It is not true that all the eight subsidiaries of SBIC suffered losses or went bankrupt as previously thought by many. For instance, Song Cam Shipbuilding Joint Stock Company has enjoyed profits for several straight years. Advertisements
SBIC is still bogged down in difficulties that it has experienced over the last six years, since the day Vinashin (the Vietnam Shipbuilding Industry Group), the forerunner of SBIC, collapsed. It is still unclear about the fate of its 73 … Continue reading
The first steel fishing vessels built under a Government pilot project have helped fishermen enjoy bumper catches by staying longer in Vietnam’s offshore fishing grounds. The Shipbuilding Industry Corporation (SBIC) was tasked with building steel vessels to replace tens of … Continue reading
Commercial banks have been allowed to keep Vinashin’s bad debts in “pending” status and do not have to declare the debt as bad debt on their financial reports. They can also make provisions against risks in accordance with their financial … Continue reading
HA NOI (Biz Hub) — The Shipbuilding Industry Corporation (SBIC) will release its initial public offering (IPO) by 2015, said Chairman Nguyen Ngoc Su. The corporation expects to equitise four member units, including the Vinashin Corrugated Iron Company, and the … Continue reading
The Shipbuilding Industry Corporation (SBIC) is asking the Government for a special mechanism to deal with debts and negative equities of its subsidiaries before equitisation in the next 20 months.
Samsung Group was reportedly called to join the restructuring of Vietnamese local shipbuilding from the Vietnamese government. According to Vietnamese local press VNS, the Vietnamese government called on related departments to accelerate cooperation with Samsung Group for restructuring of domestic … Continue reading