Company of beer tycoon Duong reports loss, temporarily postpones bond debt

Duong Man is a non-public enterprise, operating in the field of beer ingredient production - Photo: TT

According to new information from the Hanoi Stock Exchange (HNX), Duong Man Joint Stock Company has just reported a loss of more than VND20.2 billion in the first 6 months of this year, down from the loss of VND50.7 billion in the same period last year.

Due to poor business performance, Duong Man's equity decreased from VND 73.89 billion in the previous period to VND 53.6 billion at the end of June 2024.

The debt-to-equity ratio is 21.08 times, or more than VND 1,130 billion. Of which, outstanding bonds account for VND 200 billion.

Regarding bonds, Duong Man Company recently sent HNX a report on the delay in paying principal and interest on bonds in the first 6 months of 2024.

	LNST
2020	-91.98
2021	-51.5
2022	-33.59
2023	-50.77
First 6 months of 2024	-20.2

Source: Company financial information report

According to the report, the DMBOND2017 bond batch is due for payment on February 28 and May 31, 2024, with a total amount of more than VND 12 billion.

However, the company said it has not been able to arrange enough payment sources as planned. Therefore, the company has requested to postpone the payment deadline for these two interest periods until June 30, 2025.

Duong Man is a non-public enterprise, part of the Hoa Binh Group ecosystem founded by Mr. Nguyen Huu Duong (often called "beer" tycoon Duong).

Currently, the legal representative of the enterprise is Tran Minh Thong - Chairman of the Board of Directors.

On the Hoa Binh Group website, Duong Man is introduced as a member company of Hoa Binh Group, and is also the first and only company in Vietnam and Southeast Asia to produce malt - the main ingredient for beer production.

In 2002, Hoa Binh invested in building a malt factory in Tien Son Industrial Park - Bac Ninh. The investment capital was about 300 billion VND.

By 2004, the project came into operation with a capacity of 45,000 tons/year.

Regarding the tycoon Duong "beer", this tycoon once attracted attention when he announced the sale of the gold-plated hotel Dolce By Wyndham Ha Noi Golden Lake in Giang Vo, Hanoi with a starting price of 250 million USD.

Shortly after, the tycoon announced that he would stop selling this hotel.

Source: https://tuoitre.vn/cong-ty-cua-dai-gia-duong-bia-bao-lo-tam-khat-mon-no-trai-phieu-20240822153501053.htm