Business

Cholimex shows robust performance after equitization

SGGP
It is reported that after going equitization under the instruction of the People's Committee of Ho Chi Minh City, profit of Cho Lon Investment and Import - Export Corporation (Cholimex) has jumped by more than 250 percent in 2018.

Particularly, the company was set to achieve a revenue of VND465 billion and a profit of 66.79 percent in 2018 at its shareholders' meeting. However, the company realized VND571 billion in revenue, completing 122 percent of its target. The company's pre-tax profit reached VND168 billion, up 252 percent compared to the same period last year, exceeding 187 percent of its target of VND90 billion.
Average income of its employees has also improved compared to previous years, from VND11.7 million per month in 2015 to VND16.3 million per month in 2018.
Cholimex is a state-owned company that was successfully equitized in 2016. It is a typical business in restructuring and renovating and has achieved good performance indicators after equitization.

By Che Han - Translated by Thuy Doan

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