The State Capital Investment Corporation (SCIC) will retain its shares in FPT Telecom, Vinamilk (VNM), Hau Giang Pharmaceutical (DHG) and Vietnam National Reinsurance Corp (VNR) as part of its long-term investment strategy.
This was stated in a restructuring plan approved by Prime Minister Nguyen Tan Dung on December 2 with the aim of distributing State capital into key industries more reasonably and enhancing financial efficiency in enterprises until 2015.
Several local news websites calculated that with VNM, DHG and VNR share prices increasing sharply this year, SCIC had earned over 22 trillion VND (1.05 billion USD) in profits.
They estimated that VNM had made the company 1.4 trillion VND (66.67 million USD) in dividends in 2013, up 40 percent over 2012.
FPT Telecom, of which SCIC owns more than half the equity, has helped to earn the state corporation 200-250 billion VND (9.5-11.9 million USD) per year since its initial investment.
SCIC will continue to hold controlling stakes in 26 companies dealing in roads, waterways, tourism, minerals, trade, investment and services; and withdraw capital from 376 firms, including Vietnam Construction and Import-Export Corp (Vinaconex), FPT Group, Bao Viet Holdings, Binh Minh Plastic and Tien Phong Plastic.
It is expected to raise equity to 50 trillion VND (2.38 billion USD) by 2015, according to the plan.-VNA
