SCIC to divest from powerful companies next month

November 21, 2017 | 17:20

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Next month, State Capital Investment Corporation (SCIC) will divest the state’s stake in a number of large-scale companies, including FPT, Bao Minh Corporation, and Domesco JSC.

Company	*State holding*
Tien Phong Plastics JSC	37 per cent
Binh Minh Plastics	30 per cent
Domesco JSC	35 per cent
Bao Minh Corporation	51 per cent
FPT Corporation	6 per cent
Vietnam Consultancy and Investment JSC	30 per cent
Lam Dong Pharmaceutical JSC	32 per cent
Sa Giang Export, Import JSC	50 per cent
Engineering, Electricity and Construction JSC	29 per cent
Vinacontrol JSC	30 per cent
The state will divest from these heavyweights in December

The total state capital value in these firms is VND1.645 trillion ($74.77 million). As planned, detailed information about the divestment will be announced in December.

According to Le Long, manager of SCIC's Strategy and Planning Department, SCIC has so far divested from 975 companies with proceeds of VND27.47 trillion ($1.24 billion), equivalent to three or four times the book value.

During 2017-2020, SCIC plans to divest from 132 companies with expected proceeds of over VND13.5 trillion ($613.6 million). They include the two giants: Vinamilk with 39 per cent and Vietnam Construction Import-Export JSC with 58 per cent.

For 2017, SCIC plans to divest from 115 companies. It has divested over 30 firms and will divest the rest by the end of 2017.

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By By Bich Thuy

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