VNPT to start equitization process in 2019

(AFP/George Frey) TOKYO: Failed Bitcoin exchange MtGox, whose spectacular collapse hammered the digital currency's reputation, is to be liquidated after a Japanese court ordered bankruptcy proceedings on Thursday, said a lawyer appointed to carry out the process. Tokyo-based MtGox went dark in February, shortly after it blocked Bitcoin withdrawals, claiming there was a bug in the software that underpins the virtual currency, making it vulnerable to thieves. The exchange filed for bankruptcy protection soon after, admitting it had lost 850,000 coins which were worth nearly $500 million at the time. It made a similar filing in the United States in…... [read more]

VietNamNet Bridge – It’s still unclear if the Vietnam Post and Telecommunications Group VNPT would equitize or merge the two mobile networks VinaPhone and MobiFone. VNPT plans to submit to the Ministry of Information and Communication the plan to restructure the economic group in February 2012, which would be then submitted to the government in the first quarter of the year. The restructuring plan would comprise many issues, but the biggest question to every one is how VNPT would deal with VinaPhone and MobiFone, the two big mobile networks and big bread earners for the group. Under the Telecommunication Law,…... [read more]

SOE equitization program restarted on low noteBy Tu Hoang - The Saigon Times DailyHANOI – Vietnam has restarted a major plan to equitize State-owned enterprises (SOEs) after long delays caused by the troubled stock market and economic woes.According to the Ministry of Finance, as of June 20, 93 SOEs had registered for equitization this year, with 22 under ministries, 33 under State conglomerates and corporations, and 38 under local authorities.The SOE equitization plan is a Government effort to restructure the State corporate sector, which is holding most of the nation’s resources but not performing as well as hoped.Jonathan Pincus, senior…... [read more]

Ministries have approved the restructuring plans of additional State-owned enterprises (SOEs), with the latest including the Vietnam Mobile Telecom Services One Member Limited Liability Company (Mobifone) and the Vietnam Post Corporation (VNPost), in line with the Government’s SOE restructuring action plan.The Ministry of Information and Communications (MIC) concluded that Mobifone would be fully equitised in 2018, while VNPost would not be listed in the foreseeable future.Other SOEs including the Viet Nam Posts and Telecommunications Group (VNPT) and the Viet Nam Multimedia Corporation (VTC) are in line to complete equitisation by 2019.For the first 10 months of 2017, the Prime Minister…... [read more]

The PV Oil will sell a part of State capital to conduct the equitization process.Under the decision, the PVOIL will have a charter capital of over VND 10,342 trillion of which PVN will hold VND 363,014,555 stocks, accounting for 35.1% of the charter capital. Preferential stocks will be given to workers with 1,864,300 stocks or 0.18% of the charter capital. The others of 206,845,900 stocks will be on sale, making up 20% of the charter capital. Strategic investors will hold 462,504,746 stocks or 44.72% of the charter capital. Every stock will value VND 10,000. Foreign investors are invited to purchase stocks…... [read more]

Officially put into operation in early 2008, after nearly 10 years of construction and development, VNPT Soc Trang has quickly affirmed its position as a leading provider of telecom - information technology products and services in Soc Trang province. With its ongoing efforts to deploy new products, services and technologies, improve the quality of services and customer care, and maintain market share, VNPT Soc Trang is always a trusted address to bring a “true life” to customers. Imprints in restructuring In addition to meeting information and communication demands in urban areas, VNPT Soc Trang always focuses on investing for industrial…... [read more]

Could you tell us specific steps which Vinacomin must take in 2014-2015 to complete the equitization of its member units? Of the six member units which must be equitized in 2014, three units (Mineral Corporation, Electricity Corporation and Viet Bac Mining Industry Corporation) have over VND500 billion in chartered capital. Vinacomin is identifying the business values of these corporations to report to the Ministry of Industry and Trade and submit their equitization plans to the prime minister for approval. The evaluation of the three corporations must be finished by the end of the second quarter of 2014 and then the…... [read more]

A timely policy  According to a report by the Nghe An Equitization Board, since 1998, the province has equitized 72 State-owned enterprises (SOEs), leased eight, dissolved four, transformed five and merged 28 (18 with central government and 10 with localities). Currently, seven SOEs are undergoing the process, four are being equitized, two dissolved and one sold. After equitization, the enterprises have improved their business efficiency, increasing the output, turnover, profit, and revenue as well as income of the workers. Production has been reorganised with new equipment : Rao Gang brick and tile joint stock company has a new production line, Nghe An bus…... [read more]

1. Establishing the Vietnam Posts Corporation under VNPT The VNPT officially founded the Vietnam Posts Corporation on December 26, 2007. It also finished separating the postal section and the telecommunications section within its organization under a pilot project approved by the Prime Minister. From now on, post offices in cities and provinces will be under the Vietnam Posts Corporation, while the respective telecommunications sections will be directly under the parent company VNPT.   2. Promoting cooperation with major partners in the fields of banking, insurance, and construction investment VNPT signed strategic cooperation agreements with major Vietnamese banks and finance, insurance…... [read more]

A series of ports to be equitized It is expected that 3 ports of Quy Nhon, Da Nang and Hai Phong would see the equitization process completed in 2013. Meanwhile, the equitization of the Saigon port would begin later, because it needs to be relocated to the Hiep Phuoc area before the equitization starts.How and when? Source VietNamNet... [read more]