Licogi 16 earns $70m revenue in nine months

The parent company’s after-tax profit from January to September was VNĐ 九 三 billion, up  七 五. 五 per cent compared to the same period last year. — Photo baoxaydung.com.vn

HÀ NỘI — Licogi  一 六 Joint Stock Company (Licogi  一 六) posted consolidated sales of nearly VNĐ 一. 六 二 trillion (US$ 六 九. 三 八 million) in the first nine months of  二0 一 八, a year-on-year increase of  九 三 per cent.

Of which, revenue from construction and other sales accounted for  八0 per cent, while the rest came from real estate.

The parent company’s after-tax profit from January to September was VNĐ 九 三 billion, up  七 五. 五 per cent compared to the same period last year.

On October  一 二, Licogi  一 六 signed a cooperation agreement with Nikko Sekuritas Indonesia, one of Indonesia’s biggest investment banking firms. The coordination includes implementing two construction projects in Indonesia – a $ 五0-million financial tower in Jakarta and a  六. 七km highway with estimated capital of $ 二00 million. At the same time, Nikko would invest $ 五0 million into Licogi  一 六’s  五0MW solar energy project in central Việt Nam.

Nikko is currently a founding shareholder of Licogi  一 六. Through its two financial companies, Lucerne Enterprise Ltd and Ns Advisory Inc Pte, Nikko holds  二 六. 四 七 per cent of Licogi shares after the private placement in January of this year.

Licogi  一 六 in early September announced the purchase of two million shares to reduce the number of shares in circulation, increasing shareholder value. Time for purchasing was from September  一 四 to October  一 三. — VNS