On September 12, 2007 – one month after the announcement of a cooperation agreement which states the purchasing of 30% stake in FPT Retail to strategic investor Synnex Technology International Corporation, FPT corporation continued making an agreement to transfer 47% share for 932 billion VND from FPT Trading to Taiwanese investors, Synnex Technology International.

According to the agreement, Synnex would own 47% charter capital of FPT Trading. This commerce is evaluated above 80 million, PFT would receive 932 billion including proceeds received from Synnex as well as profit of FPT Trading.

Synnex is Asia’s No.1 distributor of technology, telecommunications, electronic components, and is the third largest global company in 38 countries and territories with more than 200 offices and networks, which cover 60% of the global population.

Mr. Evans Tu, General Director of Synnex, said: “This is the best way for Synnex to enter an attractive consumer electronics products, technology and telecommunications market as Vietnam. FPT Trading is the number one distributor in Vietnam in this field and has always confirmed its effectiveness in building, managing and operating the distribution system for more than 20 years.”

We are delighted to be a strategic investor in FPT Trading. With the capacity and experience of Synnex in diversifying our product portfolio, sales channel development, logistics and business operations, we will further promote the quality and business results of FPT Trading” Evans Tu asserted.

FPT Trading is currently the largest distributor of information and communication technology (ICT) products in Vietnam, with a distribution network of over 2,771 agents in 63 of 63 provinces and cities nationwide. Through this system, technology products of nearly 40 partners are world-famous technology brands brought to Vietnamese consumers.

Mr. Truong Gia Binh said: “FPT Retail and FPT Trading businesses are still developing well and promising, but we want to build FPT’s image focusing on technology so we will not to hold a majority stake in the group of companies for trade, and will divest less than 50%” .The head of FPT said that the group will continue to sell shares of FPT Retail (after selling 30%) so that the group no longer holds the majority stake in this company.

In addition, the Board of Directors of FPT Corporation approved a resolution to sell up to 5% of the chartered capital of the company to employees who made important contributions to the development of FPT Trading in the next time.

Thao Nguyen

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