VietNamNet Bridge - The State Capital Investment Corporation (SCIC) has announced a plan to sell stakes in 120 businesses in 2016. However, the list does not include the names most wanted by investors.

SCIC has stated that it would divest from 120 businesses this year.

The total charter capital of the 120 businesses is VND37.7 trillion, of which the state holds VND6.3 trillion.

Meanwhile, the list of enterprises that SCIC managed as of the end of 2015 showed that SCIC still holds capital in 197 enterprises with total value of VND19.74 trillion.

The figures showed that in 2016 SCIC plans to divest its stake from 60 percent of the  enterprises, but that just accounts for 32 percent of total value.

This means that SCIC will only let small businesses go, while it will still hold the most profitable ones.

The State Capital Investment Corporation (SCIC) has announced a plan to sell stakes in 120 businesses in 2016. However, the list does not include the names most wanted by investors.

The list of 120 businesses to be sold this year includes well-known names such as FPT (IT Group), Maritime Bank, Vinaconex (construction), Quang Ninh , Vinh Son – Song Hinh, Hai Phong, Pha Lai Thermopower JSCs and Gemadept (shipping).

Meanwhile the list of 77 businesses to be retained includes the Military Bank, Vinamilk (dairy producer), Vinare (re-insurer), Hau Giang Pharmacy, Bao Minh (insurer), TIen Phong and Binh Minh Plastics.

An analyst noted that the second group comprises enterprises which have higher value of shares and pay higher dividends than the ones in the first group.

The absence of Vinamilk, FPT Telecom and Bao Minh on the list of enterprises to be sold in 2016 has disappointed investors.

Investors and the financial investors’ association in the past urged SCIC to divest shares in enterprises which operate in business fields which don't need to hold stakes.

They felt excited when the Prime Minister in late 2015 released a document requesting SCIC to build up a plan to divest from 10 enterprises, hoping that they would have the opportunities to buy stakes of large conglomerates soon.

However, to date, only two out of the 10 names have been mentioned by SCIC – Sa Giang and FPT.

The other eight businesses include Vinamilk, Bao Minh, Ha Giang Minerals, Vinare, Tien Phong Plastics, Binh Minh Plastics and the Vietnam Infrastructure & Real Estate Corporation.

The analyst said the latest decision by SCIC has discouraged but not surprised him. “SCIC is trying to retain the most profitable businesses which can bring it high profits every year,” he said

“One can see that the list of enterprises to be sold this year includes enterprises SCIC put on sale in 2015, but the stakes couldn't sell,” he noted.


CV