Licogi Corporation - JSC faced severe financial and legal challenges

Licogi Corporation - JSC was grappling with significant financial and legal hurdles. The company anticipates a 38.7% decrease in pre-tax profit for 2025 and a continued accumulated loss of VND 574 billion as of March 31, 2025, representing 64% of its charter capital. Notably, an investment exceeding VND 1,363 billion (30.1% of total assets) in the Thinh Liet New Urban Area project is effectively "stuck" due to unapproved investment policy extensions, issues related to land origin, citizen complaints, and State Inspectorate conclusions. Furthermore, the company's headquarters project in Cau Giay has been terminated. The company will also cease to be a public company from 2026 and will not pay dividends in 2024 and 2025.

Licogi Corporation - JSC was grappling with significant financial and legal hurdles. The company anticipates a 38.7% decrease in pre-tax profit for 2025 and a continued accumulated loss of VND 574 billion as of March 31, 2025, representing 64% of its charter capital. Notably, an investment exceeding VND 1,363 billion (30.1% of total assets) in the Thinh Liet New Urban Area project is effectively "stuck" due to unapproved investment policy extensions, issues related to land origin, citizen complaints, and State Inspectorate conclusions. Furthermore, the company's headquarters project in Cau Giay has been terminated. The company will also cease to be a public company from 2026 and will not pay dividends in 2024 and 2025.

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