Viettel earns VND50 billion on Trung Van apartment sales

November 28, 2017 | 11:40

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Military-run mobile operator Viettel reported an after-tax profit of VND49.48 billion ($2.18 million) from selling the apartments at CT2 Building at Trung Van New Urban Area located in Hanoi's South Tu Liem district.

Viettel made hefty profit by selling apartments to its staff

Previously, according to the Conclusion No.1203/KL-TTCP published on May 16, 2017 by the Government Inspectorate of Vietnam, Viettel suffered a loss of VND40.63 billion ($1.79 million) after investing and then divesting from the project. The Government Inspectorate of Vietnam proposed the Ministry of National Defence to ask Viettel to review its after-tax profit from selling apartments at the CT2 project.

According to a representative of Viettel, in early October, Viettel conducted the review of financial data from the 2011-2014 period, and confirmed that the after-tax profit of VND49.48 billion ($2.18 million) came from selling apartments at CT2 Building at the Trung Van project to its staff. Simultaneously, Viettel has enough data to prove the above profit figure and is willing to take responsibility for the legality of the above-mentioned data.

Viettel added that it recovered the total proceeds of VND154.84 billion ($6.8 million) after divesting from the project, VND12.44 billion ($547,606) higher than the initial investment capital, ensuring the safety of the investment capital according to the investment planning approved by the Ministry of National Defence.

Viettel is currently the No.1 Vietnamese brand in technology and telecommunications, and has valiantly fought its way to the Top 100 most valued telecom companies around the world. It has made large contributions to national production and facilitated national defence as well as co-operated with other factories and agencies to invest in qualified projects.

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By By Ha Vy

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