Posts Tagged ‘ State capital ’

Vietnam Airlines to become major owner of Jetstar Pacific 

January 20, 2012
Vietnam Airlines to become major owner of Jetstar Pacific 

Jetstar Pacific will continue to operate as a low-cost carrier The government’s stake in budget airline Jetstar Pacific, held via the State Capital Investment Corp., will be transferred to national carrier Vietnam Airlines, local media reported Wednesday, citing a directive. Jetstar Pacific, which is partly owned by Australia’s Qantas, will continue to operate as a [...]

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SCIC pleads ‘not guilty’

December 17, 2009
SCIC pleads ‘not guilty’

Finance Minister Vu Van Ninh and senior staffs of the State Capital Investment Corporation went public on December 15 with explanations of irregularities exposed by an official audit.  Until Vietnamese newspapers latched onto criticisms of extraordinarily high salaries contained in a report by the State Audit Agency early this month, SCIC was an obscure holding [...]

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Financial misdeeds uncovered at gov’t investment arm

December 13, 2009
Financial misdeeds uncovered at gov’t investment arm

Tran Van Ta, general director of State Capital Investment Corp., or SCIC, received an average monthly salary of VND78.5 million last year State auditors have asked the State Capital Investment Corp. to identify those responsible for massive financial irregularities recently uncovered at the government investment arm, including millions in unreported funds. The company (SCIC) will [...]

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SCIC boosts divesture to restructure portfolios

October 8, 2009
SCIC boosts divesture to restructure portfolios

LookAtVietnam – The State Capital Investment Corporation (SCIC) has strongly divested State stakes in hundreds of shareholding companies this year The Government-owned company in September alone divested State capital in 97 State-turned-shareholding concerns, compared to its divestment of State capital in 58 companies in the entire 2008, according to the report. In the year to [...]

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Gov’t arm lacks the experience for large projects, investors say

September 11, 2009
Gov’t arm lacks the experience for large projects, investors say

The Vietnam Association of Financial Investors said the government’s investment arm should not be allowed to invest in three large Ho Chi Minh City projects because it doesn’t have enough experience. In a proposal sent to the city government and the Ministry of Finance, the non-profit association said SCIC, or the State Capital Investment Corp., [...]

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Vietnam gov’t agency to invest in energy, infrastructure projects

July 23, 2009
Vietnam gov’t agency to invest in energy, infrastructure projects

The State Capital Investment Corp. (SCIC), the investment arm of the government, said it would invest in big projects in energy and infrastructure run by other state-owned corporations. Ngo Viet Son, director of the corporation’s Investment Department III, told Thanh Nien Daily the investments would be funded by the money SCIC earns from selling off [...]

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Vietnam considering forcing businesses to list

June 4, 2009
Vietnam considering forcing businesses to list

VietNamNet Bridge – Foreign investors who attended the Vietnam Business Forum on June 1, said that the reform of the capital market needs to be accelerated. The equitisation process needs to be sped upDominic Scriven, representative of the Capital Market Working Group, said that the equitisation process needs to be sped up and the government [...]

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Equitized companies to be forced onto exchange

June 4, 2009
Equitized companies to be forced onto exchange

The State Securities Commission will force equitized companies to list on the stock exchange to increase their share trading liquidity and transparency. “The aim is to protect the shareholders,” SSC chairman Vu Bang said on Monday at the Vietnam Business Forum in Ho Chi Minh City, without giving a timeframe.Nguyen Hai Son of FPT Securities [...]

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State equity in firms poorly managed

May 2, 2009
State equity in firms poorly managed

State equity in former State-owned enterprises that have been equitised remains poorly managed due to the overlapping authority of ministries and provincial governments, said State Capital Investment Corporation deputy director Le Song Lai. State Capital Investment Corporation deputy director Le Song Lai. VietNamNet Bridge – State equity in former State-owned enterprises that have been equitised [...]

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Feature

Vietnam, Cuba foreign ministries to bolster ties

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Vietnam’s top diplomat has affirmed that the Foreign Ministry will closely cooperate with its Cuban counterpart to implement the agreements reached by the two...