CIENCO4 teams up with Japanese partner to venture into interior equipment distribution

The head office of C4JB at ICON4 Building in Hanoi’s Dong Da district

Accordingly, CIENCO4 and Japan’s G.K World Business Investment Co., Ltd. formed CIENCO4 Japan Bridge (C4JB) JSC which has been rewarded the investment certificate and business registration certificate by Hanoi Authority for Planning and Investment.

The new joint venture has its headquarters at the ICON4 Building in Hanoi’s Dong Da district, and two representative offices in Ho Chi Minh City’s District 3 and Nghe An province’s Vinh city.

Both sides contribute an equal portion of 49.67 per cent to the new joint venture's total initial investment value of JPY60 million ($535,947), with an individual offsetting the remaining 0.66 per cent.

C4JB will start operation through pooling capital and expanding construction services, distributing, repairing, and upgrading interior equipment like air conditioning, sanitary equipment for hotels, office towers, and residential blocks related to C4JB across the nation for C4JB's core customer groups.

The new joint venture will also provide consultancy services on the development of renewable energy (wind and solar) in Vietnam; commercialising and popularising the latest technologies in agriculture; assisting in education and training like sending Vietnamese trainees to Japan for skill improvement, and more.

C4JB aims to grow into a well-established business in its field in the not-so-distant future.

Based on the prospectus at CIECO4’s general shareholders' meeting held in April 2021, the company targets VND3.4 trillion ($147.83 million) in total revenue and VND200 billion ($8.7 million) in after-tax profit, a 63 per cent jump in revenue and triple 2020’s profit figure.

Simultaneously, CIENCO4 announced plans to pay 15 per cent dividend in 2020. So far, the company has completed 6 per cent dividend payment in the form of share issuances.