Hanoi (VNA) -The State Capital Investment Corporation (SCIC) has announced that in the firstquarter of 2017, it recorded 639 billion VND (28.1 million USD) in revenue, 584billion VND (25.7 million USD) in pre-tax profit and 503 billion VND (22.1million USD) in post-tax profit.
The results were rather modest compared to thetargets set for the whole year, which are 11.24 trillion VND (494.3 millionUSD) in revenue, 8.33 trillion VND (366.4 million USD) in pre-tax profit, and7.34 trillion VND (322.8 million USD) in post-tax profit.
SCIC Deputy Director General Nguyen Hong Hien tolda press conference on April 19 that the poor performance is attributable to thefact that State capital is often sold in the third and fourth quarters. SCICcan only specify the exact value of State capital at companies throughfinancial reports which are submitted after their shareholders’ meetings in thefirst and second quarters.
Meanwhile, a large number of small-sizedenterprises also made the divestment of State capital unattractive to investors,leading to low revenue in the first quarter, he added.
Meanwhile, chairman ofthe SCIC members’ council Nguyen Duc Chi affirmed that all activities of SCICaim to maintain the value of State capital at businesses and make that capitalprofitable.
Regarding SCIC’sinvestment projects in 2017, Chi said the corporation decided to invest in acancer medicine factory project in Vietnam. With this project, SCIC hopes thata Vietnamese business will be set up to produce cancer medicine for localpeople.
SCIC and the Vietnam National Cancer Hospital (KHospital) signed a memorandum of understanding on investment cooperation in theform of public-private partnership (PPP).
In addition, the company will continue with its financialtower project whose construction is set to begin in 2017.-VNA
The results were rather modest compared to thetargets set for the whole year, which are 11.24 trillion VND (494.3 millionUSD) in revenue, 8.33 trillion VND (366.4 million USD) in pre-tax profit, and7.34 trillion VND (322.8 million USD) in post-tax profit.
SCIC Deputy Director General Nguyen Hong Hien tolda press conference on April 19 that the poor performance is attributable to thefact that State capital is often sold in the third and fourth quarters. SCICcan only specify the exact value of State capital at companies throughfinancial reports which are submitted after their shareholders’ meetings in thefirst and second quarters.
Meanwhile, a large number of small-sizedenterprises also made the divestment of State capital unattractive to investors,leading to low revenue in the first quarter, he added.
Meanwhile, chairman ofthe SCIC members’ council Nguyen Duc Chi affirmed that all activities of SCICaim to maintain the value of State capital at businesses and make that capitalprofitable.
Regarding SCIC’sinvestment projects in 2017, Chi said the corporation decided to invest in acancer medicine factory project in Vietnam. With this project, SCIC hopes thata Vietnamese business will be set up to produce cancer medicine for localpeople.
SCIC and the Vietnam National Cancer Hospital (KHospital) signed a memorandum of understanding on investment cooperation in theform of public-private partnership (PPP).
In addition, the company will continue with its financialtower project whose construction is set to begin in 2017.-VNA
VNA
