The State Capital Investment Corporation (SCIC) plans to sell State capital at 108 businesses in 2019. (Photo: vneconomy.vn) Hanoi (VNS/VNA) - The State Capital Investment Corporation (SCIC)plans to sell State capital at 108 businesses including many big ones thisyear.
SCIC has released the list of State-owned enterprises from which it woulddivest State capital in 2019.
The list includes some giants such as Bao Minh Joint Stock Corporation whichSCIC holds 51 percent of charter capital, FPT Joint Stock Company with 6 percent,Bao Viet Group with 3 percent, Quang Ninh Thermopower Joint Stock Company with11 percent, Licogi Corporation with 41 percent, Vocarimex with 36 percent and HaiPhong Thermopower Joint Stock Company with 9 percent.
Vietnam Dairy Products JSC (Vinamilk) was also in the list of capitalwithdrawal of SCIC this year. However, SCIC has to wait for instructions from PrimeMinister Nguyen Xuan Phuc for the divestment from Vinamilk.
SCIC also announced its businesses and investment plans this year with targetedrevenue of 6.5 trillion VND (280 million USD) and pre-tax profit of more than 5trillion VND.
As of May 31, 2019, SCIC held stakes at 144 businesses with total State capitalon book value of over 28.6 trillion VND and market value of around 116 trillionVND.
From 2017 to May 2019, SCIC sold State capital at 51 businesses includingVinamilk and Binh Minh Plastic JSC. Of these, it sold all capital at 47 firms,reducing ownership at four companies and selling the right to buy shares atother two. The total value obtained was 20.1 trillion VND, over the cost priceof 3 trillion VND.
The SCIC reported revenue of 12.7 trillion VND in 2018, increasing 72 percentfrom the previous year. Its gross profit rose by 43 percent to 9.78 trillion VNDlast year.
By the end of last year, its total assets were 50 trillion VND. - VNS/VNA
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