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Minority of state companies get auditor’s thumbs up
The State Audit of Vietnam has given the 2007 accounts of state-owned corporations a clean bill of health, even though only four of 23 entities have provided information.
“The audited corporations’ finances were sound and their business activities were effective,” State Audit of Vietnam Deputy General Director Le Minh Khai told a press briefing yesterday.
The national audit office has completed 83 of 135 planned audits of city and provincial governments.
So far, the office has found VND231 billion (US$14 million) in unpaid taxes and fees.
Of the 49 affiliates of the four state-owned corporations audited, 45 were profitable.
The audit office released the 2007 results of the audited entities, Vietnam National Shipping Lines, Vietnam Multimedia Corporation, Khanh Viet Corporation and Saigon Real Estate Corporation.
Vietnam National Shipping Lines, the country’s biggest sea transport company, posted pre-tax profit of VND1 trillion ($60.04 million).
During the year, the company spent some $670 million on 36 seagoing vessels with combined capacity of 850,000 dead weight tons (DWT).
The audit office said Vietnam Multimedia Corporation, which imports equipment used in broadcasting, telecommunications and civil electricity, posted a 286 percent rise in pre-tax profit last year on 2006.
Khanh Viet, Vietnam’s biggest producer of paper, cigarettes, garments and textiles, reported pretax profit of VND268 billion ($16.09 million) in 2007.
Saigon Real Estate Corporation reported 2007 pre-tax profit of VND373.4 billion ($22.42 million).
Thanhnien
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