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SCIC holds on investment in key businesses

🐲The State Capital Investment Corporation (SCIC) will retain its shares in FPT Telecom, Vinamilk (VNM), Hau Giang Pharmaceutical (DHG) and Vietnam National Reinsurance Corp (VNR) as part of its long-term investment strategy.   

🌠The State Capital Investment Corporation (SCIC)will retain its shares in FPT Telecom, Vinamilk (VNM), Hau Giang Pharmaceutical(DHG) and Vietnam National Reinsurance Corp (VNR) as part of its long-terminvestment strategy.

🥀Thiswas stated in a restructuring plan approved by Prime Minister Nguyen Tan Dungon December 2 with the aim of distributing State capital into key industries morereasonably and enhancing financial efficiency in enterprises until 2015.

ꦕSeverallocal news websites calculated that with VNM, DHG and VNR share pricesincreasing sharply this year, SCIC had earned over 22 trillion VND (1.05billion USD) in profits.

♏Theyestimated that VNM had made the company 1.4 trillion VND (66.67 million USD) individends in 2013, up 40 percent over 2012.

🍷FPTTelecom, of which SCIC owns more than half the equity, has helped to earn thestate corporation 200-250 billion VND (9.5-11.9 million USD) per year since itsinitial investment.

𒉰SCICwill continue to hold controlling stakes in 26 companies dealing in roads,waterways, tourism, minerals, trade, investment and services; and withdrawcapital from 376 firms, including Vietnam Construction and Import-Export Corp(Vinaconex), FPT Group, Bao Viet Holdings, Binh Minh Plastic and Tien PhongPlastic.

♑It isexpected to raise equity to 50 trillion VND (2.38 billion USD) by 2015,according to the plan.-VNA

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