VNG deposits almost 122 billion investments in Tiki | Finance – Business

vietnam September 2, 2018 Business Leave a comment



According to the separate financial statement mid-2018, by the end of 2017, after the e-commerce corporation from China JD.com invested $ 50 million in Tiki, VNG continued to invest more than EUR 121.8 billion on the fourth largest e-commerce platform in Vietnam. Until the end of June, VNG invested more than 506 billion VND to own 28.8% of the shares in Tiki.

This is also the largest investment by VNG in an associated company. The company said that the value of shares and investments in Tiki has increased several times. However, according to data from VNG's semi-annual financial statements, at the end of June the recognized loss of TiKi would amount to EUR 321 billion.

After the first half of this year, VNG achieved a net turnover of more than VND2.065 billion and a net profit of VND241 billion, a decrease of more than 50% compared to last year. The core activity of VNG is games with only VND 1,682 billion compared to VND 1,779 billion in the first six months of 2017. However, the good spot is that VNG's online advertising revenues have risen sharply to almost VND314 billion compared to VND239 billion. in the same period last year.

The company explained that, in addition to the decline in game revenues from the digital content market, other factors such as operating costs, personnel costs and marketing costs rose sharply in new markets. VNG invests in Thailand, Myanmar … so profits fell in the first 6 months compared to the same period in 2017.

In addition, the financial statements also show that VNG has reclaimed the loan for Le Hong Minh, chairman of the board of directors. Director-General is 249 billion and VNG has also completed the withdrawal of VND21.5 billion from Tiki. As a result, the short-term receivables of the company fell sharply.


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VNG deposits almost 122 billion investments in Tiki | Finance – Business

vietnam September 2, 2018 Business Leave a comment



According to the separate financial statement mid-2018, by the end of 2017, after the e-commerce corporation from China JD.com invested $ 50 million in Tiki, VNG continued to invest more than EUR 121.8 billion on the fourth largest e-commerce platform in Vietnam. Until the end of June, VNG invested more than 506 billion VND to own 28.8% of the shares in Tiki.

This is also the largest investment by VNG in an associated company. The company said that the value of shares and investments in Tiki has increased several times. However, according to data from VNG's semi-annual financial statements, at the end of June the recognized loss of TiKi would amount to EUR 321 billion.

After the first half of this year, VNG achieved a net turnover of more than VND2.065 billion and a net profit of VND241 billion, a decrease of more than 50% compared to last year. The core activity of VNG is games with only VND 1,682 billion compared to VND 1,779 billion in the first six months of 2017. However, the good spot is that VNG's online advertising revenues have risen sharply to almost VND314 billion compared to VND239 billion. in the same period last year.

The company explained that, in addition to the decline in game revenues from the digital content market, other factors such as operating costs, personnel costs and marketing costs rose sharply in new markets. VNG invests in Thailand, Myanmar … so profits fell in the first 6 months compared to the same period in 2017.

In addition, the financial statements also show that VNG has reclaimed the loan for Le Hong Minh, chairman of the board of directors. Director-General is 249 billion and VNG has also completed the withdrawal of VND21.5 billion from Tiki. As a result, the short-term receivables of the company fell sharply.


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