After Vinasun reported a loss in H1, Mai Linh Taxi reported a big loss of up to one trillion dong. Its consolidated net profit in 2019 was minus VND6 billion, raising the accumulated loss to VND1.039 trillion. Meanwhile, Mai Linh holding group still made a profit of VND61 billion.

These figures were found in the 2019 separated and consolidated finance reports, according to Nhip Cau Dau Tu.

Mai Linh remains the largest taxi firm in the domestic market in both market share and number of taxis. Previously, the group regulated its taxi network through three subsidiaries located in three regions – northern, central and southern.

The cost price exceeded proceeds, causing one of the largest taxi companies in HCM CIty to report a gross loss of approximately VND64 billion for the first time. Meanwhile, it made a profit of VND112 billion the same period last year.

Vinasun’s Q2 finance report showed net revenue of VND155 billion, a decrease of 70 percent compared with the same period last year.

The cost price exceeded proceeds, causing one of the largest taxi companies in HCM CIty to report a gross loss of approximately VND64 billion for the first time. Meanwhile, it made a profit of VND112 billion the same period last year.

Since business operations shrank, the financial costs, sale and business management costs all decreased in Q2. However, the taxi firm still incurred a pre-tax profit of VND111 billion (it made a profit of VND36 billion the same period last year).

This was the second quarterly consecutive loss and it was the largest in the history of the 35-year-old firm.

While traditional taxis have unsatisfactory business performance, app-based taxi firms are moving ahead with strong reform plans. GoViet has changed its name to Gojek Vietnam with the same logo, uniform and app similar to Gojek in Indonesia.

The integration of the brand and the app with Gojek is the company's next strategic decision to speed up development.

Previously, Gojek developed a specific app for the Vietnamese market, independent from Gojek app in Indonesia. However, the company has realized that it would be inconvenient for passengers traveling between countries to have to download two different apps to their mobile phones.

Meanwhile, Be has been changing fast by joining forces with partners to diversify services. Be’s drivers have recently been chosen to participate in the sensor technology-use and IoT project called Milk Way.

The project allows working and breastfeeding moms to schedule breast milk delivery from work to home via the app. Be drivers will come and receive milk for delivery.

Grab, the ‘eldest brother’ among the riding-hailing platforms, has upgraded many services since the social distancing period, including GrabMart, GrabAssistant, GrabFood and GrabExpress.

Translated by Thanh Lich 

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