Tuesday , August 9 2022

Sabeco committed serious crime – Finance


Sunday, 11/11/2018 at 17:30 (GMT + 7)

In management violations, the use of capital, state ownership of Sabeco, causes diamond price 2-4-6 Hai Ba Trung to be valued with "price" and cause major damage to the budget.

Implementation of the decision of the State Auditor in charge of the State Auditor on 29 September 2017, 1443 / QD-KTNN, the management and use of capital and the activities related to the use of property. Saigon Beer – Alcohol Beverage Agency (Sabeco) In 2016, IV. The Regional Audit audit was conducted from 4-10-2017 to 1-12-2017. The results of the audit have shown a number of management violations and the use of Sabeco's state capital.

Sabeco has committed a serious crime - 1


Disposal of errors

According to the Vietnam State Bank, Sabeco Pearl Investment Corporation (Sabeco Pearl) has sold some of its shares in the form of sales shares from June to 2016, indicating a slight error in pricing. In particular, Sabeco's starting price was 13,249 dong / shares, with the winning price being 13,347 dong / share. However, the valuation of Sabeco Pearl's business is still wrong. For example, in the comparison method, the correction of non-market-based differences is not in accordance with the Vietnam Valuation Standard. In other words, the discount rate used to calculate the future cash flow of the current value is 13.69%, whereas in 2016 it is the rate of extract in Ho Chi Minh City. Valuation of real estate projects is 11%. As a result, the value of the work has been substantially reduced to a fundamental extent in determining the initial price.

Sabeco Pearl has a capital of approximately 566.7 billion dollars, with 26% of Sabeco's capital, along with three founding shareholders, Ha An Yatırım Ticaret ve Hizmet A.Ş. (25.5%), Attlin Joint Stock Company (25.5%), Attland JSC (23%) … 6.000 sqm. Ba Trung, Ben Nghe Ward, District 1, HCMC. This land is the place where Saigon Me Linh Tower project will be realized with 3 basements, 9 floors, 48 ​​towers and 2 towers.

In 2016, Sabeco liquidated all its stake in Sabeco Pearl for Atteia Joint Stock Company at a price of 13,347 dong per 195 shares per share of 1 / HĐ-SABECO / 2016 shares. billion dong. This price is considered to be "sagging" compared to the actual value of "diamond" above.

Investment losses in 10 companies

Remarkably, Sabeco's capital contribution to the State Audit Bureau has set provisions for financial investment losses for 10 long-term investments, with less than 20% of the capital equal to 774 & # 39; 444.7 billion. he said. 8% of the investment value.

Sabeco's basic investments include the following: Sabeco's investment in the Orient Commercial Joint Stock Company, of which it holds a stake of over 154 billion dong; Dong more than 126 billion Commercial Anonymous Banks; PVI Saigon Company 39.3 billion; Sai Gon Securities Investment Fund A2 33.7 billion; Dai Viet Securities Joint Stock Company is about 16 billion dong … This number is the purchase of Vinashin bonds, which allows the company to allocate more than 20.8 billion reserves, which is equal to 100% of the company's initial value. investment; Shareholders who invest more in the Dong A Commercial Joint Venture than the VND1313 billion are not allowed to transfer their shares due to this special control. Most of these investments are outside of Sabeco's core business.

As a result, Vietnam State Control asked the Ministry of Industry and Trade (MOIT) to clarify the reasons for Sabeco's reasons, request for collective responsibilities and capital investment, and to issue bonds in the above 10 companies.

In addition, in connection with Sabeco's repayment in 2016, Sabeco has spent more than $ 12 billion on President, General Manager, Chief Executive Officer, Chief Accountant and Chief Accountant. Manager's average salary of 20.3 months. At the same time, the maximum amount for which enterprises are awarded under Law No 71 in 2013 is only a salary of 1.5 months. This also requires State Audit to require the Ministry of Industry and Trade to disclose disclosure and related responsibilities.

Not yet 2,400 billion VND budget

The audit results show that Sabeco's profit after distribution is more than 2.8 trillion VND as of December 31, 2016. Sabeco in 2016 provided a profit of VND76 billion in about 1/2017. Thus, profits from 2016 and prior periods are more than 2,700 billion.

According to Sabeco's state ownership rate at 31 December 2016, the State Audit suggested that Sabeco reimburse the remaining state budget to $ 2,400 billion from 2016 onwards.

The State Supervisor of the Ministry of Industry and Commerce, the Ministry of Industry and Commerce, in the Ministry of Industry and Trade in 2016 and in the previous periods of the collective and individual responsibilities for the review and review of all non-profit has been proposed. It was also suggested that the agency in Sabeco should review the responsibility to propose a plan to distribute the remaining profits of 2016.

According to Ho Duc Phuc, General Director of State for Supervision, Sabeco could not disclose retained profit and plan to use the remaining investment fund until 31-12-2016. However, Mr. Phuc predicted that the proposal was difficult to implement, between 18-12-2017 (after the end of the audit), the Ministry of Industry and Trade, 53.59% of Sabeco sold the capital it hired. Thai drink is owned by Thai billionaire Charoen Sirivadhanabhakdi.

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