## GDT’s Board of Directors Approves Land and Asset Acquisition in Binh Duong Province
On May 20, GDT’s Board of Directors approved the acquisition of land use rights and ownership of housing and assets attached to the land in Tan Uyen city, Binh Duong province. The announced purchase price is VND 138 billion (excluding taxes and fees).
According to information provided by GDT, the land lot is numbered 995, on map sheet number 3, in Tan Hiep ward, Tan Uyen city, Binh Duong province. The total area is 28,666.7 m2, including 300 m2 of residential land for long-term use; 3,836.2 m2 of land for long-term fruit tree planting until March 2049; and 24,530.5 m2 of land for non-agricultural production facilities until April 11, 2052.
GDT will also acquire two factory buildings, including Factory 1 with a construction area of 4,860 m2 and Factory 2 with a construction area of 7,020 m2.
The sellers in this transaction are Mr. Duong The Long (born in 1968) and his wife, Mrs. Chau Kim Loan (born in 1971), both permanent residents of Binh Duong province.
At the 2024 Annual General Meeting held on May 18, Chairwoman Le Hai Lieu mentioned this acquisition. Specifically, Ms. Lieu stated that they had found a factory in Tan Hiep ward, near the company’s Factory 3. This factory already has a lease agreement in place, offering a stable profit margin of around 10%, with potential for rent increases annually.
Regarding the funding for this acquisition, Ms. Lieu, the Chairwoman of GDT, stated that the company might spend VND 158 billion on the purchase, using VND 68 billion of the company’s own capital and a VND 90 billion loan from BIDV. She added that the deal is expected to be finalized in the coming weeks and that securing the VND 90 billion loan is not an issue for GDT.
“Many businesses and investors are financially strained these days. Why don’t we take advantage of the low-interest rates during this period to acquire assets that they urgently need to sell? GDT’s financial situation is very healthy, so obtaining loans is not a problem,” shared Ms. Lieu.
According to Ms. Lieu, investing in real estate at this time will not only provide stable rental income but also offers significant profit potential if sold in the future. The criteria for this investment include the presence of an existing factory and a lease agreement.
Ms. Lieu estimates that renting out Factory 2 and the newly acquired factory in Binh Duong is expected to generate VND 25 billion per year, with minimal maintenance costs.
Chairwoman Le Hai Lieu speaking at GDT’s 2024 Annual General Meeting. Photo: VH
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