August 30, 2017 | 21:07 (GMT+7)
SOEs divest USD 163.4 million in eight months
State-owned enterprises (SOEs) divested more than VND 3.7 trillion (USD 163.4 million) in book value from investment in non-core operations during the first eight months of 2017, according to the Ministry of Finance’s Corporate Finance Department.
They earned over VND 15.8 trillion (USD 695.3 million) for the State coffer from sale of their investment.
The State Capital Investment Corporation (SCIC) sold nearly VND 1.4 trillion (USD 61.4 million) worth of stakes in 21 SOEs, earning over VND 12.2 trillion (USD 538.5 million). The amount included 5.4 percent of its total shares in Vietnam Dairy Products JSC (Vinamilk) that were sold for more than VND 11.3 trillion (USD 496.6 million).
Seven SOEs have had their equitization plans approved in August.
So far, equitization plans of 33 SOEs have been approved in the first eight months of this year, with total real state capital in those enterprises worth approximately VND 20.9 trillion (USD 918.7 million).
The Ministry of Finance recommended the government to assign the Ministry of Industry and Trade to fast-track the divestment of state ownership at top brewers Habeco and Sabeco this year. If divestment announcements are not released before September 30, the ownership’s right over the State capital in the two firms should be transferred to SCIC to ensure the pace of divestment, it proposed.
Source: VNA