KPMG becomes Vinashin’s auditor

The Vietnam Shipbuilding Industry Group (Vinashin) has appointed KPMG, one of the leading international consultancy companies in Vietnam , as its auditor.

The move aims to transform Vinashin into an international-level group with healthy financial resources and affirms the group’s commitments to following international law and practices.

Apart from financial auditing services, KPMG will also help Vinashin in the areas of risk administration and corporate financial management, based on international rules and norms.

According to Business Manager Nguyen Quoc Anh, the group plans to issue shares worth 3 trillion VND at home and 400 million USD worth of shares abroad.

The wholly state-owned enterprise, which is also the country’s largest shipbuilding and industry group, operates in various types of businesses, including shipbuilding and repair, maritime transportation, heavy industries, offshore and civil engineering, and financial and market research.

In the first nine months of this year, Vinashin, which now has 200 affiliates, posted a revenue of over 19.6 trillion VND, an increase of 71 percent over the same period last year.

VNA

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