SCIC ORGANIZE ANNUAL CONFERENCE OF STATE CAPITAL REPRESENTATIVE 2019-07-22

On 17/07/2019at Nghe An province, State Capital Investment Corporation organized the conference of state capital representative at enterprises. This is the annual conference held by SCIC with attendance of more than 200 SCIC’s capital representatives.

Until 30/06/2019, the investment portfoliomanaged by SCIC comprises of 144 enterprises, with the state capital by booked value as roughly 28947 billion VND over the total chartered capital as 99501 billion VND, including: 139 jointed stock companies, 1 two-member Limited Liability Company; 04 one-member Limited Liability Companies comprising of state capital at 11 Corporation such as: Bao Minh Insurance Corporation, Vietnam Hydraulic engineering consultants corporation – JSC, Seaprodex, Cienco 5, Cienco 8, Viettronics, Vinare, Vocarimex and Vietnam Steel Corporation; and Bao Viet Insurance Corporation and Vietnam National Textile and Garment Group.

Activities of state capital management have been conducted via 259 turns of representatives, including 180 turns of representatives who are managers, administrators at enterprises (69,5%)

The results of state capital representativeness atenterprises shows the improvement in effectiveness of activities of representatives at enterprises, helping SCIC conducting rights and responsibilities of shareholders at enterprises in a better way. The majority of SCIC’s representatives, with the role as key leaders of enterprises, took the leading, directing well plans and resolutions Annual General Meeting, completing over the business plan 2018, specifically: Lam Dong Tourism JSC (347%), Binh Duong Construction Consultants Investment JSC (BICONSI) (227%), Can Tho Construction infrastructure Plant JSC ( 237%), An Giang Exporting Importing JSC (180%),.. Many enterprises achieved ROE rate over 30% such as Vietnam Consulting Investment and Investment JSC (93%),Trang Tien Plaza Co, Ltd (72%), An Giang stone exploitation & processing LLC (71%), Binh Duong Construction Consultants Investment JSC (BICONSI) (40%), Vinamilk (39%), Khanh Hoa seafood Exporting importing JSC (31%), FPT Telecommunication JSC (31%)…

About state capital divestment, one of SCIC’ key missions in this period, regardless of market challenges, representatives of state capital at SCIC’ enterprises coordinated well with SCIC solving difficulties, supporting in consulting, building capital divestment documentation, introducing investors, promoting divestment process successfully. Accumulating since establishment to 30/06/2019, SCIC divested successfully at 999 enterprises (including 896 enterprises fully divested, 84 enterprises partially divested) and sell purchasing rights at 19 enterprises with the cost price of 11128 billion VND and gained 47178 billion VND (4,2 times as high as cost price). The result has reflected SCIC’ efforts and representatives in conducting well missions assigned by the Government, simultaneously deploying business plan of SCIC.

In the process of organizing General Annual Meetings, representatives actively worked in prior with SCIC about meeting contents such as building business plan, investment plan, HR structure, business activities restructuring, solving remains…; reporting and sending full meeting documentation to SCIC, ensuring benefits if state shareholders at enterprises. Together with SCIC, representatives at enterprises contributed ensuring benefits of state shareholders at enterprises responsibly. The assessing results in 2018 showed among 290 representatives assessed, there were 132 representatives achieved goal excellently, accounting for 45,5%; 118 representatives fully achieved goal, accounting for 40,7%.

Leaders of SCIC stated that with the role of state capital governing body, shareholders at enterprises, SCIC continuously improved capacityin management and governing for representatives, issuing, updating tools and methods, together with representatives, achieving the highest results for enterprises and the government. In the upcoming time, SCIC is co-ordinating actively with related government bodies in fulfilling law regulations about representatives, including perk & salary for representatives, as well as policies for representatives at enterprises after full state capital divestment.

SCIC is actively accelerating the application of technology in co-ordinating with representatives. In the upcoming time, SCIC will apply information system managing personnel and enterprise data, in coordination with representatives, using to improve efficiency of state capital management.