Viettel Global to invest $800m in Myanmar

Visual from website

Vietnam’ s telecom company Viettel Global is setting up a joint-venture with Myanmar investors to build a $1.8 billion mobile network in Myanmar. This was disclosed in the company’s recent shareholders meet.

According to the terms of the deal, Viettel Global will directly invest $800 million and the remaining $ one billion will be raised from foreign investors and Viettel Myanmar.

As the size of the investment is larger than 50 per cent of the total assets recorded in Viettel Global’ s latest audit report, it was required that Viettel Global consult its shareholders before signing the contract.

However, Viettel (the parent company) owns 97.58 per cent equity stake in Viettel Global,  so the plan was easily adopted by the shareholders.

According to the company website, Viettel Global currently invests in eight countries with five official markets including: Cambodia, Laos, Haiti, Mozambique and East Timor. The remaining markets, Cameroon and Burundi, will be in operation by the fourth quarter of 2014 and third quarter of 2015 respectively; whilst the project in Tanzania is still in the paperwork stage (to build network infrastructure).

In the first nine months of 2014, Viettel Global reported net sales of VND 10.1 trillion, in which VND 2.1 trillion is profit before tax.

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.