Agri major Loc Troi posts record 2023 revenue of $651 mln
Major Vietnamese rice business Loc Troi Group JSC (LTG) reported record revenues of over VND16 trillion ($651 million) in 2023, a year-on-year increase of 37%.
However, its after-tax profits dropped 36% to VND265 billion ($10.78 million), failing to meet the target of VND400 billion approved by shareholders, according to the group’s financial statement.
In the fourth quarter of 2023, Loc Troi recorded a spurt in revenue at VND5.82 trillion ($236.83 million), up 90% year-on-year, with corresponding gross profit margin improving from 23.9% to 26.2%.
A Loc Troi employee inspects rice plants alongside ethnic minority farmers. Photo courtesy of the company.
Despite rising financial and sales costs, the rice firm enjoyed after-tax profits of VND247 billion ($10 million) in the quarter, a year-on-year increase of 18%.
Starting out as a plant protection drugs producer, Loc Troi expanded to seeds and food segments. In 2023, its rice segment fetched VND11.23 trillion ($457 million), up 75% year-on-year and contributing 68% of total revenue. However, the profit margin of this segment was low at 2-3%.
Loc Troi was able to partake of the great success in Vietnam's rice exports. According to Vietnam Customs, the country shipped over 8 million tons of rice last year, higher than the average of about 6-7 million tons in recent years. The country’s rice export turnover reached $4.6 billion in 2023, up 35% over the previous year.
Export rice prices also climbed to over $630 per ton at the end of the year. Experts have predicted that rice prices will remain high in 2024 as India, a major world supplier, may continue export restrictions after the elections and the effects of the El Nino phenomenon are likely to last until the middle of this year.
Along with the sharp increase in revenue, Loc Troi's customer receivables in 2023 surged 2.8 times to VND6.48 trillion ($263.68 million). Provision for short-term bad debts was VND564 billion ($22.95 million), more than double the 2022 figure.
The group’s short-term debt saw a sharp spike from VND3.75 trillion to VND6.23 trillion ($253.5 million).
Loc Troi Group JSC is registered on the Unlisted Public Company Market (UPCoM) as LTG, which closed last Friday’s session at VND26,400 ($1.07) per share.
- Read More
Indonesia resumes int’l carbon trading after 4-year hiatus
Indonesian President Prabowo Subianto has issued a new decree to restart international carbon emissions trading after a four-year hiatus.
Southeast Asia - Thu, October 16, 2025 | 9:23 pm GMT+7
Investors seek 2-year delay for $2.56 bln LNG power project in northern Vietnam, citing equipment hurdles
Investors of a $2.56 billion LNG-fired power plant in Hung Yen province have proposed delaying the project’s commercial operation schedule by two years due to difficulties securing key equipment.
Energy - Thu, October 16, 2025 | 9:04 pm GMT+7
Vietnam to soon raise taxpayers' personal deduction: official
The personal income tax deduction in Vietnam is "very likely" to increase to VND21.7 million ($823,940) per month, including VND15.5 million (588,530) for the taxpayer and VND6.2 million ($235,410) for each dependent.
Finance - Thu, October 16, 2025 | 6:25 pm GMT+7
Business confidence climbs as reforms gain traction amid global headwinds: EuroCham Vietnam
The index climbed to 66.5, surpassing pre-tariffs level and reaching its highest in three years – showcasing resilience and adaptability amid global headwinds and evolving U.S. tariff pressures.
Economy - Thu, October 16, 2025 | 4:36 pm GMT+7
Vietnam's stock market watchdog suspends two Grant Thornton auditors
Vietnam's State Securities Commission (SSC) has suspended two auditors from Grant Thornton Vietnam after determining that the 2024 audited financial statements of Saigon Water Infrastructure Corporation (HoSE: SII) failed to meet required standards.
Finance - Thu, October 16, 2025 | 3:35 pm GMT+7
Law No. 56 a major policy breakthrough for Vietnam's stock market development
The Law No. 56, effective January 1, 2025, is one of the major legal breakthroughs in recent years that will enhance the transparency and operational efficiency of the Vietnamese stock market.
Finance - Thu, October 16, 2025 | 2:30 pm GMT+7
WHA Group breaks ground on smart technology industrial zone in central Vietnam
Thailand's WHA Group on Tuesday broke ground on a world-class, modern, and environmentally friendly industrial zone in central Vietnam, namely the WHA Smart Technology Industrial Zone-Thanh Hoa.
Real Estate - Thu, October 16, 2025 | 2:00 pm GMT+7
Vietnam a key partner in Murphy Oil’s global strategy: exec
Vietnam remains a key partner in Murphy Oil’s global business strategy, said Eric Hambly, the U.S. corporation's president and CEO.
Companies - Thu, October 16, 2025 | 12:06 pm GMT+7
VNPT, Qualcomm debut Vietnam’s 1st original design-based excellence center
State-owned Vietnam Posts and Telecommunications Group (VNPT) and Qualcomm have officially launched the VNPT-Qualcomm Excellence Center (VQEC), the first facility in the country to operate under an original design co-development model using Qualcomm’s core technologies.
Companies - Thu, October 16, 2025 | 8:41 am GMT+7
Indonesia enjoys steady growth in nine months
Indonesia's Ministry of Finance on Tuesday announced the country’s 2025 budget performance as of September, reporting that Southeast Asia’s largest economy continued to post steady growth despite global economic uncertainties.
Southeast Asia - Wed, October 15, 2025 | 9:53 pm GMT+7
Malaysia on progressive path towards AI nation status: experts
Malaysia is on a progressive track towards becoming an Artificial Intelligence (AI) nation by 2030, a goal seen as achievable under Budget 2026 - the Malaysian Government’s fiscal and policy framework for 2026.
Southeast Asia - Wed, October 15, 2025 | 9:44 pm GMT+7
Thailand steps up development of semiconductor industry
Thailand’s Board of Investment (BOI) plans to propose a new national semiconductor and advanced electronics policy board to the government, which will spearhead Thailand’s semiconductor development strategy.
Southeast Asia - Wed, October 15, 2025 | 9:40 pm GMT+7
ASEAN sets ambitious energy targets
Senior energy officials from ASEAN member nations and Timor-Leste on Tuesday convened in Kuala Lumpur, Malaysia, to finalize key outcomes and policy recommendations to be submitted to the 43rd ASEAN Ministers on Energy Meeting (AMEM).
Southeast Asia - Wed, October 15, 2025 | 9:33 pm GMT+7
Sun Group gets nod for $375 mln inland waterway tourism project in central Vietnam
A subsidiary of Sun Group, one of Vietnam’s leading real estate developers, has received approval to invest VND9.88 trillion ($375 million) in an inland waterway tourism project in the central coastal city of Danang.
Industries - Wed, October 15, 2025 | 5:21 pm GMT+7
Vietnamese luxury car dealer Haxaco’s business slumps, stock nears two-year low
The operations of Hang Xanh Automobile Service JSC or Haxaco (HoSE: HAX), known as the largest distributor of Mercedes-Benz vehicles in Vietnam, are under pressure as consumers tighten spending and competition among car brands intensifies.
Companies - Wed, October 15, 2025 | 5:13 pm GMT+7
Vietnam sets 2026 GDP growth target at 10%
The Vietnamese Government has set the targets for economic expansion in 2026 at about 10% and inflation at 4.5%.
Economy - Wed, October 15, 2025 | 4:28 pm GMT+7




















