Saigontel (SGT) Shifts to Data Centers and UAVs, Plans VND 3,000B Capital Raise

Overview

Saigontel (SGT) has approved retaining all 2025 profits and outlined a strategic shift into digital infrastructure, including partnerships with Korean firms for server production, data centers, and unmanned aerial vehicle (UAV) development. The company plans a capital raise of VND 2,000-3,000 billion to fund this expansion, targeting 2026 revenue of VND 2,000 billion and pre-tax profit of VND 500 billion.

Key Facts

• At its 2026 Annual General Meeting on April 15, Saigontel approved retaining all undistributed cumulative profit of nearly VND 674 billion for reinvestment instead of paying dividends.
• The company set 2026 targets of VND 2,000 billion in total revenue and VND 500 billion in pre-tax profit, with main revenue expected from land handovers at industrial zones.
• Saigontel plans to sign memoranda of understanding (MOUs) in Q2 2026 with G-Group and KTNF for server production in Vietnam, and with Daewoo E&C for data center development via EPC and co-investment models.
• Additional partnerships with Hanwha Systems and Meta Network will focus on research and production of UAVs, PTZ camera systems, and hydroacoustic positioning equipment.
• The company plans to raise VND 2,000-3,000 billion through loans from BIDV, VietinBank, and VPBank, plus international investment cooperation capital estimated at VND 500-1,500 billion.
• Shareholders approved a 1:1 stock dividend issuance to raise over VND 1,400 billion, with VND 762 billion earmarked for investment in Vietnam Green Growth JSC and the remainder for debt repayment.
• For the 2025 financial year, consolidated pre-tax profit reached VND 499.9 billion, with parent company post-tax profit at VND 327.1 billion and basic earnings per share of VND 2,249.

What Happened

At its Annual General Meeting of Shareholders on April 15, 2026, Saigon Telecommunications and Technology Corporation (Saigontel) secured shareholder approval for all proposals, including retaining all 2025 profits and implementing a strategic shift into digital infrastructure. According to the company filing, Saigontel will retain nearly VND 674 billion in undistributed cumulative profit to reinvest in key portfolios and supplement working capital for 2026, rather than paying dividends.

The company outlined specific partnership plans to execute this strategy, with MOUs expected to be signed in the second quarter of 2026. These include collaborations with Korean firms G-Group and KTNF for server production in Vietnam, and with Daewoo E&C for data center development through both engineering, procurement, and construction (EPC) and co-investment models. Additionally, partnerships with Hanwha Systems and Meta Network will focus on researching and manufacturing UAVs, PTZ camera systems, and hydroacoustic positioning equipment.

Market Context

Saigontel (SGT) trades on the Ho Chi Minh Stock Exchange (HOSE) and operates primarily in industrial real estate and technology sectors. The strategic announcement comes as the company reported solid 2025 financial results, with consolidated pre-tax profit of VND 499.9 billion. The shift toward digital infrastructure aligns with broader market trends in Vietnam favoring technology and semiconductor value chain investments, supported by government policies like Resolution 57-NQ/TW.

Strategic Significance

The move represents a deliberate pivot from traditional industrial zone development to integrating digital production infrastructure, aiming to connect next-generation industrial parks with high-tech manufacturing ecosystems. By partnering with established Korean technology and construction firms, Saigontel seeks to capture value in Vietnam’s growing server, data center, and UAV markets, which are receiving increased policy and investment attention. The capital raise and profit retention strategy underscore the scale of investment required to transition its business model competitively.

What to Watch

• Signing of MOUs with G-Group, KTNF, Daewoo E&C, Hanwha Systems, and Meta Network in Q2 2026.
• Execution of the VND 2,000-3,000 billion capital raise, including details on international investment cooperation.
• Progress on land handovers at industrial zones like Nam Tân Tập and Tân Phú, which are critical for 2026 revenue targets.
• Financial results for Q1 and Q2 2026 to assess early traction toward the VND 2,000 billion revenue and VND 500 billion pre-tax profit goals.
• Updates on construction and legal procedures for industrial zones in Lương Sơn, Tân Tập, and Đông Triều, slated to contribute revenue from 2027 onward.