

Vingroup unit licensed to offer e-wallet services

2min0
Vingroup’s loyalty program VinID has been permitted to operate e-wallet services, furthering the private conglomerate’s foray into cashless payment. VinID acquired local payment firm People Care Jsc in May. It also owns People Care’s e-wallet MonPay, and has replaced the management board of the payment firm with its own executives since the end of last year. Vingroup established […]
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Retail Asia30/09/2019
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General

GIC buys into Vietnam’s Vingroup retail group

1min0
A GIC-led investment group has purchased a minority shareholding in a Vingroup JSC retail business for US$500 million. The Vietnamese business, VCM Services and Trading Development JSC, is a recent venture set up to oversee the group’s VinMart-branded supermarket and convenience store chains. A statement by the Singapore sovereign wealth fund released last week stated […]
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Retail Asia19/09/2019
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General

Vietnam’s Vingroup buys Queensland mart

1min0
Vietnamese business empire Vingroup has acquired local supermarket business Queenland Mart via its retail unit Vincommerce. The move will expand the firm’s retail market share, following its recent purchase of the Shop&Go convenience store chain that brought 87 new locations under Vingroup’s wingspan. Queenland Mart has eight stores located in the city’s more affluent neighborhoods. […]
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