VRG to divest trillions of dong from non-core sectors

09-Apr-2012 Intellasia | Tuoi Tre | 7:05 PM Print This Post

Vietnam Rubber Industry Group (VRG) has recently completed its restructuring plan whereby the group will focus on three main sectors namely growing and tapping rubber, rubber industry and wood processing, according to Tran Ngoc Thuan, VRG’s chair cum general director.

Accordingly, VRG will offload 100 percent capital in companies that VRG do not hold the dominant stake, including 40 companies. Of which, the group will divest capital in 2012 and 2013 in companies in sectors of finance, securities and banking. The total capital divestment value till 2015 will be 1.407 trillion dong.

From 2016 till 2020, the group will continue to offload capital with a total amount of over 1.7 trillion dong whereby the group’s non-core investments would account for only 2 percent of the group’s equity.

Thuan said that, till the end of 2011, VRG managed over 330,000 hectares of rubber area with a rubber latex tapping output of nearly 270,000 tonnes.

 


Category: Business

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