SCIC to divest capital at big firms in 2019
The State Capital Investment Corporation (SCIC) plans to sell State capital at 108 businesses including many big ones this year.
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 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 Bao Minh Joint Stock Corporation which SCIC 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 with 11 percent, Licogi Corporation with 41 percent, Vocarimex with 36 percent and Hai Phong Thermopower Joint Stock Company with 9 percent.
Vietnam 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 Nguyen Xuan Phuc for the divestment from Vinamilk.
SCIC also announced its businesses and investment plans this year with targeted revenue of 6.5 trillion VND (280 million USD) and pre-tax profit of more than 5 trillion VND.
As of May 31, 2019, SCIC held stakes at 144 businesses with total State capital on book value of over 28.6 trillion VND and market value of around 116 trillion VND.
From 2017 to May 2019, SCIC sold State capital at 51 businesses including Vinamilk 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 at other two. The total value obtained was 20.1 trillion VND, over the cost price of 3 trillion VND.
The SCIC reported revenue of 12.7 trillion VND in 2018, increasing 72 percent from the previous year. Its gross profit rose by 43 percent to 9.78 trillion VND last year.
By the end of last year, its total assets were 50 trillion VND. - VNS/VNA
You should also see
Millions of children in Vietnam protected by vaccination over 40 years: UN agencies
Millions of children in Vietnam have been protected by immunisation over the past 40 years, said the World Health Organisation (WHO) and UNICEF offices in Vietnam on April 25 when they mark the World Immunisation Week from April 24-30.
See more
Business
Vietnam-Singapore trade on the rise since start of 2024
Trade between Vietnam and Singapore topped 2.54 billion SGD (1.87 billion USD) in March, rising 4.29% year on year, according to the Trade Office of Vietnam in the city state.
Business
Petrol prices decrease slightly on April 25
The retail prices of petrol were adjusted down from 3pm on April 25 by the Ministry of Industry and Trade and the Ministry of Finance.
Business
Vietnamese canned sugarcane juice favoured in US
The first cases of Vietnamese canned sugarcane juice have hit supermarket shelves in Miami, the US state of Florida.
Business
Labels on foods exported to Singapore must be accurate: Trade counselor
Counsellor Cao Xuan Thang, head of the Vietnam Trade Office in Singapore, has advised Vietnamese exporters to pay attention to labeling pre-packaged food products to ensure their credibility and image of businesses when exporting to the Singaporean market.
Business
April 25 gold bullion auction cancelled
The State Bank of Vietnam (SBV) has announced that it canceled the gold bullion auction scheduled for April 25 morning as only one business submitted its bidding form.
