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State capital in Seaprodex to be divested

Released at: 10:21, 27/08/2015

State capital in Seaprodex to be divested

MARD will steer full divestment of State capital in seafood producer.

by Minh Tuyet

Deputy Prime Minister Vu Van Ninh has decided that all State capital in seafood producer Seaprodex is to be divested. He asked the Ministry of Agriculture and Rural Development (MARD) to direct the company in the divestment and then hand over the capital to the government. A decree will guide the pricing of the company’s assets when turning it into the joint stock company.

He also asked MARD to sell all the State capital in Seaprodex’s subsidiaries this year, with MARD to report to the government on the process.

The plan on equitizing Seaprodex was approved by the Prime Minister in October 2014. The value of the company has been estimated at VND1.48 trillion ($65.8 million), with State capital of VND1.368 trillion ($60.82 million).

Seaprodex’s main business lines are seafood, aquaculture, seafood processing for export and domestic consumption, production of animal feed, poultry, fisheries, veterinary drugs, food imports and trade, equipment, machinery parts, raw materials, fuels, passengers and cargo transport, warehousing and wharfs, shipbuilding and repair, design of inland waterway vessels, hotels and tourism, financial investment, labor supply, real estate trading, and fishing logistics services that assist national defense and security at sea and on islands. Its headquarters are in Ho Chi Minh City.

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