30.08.2020, 10:22

Revealing the profits of the trillion-dollar real estate ’empire’ in Quang Binh

Truong Thinh Group, the investor of Bao Ninh Truong Thinh golf course, reported a profit of just over 1 billion dong in the first 6 months, although it has an equity of more than 2600 billion dong.

Revealing the profits of the trillion-dollar real estate ’empire’ in Quang Binh

Truong Thinh Group, the investor of Bao Ninh Truong Thinh golf course, has just reported profit in the first 6 months of the year. (Artwork: dulichvietnam.com.vn)

According to information from the Hanoi Stock Exchange (HNX), Truong Thinh Group Joint Stock Company said that the company does not prepare semi-annual financial statements for 2020 and only publish some basic financial indicators after issuance. VND 435 billion of bonds at the end of December 2019.

Truong Thinh said, the company has a profit of more than 1.2 billion in the first 6 months of this year, up nearly 9% over the same period last year.

As of June 302020 the enterprise’s equity source was recorded at VND 2620 billion. With the debt-to-equity ratio of 1.1 the corresponding liability of the company as of the end of June 2020 is over 2882 billion dong.

For debts during the period, including the principal and interest payments on bonds, the company pays in full. At the same time, the company has paid more than 285 billion to the State budget.

(Source: HNX)

In late July, Truong Thinh was approved by the People’s Committee of Quang Ninh province to be the investor of the 36-hole Bao Ninh Truong Thinh golf course project in Bao Ninh commune, Dong Hoi city, Quang Binh province. The project has a total area of nearly 166 hectares and a total investment of 800 billion VND.

In Quang Binh, Truong Thinh holds many large projects such as: Thien Duong Cave Ecotourism Area, My Canh Tourist Area (Sun Spa Resort), Resort in Quang Dong Commune, Suoi Bang Tourist Area, Area Bao Ninh new urban area, 6-star Dolce Lynn Times hotel in Quang Binh.

Before joining the real estate sector, Truong Thinh was considered to be the BOT owner involved in a series of projects in Quang Binh and Quang Tri provinces: the Southern section of Xuan Son bridge – North of Da Mai bridge under the Ho road project. Ho Chi Minh; Package R1-NH9 one of the major bidding packages of the East-West Traffic Corridor development project; Newly building 10 km of National Highway 6 Hoa Binh – Son La section; Highway 12C linking Vung Ang port with Vietnam – Laos border, upgrading highway 12A; Building the national fortune 4G – Son La.

Currently, Truong Thinh holds the right to collect toll fees in a series of BOT projects: BOT Dong Hoi bypass; BOT to expand Highway 1 section Dong Ha City – Quang Tri town; BOT Highway 1 Quang Ninh – Le Thuy section; BOT upgrading and expanding Highway 1 section Gio Linh – Dong Ha city; Quan Hau toll station, Trieu Phong – Quang Tri toll booth.

(Source: Truong Thinh)

(Nguồn: Trường Thịnh)

Source: vietnambiz.vn – Translated by fintel.vn