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VinFast Founder launches Global EV Charging Stations Company V-Green


HANOI, VIETNAM – Media OutReach Newswire – 18 March 2024 – In Hanoi, Vietnam, March 18th – Mr. Pham Nhat Vuong, Chairman of Vingroup Corporation and founder of VinFast, announced the establishment of V-Green Global Charging Station Development Company (V-Green). V-Green’s mission is twofold: investing in the development of a comprehensive charging infrastructure system that prioritizes supporting VinFast vehicles, and propelling Vietnam towards becoming one of the world’s leaders in electric vehicle charging station density.

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Spun off from VinFast’s charging station development division, V-Green, majority-owned by Mr. Pham with a 90% stake, will operate as a global partner, spearheading the creation of a comprehensive charging network. This strategic move will allow V-Green to focus solely on infrastructure investment independently from VinFast, and enable the Vietnamese electric manufacturer to prioritize market expansion and sustainable development.

To achieve its goal of developing a green ecosystem and contributing to the electric vehicle transition, V-Green will seek better access to and mobilize capital with preferential interest rates. This capital will fuel VinFast’s rapid expansion into international markets.

In the initial phase, V-Green will directly search for land and partners to establish and expand its charging network in key markets around the world. It will also cooperate with other charging companies to provide charging services to VinFast electric vehicle owners.

In Vietnam, V-Green will be responsible for operating and managing VinFast’s existing charging network. V-Green will additionally invest 10 trillion VND (approximately $404 million) over the next two years to build new stations, upgrade and complete its existing network. With this threefold increase in infrastructure investment compared to VinFast’s initial plan, V-Green aims to establish charging stations nationwide and make Vietnam one of the world’s leading countries in charging infrastructure for electric vehicles.

After about five years of operation, depending on each market and actual fundraising capacity, V-Green may consider expanding charging services to other EV manufacturers in addition to VinFast.

Mr. Nguyen Duc Thanh, CEO of V-Green, stated: “The decision by VinFast’s Founder to establish V-Green is a strategic step to globally support and promote VinFast’s sustainable development. Chairman Pham Nhat Vuong’s willingness to use his personal assets to support V-Green demonstrates this commitment. It reduces VinFast’s infrastructure investment needs and provides maximum support for the EV manufacturer’s rapid development. This affirms a strong determination to promote green transportation in Vietnam and worldwide.”

As previously announced, VinFast will expand to at least 50 countries around the world in 2024. In addition to key markets like the US, Canada, and Europe, VinFast is expanding fast into neighboring Asian countries such as India, Indonesia, Thailand, and the Philippines. The company is also entering new markets in the Middle East and Africa, with Oman, Nigeria and Ghana being the first ones.

In addition to Vietnam, VinFast is currently building electric vehicle manufacturing plants in the US and India. The company also plans to establish a factory in Indonesia.

Hashtag: #VinFast

The issuer is solely responsible for the content of this announcement.

Laos Records 630 Road Accidents in February, with 101 Deaths

Laos Records 630 Road Accidents in February, with 101 Deaths
[FILE] This image is used only for representational purpose (photo: Vientiane Mai)

Laos saw a decrease in road accidents, with a total of 630 incidents recorded in February, marking a drop of 143 compared to the previous month.

Russian Embassy in Laos Facilitates Presidential Election Polls: Putin Secures Victory with Introduction of Electronic Voting

Russian Ambassador to Laos, Vladimir Kalinin (Photo: Pathet Lao Daily)

President Vladimir Putin has clinched victory in the 8th Russian presidential election, securing his continuous tenure over Russia until 2030. 

Thailand Busts Sex Trade Syndicate: Cambodian Woman, Four Lao Women Apprehended

Thailand Busts Sex Trade Syndicate: Cambodian Woman, Four Lao Women Apprehended
A woman seen in the photo, blurred by police, is one of four Lao women arrested for allegedly providing sex services at a resort in Bang Bung district, Chon Buri province. (Photo: Central Investigation Bureau)

Thailand’s Anti-Trafficking in Persons Division (ATPD) apprehended a 36-year-old Cambodian woman, identified as Sofia, on 15 March for allegedly luring four Lao women (aged 21, 24, 28, and 38) into the sex trade at a resort in Ban Bung district of Chon Buri, Thailand.

EU-ASEAN Relations Reach New Heights with New Development Projects in Laos, the Region

Jutta Urpilainen, European Commissioner for International Partnerships, visits a local school in Vientiane on 14 March.

The longstanding partnership between Laos and the European Union (EU) reached new heights with the recent official visit of Jutta Urpilainen, European Commissioner for International Partnerships, to the Southeast Asian nation. Commissioner Urpilainen’s visit aimed to strengthen ties and explore trade opportunities between Laos and the EU.

During her visit, on 14 March in Vientiane Capital, the commissioner launched a major program to support sustainable and inclusive value chains for coffee, tea, and forest-based products in Laos.

The program, titled “Team Europe Partnership with Laos for Sustainable Trade, Investment, and Connectivity in Agriculture and Forestry (TCAF),” unveiled the same day, aims to improve connections to regional and global markets by fixing national road 2, which leads to Thailand and Vietnam.

With funding of nearly USD 102 million from the EU and its member states, TCAF seeks to foster collaboration between Laos and the EU to address deforestation, promote sustainable land use, and develop resilient crops in the face of climate change.

In her remarks, Urpilainen highlighted the program’s benefits for rural communities, including diversifying incomes, promoting decent working conditions, increasing domestic production, exporting sustainable agricultural and forest products, and boosting public revenue.

“TICAF marks a milestone and is an excellent illustration of how we have translated our Global Gateway and Green Deal objectives in our partnership with Laos while ensuring a meaningful contribution to the Sustainable Development Goals and leaving no one behind,” noted Urpilainen.

At the event, Khamjane Vongphosy, the Minister for Planning and Investment, also commended the support from the Team Europe Strategy 2021-2025.

“This cooperation highlights the harmonization and consolidation of resources from the Development Partner to support the implementation of priorities outlined under the 9th National Socio-Economic Development Plan 2021-2025,” said Khamjane.

The TICAF program, integral to Team Europe’s strategy in Laos, seeks to strengthen partnerships between the government, academia, the private sector, and local communities. It will prioritize skills development, social protection, trade facilitation, and rural road repair, with support from other Team Europe projects.

In a separate event, Urpilainen visited a local school in the capital to celebrate the success of Khang Panya Lao, Laos’ top digital learning platform. 

The platform, launched in 2021 by the Ministry of Education and Sports (MoES), aimed to address the education challenges posed by COVID-19. It is supported by the EU and is part of UNICEF’s Learning Passport program created in collaboration with Microsoft.

The Commissioner presented tablets to the MoES and the school, showcasing how digital tools can improve learning for students and teachers.

“This premiere digital learning platform, Khang Panya Lao, exemplifies how collaboration and innovation can address the challenges faced by learners and educators […],” said the Commissioner.

Education and Sports Minister Phout Simmalavong emphasized the platform’s role in bridging the digital divide and ensuring equitable access to quality education for all children. 

Over 140,000 users are now registered on Khang Panya Lao, providing education from pre-primary to Grade 12 and improving digital skills for students and teachers.

To further strengthen the relationship between the EU and Laos, Commissioner Urpilainen met with Lao Prime Minister Sonexay Siphandone and Deputy Prime Minister Saleumxay Kommasith. The discussions centered on enhancing ties, working together, and achieving common goals within the EU-ASEAN strategic partnership, especially focusing on the EU Global Gateway agenda.

“The EU is firmly committed to helping you [Laos] strengthen the unity and integration. So, let’s continue developing quality partnerships that bind us in protecting and doing good to the people, […]” says Urpilainen during the EU’s commissioner’s reception with Lao government officials.

The cooperation between Laos and Europe continues to grow, with aid increasing from EUR 312 million (USD 339 million) to EUR 550 million (USD 598 million) in the 2021-2025 plan, focusing on green economy, human capital, and governance.

Laos and the EU have had good relations since establishing ties in November 1975, and this year marks the 49th anniversary of their bilateral relations.

A Regional Perspective

In an exclusive interview with the Laotian Times, Sujiro Seam, the EU Ambassador to ASEAN, emphasized the pivotal role of enhancing ties between not only the EU and Laos but also with the region. Sujiro Seam believes in the high potential benefits for Southeast Asia stemming from the EU-ASEAN Global Gateway initiative.

Credit: EU Delegation to ASEAN

“Global Getaway is an initiative from the European Union to compensate for the lack of investments in infrastructure around the world, [which] focuses on five key priorities such as transportation, energy, digital connectivity, health, and education and research, ” he said.

Highlighting the substantial investment of over USD 10.8 billion allocated to ASEAN regions, the ambassador emphasized the far-reaching impact of these projects, both locally and regionally. Notably, he pointed out the significance of initiatives like TCAF in bolstering local products and infrastructure.

Seam also shed light on various regional projects, such as green transitions in Indonesia and Vietnam, water initiatives in Cambodia, and port developments in Malaysia, all aimed at fostering sustainable development across the region.

Pledging to deepen ties between the EU and ASEAN nations, Seam reaffirmed the EU’s commitment to actively engaging with ASEAN, particularly through strategic partnerships established in 2020. He emphasized the EU’s dedication to being a proactive ASEAN member, ensuring participation in key summits and fostering regular dialogue with ASEAN nations.

Meanwhile, as discussions continue between EU and Lao officials, including talks with Prime Minister Sonexay Siphandone and Deputy Prime Minister Saleumxay Kommasith, the prospects for deeper ties and collaborative initiatives remain promising.

Axe Management Partners Completes Purchase of Three Osaka Hotels from CapitaLand Ascott Trust

Leveraging New Partnership with IHG Hotels & Resorts for Launch of New Garner Hotel Brand Outside of North America


Acquisition and repositioning of hotel properties, bringing in new design and branding concepts targeting untapped customer groups, to maximize asset value and return on investment

Launch platform for Garner‘s expansion in Japan and Asia-Pacific, focusing on rapidly growing midscale traveler segment looking for high-quality well-priced accommodation in prime locations

TOKYO, JAPAN – Media OutReach Newswire – 18 March 2024 – Axe Management Partners (“Axe Management”), a Pan-Asia real estate investment firm, today announced the completion of the acquisition of three hotel properties from CapitaLand Ascott Trust (“CLAS”) for JPY10.7 billion (approx. US$75 million).

Abhijay Sandilya (Managing Director - Japan & Micronesia, IHG), Sam Lau (Founder and Managing Partner, Axe Management), Elie Maalouf (CEO, IHG), Gary Kwok (Founder and CEO, Axe Management), Kenneth Macpherson (CEO - Europe, Middle East, Asia and Africa, IHG).
Abhijay Sandilya (Managing Director – Japan & Micronesia, IHG), Sam Lau (Founder and Managing Partner, Axe Management), Elie Maalouf (CEO, IHG), Gary Kwok (Founder and CEO, Axe Management), Kenneth Macpherson (CEO – Europe, Middle East, Asia and Africa, IHG).

Axe Management and IHG Hotels & Resorts (“IHG”) will work closely to launch the new Garner hotel brand outside of North America, including establishing design and branding concepts as well as refurbishment work. With targeted sales, marketing and operational strategies, the partners plan to provide differentiated, enhanced guest experiences, creating unique long-lasting impressions of the hotels. Targeting to open in Q4 2024, each of the three hotels will have its own design character with convenient amenities, offering guests a comfortable stay and the go-to option in the premium midscale segment.

The three hotel properties, currently known as WBF Honmachi, WBF Kitasemba East and WBF Kitasemba West, have a total of over 500 rooms and GFA of approximately 10,000 sqm. They are centrally located in the prime district of Honmachi Osaka with close proximity to Osaka Metro stations, and within walking distance to commercial districts and the renowned Shinsaibashi tourism area. The two largest terminal stations of Namba and Umeda are within two stops on the Midosuji line, with the Shin-Osaka Shinkansen station only five stops away. Future World Expo 2025, Japan’s first integrated resort and casino, and Universal Studios are approximately 25 minutes away by train.

From left to right, WBF Honmachi, WBF Kitasemba East and WBF Kitasemba West
From left to right, WBF Honmachi, WBF Kitasemba East and WBF Kitasemba West

Gary Kwok, Founder and CEO of Axe Management, said: “We are very excited about the acquisition of this exceptional hotel portfolio with immense value-add potential. With flexibility in repositioning strategies, we will further invest capex and utilize our development and operational capabilities to transform these assets, creating a product that goes beyond expectations, driving performance and unlocking their true potential.”

Sam Lau, Founder and Managing Partner, Axe Management, said: “We foresee attractive opportunities to emerge in selected regions across Japan and Asia in the coming months. Japan has had strong momentum and we expect this will continue in the foreseeable future. This investment underscores our commitment to Japan, where we plan to deploy more capital and make further acquisitions in the near future.”

Due to their excellent location with proximity within a key CBD and tourist areas, the hotels are primed to capture both business and leisure demand from domestic and international visitors alike. According to the Japan National Tourism Organization, the number of inbound tourists in Q4 2023 has surpassed that of pre-pandemic levels, despite travel by Chinese tourists remaining more than 60% below the same period in 2019, where they were the largest inbound visitor group. Continued steady increase in demand is expected in 2024 and 2025 supporting future demand growth. Additionally, CBRE and STR show both ADR and RevPAR[1] have surpassed 2019 levels demonstrating strong industry momentum. These key factors amongst others propelled record investment volumes into the Japanese hospitality sector in 2023, from both domestic and international investors.


[1] “Average Daily Rate” and “Revenue Per Available Room”, which are both standard metrics for hotel performance

Hashtag: #AxeManagementPartners

The issuer is solely responsible for the content of this announcement.

About Axe Management Partners

Axe Management Partners, with offices in Tokyo and Hong Kong, is a Pan-Asia multi-asset class real estate investment firm specializing in development, value-added and special situations opportunities. Axe Management was founded by visionary leaders forming a team equipped with decades of real estate experience based on a proven multibillion-dollar track record in projects and investments across geographies. Axe Management is dedicated to seeking out unique investment opportunities, leveraging deep regional insights to provide investors with access to high-potential ventures that are often beyond the reach of the broader market. With long-term trends driving growth in unique regional market segments, Axe Management creates significant value from its targeted strategies and partnerships throughout Asia.

China Tower (788.HK) Announces 2023 Annual Results

Innovation and Sharing Drive High-Quality Development Net Profit Increases by 11%, Dividend Payout Increases by 15.7%


HONG KONG SAR – Media OutReach Newswire – 18 March 2024 – The world’s largest telecommunications infrastructure service provider China Tower Corporation Limited (“China Tower”, or the “Company”) (Stock Code: 0788.HK) is pleased to announce its annual results for the year ended 31 December 2023.

Performance Highlights

RMB Million 2023 2022 Change
Operating revenue 94,009 92,170 2.0%
EBITDA 63,551 62,844 1.1%
Profit attributable to owners of the Company 9,750 8,787 11.0%
Basic earnings per share (RMB yuan) 0.0558 0.0503 10.9%
Dividend per share (RMB yuan) 0.03739 0.03232 15.7%
Key operating data
Number of tower sites (thousand) 2,046 2,055 -0.4%
Number of tower tenants (thousand) 3,658 3,583 2.1%
Tenancy ratio (tenants / tower site) 1.79 1.74 2.9%

The Company’s operating revenue maintained stable growth. During the year, our operating revenue grew by 2.0% to RMB94,009 million, after excluding the impact of the Commercial Pricing Agreements, revenue increased by 6.0% to RMB97,723 million on a comparable basis over the same period last year. EBITDA[1] reached RMB63,551 million, an increase of 1.1% year-on-year, with an EBITDA margin[2] of 67.6%. Profit attributable to owners of the Company was RMB9,750 million, representing 11.0% year-on-year growth with a net profit margin of 10.4%, demonstrating further enhanced profitability.

Our net cash generated from operating activities for 2023 was RMB32,840 million. Capital expenditures stood at RMB31,715 million, with free cash flow[3] reaching RMB1,125 million. As of 31 December 2023, our total assets reached RMB326,007 million, with interest-bearing liabilities of RMB94,626 million and a gearing ratio[4] of 31.4%. Our capital structure remained healthy.

We remain committed to providing consistent and stable returns to shareholders. After considering our profitability and cash flow during the period under review, and future needs for development and capital, the board of directors of the Company has recommended a final dividend of RMB0.03739 per share (pre-tax) for the year ended 31 December 2023, equivalent to a payout ratio of 75% of our annual distributable net profit for the year under review.

Further strengthened market leadership in TSP business on a solid foundation

5G network penetration and coverage in China continued to expand in 2023 and we were able to capture the opportunities this presented. By strengthening resource coordination and sharing, and enhancing operational efficiencies, we were able to meet customer network construction needs in an intensive and effective manner. By doing so, we have further strengthened the foundation for high-quality development. In 2023, our TSP business recorded revenue of RMB82,163 million, a decrease of 1.0% year-on-year.

Tower business. Focusing on 5G network construction, we harnessed public policy support to unleash and share public and cross-sector resources. These initiatives helped reduce entry barriers and costs, therefore reinforced our competitiveness in resource coordination. Through increased sharing of existing site resources, wider use of social resources and greater effort in promoting the adoption of our integrated wireless communications coverage solutions, we have been able to effectively support the accelerated 5G network extension. We completed approximately 586,000 5G construction demand in 2023, of which more than 95% were achieved by sharing existing resources. We proactively captured the new construction demand for low-frequency network and network optimization, as well as stepping up our efforts in tackling difficult sites. This has effectively supported the stable growth of our Tower business. Leveraging our knowledge of construction features for comprehensive 5G coverage, we continued to launch innovative solutions for low-cost construction, products and services to satisfy customer demand economically and effectively. In 2023, our revenue from our Tower business was RMB75,023 million, a decrease of 2.8% from the previous year. However, after excluding the impact of the Commercial Pricing Agreements, our revenue increased by 2.0% year-on-year to RMB78,737 million on a comparable basis. As of 31 December 2023, the Company was managing a total of 2.046 million tower sites, a decrease of 9,000 from the end of the year before. We have gained 62,000 new TSP tenants since the end of 2022, bringing the total number of TSP tenants to 3.424 million. Our TSP tenancy ratio increased from 1.65 at the end of 2022 to 1.68 as a result of further improvements achieved through co-location.

DAS business. The implementation of “co-build and co-share” policies by the Ministry of Industry and Information Technology and 13 other departments has given rise to an enabling business environment for our industry. We furthered the integrated and coordinated development of “resources + demands”, with unified site entry and coordinated construction, focused on key business scenarios. Extended 5G coverage also enabled us to provide better service to support the segment for DAS construction demand. We continued to enhance product and solution design and quality control to strengthen our competitive advantages in cost, service quality, and green and low-carbon operations. Through innovation in products and application of integrated solutions, we were able to provide customers with differentiated passive and active DAS sharing solutions, which helped satisfy the demand for 5G upgrading of existing DAS while further exploring shared value and scaling up the business. In 2023, our revenue from DAS business reached RMB7,140 million, up by 22.5% year-on-year. As of 31 December 2023, we had covered buildings with a cumulative area of 10.15 billion square meters, up by 37.3% year-on-year, while high-speed railway tunnel and subway coverage reached a cumulative length of 24,072 kilometers, up by 20.1% year-on-year.

Strengthened core competencies to sustain rapid growth of Two Wings business

In 2023, we continued to seize the opportunities brought by the development of the digital economy and the “Dual Carbon” goals. By focusing on key sectors and promoting innovation-driven development, we strengthened our core competencies and competitive advantages to sustain rapid growth of the Two Wings business, which recorded revenue of RMB11,497 million in 2023, accounting for 12.2% of our overall operating revenue, an increase of 2.5 percentage points from the previous year.

Smart Tower business. We focused on supporting spatial digital intelligence governance of different industries and continued to expand the mid-to-high point site resources to cover broader areas of the national economy and people’s livelihood. As of 31 December 2023, approximately 217,000 “telecommunication towers” had been upgraded into “digital towers”, covering more than 40 industry segments concerning state planning and people’s livelihood. These included forestry and grassland, environmental protection, water resources, agriculture, transportation, land, and emergency response. We maintained our market leadership in various scenario-based solutions including straw-burning prohibition, farmland protection, fishing law enforcement and bushfire prevention. We forged ahead innovation to further enhance our five major competitive advantages – platform, data, algorithm, application, and operation, establishing a unified nationwide network to achieve distributed deployment on our platform and centralized data operations. As a result, our multi-source data access capability and AI algorithm accuracy have been significantly improved, and our leading capabilities in products developed for different industries and scenarios have been further consolidated. We have built a “companion” service system and completed the building of professional network management platform for our Smart Tower business, equipped with the ability to accurately diagnose incidents occurring in the terminal devices, dispatch for tasks in real time and handle the incidents in a timely manner. We have strengthened our localized technical support capabilities, helping us promptly respond to customer requirements thus consistently enhanced customer experience and customer loyalty. In 2023, the Smart Tower business generated revenue of RMB7,283 million, up by 27.7% year-on-year. Of which, revenue from Tower Monitoring business reached RMB4,727 million, accounting for 64.9% of our revenue from Smart Tower business.

Energy business. We worked towards achieving the “Dual Carbon” goals through our core business areas such as battery exchange and power backup. We continuously improved the quality of operations and business by consolidating our product, service, and platform advantages. In the battery exchange business, we accelerated product iteration and upgrades and strengthened our service system. We reinforced our presence in the consumer battery exchange market while increasing our efforts to expand the battery exchange market of business customers. These initiatives have helped us achieve a rapid increase in user scale. As of 31 December 2023, the number of battery exchange users reached 1.145 million, with an addition of 243,000 since the end of 2022. We have further strengthened our leading position in the battery exchange market for light electric vehicle. In the power backup business, we optimized the intelligent monitoring platform for visualized, managed, and controlled operation, and improved the integrated four-in-one solution covering power backup, power generation, monitoring and maintenance while stepping up our efforts in promoting standardized power backup products. We focused on key industries such as communications, healthcare and finance by introducing the “energy butler” service to drive the rapid growth of our power backup business. In 2023, our Energy business achieved revenue of RMB4,214 million, a year-on-year increase of 31.7%, of which the revenue from battery exchange business accounted for RMB2,067 million, with its contribution to the Energy business reaching 49.1%.

Mr. Zhang Zhiyong, Chairman of China Tower said, “In view of the strategic opportunities presented to us, we will deepen our ‘One Core and Two Wings’ strategy to achieve high-quality operations. We will continue to grow our business around sharing, service, innovation, technology, and value creation, built upon an operating system that is professional, intensive, delicate, efficient, and digitalized. We seek to further enhance our core competitiveness, in order to achieve steady growth in our enterprise value, while reaching a new level of high-quality development.”


Note 1: EBITDA is calculated by operating profit plus depreciation and amortization.

Note 2: EBITDA margin is calculated by dividing EBITDA by operating revenue, and multiplying the resulting value by 100%.

Note 3: Free cash flow is the net cash generated from operating activities minus the capital expenditures.

Note 4: Gearing ratio is calculated as net debt divided by the sum of total equity and net debt, then multiplied by 100%.

Hashtag: #ChinaTower

The issuer is solely responsible for the content of this announcement.

About China Tower (Stock Code: 0788.HK)

China Tower is the world’s largest telecommunications tower infrastructure service provider, and the Company always adheres to the philosophy of shared development and implements the “One Core and Two Wings” strategy. The Company is principally engaged in the construction, maintenance and operation of base station ancillary facilities such as telecommunications towers, public network coverage in high-speed railways and subways, and large-scale indoor Distributed Antenna Systems (DAS). Meanwhile, relying on unique resources to provide energy application services such as information application and intelligent battery exchange and power backup to the society, the Company strives to build itself into a world-class information and communications infrastructure service provider, and a highly competitive information and new energy applications provider. As of the end of December 2023, the Company’s total assets amounted to RMB326,007 million. China Tower operated and managed 2.046 million tower sites across 31 provinces, municipalities and autonomous regions in the PRC, and served over 3.658 million tenants with the tenancy ratio of 1.79.

UK Continues Funding UXO Clearance in Savannakhet Province

UK Continues Funding UXO Clearance in Savannakhet Province
Ordnance Disposal Unit searching for bombs

The Government of the United Kingdom (UK) has reaffirmed its support for the HALO Trust’s Unexploded Ordnance (UXO) clearance operations in Savannakhet province by awarding USD 545,400 for HALO’s UXO clearance project in Phin and Nong districts.