T&T invests in wind power in Laos; VIMC records profits; Vingroup establishes robotics company
SK Investment is no longer a major shareholder of Vingroup; T&T Group invests in the first wind power project in Laos; VIMC records high profits; VNG establishes another programming subsidiary...
T&T Group invests in first wind power project in Laos
The Lao Ministry of Planning and Investment has just awarded the concession contract for the Savan 1 wind power project to Savan 1 Wind Power Company Limited - a member unit of T&T Group.
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| The Lao Ministry of Planning and Investment awarded the concession contract for the Savan 1 wind power project to Savan 1 Wind Power Company Limited. |
Under the concession contract, the Lao Government agreed to allow Savan 1 Wind Power Company Limited to design, construct, own and operate the Savan 1 wind power project with a contract term of up to 25 years to export electricity to Vietnam.
The project is being implemented in Phin district, Savannakhet province, Laos with a total installed capacity of up to 495 MW and a total investment of about 768 million USD. According to the plan, phase 1 of the project has an installed capacity of 300 MW, a total investment of more than 490 million USD and will be put into commercial operation by the end of 2025.
Ms. Nguyen Thi Thanh Binh, Deputy General Director of T&T Group, Chairwoman of Savan 1 Wind Power Company Limited, said that the signing of the Savan 1 wind power project franchise contract with the Lao Government is an important milestone, marking the beginning of T&T Group's "cross-border" energy investment strategy.
“Savan 1 Wind Power Plant will be a pioneer project and the foundation for the Group to continue investing in many other energy projects in Laos in the coming time,” Ms. Nguyen Thi Thanh Binh emphasized.
This is the largest onshore wind power project that T&T Group has invested in to date, contributing to expanding T&T Group's investment portfolio to realize the goal that by 2035, the total power generation capacity of renewable energy and low-carbon emission power plants is expected to reach about 12-15 GW, accounting for about 10% of the total installed capacity of Vietnam's power system.
Currently, domestically, T&T Group has put into operation 10 wind and solar power projects in the provinces of Ninh Thuan, Binh Thuan, Soc Trang, Gia Lai, ... with a total installed capacity and connection to the national grid reaching nearly 1,000 MW. In addition, T&T Group is also in a joint venture with KOGAS, KOSPO, HANWHA (Korea) to implement the Hai Lang LNG gas power project Phase 1 with a capacity of 1,500 MW, with an investment capital of about 2.5 billion USD.
VIMC record high profit
In 2024, Vietnam National Shipping Lines (VIMC) had a record high profit of VND 4,940 billion. The above information was reported by General Director Nguyen Canh Tinh at VIMC's 2024 year-end conference.
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| In 2025, VIMC aims to focus on investing in developing the seaport system. |
According to Mr. Tinh, although the world situation continues to be complicated and unpredictable; strategic competition is fierce; conflicts are escalating in many regions; prices of gasoline, basic goods, and transportation costs fluctuate sharply; economic and trade recover slowly... However, in 2024, VIMC recorded very positive business results.
Specifically, the maritime transport output handled by the VIMC fleet reached 20 million tons, exceeding the annual plan by 22%. In the seaport sector, the cargo throughput is estimated at 145 million tons, up 26% over the same period and exceeding the annual plan by 17%.
As a result, total revenue of VIMC is estimated at VND24,813 billion and profit at VND4,940 billion. Average income reached VND18.2 million/person/month, of which the parent company reached VND25.1 million/person/month, exceeding the plan by 9%.
VIMC General Director said that although the fleet capacity has decreased, due to the promotion of outsourcing activities in many forms, the sea transport output has far exceeded the plan since the beginning of the year. In 2024, VIMC Lines will expand its operations and develop service routes connecting Malaysia, Singapore and Indonesia.
In 2024, VIMC's key projects will be accelerated and basically progress according to the set plan. In particular, with the investment project to build container terminals No. 3 and No. 4 at Lach Huyen Port, Hai Phong City, VIMC is completing bidding packages, installing equipment and preparing port opening procedures, putting into operation in the first quarter of 2025 as planned.
With the Can Gio international transit port project, up to now, the project has basically resolved the related procedures. In 2025, VIMC will coordinate with partners to complete investment preparation procedures and be selected as an investor.
Regarding the orientation for 2025, VIMC will focus on implementing development investment projects, such as Lach Huyen port, Lien Chieu port, Can Gio international port, etc. The enterprise will continue to invest in new ships or buy old ships in accordance with the fleet development strategy, prioritizing new generation ships that are fuel-efficient and environmentally friendly.
SK Investment is no longer a major shareholder of Vingroup.
SK Investment Vina II Pte. Ltd. announced the transaction of VIC shares of Vingroup Corporation – JSC. Accordingly, SK Investment registered to sell 50.86 million VIC shares, reducing the number of shares held from 231.47 million units to 180.61 million units.
The ownership ratio will decrease from 6.05% to 4.72% and thereby no longer be a major shareholder.
SK Investment said the transaction is for the purpose of restructuring its investment portfolio and will be carried out by negotiation between January 16 and February 14.
Commenting on this information, Mr. Nguyen Viet Quang, Vice Chairman of the Board of Directors and General Director of Vingroup Corporation, shared: “As far as we know, SK's share sale this time is part of the strategy to re-plan the partner's investment portfolio in international markets in general. SK still expresses confidence in the potential of the Vietnamese market in general and Vingroup in particular with diverse business opportunities and leading position in most business areas. For Vingroup, SK is still an important partner. The two sides are still discussing a number of cooperation opportunities to maximize development potential in the coming time.
Before the divestment from Vingroup, in November 2024, SK Group successfully transferred 76 million MSN shares of Masan Group through an agreement. After the transaction, SK Group's ownership ratio at MSN is 3.67% of charter capital and is therefore no longer a major shareholder at MSN.
SK Group also transferred 7.1% of WinCommerce (WCM) shares to Masan Group for 200 million USD, equivalent to valuing WCM at more than 2.8 billion USD.
In addition, SK Group is also considering selling 65% of its capital in Imexpharm Pharmaceutical JSC (IMP). The Korean group is working with a financial advisor on the deal. They are also contacting pharmaceutical companies and private equity funds to survey interest in the transfer.
Billionaire Pham Nhat Vuong establishes company to develop multi-purpose robots
VinMotion Multi-purpose Robot Research, Development and Application Joint Stock Company is headquartered in Long Bien, with a charter capital of VND1,000 billion. Vingroup's capital contribution ratio at VinMotion is 51%.
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| Vingroup Chairman Pham Nhat Vuong continuously establishes new enterprises in the high-tech industrial ecosystem. |
At the end of November last year, Vingroup also officially announced the establishment of VinRobotics Robotics Research, Development and Application Joint Stock Company with a charter capital of VND1,000 billion. Of which, Vingroup holds 51% of shares, Mr. Pham Nhat Vuong contributes 39% of shares, and Mr. Pham Nhat Quan Anh and Mr. Pham Nhat Minh Hoang each have 5% of shares.
The position of General Director of VinRobotics is held by Mr. Ngo Quoc Hung.
Since the beginning of 2024, Vingroup Chairman Pham Nhat Vuong has continuously established new enterprises in the high-tech industrial ecosystem.
In March 2024, a company was established to develop V-GREEN charging stations, with the aim of supporting VinFast in entering the global market. Then, a company to buy, sell, and rent electric cars and a company to teach driving electric cars.
Most recently, at the end of November, Mr. Vuong’s two sons, Pham Nhat Quan Anh and Pham Nhat Minh Hoang, contributed capital to establish the robot development company VinRobotics. This move contributes to completing the high-tech industrial ecosystem, one of the three main pillars of the group. VinRobotics CEO Ngo Quoc Hung believes that in the technology era, products and solutions with high intellectual content will contribute to economic and social development.
In the technology sector, Vingroup has built a dense ecosystem. The most prominent is VinAI - a company that creates products applied to VinFast electric cars and Vinhomes housing projects. Previously, billionaire Pham Nhat Vuong's portfolio also included VinBrain, which also operates in the field of artificial intelligence. This company was recently 100% acquired by Nvidia and appointed Tax Director Mark Steven Hoose as Chairman and legal representative.
VNG establishes another programming subsidiary
VNG Corporation has approved the capital contribution to establish a subsidiary, named 2Morebits Company Limited.
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| Mr. Le Hong Minh, Chairman and Founder of VNG, takes on the position of Chairman of 2Morebits |
Headquarters are expected to be located at Nguyen Chi Thanh, Dong Da, Hanoi. Charter capital is 20 billion VND, all from VNG. The company operates in the field of computer programming and other industries in accordance with the provisions of law.
Mr. Le Hong Minh, Chairman and Founder of VNG, was appointed as the representative to manage VNG's capital contribution at 2Morebits, and concurrently hold the position of Chairman of the Company.
Previously, Mr. Minh returned to the position of Chairman of the Board of Directors of VNG at the end of November 2024 after nearly 2 years of transferring this position to Mr. Vo Sy Nhan to take on the position of General Director.
In terms of business performance, VNG achieved nearly VND 2.6 trillion in revenue in the third quarter of 2024, up 32% year-on-year. Despite a loss after tax of VND 11 billion, this is still a positive result compared to a loss of nearly VND 650 billion in the same period. In the first 9 months of 2024, VNZ's revenue reached nearly VND 6.9 trillion, up nearly 31%; loss after tax decreased sharply to nearly VND 597 billion (the same period lost nearly VND 1.9 trillion).
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