AsemconnectVietnam - The recently released audited financial report of the State Capital Investment and Trading Corporation (SCIC) shows that in 2023, Government investors' pre-tax profit is VND5,650 billion, twice as much as the same period last year.

Specifically, the Corporation achieved revenue of VND7,143 billion, down 30.1% compared to 2022. Of which, revenue from investments of this enterprise decreased by 92% to VND116 billion; Revenue from dividends and distributed profits decreased by 29.5% to VND5,383 billion; Revenue from deposit interest and bond investment increased by 42.6% to VND1,633 billion.
Due to the refund of VND489.2 billion in capital investment and business expenses, SCIC's gross profit was more than VND7,622 billion, an increase of nearly 20%. In 2023, SCIC will have a refund of VND816 billion of the investment discount provision, thereby the cost of capital investment and business activities will be reversed by VND489.2 billion.
Thanks to increased gross profit and reduced losses in affiliated companies from VND3,378 billion to VND1,728 billion, SCIC reported pre-tax profit of VND5,650 billion, twice as much as the same period last year.
In 2023, one of SCIC's affiliated companies, Vietnam Airlines, reported a loss of more than VND5,900 billion, causing SCIC to record a loss at Vietnam Airlines of nearly VND1,730 billion. In 2024, Vietnam Airlines' operations will flourish and the Corporation will have this provision refunded.
By the end of 2023, SCIC's total assets reached VND52,750 billion, an increase of 6% compared to the beginning of 2022. Short-term financial investments accounted for VND33,343 billion, an increase of 10.4%. In particular, the amount of term deposits of the corporation increased by more than VND4,000 billion to VND30,450 billion, investments in stocks decreased by more than VND1,000 billion to VND2,945 billion.
Long-term financial investments increased by 6.3% to VND28,023 billion. Of which, investment in subsidiaries is more than VND17,449 billion, an increase of 12% compared to last year.
N.Nga
Source: VITIC/Tinnhanhchungkhoan