Company Insight

Viettel Post Joint Stock Corporation (VTP) is one of the leading courier companies in Vietnam. Based on DCF method, we value VTP for the first time at 84,000 VND, equivalent to a 6.3% return. In the long-term, the growth engine comes from (1) the second largest in terms of coverage in the courier sector, (2) infrastructure and technology investment are key to sustainable development, (3) strengthening fulfillment and expanding supply chain are growth levers for the business, and (4) the strong development of e-commerce brings many opportunities for VTP.