According to the Ministry of Finance, Licogi Corporation has lost a great deal of State capital. The total short-term debt of the firm has surpassed short-term assets by more than 1.2 trillion VND.
The Ministry of Industry and Trade (MoIT) will transfer State capital ownership representative rights in five enterprises to the State Capital Investment Corporation (SCIC) in the first quarter of this year.
The Ministry of Industry and Trade has announced that its Department of Finance and Enterprise Innovation will step up the restructuring and equitisation of State-owned enterprises (SOEs), together with listing them on the stock market.
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.
Over 40 percent of the charter capital of the Infrastructure Development and Construction Corporation (LICOGI) was transferred from the Ministry of Construction to the State Capital Investment Corporation (SCIC) on December 26.
The Commission for the Management of State Capital at Enterprises (CMSC) has bought nearly 165 million shares of the national flag carrier Vietnam Airlines, bringing its total stake to more than 1.22 billion shares, according to the Hanoi Stock Exchange.
The Vietnam National Shipping Lines (Vinalines) surpassed all its production and business targets set for 2018, with its maritime transport output reaching 24.3 million tonnes of goods, and total revenue hitting 13.85 trillion VND (592.8 million USD).
The recently-established Committee for the Management of State Capital at Enterprises (CMSC) will have a heavy workload to shoulder, needing great efforts exerted to overcome this challenge, according an expert.
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).
The restructuring and equitisation of State-owned enterprises (SOEs) should focus on quality instead of quantity, and the State’s investments need to be restructured to become more effective, an expert has said.
Only 11 State-owned enterprises (SOEs) were equitised in the first nine months of this year, making the country’s target to complete the equitisation of at least 85 SOEs this year unlikely to reach, according to an official from the Ministry of Finance (MoF).
The State Securities Commission has approved Vinaconex’s request to lock its ceiling foreign ownership ratio at zero percent, saying the move complies with regulations.
The Ministry of Agriculture and Rural Development (MARD) inked an agreement to transfer its ownership of State capital in five State-owned agriculture enterprises (SOEs) to the Committee for Management of State Capital (CMSC) on November 15.
The Ministry of Transport (MoT) has handed over five corporations under its management to the Committee for Management of State Capital at Enterprises (CMSC).
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