State capital investment company records $141 mln in H1 profit

By Trang Nguyen
Fri, August 5, 2022 | 3:36 pm GTM+7

Vietnam's State Capital Investment Corporation, which manages and invests state capital in enterprises, reported an after-tax profit of VND3,310 billion ($141 million) in the first half of 2022, down 42% year-on-year and fulfilling 92% of the year's profit plan.

SCIC logo. Photo courtesy of the company.

SCIC logo. Photo courtesy of the company.

The company (SCIC) achieved a revenue of VND4,915 billion ($210 million) during the period, a 29% rise compared to the same period last year, according to its review meeting for the first six months.

Dividend revenue reached $157 million, equaling 63% of the year's plan. Stake sale revenue hit $30.6 million, 53% of the year's target.

As of June 30, 2021, SCIC's business portfolio included 128 companies with a total state capital of $2.02 billion, while its total charter capital reached $6.76 billion.

Since the beginning of the year, the corporation has successfully sold stakes in 17 enterprises, reaping proceeds of $30.6 million on the capital expenses of $5.47 million.

In the first half, SCIC cooperated with the state-run Vietnam Expressway Corporation (VEC) in seeking investment opportunities in the field of infrastructure, studied a project to sell toll collection rights on the North-South Expressway, and partnered with the Airports Corporation of Vietnam (UPCoM: ACV) to explore a project supplying aircraft fuel at Long Thanh International Airport, a giant project under construction in Dong Nai province.

It has also cooperated with the Southern Airports Services JSC (Sasco, UPCoM: SAS) to study a gas port project, partnered with Petrovietnam to study upgrading and expanding Dung Quat Oil Refinery, and teamed up with Vietnam Railways to study a railway logistics project.

In the last six months of the year, SCIC will focus on selling its stakes in a number of large firms like Vietnam Water and Environment Investment Corporation, Electric Machine JSC, international manpower supply and trade company Sona JSC, and Vinh Long Real Estate JSC.

Comments (0)
  • Read More
Vietnam’s GDP growth to keep driving southern industrial property market: report

Vietnam’s GDP growth to keep driving southern industrial property market: report

The industrial and logistics market in Ho Chi Minh City, Dong Nai, Binh Duong, Long An, and Ba Ria-Vung Tau will continue to grow in 2022-2023 thanks to Vietnam’s resilient economic expansion, according to Cushman and Wakefield.

Real Estate - Fri, September 30, 2022 | 3:32 pm GTM+7

Vietnam needs bonded warehouses for US cotton imports

Vietnam needs bonded warehouses for US cotton imports

Building a Vietnam bonded warehouse for U.S. cotton would benefit both countries, Vietnam Textile and Apparel Association (Vinatas) chairman Vu Duc Giang said Friday.

Industries - Fri, September 30, 2022 | 3:19 pm GTM+7

Thai giant Central Retail eyes mall investment in Binh Thuan

Thai giant Central Retail eyes mall investment in Binh Thuan

Thailand's Central Retail is seeking opportunities to build malls and supermarkets in Binh Thuan province.

Industries - Fri, September 30, 2022 | 3:05 pm GTM+7

Unemployment hits 2.28% in Q3, lowest in 2 years

Unemployment hits 2.28% in Q3, lowest in 2 years

Vietnam's unemployment rate dropped by 1.7 percentage points year-on-year to 2.28% in the third quarter, the lowest since 2020.

Economy - Fri, September 30, 2022 | 11:38 am GTM+7

Looking up HCMC’s highest high-end homes

Looking up HCMC’s highest high-end homes

Housing projects like The River Thu Thiem, Lumière Riverside, Grand Marina Saigon, and The Opera Residence are home to the most expensive penthouses in Ho Chi Minh City.

Real Estate - Fri, September 30, 2022 | 9:36 am GTM+7

US dollar scales record high peak of VND24,000

US dollar scales record high peak of VND24,000

The exchange rate at Vietnamese commercial banks crossed VND24,000 per dollar Thursday, reaching a new peak that it had not scaled before.

Banking - Thu, September 29, 2022 | 9:45 pm GTM+7

Proptech firm Levitate makes its debut in Vietnam

Proptech firm Levitate makes its debut in Vietnam

Singapore-headquartered housing development platform Levitate has made Vietnam its debut market, giving consumers in the country more creative input when buying their own home.

Real Estate - Thu, September 29, 2022 | 9:19 pm GTM+7

VN-Index drops for fifth consecutive day despite strong economic data

VN-Index drops for fifth consecutive day despite strong economic data

Vietnam’s benchmark VN-Index dropped 17.55 points Thursday to 1,126.07, despite newly-released data showing the country’s nine-month GDP growth hitting 8.83%, a record high in 12 years.

Finance - Thu, September 29, 2022 | 5:18 pm GTM+7

Steel giant Hoa Phat starts operating $42 mln home appliance factory

Steel giant Hoa Phat starts operating $42 mln home appliance factory

Hoa Phat Group has begun production at its new home appliance factory worth VND1,000 billion ($42 million) in Ha Nam province.

Industries - Thu, September 29, 2022 | 4:28 pm GTM+7

Four major markets spend $27 billion importing phones, components from Vietnam

Four major markets spend $27 billion importing phones, components from Vietnam

The U.S., EU, China and South Korea imported nearly $27 billion worth of phones and components from Vietnam in the first eight months of the year, according to the Ministry of Industry and Trade.

Economy - Thu, September 29, 2022 | 4:06 pm GTM+7

Hai Phong aims to attract $15 billion in FDI for 2020-2025

Hai Phong aims to attract $15 billion in FDI for 2020-2025

The northern port city of Hai Phong seeks to build 15 more industrial parks totaling 6,200 hectares to attract $15 billion in foreign direct investment in 2020-2025.

Industries - Thu, September 29, 2022 | 3:13 pm GTM+7

Viettel picks Taiwan’s UfiSpace for massive 5G roll out

Viettel picks Taiwan’s UfiSpace for massive 5G roll out

Vietnamese tech giant Viettel has selected Taiwanese 5G solutions supplier UfiSpace to jointly deploy disaggregated cell site gateways for Viettel’s massive 5G rollout in Vietnam.

Industries - Thu, September 29, 2022 | 2:27 pm GTM+7

Ministry proposes inclusion of five coal-fired projects in new power plan

Ministry proposes inclusion of five coal-fired projects in new power plan

The Ministry of Industry and Trade has proposed that the government includes five coal-fired thermal power projects in the national power development plan VIII.

Energy - Thu, September 29, 2022 | 1:16 pm GTM+7

Vietnam’s nine-month GDP growth highest in 12 years

Vietnam’s nine-month GDP growth highest in 12 years

Vietnam’s economic growth of 8.83% year-on-year in the first nine months is the highest recorded in 12 years.

Economy - Thu, September 29, 2022 | 12:19 pm GTM+7

Vietnam a top five investment destination for Warburg Pincus: CEO

Vietnam a top five investment destination for Warburg Pincus: CEO

Vietnam is an increasingly attractive and important investment destination for U.S. firms, and one of the five most significant locations for Warburg Pincus, its CEO Charles Kaye said Wednesday.

Industries - Thu, September 29, 2022 | 11:05 am GTM+7

Tokyo Gas, Kyuden Group ink LNG power project pact

Tokyo Gas, Kyuden Group ink LNG power project pact

Japan's Tokyo Gas and Kyuden Group have inked a memorandum of understanding with Truong Thanh Vietnam JSC on jointly developing an LNG-to-power project with a phase-one capacity of 1,500 megawatts in northern Vietnam.

Energy - Thu, September 29, 2022 | 6:30 am GTM+7