Of the 10 SOEs, Vinamilk, the nation’s leading dairy producer, proves to be the most impressive. In 2014, the State Capital Investment Corporation (SCIC) the representative of the state in Vinamilk, received VND1.5 trillion worth of dividends from the ‘milk cow’, which made up 21.6 percent of the corporation’s total revenue from investments.

SCIC is now the largest shareholder in Vinamilk with 45.08 percent of stakes. With the current market price of VND115,000 per share, SCIC would get $2.3 billion, a huge amount of money, if it sells its stakes now.

The investors who eye Vietnam’s telecom, also a very lucrative business field, may find opportunities with FPT Telecom as SCIC plans to sell its 50.2 percent of FPT Telecom stakes. 

An analyst commented that this is a golden opportunity for Truong Gia Binh, one of the most influential businessmen in Vietnam, and chair of the largest domestic information technology group FPT, to increase FPT’s ownership ratio in FPT Telecom.

The analyst noted that it is not distribution or software development but instead telecom activities that bring the highest profits to FPT Group. The 2014 White Book on Vietnam’s information technology and telecommunication showed that FPT Telecom ranked second in the market in broadband internet market share with coverage in 59 out of 63 cities and provinces in Vietnam.

Besides FPT Telecom, SCIC will also divest 6 percent of FPT shares.

According to the Saigon Securities Incorporated (SSI), Vinamilk and FPT shares have been hunted by foreign investors. The investors trade shares among them at the prices which are 10-20 percent higher than market prices since there is no more room for foreign investors.

Meanwhile, two plastics companies Tien Phong and Binh Minh are holding the largest market share in the south and north. The Nawaplastic Industries (Saraburi) from Thailand is the second biggest shareholder, and SCIC the second, with 23.84 percent and 20.4 percent of stakes, respectively.

The Thai group has expressed its willingness to increase its ownership ratio and analysts believe this is the right time for it to implement the plan.

Meanwhile, Bao Minh and Vinare, both insurers, are big brands in the finance market. Bao Minh held a 9.12 percent of market share in 2014, ranking third after Bao Viet (20.89 percent) and PVI (21.26 percent).

If SCIC withdraws capital, REE will have a chance to raise its ownership ratio in VIID, an infrastructure developer, from the current 46.4 percent.

NCDT