Loss state-owned shipping company assessed for equitization

Vietnam National Shipping Lines (Vinalines) on Thursday submitted to the Ministry of Transport a report on its value of VND16,741 billion (US$737 million) for equitization.

Floating dock 83M, one hundreds of billions of dong loss making projects of Vinalines

Floating dock 83M, one hundreds of billions of dong loss making projects of Vinalines

Of the total value, state capital value is VND10,144 billion. The company’s assets are not counted to its value, approximating VND1,237 billion.
According to the company’s equitization project approved by the Prime Minister, the state will hold 65 percent of Vinalines’ chartered capital and Vinalines will keep 65 percent chartered capital of its subsidiaries comprising Hải Phòng Seaport Company, Saigon Seaport and Đà Nẵng Seaport.
Vinalines said that after three years of restructuring, the company’s loss has reduced by VND8,021 billion ($353 million).

By BICH QUYEN – Translated by Hai Mien

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