Sunbay Ninh Thuan of tycoon Nguyen Duc Chi continues to report losses, liabilities “bulging” to nearly 3,300 billion VND

Updated information from the Hanoi Stock Exchange (HNX), Sunbay Ninh Thuan Joint Stock Company (Sunbay Ninh Thuan) has just announced periodic information about the financial situation in 2023 to HNX and investors.

According to the report, last year Sunbay Ninh Thuan continued to record poor business results, reporting a loss after tax of 3.6 billion VND, more than doubling compared to 2022. This is also the third consecutive year that the company’s Tycoon Nguyen Duc Chi reported a loss after tax. Specifically, in 2022 the loss after tax is 1.7 billion VND, in 2021 the loss after tax is 4.3 billion VND.

Regarding the financial health of the business, as of the end of 2023, Sunbay Ninh Thuan’s equity is 759.6 billion VND, a slight decrease compared to the beginning of the year (763 billion VND).

The debt/equity ratio increased from 4.02 times (equivalent to VND 3,068 billion) at the beginning of the year, to 4.33 times (equivalent to VND 3,289 billion) at the end of 2023. In particular, the balance Sunbay Ninh Thuan’s bond debt is VND 1,700 billion.

Poor business results, causing the profit after tax/equity ratio (ROE) of Sunbay Ninh Thuan in 2023 to be -0.48%, this figure in 2022 is 0.22%.

Updated data from HNX, currently Sunbay Ninh Thuan is circulating 5 bond lots including: bond lot SBPCB2124001, bond lot SBPCB2124002, bond lot SBPCB2225001, bond lot SBPCB2227002 and bond lot SBPCB2228003, with a total value of 1,700 billions dong.

Specifically, on December 23, 2021, Sunbay Ninh Thuan issued 2 lots of bonds SBPCB2124001 and SBPCB2124002 with a total value of 800 billion VND, these bonds have a term of 3 years, maturity date is December 23, 2021. 2024.

Next, on May 17, 2022, this enterprise issued three bonds with a total value of 900 billion VND. Of which, bond lot SBPCB2225001 is worth 200 billion VND, has a term of 3 years, and matures on May 17, 2025; Bond lot SBPCB2227002 is worth 300 billion VND, has a term of 5 years, matures on May 17, 2027; Bond lot SBPCB2228003 is worth 400 billion VND, has a term of 6 years, and matures on May 17, 2028.

It is known that the purpose of issuing a batch of bonds is to finance the costs of investing and developing the Sunbay Park Hotel & Resort project in My Binh ward, Phan Rang – Thap Cham city, Ninh Thuan and other activities of the company. SunBay Ninh Thuan.

The collateral assets for the bond lot are land use rights and assets attached to land, property exploitation rights, shares of Sunbay Ninh Thuan and deposit balance at the Sunbay Park Hotel & Resort project account. The issuance consulting unit is VNDirect Securities Joint Stock Company (HoSE: VND). The collateral management unit is Military Commercial Joint Stock Bank (MBBank, HoSE: MBB) and VND.

Also according to data from HNX, despite recording consecutive business losses for the past 3 consecutive years, Sunbay Ninh Thuan always pays interest on time for the above outstanding bond lots.

In 2023, this business of tycoon Nguyen Duc Chi has paid nearly 190 billion VND in interest on time for the total outstanding bond debt of 1,700 billion VND mentioned above that this business is circulating.

It is known that the SunBay Park Hotel & Resort complex project invested by Sunbay Ninh Thuan has a total investment of 4,779 billion VND, located in My Binh ward, Phan Rang – Thap Cham city, Ninh Thuan.

Notably, in April 2021, 7 months before issuing the first batch of bonds, Sunbay Ninh Thuan increased its charter capital from VND 300 billion to VND 770 billion.

By the end of April 2024, Sunbay Ninh Thuan’s charter capital has not changed compared to the most recent charter capital adjustment mentioned above (770 billion VND).

The current legal representative is General Director and Nguyen Duc Chi.

In addition, Mr. Nguyen Duc Chi is also the legal representative of businesses such as Cam Ranh Riviera Resort Joint Stock Company, Marina City Joint Stock Company, Crystal Bay Tourism Group Joint Stock Company, Crystal Bay Joint Stock Company, Crystal Bay Ninh Thuan Joint Stock Company, Crystal Bay Tours Company Limited, ….

Crystal Bay of tycoon Nguyen Duc Chi reports profit again, debt is more than 4,500 billion VND

Accordingly, in 2023, Crystal Bay Joint Stock Company of tycoon Nguyen Duc Chi reported a return to profit, recording a profit after tax of 101 billion VND, a difference of nearly 200 billion VND compared to fiscal year 2022 (loss of 94 billion VND). ,1 billion).

As of December 31, 2023, the enterprise’s equity is 1,861 billion VND, an increase of nearly 5% compared to the beginning of the year (1,773 billion VND).

The debt/equity ratio decreased from 2.74 times (equivalent to VND 4,858 billion) at the beginning of the year, to 2.46 times (equivalent to VND 4,578 billion) at the end of 2023.

Of which, the outstanding bond debt of the enterprise is about VND 2,100 billion.

According to Manh Dai