The State Capital Investment Corporation (SCIC) has successfully sold its stakes in 13 companies in the first five months of this year to collect VND148 billion (US$6.5 million).

This was VND46 billion higher than their cost price.

In May alone, SCIC collected VND53 billion by selling stakes in five companies.

As of today, SCIC owns stakes in 141 enterprises with a total State capital worth more than VND18.9 trillion in book value out of the total charter capital of VND93.16 trillion.

SCIC will continue to focus on improving corporate governance and restructuring to enhance the operational efficiency of the firms in its portfolio.

The corporation reported a revenue of VND639 billion in the first quarter of this year, equivalent to 22 per cent of the revenue of the same period last year, with a pre-tax profit of VND584 billion.

This year, SCIC has targeted VND11.2 trillion in revenue and VND8.33 trillion in pre-tax profit. — VNS