Although Van Huong reported a loss, its total assets as of December 31, 2023, increased by over 23% from the beginning of the year to nearly VND 25.3 trillion. Payable debt also increased by almost 28%, reaching over VND 22.3 trillion. However, bond debt decreased by 27%, standing at nearly VND 4.4 trillion.
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Van Huong’s 2023 Financial Results
Source: HNX
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Van Huong has eight bond issues outstanding, with a total issuance value of VND 5,535 billion, maturities ranging from 3 to 7 years, and maturity dates from 2024 to 2027. The interest rates on these issues range from 9% to 10% per annum. As the company repurchased VND 322 billion before the due date, the total value of its outstanding bonds is now VND 5,213 billion.
Van Huong is the investor of the Dragon Ocean Do Son international tourism area (also known as Doi Rong), with the Gleximco Group as the project developer. Located in Do Son, Hai Phong, the project spans 480 hectares, entirely reclaimed from the sea. It comprises luxury seaside villas, Minihotels, Shophouse townhouses, and high-end apartments. The total investment exceeds VND 25 trillion, financed by Van Huong.
