Mobile World minus subsidiary; Hapaco invests in Green Hospital; Hung Vuong Plaza falls into KIDO's hands

Mobile World minus subsidiary; Hapaco invests in Green Hospital; Hung Vuong Plaza falls into KIDO's hands

Tran Anh Digital World JSC was dissolved; BenThanh Tourist completed the acquisition of Vinh Sang Tourist Area; ACFC bought more than 10% of shares in Nasco; Vinamilk, Vietjet, Petrolimex… were all named in the list of top enterprises.

Mobile World dissolves third company in a year

The Board of Directors of Mobile World Investment Corporation (TGDD) approved the decision to dissolve its subsidiary, Tran Anh Digital World Corporation, on August 19. Previously, in May 2024, other subsidiaries that shared the same fate were Toan Tin Logistics and 4K Farm.

TGDĐ has approved the decision to dissolve its subsidiary, Tran Anh Digital World Joint Stock Company.

TGDĐ said the dissolution is aimed at restructuring the subsidiary to optimize operations.

Tran Anh is an electronics supermarket chain that was officially acquired by TGDĐ in early 2018. At the time of the merger, Tran Anh had a revenue of approximately 4 trillion VND/year and was an important stepping stone in TGDĐ's journey to capture market share in Hanoi and the North.

TGDĐ's financial report recorded an investment worth nearly VND861 billion, equivalent to more than 99.3% of shares in Tran Anh, as of the end of June 2024.

Before Tran Anh, TGDĐ dissolved two other subsidiaries, Toan Tin Logistics (established in 2021) and 4K Farm (established in 2020).

At the first quarter investor meeting this year, Chairman of Mobile World, Mr. Nguyen Duc Tai said that the dissolution of ineffective subsidiaries such as Toan Tin and 4K Farm is part of the restructuring plan that the company is implementing. The leaders at Mobile World call this transformation plan “reduce quantity – increase quality”.

In addition to closing inefficient companies, Mobile World leaders also took the drastic step of closing hundreds of electronics and phone stores. The weakening technology consumer market and fierce competition have forced the retail giant to implement the harshest operational optimization policy since becoming a listed company. From the beginning of 2023 to the end of June 2024, 191 Dien May Xanh stores and 144 Mobile World stores were closed.

BenThanh Tourist completes acquisition of Vinh Sang Tourist Area

On August 22, Ben Thanh Tourist Service Joint Stock Company (BenThanh Tourist) completed the investment to purchase 100% of shares at Vinh Sang Trading - Service - Tourism Company Limited, but has not announced the value of the transaction.

This transaction is part of the plan to acquire Vinh Sang Tourist Area, to increase the initiative of BenThanh Tourist Branch in Vinh Long, and at the same time bring long-term benefits to the Company, based on the Resolution of the 2024 Annual General Meeting of Shareholders.

Accordingly, the Board of Directors of BenThanh Tourist has implemented a plan to buy back 100% of shares of Vinh Sang Trading - Service - Tourism Company Limited (referred to as Vinh Sang Company) from June 2024. The capital source is from equity or borrowed capital.

According to business registration information, Vinh Sang Company was established in 2005, headquartered in An Binh Commune, Long Ho District, Vinh Long Province. The Company's charter capital is 11 billion VND. The legal representative is Mr. Cao Van Tung (born in 1973), Director of Vinh Sang Company.

Vinh Sang Tourist Area is located at the head of An Binh islet, An Binh commune, Long Ho district, Vinh Long province.

Vinh Sang Tourist Area is located at the beginning of An Binh Islet, along the banks of the Co Chien River, opposite My Thuan Bridge, in Group 14, An Thuan Hamlet, An Binh Commune, Long Ho District, Vinh Long Province. With an area of ​​about 2.2 hectares, Vinh Sang is a large natural garden with a system of interconnected canals with a variety of fruit trees, a typical space of the river garden area of ​​the Southwest region.

At the end of the second quarter of 2024, BenThanh Tourist owns 6 affiliated units and 3 joint ventures and associates including Ben Thanh Phu Xuan Tourism Company Limited; Ben Thanh Dong Khoi Boutique Hotel Company Limited and Phong Lan Apartment Rental Company Limited.

Regarding business situation, BenThanh Tourist's audited semi-annual financial statements for 2024 showed that net profit decreased by more than 17% compared to the self-prepared report, to less than 13 billion VND, almost unchanged compared to the same period in 2023.

The company said the difference is due to an increase in financial provision expenses of VND 555 million and recording current corporate income tax expenses for the first half of 2024 in the financial statements of nearly VND 2.2 billion.

In 2024, the Company aims to eliminate accumulated losses. The accumulated loss as of June 30, 2024 decreased to more than 17 billion VND, compared to the loss of nearly 30 billion VND at the beginning of the year, a result of losses in the period 2020-2021 (due to the impact of COVID-19).

Hapaco Group plans to invest in Green International Hospital

On August 20, the Board of Directors of Hapaco Group Corporation issued a Resolution to contribute additional capital to Green International Hospital Corporation, equivalent to 35.31% of the hospital's capital, with a transaction value of no less than VND 423.8 billion.

According to the plan, Hapaco will contribute an additional 32.33% of capital (19.4 million shares), the remaining 2.98% of capital (1.79 million shares) will be contributed by Hapaco's subsidiary, Hai Phong Paper Joint Stock Company.

Hapaco Group will contribute additional capital to Green International Hospital JSC.

The specific value of the deal has not been announced, but according to information on the Resolution, the price of each share will not be lower than VND20,000, equivalent to a value of no less than VND423.8 billion.

The Board of Directors unanimously authorizes Mr. Vu Xuan Thuy, Deputy General Director in charge, to carry out the necessary procedures for the additional capital contribution according to the Resolution, the Company's Charter and in accordance with the provisions of law. The Board of Directors, the Board of Directors, the Accounting Department, Internal Control Department and related departments, divisions and units, based on their functions, tasks and powers, are responsible for implementing the Resolution.

According to data as of June 30, 2024, Hapaco is recording Green International Hospital as an affiliated company, with a capital contribution ratio of 49.5%, original price of more than 443.5 billion VND. If the above transaction is successful, HAP will turn Green International Hospital into a subsidiary, raising the ownership ratio to 84.8% of capital.

In fact, HAP is the unit associated with Green International Hospital since its first days of operation in 2014 and has also increased and decreased its ownership ratio at the Hospital.

Specifically, HAP put the Green International Hospital project into operation on October 10, 2014, with a total investment of 447 billion VND. This is also a project to celebrate the 85th anniversary of the establishment of the Vietnam Trade Union. By 2016, the Hospital was assessed by the Department of Health to grant additional licenses to operate 2 general internal medicine specialties, cosmetic plastic surgery and signed a health insurance examination and treatment contract with the Hai Phong City Social Insurance.

On March 23, 2022, the Board of Directors of HAP passed a Resolution to contribute additional capital to the Hospital. However, by December 2022, HAP divested from this hospital and only retained 49.5% as at present.

In recent years, HAP has been promoting another hospital project, specifically participating in the investment in the construction of Green International General Hospital in Hai Duong province. The project has a scale of 300 beds, a total investment of about 1,000 billion VND and is waiting for the province to agree on compensation for site clearance.

Mr. Johnathan Hanh Nguyen's company bought more than 10% of shares in Nasco

European Fashion and Cosmetics Company Limited (ACFC), a member of IPPG Vietnam Group headed by Mr. Johnathan Hanh Nguyen, has just become a major shareholder of Noi Bai Airport Services Joint Stock Company. This deal marks a new step forward for the “king of luxury goods” in the field of aviation services.

Nasco's major shareholder structure currently includes Vietnam Airlines (holding 51% of capital), ACFC (10.38%) and Taseco Group (6%).

According to transaction information, ACFC bought 900,376 shares of Nasco on July 18, equivalent to 10.38% of the Company's shares. Notably, on the same day, Mr. Do Huu Nghia, the second largest shareholder of Nasco, sold an equivalent amount of shares. This shows that ACFC may have bought back shares from Mr. Nghia.

VietstockFinance data shows that Mr. Johnathan Hanh Nguyen's company spent VND24.76 billion on the deal, equivalent to nearly VND27,500/share, much higher than the closing price of VND24,000/share in the session on July 23.

After the deal, Nasco's major shareholder structure currently includes Vietnam Airlines (holding 51% of capital), ACFC (10.38%) and Taseco Group (6%).

This is not the first time that Mr. Johnathan Hanh Nguyen’s company has invested in the aviation services industry. Previously, ACFC owned 15.29% of shares in Sasco – an aviation services company operating mainly at Tan Son Nhat airport. Currently, Mr. Hanh Nguyen is also the Chairman of Sasco.

Nasco, the company that ACFC has just invested in, specializes in providing aviation services at Noi Bai airport such as passenger transport, ground services and cargo transportation. After a difficult period due to the COVID-19 pandemic, Nasco is gradually recovering. In 2023, the company recorded a net profit of more than 12.5 billion VND, many times higher than the previous year.

Vinamilk, Vietjet, Petrolimex... are all on the list of top enterprises.

Forbes Vietnam magazine has just honored and awarded the 50 best listed companies in 2024 with the appearance of leading enterprises in various fields, typical representatives of business lines and also names that have been listed on the stock exchange for many years such as Vinamilk, Vietjet, Petrolimex...

Vietjet is the 5th ranked enterprise in terms of revenue with 58,300 billion VND, an increase of 45% over the same period in 2022.

Based on the audited business results report for 2023, representing the aviation industry, Vietjet is the 5th ranked enterprise in terms of revenue with VND 58,300 billion, an increase of 45% over the same period in 2022.

Forbes Vietnam's Top 50 best listed companies are selected based on a rigorous evaluation process, from preliminary selection based on basic financial criteria to scoring based on revenue growth, profit, ROE, ROC and EPS growth in the period 2019-2023. In addition, Forbes also carefully considers the position in the industry, quality of governance and development prospects of the business.

In the context of the global economy facing many challenges, in the first six months of 2024, Vietjet continued to record outstanding business results with total revenue reaching VND 34,016 billion, up 15% over the same period in 2023, while pre-tax profit reached VND 1,311 billion, up 433% over the same period, exceeding the profit plan for the whole year of 2024 by 21%. Vietjet is also rated VnBBB-, among the highest among Vietnamese enterprises.

Hung Vuong Plaza officially belongs to KIDO

KIDO Group Corporation has completed the purchase of 58.5% of shares in Hung Vuong Corporation, the owner of Hung Vuong Plaza.

This transaction is part of the plan to increase ownership ratio in stages so that KIDO can hold up to 77% of shares at Hung Vuong, according to the Resolution approved by KIDO's Board of Directors in mid-July.

KIDO Group Corporation has purchased 58.5% of shares in Hung Vuong Corporation, the owner of Hung Vuong Plaza.

Hung Vuong is the owner of the famous commercial center building - operated by Parkson until 2023 - located at 126 Hong Bang, District 5, Ho Chi Minh City. Hung Vuong Joint Stock Company was established in 2004, currently led by Mr. Le Van Quang (born in 1997) as General Director.

The gloomy business situation has forced Parkson Vietnam Co., Ltd. - a unit 100% owned by Parkson Retail Asia - to file a petition to the court in Ho Chi Minh City to initiate voluntary bankruptcy proceedings on April 28, 2023.

After Parkson left, this shopping mall was taken over by KIDO and renovated, relaunched with a new commercial name, Hung Vuong Plaza - opening from October 12, 2023.

Source: https://baodautu.vn/the-gioi-di-dong-tru-di-cong-ty-con-hapaco-dau-tu-vao-benh-vien-green-hung-vuong-plaza-ve-tay-kido-d223217.html