Last year, BIM Land's after-tax profit fell by more than half, to about VND798 billion.
This information was announced by BIM Land in a recent report sent to the Hanoi Stock Exchange (HNX). This is also the lowest profit level in the past 5 years of this real estate giant. In the period 2019-2022, BIM Land's profit fluctuated from 945 billion to more than 2,000 billion VND.
By the end of last year, the company's equity reached more than VND4,740 billion. BIM Land's liabilities increased by nearly VND2,950 billion, to more than VND21,880 billion. Of which, the company's outstanding bonds were about VND5,285 billion, a slight decrease compared to the previous year.
In September 2023, BIM Land successfully issued a bond lot worth more than VND2,300 billion with an interest rate of 10.4% per year. This bond lot will mature in July 2023. Nearly a month earlier, the company bought back about USD99 million of the bond lot worth USD200 million ahead of schedule. This bond lot will mature in mid-2026.
BIM Land is a member of BIM Group, headquartered in Hung Thang Ward, Ha Long City, Quang Ninh Province. The company said it owns a land fund of 5.6 million square meters in Quang Ninh, Phu Quoc, Hanoi, Ninh Thuan and Laos.
This investor has developed 12 luxury hotels and resorts, 6,400 apartments, 2,500 villas, townhouses and 3 shopping malls and office buildings. At the same time, BIM Land also cooperates with many international giants such as Park Hyatt, Regent, InterContinental, Citadines, Fraser Suites...
Last year, BIM Land also signed a management contract with IHG Hotels & Resorts to develop the first valley resort model of the InterContinental brand in Vietnam. This project is located in the center of Thanh Xuan Valley tourist urban area (scale of 170 hectares) at Dai Lai Lake, Ngoc Thanh Commune, Vinh Phuc Province.
Anh Tu
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