SCIC to divest all stakes in 66 companies

SCIC to divest all stakes in 66 companies. Photo: tinnhanhchungkhoan.vn

The list of 66 companies slated for full divestment covers a wide range of sectors. Notable names include Vietnam Plastics Corporation, Tien Phong Plastic, Domesco Medical Import-Export, Vietnam Steel Corporation, Vietnam National Textile and Garment Group (Vinatex), Vietnam National Construction Consultants Corporation, Vietnam Industrial Construction Corporation, LICOGI Corporation, Vietnam Fisheries Corporation, Lao-Viet International Port JSC and Pha Lai Thermal Power.

The list also includes companies operating in construction, building materials, transport, trading, services and import-export, such as Fico Corporation, Transport Engineering Construction 8 Corporation, Sovilaco International Manpower JSC, Vietnam Book Corporation, PVTech JSC and several other local businesses.

Meanwhile, SCIC will retain 100 per cent ownership of SCIC Investment Co., Ltd., while maintaining stakes in other businesses at levels aligned with its investment strategy and business plans. These include Trang Tien, Vietnam Pharmaceutical Corporation (Vinapharm), Song Da Corporation, Bao Minh Insurance Corporation, Vietnam National Reinsurance Corporation (VinaRe), Vinamilk, DHG Pharmaceutical, SABECO, Traphaco, FPT and Vietnam-Oman Investment JSC. Especially, SCIC is currently the largest stakeholder of Vinamilk with a percentage of 36 per cent.

According to SCIC, the restructuring portfolio may be adjusted depending on business performance and market developments, to ensure compliance with corporate classification criteria and relevant regulations.

The divestment list represents a notable potential supply source for the stock market in the next few years, particularly as it includes several large businesses and well-known brands.

At the same time, retaining stakes in 21 companies shows its strategy is not simply to maximise divestment. Instead, the plan points to a broader restructuring of its investment portfolio, with SCIC withdrawing from investments that are no longer necessary, while concentrating resources on businesses considered strategically important or where continued state ownership is required.

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