FPT gets back the 708-billion-dong- deposit at EVN

The two companies made continuous negotiation during the third quarter last year and finally agreed that EVN would return the entire deposit sum to FPT. All the necessary transactions were completed last December.

CEO Truong Dinh Anh of FPT Corporation shared that the company was seeking for M&A deals and expanding business in 2012. Especially, it would invest 500 to 700 billion dongs in M&A activities and 250 billion dongs in 150 digital retail shops.

In telecommunications, it will invest 220 billion dongs in the international optic cable system - Asia Pacific Gateway (APG) which input is located in Da Nang and will come in to use in 2014 and 350 billion dongs in building its telecom backbone infrastructure.

FPT will also invest 100 billion dongs to expand telecommunications services to 8 provinces and cities in Vietnam and 200 billion dongs to build telecom infrastructure in four large cities in Cambodia.

In addition, the company will enhance its facilities including the university campus and software center in Hoa Lac hi-tech park from 2012 to 2014 and a telecom operation center in Tan Thuan Export-Processing Zone in District 7, Ho Chi Minh City by the end of 2012.

In 2010, FPT intended to invest in EVN Telecom to expand to mobility business. However, this project was assessed unprofitable and was canceled in April 2011.

CEO Truong Dinh Anh disclosed that the company would still seek for other opportunities to enter the mobile telecom market from two perspectives: M&A and/or applying for license for the next mobile network generation.

FPT has finished FY2011 with good results. The corporate business performance will be released after Tet holiday.