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Top taxi firm Vinasun and ride hailing firm Grab have told the court that they’ll negotiate a compensation dispute. The People’s Court of Ho Chi Minh City on Friday approved the litigants’ wish to ‘sit together,’ and temporarily suspended the trial. The…
Taxi firm Vinasun’s profits plummeted by 58.5% to VND22 billion ($868,000) in the first quarter, a near two-year low, according to a company disclosure. The Ho Chi Minh City-based company said profits dropped because it had to spend money on “supporting…
Vinasun’s payroll increased by 10% last year, the first time since 2016 hires outnumbered layoffs. The leading taxi operator said it had 2,013 employees at the end of last year, 136 more than at the beginning of the year. General director Ta Long Hy said the…
Vietnam’s leading taxi firm Vinasun posted VND185 billion (US$7.89 million) after-tax profit last year, which is 6.8 times higher than targeted. The taxi operator recorded profits in all four quarters of 2022 after suffering losses in 2020 and 2021 due to the…
Taxi company Vinasun laid off more than 2,500 employees, including some 1,800 drivers last year with the Covid-19 pandemic causing the business to shrink significantly. According to its newly released financial report, Vinasun had 1,877 employees at the end…
Taxi firm Vinasun saw its revenue in the third quarter plunge 10 times to VND23 billion ($991,000) as the fourth Covid-19 wave wrecked the transport industry. The company posted a loss of VND91 billion, its seventh losing quarter in a row, increasing the…
Taxi operator Vinasun reported a loss of VND66 billion ($2.87 million) for the second quarter, its sixth consecutive quarterly loss as Covid-19 continued to wreck its business. Revenues were VND150 billion, the lowest since the company listed on the stock…
Vinasun, Vietnam’s second-largest taxi firm, reported its first-ever accumulated loss of VND211 billion ($9.15 million) last year. The figure far exceeded the firm’s earlier loss forecast for 2020 at VND115 billion. Vinasun leaders have blamed the loss on the…
Vinasun has cut its staff by 1,300 in the first nine months as it restructures to reduce costs amid the Covid-19 pandemic. The staff cut has lowered the company’s salary costs by 35.5 percent year-on-year to VND80 billion ($3.4 million), saving it VND4.9…
Prosecutors in Ho Chi Minh City have appealed a verdict ordering Grab to pay compensation to domestic taxi firm Vinasun. They want the appeal court to quash the order requiring the Singapore ride-hailing firm to pay VND4.8 billion ($206,000) in compensation…
Grab has appealed a verdict by a Vietnamese court to pay compensation to domestic taxi firm Vinasun for causing it losses. Arguing that the order to pay VND4.8 billion ($208,000) by the first instance court was unlawful, the Singapore-headquartered Grab has…
Grab should pay Vinasun VND4.8 billion ($208,000) for damage it has caused the top taxi firm, a court ruled Friday. The People’s Court of Ho Chi Minh City said in its verdict that Grab had committed many mistakes in its operations in Vietnam, tantamount to…
Grab’s surprise offer to buy a $2.78-million stake in top taxi company Vinasun has failed, with the latter asking to end negotiations. The negotiations between the two firms began earlier this month for compensation claimed by Vinasun from the Malaysian…
Vietnamese technology startup Be Group Corporation officially launched its ride-hailing platform Thursday, with beBike and beCar. The latest entrant to a market dominated by the likes of Grab and Go Viet has set an ambitious target of partnering with 10,000…
Prosecutors have argued in a trial in HCMC that Grab must pay Vinasun compensation for losses it caused through “unhealthy competition.” At a hearing Tuesday the city People’s Procuracy rejected ride-hailing firm Grab’s argument that the court had no…
Soon after a Singaporean fund divested its entire stock in Vietnam’s top taxi firm Vinasun, a domestic securities firm stepped in to fill the gap. The Ho Chi Minh Securities Corporation (HSC), a professional securities brokerage and equities firm in Vietnam,…
