Lotte Vietnam Shopping rejects report on losses
Tuesday, May 22,2018
AsemconnectVietnam - The Lotte Vietnam Shopping Joint Stock Company has written to the Ministry of Information and Communications, the Ministry of Industry and Trade, the Ministry of Finance and media outlets rejecting news that it has racked up losses of VND2,300 billion, or over US$100 million, in 11 years, Nguoi Lao Dong Online reports.
The company, which operates the Lotte Mart store chain in Vietnam, said its financial reports had been audited until the end of last year by PwC Vietnam. Auditing reports show the firm made accumulated losses of nearly VND800 billion (US$35 million) and its equity is now VND1,600 billion based on the Vietnam Accounting Standards.
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