Saigontel eyes record revenue, accelerates LNG, data center development in 2026

SaiGon Telecommunication & Technologies Corporation (Saigontel) targeting record revenue in 2026 while accelerating a strategic shift into energy and digital infrastructure, backed by a planned rights issue to fund large-scale LNG and data center projects.

Saigontel is a subsidiary of Saigon Invesment Group (SGI), whose chairman is Dang Thanh Tam, chairman of industrial developer Kinh Bac City.

Saigontel (HoSE: SGT) expects net revenue to reach VND2 trillion ($75.96 million), up 7.8% from 2025 and marking an all-time high, while pre-tax profit is projected at VND500 billion ($18.99 million), broadly flat year-on-year.

The muted profit outlook reflects a period of heavy reinvestment as Saigontel restructures its growth model.

At the center of its strategy is is a move away from traditional industrial park development toward an integrated ecosystem combining energy infrastructure and high-tech services. The company plans to develop an LNG port and storage project spanning 32.4 hectares, with total investment estimated at VND10 trillion ($379.82 million).

In addition, Saigontel is preparing land reserves of between five and 20 hectares for data center development. These projects are expected to be implemented through technology transfer partnerships with companies from the U.S. and South Korea, signaling a push toward higher-value infrastructure segments.

To finance the expansion, Saigontel plans to issue more than 148 million shares via a rights offering at VND10,000 ($0.38) per share. If successful, the company’s charter capital would double to VND2.96 trillion ($112.43 million).

Of the estimated VND1.48 trillion ($56.21 million) proceeds from the rights issue, about VND762 billion ($28.94 million) will be used to acquire shares in Vietnam Green Growth JSC, while the remainder will go toward repaying debt, easing interest burdens and improving financial flexibility.

Despite improving earnings, Saigontel will continue to withhold dividends, extending a policy that has been in place since its last shareholder payout in 2010. Retained earnings are being redirected toward funding expansion and supporting working capital needs.

The company is also streamlining its business portfolio by exiting several legacy segments, including telecommunications equipment trading and construction activities, as it sharpens its focus on core growth areas.

In 2025, Saigontel reported net revenue of about VND1.86 trillion ($70.65 million), up 1% year-on-year, while pre-tax profit more than doubled to nearly VND499.9 billion ($18.99 million), exceeding the year's profit target by 25.5%.

Total assets stood at VND7.65 trillion ($290.48 million) at year-end, with liabilities declining 15% to VND5.23 trillion ($198.61 million).

SGT shares were traded at VND15,350 ($0.58) each on Wednesday afternoon.