SCIC boss earns over 1.4 billion VND a year

Of the 12 individuals on the SCIC leadership list, 6 had an income of over 1 billion VND in 2015.

The State Capital Investment Corporation (SCIC) has just released a management report, stating the income of its leaders and employees in 2015. Accordingly, former General Director Lai Van Dao - who retired from May 1 this year - earned more than 1.4 billion VND, equivalent to an average of nearly 120 million VND per month. According to SCIC, this pre-tax income includes salary or remuneration (576 million VND) and other benefits.

Similarly, the four Deputy General Directors, Mr. Le Song Lai, Mr. Hoang Nguyen Hoc, Mr. Nguyen Quoc Huy and Ms. Nhu Thi Hong Lien, each earned nearly 1.3 billion VND, while Controller Nguyen Quoc Tri received 1.1 billion VND for the whole year.

In addition, Deputy General Director Nguyen Hong Hien and Controller Bui Duc Long had incomes of 681 million and 713 million VND respectively in 2015. Chairman of the Board of Members Nguyen Duc Chi was newly appointed in early 2016, so his income was not disclosed in this report.

SCIC said that the payment of income to leaders is in accordance with State regulations.

According to the 2015 financial report, SCIC spent 121 billion VND on labor costs, of which the cost for management levels was 71.7 billion VND and the cost for employees was 49.3 billion VND. This cost includes salary, health insurance, social insurance, unemployment insurance, union funds, meal allowances, phone bills, etc.

With a staff of about 273 people, the estimated cost for an SCIC employee is 37 million VND per month. In 2014, the average monthly income of this corporation's employees reached 30.4 million VND.

Speaking with VnExpress, SCIC affirmed that the payment of salaries and bonuses to managers and employees complied with the law and was consistent with the business results of 2015. Accordingly, the corporation had the biggest profit year in its history with revenue of more than VND10,000 billion and pre-tax profit of VND8,404 billion.

SCIC said the income of management officials mentioned in the report includes salaries, bonuses, and remuneration paid in accordance with Decree No. 51 of the Government and Circular No. 19 of the Ministry of Labor, War Invalids and Social Affairs, Decision 3369 of the Ministry of Finance, and the company's financial regulations.

"In the total income of the leaders, there are some remunerations and bonuses that were formed in 2014 but paid in 2015. Because SCIC's financial regulations were applied from 2014 onwards, the company combined the sources of 2014 and 2015 to pay last year," said the company's board of directors.

In addition, according to Circular No. 19 of the Ministry of Labor, War Invalids and Social Affairs, the settlement of bonuses for management officers is carried out according to the term. Therefore, enterprises have calculated according to the term of the Chairman of the Board of Members, so they should transfer some payments from previous years to 2015 (the last year of the term).

SCIC is a state-owned company that has been operating for over 10 years, helping to manage capital resources in enterprises. As of 2015, the company's equity reached 34,749 billion VND. Currently, SCIC still holds capital in 197 enterprises with a book value of 20,020 billion VND, accounting for 23% of charter capital and a market value of about 95,697 billion VND.

In 2016, SCIC set a revenue plan of 12,528 billion VND, pre-tax profit of 8,414 billion VND. Recently, the company said it has reported to the Ministry of Finance and the Government and is waiting for a decision on selling capital in enterprises such as Vinamilk, FPT, Binh Minh Plastics, Tien Phong Plastics, Bao Minh Insurance, FPT Telecom...

According to VNE