A bird’s-eye view of the Charm Diamond project.
According to the Hanoi Stock Exchange (HNX), DCT Partners Vietnam has released its semi-annual financial report for 2024, revealing a net loss of 7 billion VND for the first time since the company started disclosing its financial information. In the same period last year, the company posted a profit of 14 billion VND.
The company’s debt-to-equity ratio (ROE) stood at -1% for the first half of 2024, compared to a positive 2% in 2023.
DCT Partners Vietnam had previously reported after-tax profits of 412.4 billion VND (ROE 62%) and 8 billion VND (ROE 1%) for the financial years 2022 and 2023, respectively.
As of June 30, 2024, the company’s equity was 657 billion VND, a 3.4% decrease compared to the same period last year. The debt-to-equity ratio was 1:1, with total liabilities amounting to 657 billion VND. Notably, the company had successfully reduced its bond debt to zero before the end of Q2 2024.
Source: HNX
Data from HNX shows that the only bond issue by DCT Partners Vietnam was the DCTCH2124001 bond, with 20,000 bonds issued at a face value of 100 million VND each, totaling 2,000 billion VND. The three-year bond, arranged by Bao Minh Securities Company (BMS) and Nam A Commercial Joint Stock Bank (NamABank; HoSE: NAB), was successfully issued on June 28, 2021, and will mature on June 28, 2024.
HNX data also reveals that DCT Partners Vietnam fully redeemed the DCTCH2124001 bond issue on June 28, 2024. Additionally, the company paid 200.24 billion VND in interest for this bond issue during the first half of this year.
As of the end of June 2024, DCT Partners Vietnam, led by CEO Nguyen Huu Nghia, has cleared its bond debt.
The B4 high-rise apartment project, part of the Song Than Complex and Charm Plaza 1 (commercially known as Charm Diamond), is located within the Charm City apartment complex in Di An City, Binh Duong Province. With a total area of over 5.2 hectares, Charm Diamond comprises 2 basement levels and 35 floors featuring 564 apartments, 12 houses, and 17 two-story shophouses.
Charm Diamond, developed by DCT Partners Vietnam (DCT Group), a member of Charm Group, was launched in late 2021. The project is currently being marketed by real estate brokers at prices ranging from 35 to 39 million VND per square meter.
DCT Partners Vietnam, established in June 2008, was initially a foreign-invested enterprise and a subsidiary of Charm Engineering Group (South Korea). The company transitioned to domestic investors in 2019 and is now recognized as a significant member of Charm Group, founded by entrepreneur Tran Kha Minh. With a charter capital of 302.7 billion VND, the company specializes in real estate business and operates from its head office at 115 DT743C Street, Thong Nhat Ward, Di An City, Binh Duong Province. Its legal representative is General Director Nguyen Huu Nghia.
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