IDICO CORPORATION - JSC (TỔNG CÔNG TY IDICO - CTCP) is a publicly held joint stock company operating in Vietnam’s industrial and property development sectors. Established on June 30, 2010, and legally registered with the Ho Chi Minh City Department of Planning and Investment under Business Registration Number 0302177966, IDICO has maintained a broad portfolio that includes industrial real estate, electricity production, and the development of both residential and commercial properties. The company is listed on the HNX stock exchange under the symbol IDC.

Headquartered at No. 151A, Nguyen Dinh Chieu Street, District 3, Ho Chi Minh City, IDICO operates with more than 1,100 employees and maintains multiple offices and branches across Hanoi, Quang Nam, and Ho Chi Minh City. Its legal capital, as of March 31, 2024, stands at USD 135.57 million, fully paid up. Chairwoman Nguyen Thi Nhu Mai leads the company, with Dang Chinh Trung serving as General Director and Nguyen Hong Hai as Deputy General Director.

Financially, IDICO CORPORATION - JSC reported total assets of USD 728.01 million in 2023, marking a 4.16% increase from the previous year. Owner’s equity rose modestly by 1.26% to USD 254.92 million. The company’s total revenue decreased slightly to USD 297.32 million, a 3.32% drop from 2022, while net profit fell more sharply by 19.4% to USD 68.04 million. These figures suggest a period of stabilization following a strong growth year in 2022, where profits had surged 255% year-over-year. Working capital in 2023 was USD 83.46 million, indicating sufficient liquidity despite the earnings decline.

IDICO’s business activities include the development of industrial parks, provision of infrastructure services, real estate transactions involving land use rights, warehousing, energy projects, and construction of civil and electrical works. The company also engages in fuel wholesale, technical consultancy, and manufacturing services. While diverse, this broad activity scope also introduces complexity and operational risks, especially amid tightening regulatory oversight and changing market demand in Vietnam’s industrial and energy sectors.

The shareholder structure as of Q1/2024 reveals that 65.57% of shares are held by unspecified parties, while two notable domestic entities—SSG Group Joint Stock Company and Bach Viet Manufacturing and Trading Co., Ltd.—hold 22.5% and 11.93% respectively. The absence of foreign shareholders in the top structure may reflect strategic focus on domestic capital markets or limited international appeal in current form.

In light of declining profit and slowing revenue, IDICO CORPORATION - JSC faces the typical pressures of large-scale infrastructure firms—balancing capital investment with returns, managing diverse subsidiaries, and sustaining transparency in governance. For financial institutions, contractors, and foreign investors evaluating IDICO as a partner or target, detailed due diligence becomes essential. Business verification and credit risk assessments offered by entities like VANGUARD BUSINESS INFORMATION LLC (VBI) help clarify the operational integrity and financial posture of such complex organizations.

VBI’s risk management services provide a structured view of companies like IDICO—cutting through consolidated financials to uncover trends, flag governance inconsistencies, and track capital movements. In a sector where long-term infrastructure contracts often mask near-term liabilities or project delays, accurate and independent business intelligence remains vital. For IDICO CORPORATION - JSC (TỔNG CÔNG TY IDICO - CTCP), transparency will be as crucial as capital in sustaining credibility in Vietnam’s infrastructure and real estate economy.