EVN enthusiastically cooperates in banking and stock exchange

14/12/2007 00:00:00 - views: 1,602

Along with the capital contribution to become the strategic partner of joint stock companies in banking and stock exchange sectors, EVN and member units are enjoying handsome opportunities to boost the diversification the fields of activities and the activeness of finance, meeting the demand of power production and generation.
The first giant partner of EVN in the cooperating process is the An Binh Commercial Joint Stock Bank (ABBANK). In the end of 2005, EVN and ABBANK signed the document of strategic cooperation and shareholders. Ms. Nguyen Ngoc Mai, Vice President of ABBANK said that: “With the advantage of the large scale, abundant human resource and customers of EVN, ABBANK has been continuously expanding the market. In return, with the commitment of supplying EVN and member units with professional finance consulting services, becoming one of the centers that effectively arrange capital and issue bonds.

The cooperation is getting closer and closer when ABBANK has been promoting the signing of series of cooperating documents of credit finance services with each member unit of EVN such as Hanoi Power Company, Power Company No. 1, 2, 3 and EVNTelecom these days. To date, many financing contracts has been signed by ABBANK including VND 150 billion contract for EVNTelecom, VND 30 billion one for Hanoi Power Company, VND 120 billion one for PC1, VND 70 billion one for PC3, and VND 100 billion one for Central Hydropower Joint Stock Company. Those credit loans have helped member units of EVN be more active in terms of finance, which enables faster rate of progress for projects. Besides, electricity tariff collecting service has been implemented by ABBANK in numerous big cities all over the country like Hanoi, Ho Chi Minh City, Da Nang, Can Tho, Binh Duong and Dong Nai, and has been highly supported by power plants.

Apart from ABBANK, Ha Thanh Securities Joint Stock Company (HASC) with the strategic shareholder namely Vietnam Electricity and other main shareholders which are giant power companies throughout the country is also pushing up financing services to enterprises belonging to power sector. With the principle of satisfying all the needs relating to finance, stock exchange and real estate which pave the way for equitization and development of EVN, HASC has focused on speeding up finance consulting for power plants. Consulting contracts that have been proceeding are: Collaborating with An Binh Bank in consulting about issuing bonds for EVNTelecom; consulting about issuing more shares for Northern Electricity Development and Investment Joint Stock 1 (NEDI 1) and Northern Electricity Development and Investment Joint Stock 3 (NEDI 3); and consulting about equitization for Information Technology Center of EVN, Hydropower Project Managing Board No.3 and Hydropower Project Managing Board No.7.

According to Mr. Truong Duy Son, the Chairman of the company’s Management Board, in the next coming time, HASC will strengthen the lump-sum services for joint stock enterprises in the power sector ranging from building equitizing strategies, constructing company’s regulations, assessing enterprises, organizing bidding to offer shares in public for power sector’s units, satisfying the demand of publicizing the company through listing stocks in central planned stock market. And also, HASC will concentrate on providing relevant services in order to support joint stock companies by administration consulting, finance consulting and stock’s relevant issues consulting. As revealed, EVN, Hanoi Power Company, Power Company No.1 &3, Hai Phong Power Company, Ho Chi Minh Power Company, Khanh Hoa Power Company and Dong Nai Power Company have registered to join capital contribution in Ha Thanh Securities Joint Stock Company with the contributed capital which will estimatedly account for 40% of the chartered capital.

Conforming to the orientation of a sustainable economic corporation which moves along the direction of a multi-sector business, the process of pushing up investment in banking and stock exchange sectors is indicating the right way of EVN which is vigorously boosting developing opportunities from the available advantages, bringing about economic benefits for EVN and member units.
Power Electricity Magazine, Vol. 10 – 2007

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