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LCG: A subsidiary split into two companies
The Department of Planning and Investment of Hochiminh City allowed the 12 Construction and Trading Co., Ltd., 80% of stake owned by LICOGI 16 Joint Stock Company, to split into two companies: 12 Construction and Trading Co., Ltd., and Dong Thanh 12 Construction and Trading Co., Ltd..
The 12 Construction and Trading Co., Ltd., a subsidiary of LICOGI 16, will manage and invest in a 12.5-hectare residential project in Hiep Thanh Ward, District 12, Hochiminh City.
The Dong Thanh 12 Construction and Trading Co., Ltd., owned by Mr. Tran Duy Doanh, will manage and invest in the industrial and residential group (18 hectares) in Dong Thanh Commune, Hoc Mon District, Hochiminh City. Dong Thanh 12 will receive rights of this project and have responsibilities for paying Agribank – Cho Lon Branch a debt worth 5,851.865 taels of gold which were borrowed to finance this project.
LICOGI 16 Joint Stock Company is not related to Dong Thanh 12 Construction and Trading Co., Ltd. and the gold debt above.
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