|1. Tin Nghia Bank|
City: Ho Chi Minh
|2. Haxaco JSC.|
Category: Vehicle Sales
City: Ho Chi Minh
|3. UTXICO Corp.|
Category: Food Manufacturing
City: Soc Trang
|4. Viet A Group|
City: Ha Noi
|5. CT-IN JSC.|
City: Ha Noi
City: Ho Chi Minh
The restart of the State owned enterprises (SOEs) equitization process has been seen by experts as the golden opportunity for the merger and acquisition (M&A) market.
Also according to MOF, 93 SOEs have registered to carry out the equitization right in 2012, including the 22 SOEs belonging to ministries, 33 SOEs under economic groups and general corporations, and 33 local enterprises.
The list of the SOEs includes the big names that foreign investors have been eyeing, such as Vinatex, a textile and garment group, Binh Son petrochemical refinery, Viglacera, a building material manufacturer, or Lilama – the machine installation and construction corporation.
Prior to that, the Vietnam Shipbuilding Industry Group Vinashin offered to transfer its stakes in 32 companies in different fields, from investment funds, gas, tourism, porcelain to oil rig manufacturing.
Thirteen subsidiaries and the land assets at four other subsidiaries of the shipbuilding groups have also been put on sale.
The land properties include 318,000 square meters in waters area for aquaculture in Quang Binh and Thua Thien-Hue provinces; the land plot for education establishments and the new urban areas in Da Nang City and Quang Nam province.
This is a part of the program on restructuring enterprises of the big economic groups with 200 subsidiaries. Under the program, Vinashin would retain 15 subsidiaries, two joint ventures, one associated company by 2013
The restructuring process at Vinashin, plus the equitization of a series of SOEs, are the goals of many investors.
According to Pham Tuan Anh, Deputy Director of the SOE Renovation Department, there were nearly 6000 SOEs in 2001, while the figure has dropped to 1309, while 60 percent of which would have to go equitized in the time to come.
“The equitization process would be sped up, which would serve as a great opportunity for investors to make merger and acquisition deals,” Tuan said.
Andy Ho. Managing Director of VinaCapital, the investment fund which has invested in four SOEs, including Vinamilk (dairy producer), Phu My Fertilizer, Lam Thao Fertilizer and Phuoc Hoa rubber, has said that the equitization process in Vietnam, an indispensable activity in a developing market of Vietnam, has entered the final stage.
He believes that the liquidity in the stock market would increase, thus pushing up merger and acquisition affairs. He can see a high possibility of SOEs making IPO (initial public offering) in the next three years.
The list of attractive enterprises, according to Andy Ho, includes Vinatex, Vietnam Airlines, Vinafood 1 and Satra. Especially, the equitization of MobiFone, a big telecom corporation with the turnover of 2.1 billion dollars and pretax profit of 286 million dollars, has become very attractive in the eyes of investors.
The government of Vietnam has been urged to speed up the equitization of SOEs as an effort to restructure the state owned economic sector which is enjoying most of the national resources, but still cannot bring the desired effects.
|< Prev||Next >|
» Vietnam urged to grab opportunity to be brought by QE3 to attract US FDI
» Travel firms reap success in Tet holiday
Latest Category Posts
- Japan ends Trifluralin tests on Vietnamese shrimp
- Domestic rice exports continue to rise
- Wall Street English launches first branch in Vietnam
- IMF positive about Vietnam’s macro-economy
- CPI drops again in both major cities
- Index outstrips magic 500 mark
- VPBank, VCCorp enter partnership
- Trade deficit starts soaring in half May
- Coffee to get preferential credit loans
- Vietnam unlikely to meet 5.5% GPD growth target
Popular Category Posts
- In economic recession, Vietnamese still spend money on luxurious cars
- Vietnamese billionaires better known in western world
- Enterprises agree to first BPO partnership
- VN rice sector concerned as Thailand mulls sell-off
- Newspaper names VN’s 100 strongest brands
- The Vietnamese billionaires who return from East European countries
- MobiFone blocks 18 spam SMS numbers
- Vietnamese steel makers hurt by deficit
- VN int’l fair boosts up handicraft and wood industry
- MOIT lends a hand to EVN to raise electricity price
- Vietnam vows to impose heavy punishment to stop seafood material bleeding
- Who is the real owner of “Vinacafe”?
- Even big foreign investors cannot reach for Sabeco
- Officers seize GmB milk, find new violation
- Firms say state capital manager’s role insignificant
- Google fined $7 million over hotspot data grab
- Vietnam vows to restrain prices to curb inflation
- Fast food chains hunt for retail premises, real estate market warms up
- Cbank takes move to stabilize forex market, but not gold
- Samsung’s $2 billion project goes “incredibly quickly”