The Board of Directors of Dat Phuong Group Corporation (HoSE: DPG) has just approved lending Dat Phuong Son Tra Hydropower Corporation a maximum amount of VND 500 billion for a period of 1 month to serve production and business activities.
In addition, Dat Phuong also approved the implementation of loan and guarantee transactions between the company and Saigon Hanoi Commercial Joint Stock Bank (SHB) - Thang Long Branch with a credit limit for short-term loans and guarantee issuance of 100 billion VND.
Currently, Dat Phuong Son Tra Hydropower Plant has a charter capital of VND 562 billion. As of September 30, 2023, Dat Phuong holds 68.3% of the enterprise's charter capital, equivalent to an original investment value of nearly VND 384 billion.
In the first 9 months of the year, Dat Phuong Group earned more than 38 billion VND from this subsidiary. Also at the end of the third quarter, Dat Phuong no longer recorded any receivables from Dat Phuong Son Tra Hydropower Plant, while at the beginning of the year it recorded nearly 65 billion VND.
Son Tra 1C Hydropower Project.
Dat Phuong Son Tra Hydropower Joint Stock Company was established in 2010, headquartered in Son Tay district, Quang Ngai province, operating in the field of electricity production and trading.
Dat Phuong Son Tra Hydropower is the investor of Son Tra 1 Hydropower Project - the second largest hydropower project in Quang Ngai province, built in Son Lap commune, Son Tay district and Son Ky commune, Son Ha district.
The project has an investment capital of 2,145 billion VND with the scale of 2 plants: Son Tra 1A Hydropower Plant and Son Tra 1B Hydropower Plant. Each plant has a designed capacity of 30 MW, with an average annual electricity output of 219.8 million kWh.
In addition, Dat Phuong Son Tra Hydropower is also the investor of Son Tra 1C Hydropower Project. This project is located in Son Ha and Son Tay districts, Quang Ngai province with a scale of 9 MW, the average annual electricity output is about 32.46 million kWh of electricity. The project started in July 2019 with a total investment of 349 billion VND.
Regarding business situation, in the first 9 months of 2023, Dat Phuong recorded net revenue of VND 2,026.6 billion and profit after tax of VND 167.9 billion, down 9% and 55.4% respectively over the same period.
Compared to the target of bringing in 3,436.12 billion VND in revenue and 287.6 billion VND in profit after tax, the group has completed 58% of the plan after 9 months .
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