14 July 2017

State to divest capital from Sabeco, Habeco via open tenders

Sabeco beer production plant (Source: tinnhanhchungkhoan.vn)


Hanoi (VNA) – The State will divest its capital in the Saigon Beer, Alcohol
and Beverage Corporation (Sabeco) and the Hanoi Beer Alcohol and Beverage Joint
Stock Corporation (Habeco) through open tenders.

The
information was released at the Ministry of Industry and Trade’s press
conference on July 14.

Deputy
head of the ministry’s Light Industry Department Bui Truong Thang said that Habeco
will submit its State capital divestment plan to the ministry next week, while
Sabeco will table it before July 31.

At
present, the State is holding 89.59 percent and 82 percent of capital of Sabeco
and Habeco, respectively.

Together
the two beer producers account for about 60 percent of the domestic market
share, with Sabeco making up 40 percent of the market share.

Also
at the press conference, a representative from the ministry said that the
ministry has to date submitted divestment and equitisation plans of the
Electricity of Vietnam (EVN), the Vietnam National Oil and Gas Group (PVN) and
the Vietnam National Chemical Group (Vinachem) to the Government.

Meanwhile,
the plan of the Vietnam National Coal and Mineral Industries Group will be
submitted within this month.

Deputy
Minister Do Thanh Hai asked for close supervision during the equitisation
process to avoid asset losses.

Regarding
the case on violations of Deputy Minister of Trade and Industry Ho Thi Kim
Thoa, he said that Thoa would likely be disciplined as the Party Central Committee’s
Inspection Commission had viewed her wrongdoings as serious. The Ministry will
announce the disciplinary measure publicly when it is issued.

According
to the Party Central Committee’s Inspection Commission, while holding the
position as Party Committee Secretary and Director of Dien Quang Lamp Company
from January 2004 to May 2010, Thoa violated regulations on business
equitisation and procedures and illegally handles loan interest exempted from
banks worth 6.7 billion USD (some 298,000 USD).

She also violated State regulations on land management when the Dien Quang
Company signed a contract to jointly invest in land in HCM City with Vietnam
Investment Construction Trade JSC without agreement from the land owner and
relevant authorities. She did not report relevant authorities to handle while
illegally handled revenue worth 30 billion VND (1.3 million USD) from
transferring the rights to exploit the land slot.

Thoa also bought shares exceeding allowed levels and violated Dien Quang
Company’s regulations on share transfer.-VNA



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