SoEs sells stakes for over 186 million USD in 5 months
State-owned enterprises sold shares worth more than 2.08 trillion VND (93.2 million USD) in book value for 4.17 trillion VND (186.3 million USD) in the first five months of 2016.
The State Capital Investment Corporation (SCIC) offloads its shares to earn over 2.8 trillion VND from a total book value of 985 billion VND in the first five months. (Photo: VNA)
Hanoi (VNA)🍸 – State-owned enterprises sold shares worth more than 2.08 trillion VND (93.2 million USD) in book value for 4.17 trillion VND (186.3 million USD) in the first five months of 2016, said the Ministry of Finance on June 6.
Some 37 state-owned firms received approvals for their equitisation plans, including Machines and Industrial Equipment Corporation, Vietnam Engine and Agricultural Machinery Corporation, Vietnam National Construction Consultants Corporation, Corporation 36, Vietnam Forest Corporation, and Vietnam General Corporation of Agricultural Materials.
The State Capital Investment Corporation (SCIC) also offloaded its shares in a number of companies during the period, earning over 2.8 trillion VND (125.9 million USD) from a total book value of 985 billion VND (44 million USD).
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According to the ministry, total budget revenue during the first five months reached 396.2 trillion VND (17.7 billion USD), equaling 39.1 percent of this year’s target and representing an increase of 4.5 percent over last year.
Budget spending was 466.3 trillion VND (20.8 billion USD), equivalent to 36.6 percent of the yearly estimate and a year on year expansion of 4.7 percent.
Overspending stood at around 70 trillion VND (3.1 billion USD), accounting for 27.6 percent of the estimated total.-VNA
The State Capital Investment Corporation has unveiled plans to sell the entire State capital of 10 big State-owned enterprises which could garner the State budget earnings of almost 4 billion USD.
The upcoming divestment of State capital from 10 major companies is not likely to cause big impact on the market, said an official from the Finance Ministry.
The State Capital Investment Corporation (SCIC) divested State capital from 120 businesses in 2015, earning 94.49 trillion VND (200.17 mln USD) from a book value of 1.68 trillion VND (74.9 mln USD).
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The State Capital Investment Corporation (SCIC) offloads its shares to earn over 2.8 trillion VND from a total book value of 985 billion VND in the first five months. (Photo: VNA)
