Dự án xây dựng hệ thống gps trên taxi

VINATAXI

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REPORT

INVESTMENT GPS SYSTEM IN VINATAXI

Location : Ho Chi Minh City, Vietnam

Proposer : Vinataxi

Performer : Vinataxi

Investor : ComfortDelGro (Singapore)

Tp.Hồ Chí Minh - Tháng 1 năm

2008

Ho Chi Minh City, June 2014

VINATAXI

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REPORT

INVESTMENT GPS SYSTEM IN VINATAXI

VINATAXI

(General Director)

CONSULTANT

CONSULTANCY & INVESTMENT

THAO NGUYEN XANH CO.

(Vice General Director)

CHIA CHUEN HUEI NGUYỄN BÌNH MINH

Ho Chi Minh City, June 2014

Investment GPS System in Vinataxi

TABLE OF CONTENT

CHAPTER I: INTRODUCTION ABOUT THE PROJECT.......................................................11.1. In troduction about the project.........................................................................................11.2. The unit responsible for project.......................................................................................11.3. Legal Basis......................................................................................................................2

CHAPTER II: THE ESSENTIAL INVESTMENT PROJECT...................................................32.1. Demand for use Taxi at the moment................................................................................32.2. The difficulties in management and operating taxi system.............................................42.3. GPS solutions for taxi management................................................................................4

2.3.1. The features of GPS technology.............................................................................42.3.2. System Structure.....................................................................................................5

2.4. Status of application of GPS technology in the management of taxi in Vietnam...........72.5. Conclusion about necessary of this investment...............................................................7

CHAPTER III: THE CONTENTS OF THE PROJECT..............................................................93.1. The list of machinery and equipment required investment.............................................93.2. The progress of project....................................................................................................9

CHAPTER IV: FINANCIAL PERFORMENT IN INVESTING GPS SYSTEM.....................114.1. Value Investment...........................................................................................................11

4.1.1. Value Investment..................................................................................................114.2. The capital of project.....................................................................................................11

4.2.1. The process of project...........................................................................................114.2.2. The capital of project............................................................................................11

4.3. Financial Performance...................................................................................................114.3.1. The benefits in investing GPS system...................................................................114.3.2. Auditor’s report.....................................................................................................144.3.3.Audited Financial Statements................................................................................15

4.4. The effects of socio-economic projects.........................................................................17

CHAPTER V: CONCLUSION..................................................................................................18

Vinataxi


CHAPTER I: INTRODUCTION ABOUT THE PROJECT

1.1. In troduction about the project Project Name : Investment GPS system in Vinataxi Address: Ho Chi Minh City Project Objectives: Investment into the GPS system to manage about business activities

of Vinataxi :+ Reduce personnel costs+ Support for professional management+ Anti- revenue losses+ Support Executive+ Improve customer service+ Raising aware of drivers

Type of investment : ComfortDelGro Corporation (Singapore) investment 100% capital

Forms Management : Through Project Management Unit of Project is established by the investors.

Value investors GPS : 4,818,848,000 VND (equivalent 372,975S$) Financial performance: NPV = 1,182,125,000 VND > 0; IRR = 25% >> re = 18% The Project brings high profits for the investors The implementation progress: The project was deployed in August 2006 and put into use

in early 2007 and gradually completed in 2008

1.2. The unit responsible for project Unit investment : ComfortDelGro Corporation (Singapore) Unit suggestions: Vietnam Taxi Company (Vina Taxi) Unit implemented: Vietnam Taxi Company (Vina Taxi) Vina Taxi Co. is a joint venture between Tracodi Co. and ComfortDelGro (Singapore),

established under the investment license dated 24.10.2008 No. 411022000346. English name: VIETNAM TAXI CO., LTD Trading name: VINATAXI Location: Tan Binh Industrial Zone, Road No. 4, Lot 4-15B, Tay Thanh Ward, Tan Phu

District, Ho Chi Minh CityTel: (84 8) 38155152 - 38155153Fax : (84 8) 38155158Have a competitive advantage when the driver team have a lot of experienced , manage

cost-effective and achieve efficient economic from advantages of scale. Therefore, Vinataxi is expected to continue to hold the leading position in the industry, particularly in the southern region. Thus, we believe that the growth of revenue will be stable, the using of capital effect will increase.

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1.3. Legal Basis - Law on Investment on 29/11/2005 No.59/2005/QH11 of the National Assembly of the

Socialist Republic of Vietnam; - Enterprise Law on 29/11/2005 No.60/2005/QH11 of the National Assembly of the

Socialist Republic of Vietnam; - Law on Road Traffic; - Dispatch No.206/2003/QD-BTC December 12, 2003, promulgating the regime of

management, use and depreciation of fixed assets.

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CHAPTER II: THE ESSENTIAL INVESTMENT PROJECT

2.1. Demand for use Taxi at the moment

The taxi service branch is one of the industrial capable of positive growth in the macroeconomic situation in country at present. We estimate the taxi market will stabilize growth, especially in the large cities due to:

(1) .Flow of passengers using the road traffic have increased significantly with the average speed at 9 % / year comes from the travel demand of the people as well as the increase in international passenger traffic to Vietnam. Moreover, the growth index of road traffic and the number of international tourists in the first 5 months of 2006 there has been a strong breakthrough compared with 2005. Consequently, we believe that taxi services will grow faster than by the transport market, strong growth in both scale (traffic volume) and number of passengers.

Source: GSO1. (2) People's incomes increase , traveling in the rainy season and the development yet

strong enough of the public transport such as buses, motor taxi ... making people use the taxi services more because of the service and its utility.

In short, today, growing social , people's lives improved physically and mentally. Demand for food, clothing, cosmetic, including the transportation of people increasingly more attention. Besides the appearance of the motorcycle, car, bus is transportation mainly of people, the demand uses taxis increasingly became popular. Demand for uses.

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2.2. The difficulties in management and operating taxi system

Currently, the taxi companies operate as the traditional way: the customer will call to operator, he/she will recieves and writes information on paper: address, taxis and address of customers... then, this information will be send to call center and up to the talkie. In parallel with the large number of people and vehicles, the administration - management and resolve issues arising relating faced many difficulties, may be mentioned the following difficulties

( 1) Call-Centre works- It was mainly based on the radio. Staffs could not locate the taxis so that they must

depend entirely on the response of drivers whenever they wanted to go or arrived the points. Many drivers intended to cheat by reporting the wrong cars’ numbers, wrong locations or not reported to the Call-Centre when they got the customers to avoid being tracked.

- At the tradition Pick-up-points where drivers used to gather to get and manage queues by themselves, there were some negative status like: the monopoly status (just a group of drivers could join that rank, the other could not), drivers could choose customers to serve, cheat customer, offer negotiated prices higher than by taxi meter..

- Beside, when those areas were short of car, staffs could not know in advance so that they could not give notice for drivers to bring car back to serve customers.

(2) Customer Service works- The investigation mainly based on the radio and self-conscious of drivers.- Staffs resolved the complaints based on their personal experience so that must of our

feedback were not convincing. - The rate of successful resolution is very low (<50%)

(3) Defer shifts for drivers- The defer shift’s work was difficult, inaccurate and unprejudiced because it much based

on the drivers’ reports and staffs’ records. - Drivers and employees took advantage of this work to make their profit and cause

financial damage for the company.(4) To revoke taxis due to overdue debt- It was very difficult and took much time for enforcement staffs to take cars back

because they could not know cars’ locations while drivers tried to hide by many ways.(5) Issue the VAT invoice for customer- Many drivers colluded with customers to apply for VAT invoice or co-operate with taxi

card users to imprint receipts for false trips. In these cases, staffs could not check or verify.2.3. GPS solutions for taxi management.2.3.1. The features of GPS technologyThe application of GPS technology in the management of transportation are becoming

more popular in the world and this is a service that provides high value-adde, base telecommunications technology , information technology, background basis of geographic

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information systems (GIS). Today, It’s commonly used in the shipping industry on the worldwide. This application is used to monitor, track and manage vehicles in order to increase efficiency and save costs.

The system provides the key features following: Monitor, track parameters velocity, direction of travel, the status start and shutdown

machine Track and route simulation of vehicle movement Statistical distance, use time, estimated the fuel consumption Warning excessive speed, moving out of the area or the route permission

2.3.2. System Structure The system consists of 04 main components: Server coordinated car: located on Cloud server. This system is common to the taxi

business. Call center server: Server system stored customer data and vehicle coordination rules.

Each taxi company will have own server. Vehicle software: each driver will have own software coordinate car Rack mounted in the taxi: a taxi have a GPS device setting in car screen to help locate

vehicles and communication between the truck with center

Figure: Structure taxi management system using GPS technology

The steps conditioned car

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1. Customers call to center to require vehicle 2. Software coordinator is used will send the customer address for the server is waiting car

moderators. 3. Servers looking for taxi the nearest with customers and notice pickup .4. When drivers acknowledge agreeing to pickup customers, this information will be

forwarded by the coordinator. 5. Coordinator will notify customers: license plate, time to car arrive6. Drivers will notice the situation: they're on the way to pick up, has arrived, customer has

gotten in or gotten off taxi, to the Private Branch Exchange (PBX) can control situation of vehicle.

Compared with the old method is use radio, the new system has the advantages following:+ Call-Centre works- System can locate taxis on the Google map so that staffs can keep track of taxis, can

know their status (Hired or For Hire) then try to contact drivers to ask them to go to the points or even show them direction to there. After that staffs call back to give our feedback to customer about taxi number and estimated time for taxi to come.

- It makes the dispatch job be more efficient and has got customers and drivers compliments.

- By GPRS, the queues are updated automatically by the system, drivers can get jobs orderly, can’t refuse the short-trips, can’t offer higher price... It also helps stop the monopoly status as a driver can register to join Q in multiple ranks.

- By the Q-Board-Display, staffs manage taxis on each rank better as they know the quantity of taxi on queues, status of them ( Free, On call or Meter-on…). It helps re-arrange taxis to serve customer effectively

+ Customer Service works

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- The jobs dispatched by GPRS have the taxi number, time of dispatching and also the route so that drivers must be more responsible to their customers. Many drivers return belongings to customers before being recognized. The number of complaints has decreased significantly.

- Currently, the rate of successful resolution is above 80%. + Defer shifts for drivers- Employees can easily check and confirm the business downtime of taxis correctly and

objectively- It helps reduce the quantity of defer shifts and the negative attitudes of staffs.+ To revoke taxis due to overdue debt- Locations of cars are shown on map clearly so that enforcement team can come to take

car back quickly.- For drivers who intend to turn off the GPRS equipments, staffs still can track their

locations by using some tools of GPRS system.+ Issue the VAT invoice for customer- Staffs can check the authenticity of trips by viewing the cars’ routes.

2.4. Status of application of GPS technology in the management of taxi in VietnamWorldwide, GPS devices have been widely applied in many fields, especially for the

transportation sector; However, in Vietnam, location-based services are just beginning to be exploited with some simple applications and currently on the market domestic taxi, have yet to be a business application of GPS technology in the management and operating.

GPS applications is essential for the transport activity. To develop the public transport system, the State should have focused investment for this solutions, so effective achieves tremendous will to the development of the economy. If the private sector to participate in the application will be difficult and slow because investment costs for large operating systems

2.5. Conclusion about necessary of this investmentAs above, we have analyzed the demand use taxi of Vietnamese is increasing and there is

an opportunity for the development of Vinataxi,well as other taxi firms in the country. However, during operation, almost all taxi firms appear shortcomings as well as difficulties in management and administration.

Realizing the benefits that GPS technology brings, Vinataxi the proposed decision ComfortDelGro Group (Singapore) invests positioning system into the management and administration in Vinataxi. GPS technology helps Vinataxi:

+ Reduce personnel costs + Support for professional management + Anti-revenue losses + Support Executive +Raising customer service + Raising awareness of driving.In Short, if invested now, Vinataxi will be the first taxi firms in Vietnam applies GPS

technology into management and this will be competitive advantage of the Vinataxi compared

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to competitors in the market. Therefore, Vinataxi asserts that investment into positioning system is necessary and urgent in the current period.

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CHAPTER III: THE CONTENTS OF THE PROJECT

3.1. The list of machinery and equipment required investment.No Description Qty1 HCMC Map – Street Works 12 Advance Tech 48 pin universes program & adaptor 13 Oracle Database Standard Edition 54 HP-UX server 15 Citrix presentation server 16 GPS Receiver 17 MDT/MCU & accessories 10008 PC 69 GPRS modem & GPS antenna 95010 HP SQL sever 111 Lan Swich 112 UPS 213 Firewall 114 Rack & accessoies 1

3.2. The progress of project

The project will be begun at August, 2006, used in 2007, then finished in 2008.

No. Task2006 2007

Aug Sept Oct Nov Dec Jan

1 Evaluate and Testing GPRS Modem and Network x x x

2 MAP & Address Database Setup x x x x x

3 Setting Up of Call Centre Infrastructure x x

4 Dispatch System Setup and Development x x x x x

5 Enhance MDT Application to Interface GPRS Modem x x x x x x

6 Subcrible to GPRS Service x x

7Setting Up of Dispatch Server (HP-UNIX) & Window Server

x x

8 Setting up of MDT support & Maintenance Team x x

9 Training of Drivers on the use of MDT x x

10 Purchase of GPRS Modem x x

11 Project Management & Agreement x x

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12 Perchase of PC & Window Server for Call Center Agent x x

13Training on Support and Maintenance of IT Infrastructure

x

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CHAPTER IV: FINANCIAL PERFORMENT

IN INVESTING GPS SYSTEM

4.1. Value Investment

4.1.1. Value Investment

The value of investment GPS system is 4,818,848,000 VND (equivalent 372,975S$)

4.2. The capital of project

4.2.1. The process of project

The project will be begun at August, 2006, used in 2007, then finished in 2008.

1 Evaluate and Testing GPRS Modem and Network

2 MAP & Address Database Setup

3 Setting Up of Call Centre Infrastructure

4 Dispatch System Setup and Development

5 Enhance MDT Application to Interface GPRS Modem

6 Subcrible to GPRS Service

7 Setting Up of Dispatch Server (HP-UNIX) & Window Server

8 Setting up of MDT support & Maintenance Team

9 Training of Drivers on the use of MDT

10 Purchase of GPRS Modem

11 Project Management & Agreement

12 Perchase of PC & Window Server for Call Center Agent

13 Training on Support and Maintenance of IT Infrastructure

4.2.2. The capital of project

The total investment GPS System is 4,818,848,000 VND equivalent 372,975S$, this capital is used from interest free loans of ComfortDelGro Ltd., Co.

4.3. Financial Performance

4.3.1. The benefits in investing GPS systemBesides the intangible values of investing GPS system in Vinataxi, the benefits in

operation activities:

+ Increasing the total revenue in taxi operation

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Thanks to GPS System, the service quality will increase remarkably then will build trust of customer when using Vinataxi’s service, contributing to raise total revenue. The number of cars is 452 units in the previous years. Assumption, this will increase around 15%, the total number will be 520 cars. Hence, the number of car will increase 68 cars, this shows that the investment GPS System makes the revenue increasing more effective and competitive advantages with others in Ho Chi Minh City.

Unit: 1,000 VNDNo. Year 2007 2008 2009 2010

Items 1 2 3 4Revenue in taxiWorking days 300 300 300 300

The increasing cars 68 68 68 68

1 Franchised cars 990,000 1,009,800 1,029,996 1,050,596

5% Daily fee 165 168 172 175

15% The No. of car 20 20 20 20

2 SPP cars 1,920,000 1,958,400 1,997,568 2,037,519

Daily fee 320 326.4 333 340

The No. of car 20 20 20 20

3 Leased cars 2,940,000 2,998,800 3,058,776 3,119,952

Daily fee 350 357 364 371

The No. of car 28 28 28 28

Revenue increase 5,850,000 5,967,000 6,086,340 6,208,067

No. Year 2011 2012 2013 2014Items 5 6 7 8

Revenue in taxiWorking days 300 300 300 300

The increasing cars 68 68 68 68

1 Franchised cars 1,071,608 1,093,040 1,114,901 1,137,199

5% Daily fee 179 182 186 190

15% The No. of car 20 20 20 20

2 SPP cars 2,078,270 2,119,835 2,162,232 2,205,476

Daily fee 346 353 360 368

The No. of car 20 20 20 20

3 Leased cars 3,182,351 3,245,998 3,310,918 3,377,136

Daily fee 379 386 394 402

The No. of car 28 28 28 28

Revenue increase 6,332,228 6,458,873 6,588,050 6,719,811

+ The benefit in saving employee’s salary

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In Ho Chi Minh City, Vinataxi set up 26 areas, unless every taxi sets GPS system, there is one person to operate in each area, the basis salary is 2,800,000 VND/month/person, insurance and others are 800,000 VND/month/person.

The benefit in saving employments’ salary/year = 3,300,000 VND/month/person x 26 people x 13 months = 1,115,400,000 VND.

+ The benefit in cutting cost of maintenance, replacement parts of carsSystem makes the dispatch job be more efficient and has got customers and drivers

compliments. It helps re-arrange taxis to serve customer effectively, to decrease fuel and distance.

The average time for maintenance, replacement parts of cars of each taxi is 5000 kilometers.

The average cost/term = 1,050,000 VND/taxi/term

The items/year before using GPS system = 12 terms

The items/year after using GPS system = 6 terms

The benefit in cutting cost of maintenance, replacement parts of cars = 1,050,000 VND/taxi/term x 520 taxis x (12-6) terms = 3,274,740,000 VND.

Unit: 1,000 VNDNo. The benefits of investing GPS System 2007 2008 2009 20101 Saving employee’s salary in each area

No. of employments 26 26 26 26

The average salary/person/month 3,300 3,465 3,638 3,820The benefit in saving employments’ salary/year

1,115,400 1,171,170 1,229,729 1,291,215

2Cutting cost of maintenance, replacement parts of carsNo. of taxis 520 520 520 520

The average cost/taxi/term 1,050 1,050 1,050 1,050

The items/year before using GPS system 12 12 12 12

The items/year after using GPS system 6 6 6 6The benefit in cutting cost of maintenance, replacement parts of cars

3,274,740 3,274,740 3,274,740 3,274,740

Total Benefit 4,390,140 4,445,910 4,504,469 4,565,955

No. The benefits of investing GPS System 2011 2012 2013 20141 Saving employee’s salary in each area

No. of employments 26 26 26 26

The average salary/person/month 4,011 4,212 4,422 4,643The benefit in saving employments’ salary/year

1,355,776 1,423,564 1,494,743 1,569,480

2 Cutting cost of maintenance, replacement

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parts of carsNo. of taxis 520 520 520 520

The average cost/taxi/term 1,050 1,050 1,050 1,050

The items/year before using GPS system 12 12 12 12

The items/year after using GPS system 6 6 6 6The benefit in cutting cost of maintenance, replacement parts of cars

3,274,740 3,274,740 3,274,740 3,274,740

Total Benefit 4,630,516 4,698,304 4,769,483 4,844,220

4.3.2. Auditor’s report Operating Cost

Administrative expense: around 20% revenue Maintenance, replacement parts of cars expense: 1,050,000 VND/taxi/term, there are

6 terms in every year. Operating expense: 10% revenue Management and Sale expense: 21% revenue

Depreciation ExpenseApplying the method of straight-line depreciation. Depreciation time dispatch apply

Decision No.206/2003/QD-BTC of 12th December, 2003 on issuance of the regulations of management, use and depreciation of fixed assets of The Minister of Finance.

Table depreciation of fixed assets

III Assets Depreciation time

III.1 GPS System 8

III.2 Taxis 8

Table Of Benefit - CostUnit: 1,000 VND

Year 2007 2008 2009 2010Content 1 2 3 4

Benefits 10,240,140 10,412,910 10,590,809 10,774,0221. Increase Revenue 5,850,000 5,967,000 6,086,340 6,208,0672. Other Benefit 4,390,140 4,445,910 4,504,469 4,565,955Cost 9,014,256 9,086,778 9,160,879 9,236,5943. Operation Expense 3,411,900 3,484,422 3,558,523 3,634,238+ Administration Expense 1,170,000 1,193,400 1,217,268 1,241,613+ Maintenance, replacement parts of taxis expense

428,400 441,252 454,490 468,124

+ Operating expense 585,000 596,700 608,634 620,807+ Management and Sale expense 1,228,500 1,253,070 1,278,131 1,303,694

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4. Depreciation Expense of GPS System 602,356 602,356 602,356 602,3565. Depreciation Expense of Taxis 5,000,000 5,000,000 5,000,000 5,000,000Earning Before Tax (EBT) 1,225,884 1,326,132 1,429,930 1,537,427Tax (25%) 306,471 331,533 357,482 384,357Earning After Tax (EAT) 919,413 994,599 1,072,447 1,153,071

Year 2011 2012 2013 2014Content 5 6 7 8

Benefits 10,962,744 11,157,177 11,357,533 11,564,0311. Increase Revenue 6,332,228 6,458,873 6,588,050 6,719,8112. Other Benefit 4,630,516 4,698,304 4,769,483 4,844,220Cost 9,313,960 9,393,014 9,473,794 9,556,3383. Operation Expense 3,711,604 3,790,658 3,871,438 3,953,982+ Administration Expense 1,266,446 1,291,775 1,317,610 1,343,962+ Maintenance, replacement parts of taxis expense

482,168 496,633 511,532 526,878

+ Operating expense 633,223 645,887 658,805 671,981+ Management and Sale expense 1,329,768 1,356,363 1,383,491 1,411,1604. Depreciation Expense of GPS System 602,356 602,356 602,356 602,3565. Depreciation Expense of Taxis 5,000,000 5,000,000 5,000,000 5,000,000Earning Before Tax (EBT) 1,648,783 1,764,163 1,883,739 2,007,693Tax (25%) 412,196 441,041 470,935 501,923Earning After Tax (EAT) 1,236,588 1,323,122 1,412,804 1,505,770

4.3.3. Audited Financial Statements

A period of time is 8 years with WACC = 18%

Net Cash Flow = Cash Inflow – Cash Outflow

The Total of Benefit in investing GPS System includes (Cash Inflow): Revenue of taxis, saving cost in investing GPS System.

The total Expense includes: Depreciation Expense of GPS System, Depreciation Expense of 68 taxis, Operating Expense.

Audited Financial Statements

Unit: 1,000 VNDYear 2006 2007 2008 2009 2010

Content 0 1 2 3 4CASH INFLOW - 10,240,140 10,412,910 10,590,809 10,774,022Revenue 5,850,000 5,967,000 6,086,340 6,208,067Saving in employees’ salary 1,115,400 1,171,170 1,229,729 1,291,215Saving in Maintenance,replacement parts of taxis

3,274,740 3,274,740 3,274,740 3,274,740

CASH OUTFLOW 4,818,848 8,411,900 8,484,422 8,558,523 8,634,238

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GPS System 4,818,848Taxis 5,000,000 5,000,000 5,000,000 5,000,000Operating Expense 3,411,900 3,484,422 3,558,523 3,634,238Net Cash Flow (4,818,848) 1,828,240 1,928,488 2,032,286 2,139,783Tax 609,525 620,645 631,954 643,457Earning Before Tax (4,818,848) 1,218,715 1,307,844 1,400,331 1,496,326

Year 2011 2012 2013 2014Content 5 6 7 8

CASH INFLOW 10,962,744 11,157,177 11,357,533 11,564,031Revenue 6,332,228 6,458,873 6,588,050 6,719,811Saving in employees’ salary 1,355,776 1,423,564 1,494,743 1,569,480Saving in Maintenance,replacement parts of taxis

3,274,740 3,274,740 3,274,740 3,274,740

CASH OUTFLOW 8,711,604 8,790,658 8,871,438 8,953,982GPS SystemTaxis 5,000,000 5,000,000 5,000,000 5,000,000Operating Expense 3,711,604 3,790,658 3,871,438 3,953,982Net Cash Flow 2,251,139 2,366,519 2,486,095 2,610,049Tax 655,156 667,054 679,153 691,457Earning Before Tax 1,595,984 1,699,465 1,806,942 1,918,592

INDEX OF PROJECT TABLE

No. Index Value

1 Total investment GPS System4,818,848,000 VND

(372,975S$)

2 Net Present Value NPV 1,182,125,000 VND

3 Internal rate of return IRR (%) 25%

4 Payback period 4 years

Review Effective

Net Present Value: NPV = 1,182,125,000 VND > 0

Internal rate of return: IRR = 25% >> re = 18%

According to analyse, calculate the financial index, the project is effective with high NPV and short payback period.

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http://en.wikipedia.org/wiki/Internal_rate_of_return

http://en.wikipedia.org/wiki/Internal_rate_of_return


4.4. The effects of socio-economic projects

After analyzing investment performance in the 8-year period, it shows that the GPS system makes the process and management activities of the Company Vinataxi more effective, suitable for long-term development strategy of company.

Facing the potential economic development in our country, the investment GPS System to finalize management systems and improving the quality of services is a necessity to bring sustainable value to the brand Vinataxi.

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CHAPTER V: CONCLUSION

"GPS System Investment Project" of Vietnam Taxi Company (Vinataxi) is feasible in technology, market and finance. Moreover, it’s also effective about economy and society. After using GPS System in management, Vinataxi business activities will ensure the management and controlling more professional.

Thus, we need the support from ComfortDelGro Corporation (Singapore) in order to promote the project effective.Sincerely,

Ho Chi Minh City, ………..

VINATAXI

(General Director)

CHIA CHUEN HUEI

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Business

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