Vietnam govt investment arm sees H1 profit double to $236 mln on dividend collections
State Capital Investment Corporation (SCIC), the government’s investment arm, booked consolidated net profits of VND5,927 billion ($236.23 million) in H1/2024, up 95.14% year-on-year, as the firm collected hefty dividends from investee companies.
The state-run corporation earned revenues of VND3,947 billion ($157.3 million) during this period, up 41% year-on-year, SCIC said in its quarterly consolidated financial statement.

SCIC head office, Hanoi. Photo courtersy of SCIC.
SCIC’s H1/2024 net profit has already surpassed its 2023 figure at VND5,266 billion ($209.88 million).
Its H1 earnings have not included those related to Vietnam Television Tower JSC and Vietnam Airlines, where it holds stakes of 33% and 31.14%, respectively. Both companies have not completed their financial statements.
The corporation is the sole owner of SCIC Investment Company Limited, or SIC and has three affiliates, Lao-Viet International Port JSC, SCIC-Bao Viet Investment JSC and Vietnam Investment and Consulting Investment JSC, in which it holds stakes of 27%, 50% and 30%, respectively.
Between January and June, SCIC collected VND2,923 billion ($116.5 million) in dividends from its portfolio companies, up 45.5% year-on-year. The biggest dividend payers were brewer Sabeco (HoSE: SAB) and dairy firm Vinamilk (HoSE: VNM).
In addition, the corporation recorded reversals of investment provisions worth VND1,466 billion ($58.37) in H1, up 116% year-on-year, contributing to its earnings growth.
As of June 30, SCIC had a total assets value of VND62,311 billion ($2.48 billion), down 0.7% from end-2023. This included VND27,983 billion in bank deposits and VND29,456 billion in receivables from stake sales.
Long-term financial investments totaled VND30,629 billion ($1.22 billion), including VND10,679 billion in listed companies and VND19,636 billion in unlisted ones.
SCIC has said it will divest holdings from 58 companies this year, including majors in their respective industries like Tien Phong Plastic (HNX: NTP); FPT Group (HoSE: FPT); Vietnam Seaproducts Joint Stock Corporation (UPCoM: SEA); and Domesco Medical Import Export Joint Stock Corporation (HOSE: DMC).
As of January 2024, SCIC had 147 companies under its management, little changed from 145 as of December 2021.
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