State Capital Investment Corp. reaps VND5.2 billion in profits in 2014
State Capital Investment Corp. reaps VND5.2 billion in profits in 2014
The State Capital Investment Corporation (SCIC) invested more than VND13 trillion in businesses by the end of 2014, according to its latest report.
Last year, SCIC earned VND5.194 billion of net profit, 15% over the plan and an increase of 14% compared to 2013. The return on equity (ROE) reached 19.7%, 14.3% higher than the yearly goal.
Its total assets reached VND69 trillion, an increase of 13 times compared to the time of its establishment in 2006. The equity was estimated at over VND31 trillion, nine times over that in 2006.
In the last nine years, SCIC has successfully sold capital in 724 enterprises, earning VND6,256 billion, 2.2 times more than the book value. It has invested over VND13 trillion in local enterprises.
This year SCIC will take over state ownership at some state-owned corporations after equitization; sell state capital in some enterprises approved by the Prime Minister; invest in the banking sector; and consider several merger and acquisition deals.
