EVN’s non-core investments at 3tr dong

Electricity of Vietnam (EVN)’s non-core investments in sectors such as banking, real estate, and telecommunication accounted for three trillion dong, or 3 percent of EVN’s total investment capital, lower than the government’s allowable 30 percent ratio, Dinh Quang Tri, EVN’s deputy general director said.

Currently, EVN owns 40 percent stake into EVN Finance Joint Stock Co that has a chartered capital of 2.5 trillion dong.

EVN is also a strategic shareholder of An Binh Commercial Joint Stock Bank (An Binh Bank), the bank with a chartered capital of 3.83 trillion dong till December 2010.

Additionally, EVN associated with Ha Thanh Securities JSC, Saigon Vina Power Real Estate JSC, EVN Central Co and EVNLand Nha Trang.

In the telecommunication sector, EVN and Hanoi Telecom recently signed a 10-year strategic cooperation agreement whereby in the first three year, the EVN Telecom and Hanoi Telecom association will invest about six trillion dong for the launching of 3G services.

Tri also said that EVN is offloading and cutting down the holding in this sector.

Tags: EVN