|
SCIC to divest 281 firms
The State Capital Investment Corporation (SCIC) is looking to divest 281 enterprises and to sell the entire State stake in 170 local enterprises, Corporation General Director Lai Van Dao told a year-end meeting.
Dao said the corporation, the representative of state-owned capital in state-owned enterprises, would diversify financial and project investments, making those in major sectors a priority.
The corporation has 538 enterprises in its portfolio.
"The selling of state-owned capital would be one of the major priorities of the Government as state-owned capital in state-owned enterprises is reduced in industries that do not need a great deal of State control," the Government's Enterprise Reform and Development Vice Chairman Pham Viet Muon told reporters.
The SCIC sells state-owned capital by public auction, with securities companies acting as consultants and trading agencies.
Last year, SCIC divested 106 companies, including the entire state-owned stake in 97 local firms for VND642 billion (US$29.86 million), more than twice their book value. SCIC gained a total revenue of VND2.75 trillion ($127.91 million), including a pre-tax profit of VND2.44 trillion ($113.49 million).
Since it was established in 2005 to December 31 last year, SCIC has overseen a State stake in 932 enterprises, divested 442 enterprises and sold the entire State stake in 399 firms for VND2.21 trillion ($102.79 million) compared to the book value of VND984 billion ($45.77 million).
vietnamnews
|
