HCMC – Saigon Jewelry Holdings Company, usually known as SJC, on Thursday officially changed its operation model from a holding company to a one member limited company named Saigon Jewelry Company Limited.
By Thuy Trieu - The Saigon Times Daily
Gold processing at SJC - Photo: Le Toan HCMC – Saigon Jewelry Holdings Company, usually known as SJC, on Thursday officially changed its operation model from a holding company to a one member limited company named Saigon Jewelry Company Limited.
The company’s owner is the HCMC People’s Committee and its capital is VND685.2 billion. The company said in its statement that despite the change of its name, its organizational system structure remains intact.
In 2009, SJC obtained VND61 trillion in revenues and VND329.1 billion in pre-tax profits. In the first eight months this year, the company obtained VND54 trillion in revenues and VND348 billion in pre-tax profits, increasing 97% and 19% respectively from the same period last year.
The company expects to achieve annual growth of 120% in revenue three years after changing operation model. At this time, SJC holds a market share of 90% of local gold bar market.