Thailand’s True Digital expands to Vietnam in regional growth
BANGKOK, NNA - Thailand's True Digital Group Co. (TDG) has set up a subsidiary in Vietnam to provide data analytics and digital solutions as part of its regional expansion.
True Digital Vietnam Joint Stock Co. was established in Hanoi with a paid-up capital of 4.64 billion dong ($198,800). It has been divided into 464,960 ordinary shares with a par value of 10,000 dong each. TDG holds 99.998 percent or 464,950 shares.
Set up with the aim to become a leading digital transformation enabler in Thailand and Southeast Asia, TDG is a wholly owned subsidiary of True Corporation Public Co., a thriving communications conglomerate operating fixed-line, wireless, cable TV, IPTV and broadband services.
Apart from Thailand, True Digital already has a footprint in Indonesia and the Philippines. It has a roadmap to expand further in South Asia by leveraging the economies of scale of digital platforms and its capabilities in cutting-edge technologies such as artificial intelligence, big data, blockchain, cloud, Internet of Things (IoT) and robotics.
This enables TDG to build a unique ecosystem of digital platforms and solutions and offer a portfolio of digital services to consumers and businesses. Key businesses include digital media, online-to-offline commerce, data analytics, IoT and digital solutions, as well as a True Digital Academy.
In December 2019, TDG established True Digital Philippines Inc. to provide digital media and platform services in the Philippines. It also entered Indonesia that same month to start a web-portal service company, PT True Digital Indonesia.
The True Corporation group has continued to show a consistent record of service revenue and EBITDA growth in the second quarter of 2020. On Aug. 14, it reported core service revenue had grown 4 percent year on year, driving consolidated service revenue up by 2 percent to 26.6 billion baht ($851 million) in Q2.
It attributed this to continued solid growth of the cellular business due to higher data demand and postpaid growth as well as to growth in broadband internet which benefited from an expanding subscriber base.
Q2 results have enabled the half-year performance to shine, with core service revenue rising 4 percent year on year and the six-month consolidated service revenue to a record high of 53.2 billion baht.
The group said in a statement, "TrueMove has once again outperformed the industry as the only operator reporting higher cellular service revenue for both QoQ and YoY while TrueOnline’s broadband internet delivered stronger growth."
In Q2, True Digital continued to strengthen the group’s competitive edge and ecosystem with its quality platforms and services, reported the group.
TrueID, the digital media platform of TDG, gained traction further with 23 percent growth quarter on quarter to 234,000 transactions apart from the spike in subscriptions when English Premier League returned in June.
Monthly video views on TrueID swelled to 219 million views, representing a robust 55 percent jump from the previous quarter. Q2 saw the launch of TrueID's e-commerce section with more than 828,000 active users and 3.3 million clicks per month.
For its OTT platform, TrueID TV reached new heights with approximately 1.4 million TrueID TV boxes shipped or a 61 percent growth to become the largest Android TV Box operator in Thailand as well as the leading operator partner globally for Google Nest Mini Boxes.
In the enterprise segment, True Digital Solutions connected more than 272,000 IoT (Internet of Things) endpoints and devices by the end of Q2. IoT will be a key focus of its new business in Vietnam.
TDG also grew businesses as it made strides in technologies for agriculture property, retail, health and hypermarkets. At the same time, its True Analytics arm offered advanced analytics solutions for its clients in banking, property, energy, hospitality, transportation, retail, food and agriculture.