According to information from the Hanoi Stock Exchange (HNX), Ho Chi Minh City Service and Trading JSC (Setra Corp) has announced its financial statements for the first half of 2024, reporting a post-tax loss of 114.5 billion VND, an improvement from the previous year’s loss of 273 billion VND.
As of June 30, Setra’s equity capital stood at 295 billion VND. The debt-to-equity ratio was 11.84, indicating total debt of nearly 4,700 billion VND, a reduction of over 3,000 billion VND from the beginning of the year. The company’s bond debt amounted to 2,700 billion VND. Setra Corp’s total assets reached nearly 5,000 billion VND.
Setra Corp was established in October 1999 and is headquartered at 5 Cong Truong Me Linh, Ben Nghe Ward, District 1, Ho Chi Minh City. The company primarily operates in the real estate and land-use rights trading sector. Its legal representative is Mr. Tran Van Tuan. After privatization, the company changed its name to the current one and has a charter capital of 2,000 billion VND.
Notably, according to the conclusion of the Investigation Police Agency under the Ministry of Public Security, Setra Corp is one of four legal entities that committed fraudulent acts and violated legal regulations by creating 25 bond codes with a total value of 30,081 billion VND to sell to buyers, raising funds and appropriating them.
Setra Corp’s violations involved 20 codes from SET.H2025.01 to SET.H2025.20, with a total value of 2,000 billion VND. In addition, the company also issued 31 bond packages from STRCB2023001 to STRCB2023031, with a total issuance value of 3,750 billion VND, which matured in July 2023.
In the latest development in the Van Thinh Phat case, the Investigation Agency has temporarily seized a series of real estate assets related to Ms. Truong My Lan. Among them, Setra, entrusted by Truong My Lan, holds 18% of the capital contribution (over 142 billion VND) in the Limited Liability Company between Vietcombank – Bonday – Ben Thanh. This joint venture is the investor of Vietcombank Tower Saigon, one of the tallest and most prime locations in District 1’s central area.
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