On March 3rd, at the announcement conference of the investment planning and promotion for Phu Yen province in 2024, the provincial People’s Committee granted the investment approval and adjusted investment approval for 14 projects with a total registered capital of nearly 10,500 billion VND and 5 memorandums of investment cooperation with a total expected capital of 128,800 billion VND.
In addition, Phu Yen province also called for investment in 33 projects in the South Phu Yen Economic Zone and 37 other projects.
Among the 5 memorandums of investment cooperation, the most notable is the Hoa Phat Group (HPG) deciding to invest in 3 projects in the South Phu Yen Economic Zone, with a total scale of over 120,000 billion VND.
Chairman Tran Dinh Long: Hoa Phat will focus on 3 projects worth 120,000 billion in Phu Yen.
As for the 14 projects that Phu Yen province granted the investment approval and adjusted investment approval, EverLand Group (HOSE: EVG) has 2 projects, including the Xuan Dai Bay commercial service and resort complex and the construction of the Vung Lam Resort (Crystal Holidays Marina Phu Yen), with a total investment of 2,748 billion VND, both located in Xuan Dai Bay, Song Cau town, Phu Yen.
The Xuan Dai Bay project covers an area of 7.32 hectares with an investment capital of 786 billion VND. The products include 220 4-star hotel rooms, resort villas, mountain bungalows, shophouses, etc.
Meanwhile, the Crystal Holidays Marina Phu Yen project covers an area of over 29 hectares (including 5 hectares of water surface) with an investment capital of 1,962 billion VND. The project provides 520 5-star hotel rooms, resort villas, beachfront bungalows, mountain bungalows, conference center, etc.
Overview of the Crystal Holidays Marina Phu Yen project.
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Record-high net profit in 2023
In terms of business activities, by the end of 2023, EVG recorded a turnover of over 1,089 billion VND, a 15% decrease; net profit of nearly 31 billion VND, a 21% increase compared to 2022. This is also the highest net profit level of the company since its listing in 2017.
EVG’s net profit from 2017 – 2023
As of December 31, 2023, EVG has total assets of nearly 3,598 billion VND, a 35% increase compared to the beginning of the year. Cash and cash equivalents are at 129 billion VND, more than 4 times the beginning of the period.
Basic construction costs increased by 30%, reaching over 818 billion VND. In which, the Vung Lam project costs over 108 billion VND and the Xuan Dai Bay project costs over 93 billion VND.
Source: EVG
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EVG’s payable debts are nearly 15 times higher than the beginning of the year, at over 968 billion VND, due to the company incurring nearly 600 billion VND in financial loans for deposit according to contracts in order to implement the transfer of a part of the new Bac An Khanh urban area project at HH5 land, An Khanh commune, Hoai Duc district, Hanoi.
Thanh Tu
