The blind spot in the transfer of car manufacturers / will the government give up its shares? – Tejarat News
According to Tejarat News, the transfer of government shares in automobile manufacturers has become a long story, and the news of the transfer of the block of automobile manufacturers is published every day; But these commotions are not about the handing over of automobile factories.
The government is the most important shareholder of automobile manufacturers, which by handing over and selling its shares to the private sector, can help the circulation of liquidity in the economy and reduce the losses of automobile manufacturers. Currently, the transfer of government shares has become an unsolvable blind knot.
Experts believe that if the block of automobile manufacturers is handed over, we will see major changes in the automotive group in the capital market and reduce their losses. Of course, this reduction of losses is conditional on the non-interference of the government. Because it seems that governments are trying to interfere in the management affairs of automobile manufacturers after the handover, and this means handover without results!
The need to transfer management in the transfer of car manufacturers
Capital market expert Fardin Aghabozurgi said regarding the government’s offer of shares of two automobile companies: “Giving over the government’s shares in automobile companies is a correct policy.” Of course, on the condition that the management and ownership of these automobile factories are handed over at the same time. These companies have accumulated losses amounting to 115 thousand billion tomans due to mandatory pricing, and handing over the management and ownership of these automobile factories and their reliance on the private sector can be the way forward for these automobile factories.”
He continued: “Of course, this handover will be successful on the condition that ownership and management are handed over at the same time.”
This capital market expert explained: “The Deputy Ministry of Security set conditions that real estate and other assets cannot be transferred or sold for up to 10 years. The production mix has been limited and 70% will be assigned based on existing platforms and 30% will be based on other items by the automakers or the new management in some way.
Importance of valuation of automotive companies
Agha Bozurgi stated: “The valuation of these companies is very important. “In the first place, a very small block of these car manufacturers is going to be handed over, and due to the size of the block, we will not have any change in management.”
Referring to Tudli companies, he said: “How to transfer Tudli and mother companies is also important. “Apparently, they are going to remove a series of subsidiary companies like Pars Khodro, etc. first, and then transfer procedures will be done.”
This capital market expert clarified: “With the conditions that have been set, I think a reasonable time frame has not been considered for the combination of production or non-updating non-productive assets.”
According to this expert, the government is sensitive to the management mechanism of this company.
Assignment for the purpose of financing the end of the year
Agha Bozurgi continued: “All production plans and development plans must be approved by the Ministry of Security. I believe that this handover is only in the form of financing in order to provide liquidity at the end of this year and also to cover part of the budget deficit, and unfortunately, we did not have suitable and acceptable experiences in this field. For example, the transfer of the Persian Gulf Holding, a part of which was transferred to one of the companies under the government.
In the end, this capital market expert emphasized: “With this mechanism, the state’s interference in industrial production will continue to exist.”
With this situation, it seems that we will not see the transfer of government shares in automobile factories anytime soon. Of course, if this handover is done, the conditions will not change much, because in the laws of this handover, the intervention of the government and the relevant bodies is allowed.
This means that after handing over the block of these two car manufacturers to the private sector, we will continue to see the interference of the public sector.