State capital management firm reports high revenue in H1

Hanoi (VNA) – The State Capital Management Corporation (SCIC) has reported over 3.05 trillion VND (131.15 million USD) in revenue in the first half of this year, a rise of 762 billion VND over the same period last year.

In the reviewed period, after-tax profit of the corporation increased nearly 1.2 trillion VND, more than 50 percent in the same time last year.

The results signaled a bright prospect for SCIC operation in the whole year. Furthermore, as of June 30, owner’s capital invested in the corporation reached over 32.41 trillion VND, up 6.37 trillion VND compared to that in the last day of last year.

SCIC’s total short-term and long-term assets hit over 56.9 trillion VND, 6.82 trillion VND higher than the result at the end of last year.

The firm’s short-term investment alone was 31.61 trillion VND as recorded on June 30, while income from other sources was 36.1 trillion VND.

As of June 30, the SCIC has owned, invested in and cooperated witheight companies. Total revenue of the corporation’s partner companies in the first half of 2019 reached over 3.18 trillion VND, with net profit hitting more than 1.55 trillion VND. Profit from the SCIC’s investment in the partner companies fetched about 462 billion VND, 420 billion VND higher than that in the same time last year.

Also in the first half of 2019, the SCIC paid 1.68 trillion VND in tax.-VNA