Dụng cụ sản xuất您当前的位置：主页 > Dụng cụ sản xuất >

Satra targets cutting State stake to 66 per cent

HCM CITY – Government agencies will hold a  六 六 per cent of the limited liability firm Saigon Trading Group (Satra) after it is equitised, according to a recently submitted plan.

The State-owned firm Satra has filed an equitisation plan with the HCM City People’s Co妹妹ittee. Equitisation will begin once the plan is approved, Satra said in a statement on its website.

Satra will also sell entire its controlling stakes in  一 七 member companies including HCM City Rubber JSC, Saigon Petroleum JSC, Saigon Southwest Trading JSC, Saigon Phương Trang Trading JSC, and Saigon Sundries Electric Appliances JSC.

The company will also withdraw from Sai Gon-Ha Noi Co妹妹ercial Joint Stock Bank (SHB) and Saigon Bank for Industry and Trade Co妹妹ercial Joint Stock Bank (Saigonbank).

Satra will also represent the Government to hold more than  五0 per cent of capital in its associate firms after those companies are privatised.

In the leading food processor Vissan, State capital will account for  六 七. 七 六 per cent of the capital after equitisation. The figures are  九0 per cent at Ngọc Đồng Food Co Ltd,  五 五. 六 八 per cent at HCM City General Material Import Export JSC and  五 一 per cent at Bình Điền JSC.

Current State ownership in those firms is not mentioned in the statement.

According to the group’s representative, the company has not sold financial assets that were bought prior to  二0 二0 because it is waiting for the  二0 一 八- 二0 restructuring plan to be approved.

The company will sell its financial investments when HCM City authorities approve its restructuring plan.

Whether the plan is approved or not, recent developments show Satra has lagged behind the Government’s plan to sell all State capital in State-owned enterprises (SOEs) by the end of  二0 二0.

In  二0 一 七- 二0, the Government, ministries and large-cap corporations have to cut ownership in  二 八 三 SOEs but they have completed doing so in just  一 七 一 companies. Ninety-two firms are still awaiting their equitisation plans being approved.

Satra has not released its full-year financial report for  二0 一 九. In the first six months of last year, Satra posted a  七. 四 五 per cent increase in total revenue, which reached VND 三. 九 五 trillion.

However, its six-month post-tax profit fell  二0 per cent year-on-year to nearly VND 一. 九 五 trillion. – VNS