Monday, July 22 2019

VietNamNews

SCIC to divest capital at big firms in 2019

Update: June, 26/2019 - 08:01

 

The State Capital Investment Corporation (SCIC) plans to sell State capital at 108 businesses in 2019. — Photo vneconomy.vn

HÀ NỘI — The State Capital Investment Corporation (SCIC) plans to sell State capital at 108 businesses including many big ones this year.

SCIC has released the list of State-owned enterprises from which it would divest State capital in 2019.

The list includes some giants such as Bảo Minh Joint Stock Corporation which SCIC holds 51 per cent of charter capital, FPT Joint Stock Company with 6 per cent, Bảo Việt Group with 3 per cent, Quảng Ninh Thermopower Joint Stock Company with 11 per cent, Licogi Corporation with 41 per cent, Vocarimex with 36 per cent and Hải Phòng Thermopower Joint Stock Company with 9 per cent.

Việt Nam Dairy Products JSC (Vinamilk) was also in the list of capital withdrawal of SCIC this year. However, SCIC has to wait for instructions from Prime Minister Nguyễn Xuân Phúc for the divestment from Vinamilk.

SCIC also announced its businesses and investment plans this year with targeted revenue of VNĐ6.5 trillion (US$280 million) and pre-tax profit of more than VNĐ5 trillion.

As of May 31, 2019, SCIC held stakes at 144 businesses with total State capital on book value of over VNĐ28.6 trillion and market value of around VNĐ116 trillion.

From 2017 to May 2019, SCIC sold State capital at 51 businesses including Vinamilk and Bình Minh Plastic JSC. Of these, it sold all capital at 47 firms, reducing ownership at four companies and selling the right to buy shares at other two. The total value obtained was VNĐ20.1 trillion, over the cost price of VNĐ3 trillion. 

The SCIC reported revenue of VNĐ12.7 trillion in 2018, increasing 72 per cent from the previous year. Its gross profit rose by 43 per cent to VNĐ9.78 trillion last year.

By the end of last year, its total assets were VNĐ50 trillion. — VNS

 

 

Send Us Your Comments:

See also: