State capital investment firm reports huge revenue, profit in 2018

The State Capital Investment Corporation (SCIC) got the revenue of VND12,582 billion (US$542 million) as of December 31, 2018, meeting 159 percent of the year plan, reported deputy director general of SCIC Nguyen Chi Thanh.
Dividend revenue was estimated to reach VND3,399 billion accounting for 138 percent of the plan and 169 percent of the number during the same period in 2017. Capital sale revenue hit VND7,692 billion meeting 187 percent of the plan and eight time higher than the same period last year. Financial revenue reached VND1,480 billion making up 114 percent and 111 percent respectively.
Pre-tax profit was VND9,467 billion accounting for 153 percent of the plan while after tax profit hit VND8,253 billion making up 152 percent. In 2018, SCIC’s tax payment was expected to reach VND6,990 billion meeting 154 percent of the year plan.
According to SCIC, the corporation received state capital ownership representative right at 14 companies with the total capital of VND4,055 billion, a strong increase compared to two previous years when it received only VND1 trillion a year.
Among the 14 companies are Vietnam National Textile and Garment Group (Vinatex) and Vietnam Seaproducts Joint Stock Corporation (Seaprodex).

By HA MY – Translated by Hai Anh

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