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Local tech stock FPT turns 20
The Corporation for Financing and Promoting Technology (FPT), listed as a blue chip stock on the HCM City Stock Exchange, held its 20 th anniversary on Sept. 11, a significant mark in the development of local technology production and distribution.
Over 20 years, FPT has set up its own trademark as the most prestigious distributor of many well-known technology brands in the world such as Microsoft, IBM, and Hewlett-Packard (HP).
Distribution has become one of FPT’s key businesses, accounting for the majority of the corporation’s turnover. This year, the corporation projects to earn nearly 35 million USD from this sector alone.
”We will continue focusing on this sector in the future by cooperating with other well-known technology groups worldwide. FPT trademark will also be expanded overseas,” said FPT’s General Director Bui Quang Ngoc.
In 2002, FPT launched its first fully-assembled computer FPT Elead, helping the corporation tap into the computer assembly sector. This sector was developed further when FPT inked a deal in 2007 with HP and NEC to be a centre of computer assembly for the two companies.
In 2006, FPT signed with US-based Microsoft as a strategic partner. The agreement also helped FPT expand its trademark in the US by opening a representative office over there.
”What we have achieved in 20 years is thanks to the help of all of our members. We highly appreciated the efforts of each member, and will try harder to achieve more success in the future,” Ngoc said.
At the anniversary meeting, FPT highlighted its listing and the opening of subsidiary financial institutions.
In 2006, FPT officially listed 60.81 million shares on the HCM City Stock Exchange with an offering price of 400,000 VND. The share is now considered as a big stock with its performance impacting the development of the market.
”Through the listing, we promoted our corporation’s competitiveness in the local market, and expanded our marketing strategy to foreigners,” said Ngoc.
In addition, the listing brought FPT an effective channel of capital mobilisation for its projects, he added. “Though the contribution from the listing was small, it really gave us advantages in doing businesses.”
During the last two years, FPT began tapping into the business of finance, with the establishment of FPT Securities, FPT Capital Fund and Tien Phong Bank.
“The expansion into finances is helping us finance ourselves in the future. As well, the expansion has provided us with additional knowledge in doing points of producing and distributing technology,” Ngoc said.
VNA
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