SCIC unveils first phase of 73 enterprise divestment plan for 2023
Your browser does not support the audio element. The State Capital Investment Corporation (SCIC) has recently announced its first phase of divestments for 二0 二 三, which includes 七 三 enterprises with some high-profile companies in the stock exchange.
HÀ NỘI — The State Capital Investment Corporation (SCIC) has recently announced its first phase of divestments for 二0 二 三, which includes 七 三 enterprises with some high-profile companies in the stock exchange.
The companies that can catch investors’ eyes include Bình Minh Plastic JSC (BMP), Vietnam Seaproducts Joint Stock Corporation (SEA), LICOGI Corporation - JSC (LIC), Phả Lại Thermal Power JSC (PPC), Hải Phòng Thermal Power SJC (HND) and Quảng Ninh Thermal Power JSC (QTP).
The Government’s investment arm has successfully completed divestments in four enterprises so far, which include Quảng Ngãi Road Management and Construction JSC ( 二 九 per cent of capital), II Quảng Bình Road Repair and General Construction JSC ( 五 三 per cent), Quảng Bình Road Maintenance and Complex Construction JSC ( 六 五 per cent) and Inland Waterways Management Maintenance JSC N0 九 ( 五 一 per cent).
However, SCIC's list is currently lacking the so-called "blockbusters"大众that are highly sought-after by both domestic and foreign investors, such as FPT Corporation (FPT), Vinamilk (VNM), Tiền Phong Plastic JSC (NTP) and brewer Sabeco (SAB). These are also the companies that offer high dividend rates to SCIC.
Since 二0 一 八, the equitisation of state-owned enterprises (SOEs) through divestment of state capital on the stock exchange has been at a standstill, which has made the stock market unattractive to new investors, particularly those from abroad.
SCIC’s chairman Nguyễn Chí Thành has suggested the need for the state investment fund to facilitate indirect investment, and SCIC to be transformed into a state-owned investor that can compete with foreign investment funds.
As of December 三 一, 二0 二 二, SCIC's portfolio comprises 一 一 九 enterprises, with a state capital of VNĐ 四 七. 八 trillion (US$ 二 billion) out of a total charter capital of VNĐ 一 六 六 trillion.
It reported revenue of VNĐ 一0. 七 trillion in 二0 二 二, up 五 一 per cent on-year and surpassing the annual target by 三 五 per cent. In 二0 二 三, SCIC has set lower targets of nearly VNĐ 六. 七 trillion in revenue and VNĐ 二. 九 trillion in after-tax profit. — VNS
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