Licogi 166 Joint Stock Company (LCS) was fined 85 million VND by the State Securities Commission.

On April 14, 2023, the State Securities Commission (SSC) issued Decision No. 87/QD-XPHC on administrative sanctions in the field of securities and the securities market against Licogi 166 Joint Stock Company (code LCS), headquartered at Floor 4, JSC 34 Building, Lane 164, Khuat Duy Tien Street, Nhan Chinh Ward, Thanh Xuan District, Hanoi).

Licogi 166 (LCS) was fined 85 million VND by the State Securities Commission (Photo TL)

Specifically, Licogi 166 was fined VND 85 million for not disclosing information that must be disclosed on the State Securities Commission's information disclosure system. Documents that have not been disclosed in accordance with regulations include Financial Reports in 2021 and 2022.

Regarding the business situation of Licogi 166, this unit's predecessor is Licogi 16 Joint Stock Company, established in 2007 with main business activities being construction and installation and production and trading of construction materials.

There is currently no official financial report for the company for 2022, however in 2021, Licogi 166 recorded a loss of up to 67 billion VND while revenue was only 22.1 billion VND.

The company's poor business performance has been going on for many years, often recording losses or profits of around 1 billion VND. At the end of 2021, the company's equity was even eroded from 84.8 billion VND to only 17.7 billion VND, a decrease of 79.1%.

Source: https://www.congluan.vn/ctcp-licogi-166-lcs-bi-ubcknn-xu-phat-85-trieu-dong-post244219.html