Lao Holdings reports 128 percent revenue increase in 2016
Lao Holdings reports 128 percent revenue increase in 2016
The Lao Holdings State Enterprise (LHSE) reported that it recorded revenues of US$35.3 million at the end of 2016, reflecting growth of 128 percent compared to 2015.
LHSE General Manager Dr Somboune Manolom said at the Annual Report 2016 meeting that operations are set to increase further with the government's bottom line to benefit from increased royalties linked to the company's business operations.
The annual meeting was attended by Minister of Energy and Mines Dr Khammany Inthirath, government officials from relevant sectors and company board members, along with employees.
Dr Somboune said the main source of revenue last year came from dividends from the Nam Theun hydropower project, Hongsa Power Company Limited, human resourcing for projects, the sale of fly ash, and bank interest.
Dividends were reported at more than US$27.4 million and more than 241 million baht.
The company paid taxes of more than US$3.2 million to the government as well as paying the requisite fees to the Ministry of Finance.
Dr Somboune said the company was a shareholder of the Nam Ngum 1 power plant and the Xe Pian Xe Namnoy Hydroelectric Power Project, which is expected to be finished as planned in 2019.
When the Xe Pian Xe Namnoy power plant comes online it will play a role in further boosting LHSE's revenues.
LHSE pursued projects related to construction, especially facility improvement for the production of fly ash by the Hongsa Power Company Limited.
According to its report, last year LHSE receive certificates of honour from the Association Other ways Management and Consulting of France, and the Majestic Five Continents Falcon Award for Quality and Excellence for the success of the Nam Theun 2 hydropower project.
