Business

SCIC reports profits 52 percent higher than target

The State Capital Investment Corporation (SCIC) reported after-tax profit of 8.25 trillion VND (356 million USD) in 2018, 52 percent higher than the annual target.
SCIC reports profits 52 percent higher than target ảnh 1Divesting from Vinaconex was one of SCIC’s most successful deals last year (Photo: VNA)

Hanoi (VNS/VNA) - The State CapitalInvestment Corporation (SCIC) reported after-tax profit of 8.25 trillion VND(356 million USD) in 2018, 52 percent higher than the annual target.

Its revenue was 12.58 trillion VND (541.3million USD), equivalent to 159 percent of its target.

SCIC estimated it had paid 6.99 trillion VND(300.7 million USD) in corporate income tax in 2018, 54 percent higher than thetarget, and paid 2.18 trillion VND (93.8 million USD) directly to theEnterprise Arrangement and Development Support Fund.

SCIC played an important role in therestructuring of State-owned enterprises.

Founded in 2005, SCIC divested State capital outof 986 companies to collect nearly 37 trillion VND (1.6 billion USD), comparedto the book value of 8.3 trillion (357 million USD).

In 2018 alone, SCIC earned nearly 7.78 trillionVND (334.7 million USD) from selling stakes at nine companies. SCIC’s two mostsuccessful deals last year were its sales of stakes of Binh Minh Plastics – themarket price of which is now just half of the price at which SCIC sold – andVietnam Construction and Import-Export Joint Stock Corporation (Vinaconex) at aprice three times higher than SCIC originally paid.

As of the end of 2018, SCIC’s portfolio included142 enterprises with a total State capital of 20.6 trillion VND (886.2 millionUSD), or 25 percent of the total charter capital.

In 2018, SCIC received transfers of Statecapital ownership representative rights at 14 enterprises with a total Statecapital of more than 4 trillion VND (172 million USD), including VietnamNational Textile and Garment Group (Vinatex) and Vietnam Seaproducts JointStock Corporation.

Up to now, SCIC held State capital ownershiprepresentative rights at 30 enterprises.

SCIC Deputy Director Nguyen Chi Thanh said thecompany would focus on seeking new investment opportunities in 2019 to increasethe efficiency of State capital usage.

SCIC Chairman Nguyen Duc Chi said the companyalways kept a close watch on the use of State capital at enterprises to ensureefficiency.

Chi expects new opportunities for State capitalinvestment as SCIC is one of 19 SOEs put under the management of the Commissionfor the Management of State Capital at Enterprises.

He added that SCIC is targeting growth of 7-8 percentin 2019.-VNS/VNA
VNA
#State Capital Investment Corporation #SCIC #SCIC's profit in 2018 #State capital divestment #Vinaconex #State capital ownership #Commission for the Management of State Capital at Enterprises #Binh Minh Plastics #updated Vietnam news #Vietnamplus #Vietnam News Agency
Follow VietnamPlus

Related News

SCIC evaluates State capital divestment

SCIC evaluates State capital divestment

Given the stock market’s recent lethargy, the State Capital Investment Corporation (SCIC) is assessing market demand to consider choosing the most efficient capital divestment options at State-owned enterprises (SOEs).
SCIC, Viettel sell their stakes in Vinaconex

SCIC, Viettel sell their stakes in Vinaconex

The State Capital Investment Corporation (SCIC) on November 22 sold its complete ownership in the Vietnam Construction and Import-Export JSC (Vinaconex) for 7.36 trillion VND (327.4 million USD).

See more

Thanks to digital transformation among local officials, Tam Dao commune of Phu Tho province has achieved an almost 100% on-time rate for processing administrative applications, helping improve public services for residents. (Photo: VNA)

Institutional reform fuels private sector's growth in Phu Tho province

The private sector is increasingly emerging as a key growth engine of the economy. To unleash its potential and ensure sustainable development, the northern province of Phu Tho is stepping up institutional and administrative reforms to cut costs, shorten procedures, and build a more transparent, business-friendly investment climate.

Hoa Phat Wharf inside the Dung Quat Economic Zone (Photo: VNA)

Dung Quat EZ, Quang Ngai IPs draw nearly 19.4 bln USD

The Dung Quat Economic Zone and Quang Ngai industrial parks have so far attracted 441 projects worth around 19.4 billion USD, according to the Dung Quat Economic Zone and Quang Ngai Industrial Parks Authority (DEZA).

The Kim Long Motor Hue factory (Photo: VNA)

Hue courts capital to turn industrial zones into growth engine

The economic and industrial zones in Hue city host more than 200 active investment projects worth over 152 trillion VND (5.84 billion USD), with 139 already operational. Since the start of 2026, they have generated about 32 trillion VND, contributed 4.2 trillion VND to the state budget and brought in 730 million USD in exports, while employing more than 46,000 workers.

Processing cashew nuts for export at Nguyen Thong Co., Ltd. in Dak Lak province. (Photo: VNA)

Vietnam’s exports to New Zealand post strong growth

According to the Customs Department, two-way trade reached 844 million USD in the first half of 2026, of which Vietnam’s exports to New Zealand totaled 399.7 million USD, up 18.8% year-on-year, while imports stood at 444 million USD.

Starting from September 2026, agricultural products from the Mekong Delta are expected to be transported directly from Cai Cui Port to Guangxi, China. (Photo: VNA)

Investing in logistics to boost agricultural production and exports

Logistics is increasingly becoming a major bottleneck for exports as transport costs rise and requirements for data management, low emissions and supply chain transparency become more stringent, requiring coordinated investment in logistics infrastructure, data infrastructure and transport capacity.

Harvesting rice in the Mekong Delta (Photo: VNA)

Vietnam seen as gateway for Canadian farm produce to ASEAN

As Canada steps up trade diversification and seeks to reduce its dependence on the North American market, Vietnam could serve both as a market for Canadian goods and a base for Canadian businesses to build production capacity and expand operations in the region.

Illustrative image (Photo: VNA)

Turkish cooperatives open sourcing channel for Vietnamese businesses

The Vietnam Trade Office recommended that Vietnamese businesses in agriculture and food actively study cooperative networks in different localities in Türkiye and consider them an additional channel for accessing raw materials, processing partners, and distribution networks.

Delegates at the signing ceremony (Photo: VNA)

VPI, Beicip-Franlab Asia deepen oil, gas cooperation

Under the MoU, VPI and Beicip-Franlab Asia will undertake advanced studies in geology, geophysics, and reservoir engineering to support exploration, field development, and oil and gas resource assessment.

A visitor explores Vietnamese coffee at the expo. (Photo: VNA)

Vietnam pushes coffee, farm produce at Hong Kong food expo

After nearly 200 years, especially since the Doi Moi (renewal) began in 1986, Vietnamese coffee is now exported to more than 100 countries and territories and supports about 2.6 million jobs. Vietnam remains the world’s second largest coffee exporter, holding roughly 19-21% of the global market, and is the top producer of Robusta coffee.

Delegates at the event (Photo: VNA)

Da Nang hosts 2026 International Logistics Forum

Co-hosted by the Ministry of Industry and Trade and the Da Nang People’s Committee, the forum put modern logistics, strategic infrastructure, digital transformation, green growth and international connectivity at the centre of discussions.

Prime Minister Le Minh Hung speaks at the working session. (Photo: VNA)

Monetary policy must ensure macro stability, support growth: PM

The SBV was required to keep policy interest rates steady and add liquidity so lenders can access cheaper funding. It must manage the exchange rate in line with market developments, coordinate monetary tools, and intervene to stabilise the foreign exchange market, while maintaining close oversight of gold. Lenders must continue cutting costs, stabilising lending rates, and delivering substantive reductions.

People buy petrol at a station in Hanoi (Photo: VNA)

Petrol prices cut from 15:00 on August 13

The price of E5 RON92 petrol is capped at 21,235 VND (0.81 USD) per litre, down 493 VND, while E10 RON95-III is priced at no more than 22,119 VND per litre, down 205 VND.