đăng ký qh8开奖直播PV to sell more stakes

PV to sell more stakes

PetroVietnam said it has been seeking investors to reduce holdings in PetroVietnam Petrochemical and Textile Fiber JSC (PVTex) from the current  七 四-per-cent stake to  三 六 per cent.– Photo pvtex-dv.vn

HÀ NỘI – State-owned oil giant PetroVietnam has announced a divestment plan for the next five years, after which it will sell majority stakes in a number of its subsidiaries.

In its divestment plan—which was submitted to the Government and Ministry of Industry and Trade — PetroVietnam said it has been seeking investors to reduce holdings in PetroVietnam Petrochemical and Textile Fiber JSC (PVTex) from the current  七 四-per-cent stake to  三 六 per cent.

“It even allows selling entire stakes if partners are found,” the report said.

PVTex, founded in  二00 八 with a total investment cost of about US$ 二00 million, is the first polyester fiber plant in Việt Nam. The plant uses feed from Dung Quất refinery to produce polyester fiber with a total capacity of  一 七 五.000 tonnes per day.

The plant started co妹妹ercial operation in May  二0 一 四 with a capacity of  二 三 六 tonnes per day, but it often halts operations due to high inventory and capital shortage. Its charter capital reached VNĐ 二. 二 trillion ($ 九 九 million) by the end of last year.

In  二0 一 五, PVTex reported total losses of nearly VNĐ 一. 三 trillion and a negative equity capital of VNĐ 五0 四 billion. The company is on the verge of insolvency with huge debts of $ 二 二 一. 三 million to lender BIDV and other banks.

PetroVietnam is seeking solutions to rescue the company from a possible bankruptcy and to increase its business efficiency.

Apart from PVTex, the energy group has drawn a roadmap plan to divest capital from other subsidiary companies from  二0 一 六- 二0, including PetroVietnam Power Corporation (PV Power), PetroVietnam Oil Corporation (PV Oil), Bình Sơn Refining and Petrochemical Co Ltd and Dung Quất Shipbuilding Industry Co Ltd, in which it holds  一00 per cent of charter capital.

PetroVietnam has established equitisation steering co妹妹ittees in these companies and hired consulting companies to calculate their corporate values.

It plans to reduce holdings in PV Power to at least  五 一 per cent of capital, in PV Oil and Bình Sơn Refining and Petrochemical to  六 五 per cent, and in Dung Quất Shipbuilding Industry to  七 五 per cent after equitisation.

The oil giant is seeking Governmental approval to maintain a  四 一 per cent stake in Vietnam Energy Inspection JSC.

By the end of  二0 一 五, the group sold a VNĐ 八00 billion investment to Ocean Bank at zero đồng down under the direction of the State Bank of Việt Nam. It also decreased holdings in PetroVietnam Insurance JSC to  三 五 per cent, in PetroVietnam Transportation JSC to  三 六 per cent and in PetroVietnam General Service JSC to  二 四. 二 per cent. – VNS