SCIC receives the transfer of state ownership rights at Licogi Corporation from the Ministry of Construction

The Ministry of Construction (MOC) and State Capital Investment Corporation (SCIC) held a ceremony to transfer the state ownership rights at Licogi Corporation (Licogi) from MOC to SCIC on December 26, 2018.

According to the signed Memorandum, the value of state capital at Licogi transferred to SCIC is approximately 366 million VND, accounting for 40.72% Licogi’s charter capital. Licogi completed the equitization process and has been operating as a joint stock company since January 1, 2016.

Speaking at the ceremony, Mr. Bui Pham Khanh said that relevant tasks between MOC and SCIC during the transfer were clarified in the spirit of ensuring no interruption to Licogi's business activities and complying with the current state regulations. MOC will coordinate with SCIC and request SCIC to actively support Licogi’s growth thereby increasing its state capital value.

On behalf of SCIC, Mr. Nguyen Duc Chi expressed the appreciation to MOC’s Leaders for actively directing and supporting the state capital transferring process from enterprises managed by MOC to SCIC and emphasized that SCIC will co-ordinate with other shareholders to exercise advanced corporate governance based on the principles of market economy, ensuring state capital to be maintained and developed. After the transfer to SCIC, Licogi will be fully supported by the SCIC’s advantages in corporate governance and the co-operation potential with other enterprises managed by SCIC.

The transferring of state capital at Licogi expresses the determination of MOC, SCIC and Licogi in conducting the Government’s resolution regarding the enterprises restructuring./.