A process has been started to allow the Vietnam Shipbuilding Industry Corporation (SBIC) to declare bankruptcy, according to the deputy minister of transport Nguyễn Xuân Sang.
The Việt Nam Ship Building Industry Corporation (SBIC) plans to earn
nearly VND7.63 trillion (US$341.5 million) in revenue in 2017, 3 per
cent to 4 per cent higher than 2016.
The Transport Ministry has proposed that Shipbuilding Industry
Corporation (SBIC) be allowed to sell 70 per cent of shares at Song Cam
Shipbuilding Joint Stock Company to Damen Shipyards Group.
The Shipbuilding Industry Corporation (SBIC) is asking the Government
for a special mechanism to deal with debts and negative equities of its
subsidiaries before equitisation in the next 20 months.