On March 26th and 27th, 2024, Hanoi Entertainment Services Joint Stock Company (Haseco) will hold an auction to liquidate 8 game equipment items in the Sun Park at West Lake Water Park, located in Tay Ho District, Hanoi.
Haseco has been selling a series of game equipment in the Sun Park since the beginning of the year, but after 2 auctions, only 2 types of game equipment were sold.
Hanoi Entertainment Services Joint Stock Company is selling nearly all game equipment in the Sun Park, West Lake Water Park.
Specifically, in the first announcement of asset auction on January 17th, 2024, Haseco offered to auction 10 game equipment items. They are the dragon train ride (Thang Long Steel Dragon), octopus merry-go-round, 8 electric bumper cars 2020, 4 electric bumper cars 2003, spectacular merry-go-round (carousel), Viking swinging boat (pirate ship), twisted swing, bungee swing, flying disc (UFO) and crazy wave (tug-of-war wave). The starting prices for these game equipment items are over 9.072 billion VND.
After 2 auction rounds, up to the present time, Haseco has only liquidated 2 game equipment items, which are the Viking swinging boat (pirate ship) with a starting price of 360 million VND and the twisted swing with a starting price of 180 million VND.
The remaining game equipment items that have not been liquidated were discounted twice by Haseco compared to the previous starting prices, each time with a 10% discount. The total starting price for the remaining game equipment items is over 6.9 billion VND.
Specifically, the dragon train ride (Thang Long Steel Dragon) has a starting price of over 4.126 billion VND; the octopus merry-go-round has a starting price of over 352 million VND; the 8 electric bumper cars 2020 have a starting price of 210 million VND; the 4 electric bumper cars 2003 have a starting price of over 204 million VND;
The spectacular merry-go-round (carousel) has a starting price of over 171 million VND; the bungee swing has a starting price of 121 million VND; the flying disc (UFO) has a starting price of over 869 million VND and the crazy wave (tug-of-war wave) has a starting price of over 855 million VND.
According to Haseco’s introduction, the Sun Park has a total of 16 games. Simultaneously liquidating 10 game equipment items has surprised many people, raising questions about Haseco’s decision, especially when summer is approaching.
Published documents show that the simultaneous liquidation of game equipment items in the Sun Park is related to the planning work of Hanoi People’s Committee and Haseco’s business plan since 2022.
A report from Haseco’s Board of Directors in mid-May 2023 stated that a road was planned through the 1.7-ha area of the Sun Park. In terms of business operations, starting from 2022, Haseco began to look for solutions to gradually increase the proportion of customers using full-service wedding catering and using the park for events.
Therefore, the company focused on reviewing and renovating the park’s infrastructure facilities, such as completing the renovation of Sen Hong Restaurant, carrying out the renovation of the basement and kitchen of Sen Hong Restaurant to promote wedding catering and event business activities. In addition, Haseco also focused on renovating the entire tiled area of the wave pool, children’s pools, etc.
The aforementioned liquidated game equipment items, according to the plan, were all dismantled (except for the huge swing), and Haseco’s Board of Directors agreed to liquidate them according to Proposal No. 107/2022/TTr-Haseco dated September 21, 2022, by the General Director.
In 2023, Haseco achieved revenue of over 152.4 billion VND, an increase of 12% compared to 2022, which was over 136 billion VND. Despite the increase in revenue, Haseco’s profit decreased by nearly 30% compared to the previous year. Specifically, in 2022, Haseco achieved a profit of 18.5 billion VND, while in 2023, it only reached 13 billion VND.
In the revenue structure of Haseco, there is a large source of income from allowing Sen Trading and Service Company Limited (Sen WestLake) to operate the infrastructure for buffet business. In 2023, revenue from this operation was over 11.2 billion VND, compared to over 11.1 billion VND in 2022.
On February 6, 2024, the Board of Directors of Haseco issued Resolution No. 165/ND/HĐQT-HASECO, deciding to authorize the company to renew the business cooperation contract with Sen WestLake.
The infrastructure for exploitation includes a buffet area with 2,000 seats, conference facilities, banquets, weddings, and children’s play areas. The contract value is over 1.05 billion VND per month, and the contract period is 10 years.
