As of June 30, 2024, Phu My Hung’s total assets stood at nearly VND 22.4 trillion, marking a substantial increase of over 17% from the previous year. Its liabilities witnessed a more modest rise of almost 7%, reaching over VND 35 trillion. Notably, the bond debt remained unchanged at VND 8 trillion.
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Phu My Hung’s Business Results for the First Half of 2024
Source: VietstockFinance
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Phu My Hung currently has three batches of bonds issued in the domestic market and three batches issued internationally.
Of the domestic bonds, two batches with codes PMH.300.2019 and PMH.1700.2019.01 were issued in 2019, while the third batch, coded PMH.1700.2019.02, was issued in 2020. Together, these three batches raised VND 2 trillion, with interest rates ranging from 7.15% to 8.8% per annum, and all maturing in 2026.
Turning to the international bonds, two batches with codes PMH.75.2020.01 and TW000F169016 were issued in 2020. The first batch, PMH.75.2020.01, is valued at USD 75 million and carries an interest rate of 2.58%, maturing in June 2027. The second batch, TW000F169016, is worth USD 80 million with a 1.43% interest rate, maturing in October 2025. The remaining batch, coded PMHCD2126001, amounts to USD 150 million with a 2% interest rate and will mature in December 2026.
Phu My Hung Development Company Limited, established in December 2008, is the investor behind the Phu My Hung urban area project in District 7, Ho Chi Minh City.
With a charter capital of VND 954 billion, the company is directed by Mr. Tseng Fan Chih, a Chinese national, who serves as both General Director and legal representative.
The company’s capital comprises 70% foreign investment (contributed in foreign currency) and 30% private capital (contributed through land use rights). The foreign investment is held by Phu My Hung Asia Holdings Corporation, based in Cayman Island, while the private domestic capital is held by Tan Thuan Industrial Promotion Company Limited (IPC).
IPC is a state-owned enterprise wholly owned by the Ho Chi Minh City People’s Committee, currently headed by Mr. Lam Hoai Anh as General Director and legal representative. Previously, the company was led by Mr. Pham Phu Quoc and Mr. Te Tri Dung in these roles.
