FPT Telecom, a subsidiary of Vietnamese software and technology company the Corporation for Financing and Promoting Technology (FPT), generated revenue of VND2.59 trillion (USD123 million) in the first nine months of 2011, an increase of 47% over the year-ago period. Viet Nam News writes that the telecoms firm’s profit after tax reached almost VND594 billion, up 34% year-on-year. Meanwhile, the report cites the corporation’s general director Truong Dinh Anh as saying that FPT is looking to increase its stake in its telecoms subsidiary from around 40% to 100%. ‘We have asked the Ministry of Finance and the State Capital Investment Corp to increase our ownership in FPT Telecom to 100% or merge the unit,’ the general director said. FPT has already merged three of its other units, FPT Information System, FPT Software and FPT Trading.