Nguyen Binh Investment’s Business Performance
According to the latest financial report released by Hanoi Stock Exchange (HNX) in 2023, Nguyen Binh Investment Consulting Co., Ltd. (Nguyen Binh Investment) has achieved positive growth in its business results, with after-tax profit reaching 2.1 billion VND, a threefold increase compared to 2022.
In terms of the company’s financial health, as of the end of 2023, Nguyen Binh Investment’s equity capital stood at 303 billion VND, a slight increase compared to the beginning of the year (301 billion VND).
The debt-to-equity ratio increased from 12.04 times (corresponding to 3,600 billion VND) at the beginning of the year to 15.26 times (corresponding to 4,600 billion VND) at the end of 2023. Notably, the company’s outstanding bond balance remained relatively stable at 1,900 billion VND, which is 6.26 times its equity capital.
The return on equity (ROE) was 0.71%, a significant increase compared to 0.21% in 2022.
Previously, in the 2021 fiscal year, Nguyen Binh Investment reported an after-tax profit of 525 billion VND (ROE of 0.17%). In 2022, the company reported an after-tax profit of 638 billion VND (ROE of 0.21%).
Despite Modest Profits, Nguyen Binh Investment’s Liabilities Have Continued to Grow in Recent Years.
According to data from HNX, Nguyen Binh Investment currently has three outstanding bond issues: NBCCH2126001, NBCCH2124002, and NBCCH2124003, with a total value of 1,900 billion VND.
Among these, the NBCCH2126001 bond has a value of 400 billion VND and was issued on May 24, 2021, with a maturity date of May 24, 2026.
The NBCCH2124002 bond has a value of 1,000 billion VND and was issued on June 21, 2021, with a 3-year term and a maturity date of June 21, 2024.
The NBCCH2124003 bond has a value of 500 billion VND and was issued on July 21, 2021, with a 3-year term and a maturity date of July 21, 2024.
The registrar and custodian for all three bond issuances is Smartmind Securities Joint Stock Company (formerly known as KS Securities Joint Stock Company).
Therefore, at the end of June and July 2024, Nguyen Binh Investment will have 1,500 billion VND worth of bonds maturing.
Also according to data from HNX, despite reporting relatively modest after-tax profits compared to the company’s market capitalization, Nguyen Binh Investment has consistently made timely payments on its bond interest obligations in recent years.
In 2023 alone, the real estate company disbursed nearly 200 billion VND in interest payments for the three bond issuances totaling 1,900 billion VND currently outstanding.
Nguyen Binh Investment was established on June 24, 2019, with its primary business activity being real estate. The company’s headquarters are located in the Sunshine Center building, 16 Pham Hung, My Dinh 2 ward, Nam Tu Liem district, Hanoi.
As of June 2019, Nguyen Binh Investment had a charter capital of 300 billion VND, with two shareholders, Mr. Nguyen Van Cuong and Mr. Do Xuan Ky, each contributing 150 billion VND.
As of the end of April 2024, the company’s charter capital remained unchanged from the time of its establishment (300 billion VND). The company’s legal representative is Director Nguyen Van Cuong.
