(KPL) Deputy Prime Minister and Minister of Finance, Mr Somdy Douangdy has praised the Souvanny Home Center Public Company, a leading construction material supplier in Laos, for its rapid business growth.

He made the congratulatory statement while attending the official opening ceremony of the fifth branch of the Souvanny Home Center on January 30.  The newly opened branch is located on 450 Year Road in Xokyai village, Xaysettha district, Vientiane Capital.

Souvanny has enjoyed rapid growth from a family-run business decades ago to a promising public company today.

in 2015, Souvanny was listed on the Lao Securities Exchange, becoming the fifth in the country to have been listed on the stock market following Banque Pour le Commerce Exterieur Lao Public (BCEL), EDL-Generation Public Company (EDL-Gen), Lao World Public Company and the Petroleum Trading Lao Public Company.

Vice Chairman and CEO of Souvanny Home Center Public Company Mr Waddana Soukhabandith explained that fifty per cent of the total amount spent for the construction of the Xokyai branch came from funds raised through the Lao Securities Exchange.

In 2012, Souvanny recorded an income of 230.45 billion kip, and a net profit of 10.64 billion kip (almost US$1.3 million). In 2013, the income of the company was valued at 264.37 billion kip and its net profit was 14.18 billion kip.

In 2014, its income was recorded at 311.28 billion kip and its net profit was 21.33 billion kip. One year later, its income was valued at (wait) and a net profit of (wait) billion kip. While the income of the company for 2016 has yet to be unveiled.

Mr Waddana said that the Xokyai branch is open to the pubic daily from 06:00-18:00 offering as many as 80,000 brand models at the same price as the other four branches.

Souvanny currently operates five branches, all in Vientiane Capital, including one each in Phontong, Thongkhankham, Sikhai, Thongtoum and Xokyai.

Source:
courtesy of KPL NEWS AGENCY

by SingkhamYengtavanh

If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]