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Trang Tien Plaza will be equitized in 2018, the State holds 51 percent

Trang Tien Plaza will be equitized in 2018

Trang Tien Plaza will be equitized in 2018 and completed its valuation in May 2018. The state will hold a 51% stake in this business.

Deputy Prime Minister Vuong Dinh Hue has just signed the Decision No. 1001 / QD-TTg approving the Scheme on sorting and classifying enterprises of the State Capital Investment Corporation (SCIC) up to 2020.

Trang Tien Plaza will be equitized in 2018
Trang Tien Plaza will be equitized in 2018

Specifically, according to the plan of sorting and arranging SCIC’s businesses up to 2020, five SCIC companies will be equitized and sold: An Giang Stone Exploiting and Processing Limited Company; Trang Tien Trading Investment Company Limited (Trang Tien Plaza); HPI Investment and Development Limited Liability Company; MTV Printing and publishing limited liability company; Ho Chi Minh City Statistical Printing Co., Ltd.

As of December 31, 2016, SCIC owns 90% of Trang Tien Plaza, the remaining 10% belongs to Hanoi Trading Corporation (Hapro). According to the approved plan, Trang Tien Plaza will be equitized in 2018 and completed the valuation of the company in May 2018. The state will hold a 51% stake in this business.

Currently, Trang Tien Plaza is hired by the IPP Group of businessmen Jonathan Hanh Nguyen to be the center of the brand, serving mainly high-income class and foreign guests.

Two SCIC companies continue to invest in SCIC One Member Limited Liability Company (SIC); FPT Telecom (FPT Telecom).

In the period 2017 – 2020, SCIC will sell capital in 132 enterprises, including big names such as Bao Minh Corporation (51% owned by the company), Binh Minh Plastic Company (30%), FPT Corporation Vietnam National Reinsurance Corporation (40%), Military Bank – MBBank (10%), Bao Viet Group (3%), Traphaco (36%), Vietnam Milk – Vinamilk (39%), Vietnam Vegetable Oil Industry Corporation – Vocarimex (36%) …

In addition, there are 3 enterprises processing in particular way: Thua Thien Hue Aquaculture Products and Services Company; Industrial trade service company; Vinh Loi Import Export Company.

4 SCIC enterprises will actively sell capital during 2017 – 2020 as: Vietnam – Oman Investment Company; Vietnam Investment and Investment Consultancy Company; Vietnam Television Tower Investment Company; Bao Viet SCIC Investment Joint Stock Company.

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