Wednesday, July 26 2017

VietNamNews

Vinachem strives to increase revenue, production in Q2

Update: April, 20/2017 - 11:00
A photo shows DAP Lào Cai factory, financed by DAP 2-Vinachem JSC, in Lào Cai Provincce’s Bảo Thắng District. — Photo vinachem.com.vn
Viet Nam News

HÀ NỘI — The Việt Nam National Chemical Group (Vinachem) is targeting a 15.6 per cent increase in its industrial production value to more than VNĐ12 trillion (US$526.3 million) in the second quarter of this year.

The group also aims for a modest rise of 4 per cent in revenue to over VNĐ12.7 trillion in Q2, the Voice of Vietnam reported.

In the first quarter of this year, Vinachem focussed on enhancing its production capacity, accelerating exports while speeding up implementation of its under-way projects.

During the reviewed period, the group’s industrial production output saw a yearly increase of 5 per cent to VNĐ9.68 trillion. Its revenue surged 6 per cent year-on-year to VNĐ10.1 trillion.

Under the 2016-20 restructuring scheme submitted to Ministry of Industry and Trade (MoIT), Vinachem has sought the approval of the Prime Minister and MoIT to allow the corporation to divest from member companies to ensure feasibility and efficiency.

The chemical group is set to carry out equitisation from now to 2019 and proposes that the Government retain a controlling stake of between 51 per cent and 65 per cent after equitisation. It also plans to raise its charter capital by VNĐ5 trillion through a share issuance during equitisation. — VNS

 

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