mai hien

Vinalines was ready for IPO

Wednesday, 03 May 2017 01:14

The enterprise has made solid preparations, taken advantage of the opportunity to be ready for this important event.

The state holds 65% of charter capital at Controlling Company – Vinalines

Determianation of Vinalines equitization (CPH) is an important political task in 2017. Currently, Vinalines plans to implement CPH with key processes: The time to determine the value of the business is December 31, 2016; Approved business value in July 2017; Approval of Equitisation Plan in November 2017; The firstt time out Auction of share (IPO) in December 2017; Holding the first shareholders meeting; Business registration, launching a joint stock company in January 2018.

Recently, the Government has decided that the State will hold 65% of authoried capital at the controlling company- Vinalines when CPH. At the same time, Vinalines is allowed to hold 65% or more of authoried capital at major seaports such as Hai Phong, Saigon, Da Nang and Can Tho.

The decision to hold 65% of authoried capital of the parent company – Vinalines shows that the Government highly appreciates the important role of Vinalines in socio-economic life. Holding the governed right at major seaports will increase the attractiveness of strategic investors for equitisation. With this new decision, the position and value of this business will definitely be different. Although still facing a series of difficulties, Vinalines of 2017 will no longer image "shipwreck" as in previous years, it will gradually “float” on water surface.  Evidence that the results of business activities in 2016 of Vinalines has become brighter when fulfilling the targets set annual plans, reducing losses, balance financial…

Specifically, ocean shipping achieved 24.019 million tonnes, up 7% compered to 2015 and 14% higher than the plan in 2016. Shipments through the port reached 78.022 million tonnes, up 17%  compered to 2015 and 6% higher than the plan for 2016. Total revenue is 16,014 billion VND, reached 90% compared to the  total revenue  in 2015 and equal to 94% of the plan in 2016.

Vinalines seaport operation in 2016 saw strong growth, the profit before tax was nearly 923 billion VND. This is really impressive figure in the current business context.

Restructuring in the right direction

According to Mr.Nguyen Canh Tinh, Vinalines director general, impressive results thanks to restructuring in the right direction, investing in seaport business firmly. After CPH,  Ports are growing strongly. Before CPH, Hai Phong port had achieved over 200 billion VND  in profit, but in 2016 reached over 670 billion dong. The port of Da Nang before equitization was only about 40-50 billion profit, but after equitization had reached more than 150 billion profit ... Joint ventures such as CMIT, CICT, SSIT also increased their output and sales. In addition, maritime services and other activities recorded VND1,100 billion profit.

In addition, services and others activities in 2016 also saw a profit of nearly VND1,140 billion, most of Vinalines' service businesses are profitable.The highlight of Vinalines business activities is that the corporation has coordinated the strength of the member businesses in the three groups: shipping, seaports and maritime services to create a comprehensive supply chain service to our customers, offering competitive advantage in the marketplace, delivering superior value to our customers.

Vinalines has launched international marketing activities, seeking new markets outside of Vietnam, opening the way for a deeper integration into the world, and to make Vietnam one of the destination maritimefield which is the top choice in the area.

Source: baogiaothong