Hoang Quan Mekong Joint Stock Television-Trading-Service Company recently submitted its periodic financial report for the first half of 2024 to the Hanoi Stock Exchange (HNX).
According to the report, Hoang Quan Mekong posted a profit after tax of over 231 million VND in the first six months of 2024, a decrease of 92% compared to the previous reporting period.
As of the end of the second quarter of 2024, the company’s equity capital stood at 338.4 billion VND, slightly down from the same period last year. The debt-to-equity ratio increased from 14.99 to 15.47, corresponding to a total debt of nearly 5,236 billion VND, of which bond debt accounted for 500 billion VND.
Source: HNX
The entire bond debt mentioned above pertains to the code HQMCH2328001, issued on December 27, 2023, and it took nearly three months to complete the issuance. The bonds have a five-year maturity and a fixed interest rate of 12% per annum. On June 27, 2024, Hoang Quan Mekong paid over 30 billion VND in interest on this bond lot.
The assets securing the bond issuance include 450,000 shares in Binh Minh Port Joint Stock Company and all benefits, dividends, interest, and premiums (in cash, shares/bonds, and/or other assets), accrued interest (if any), increased asset value, and pre-emptive rights to purchase new shares/bonds arising from the aforementioned securities, as well as shares/bonds purchased through pre-emptive rights.
Other collateral includes all receivables, present and future, arising from investment cooperation/capital contribution/business cooperation/joint venture/alliance/sale/lease agreements related to the project “Binh Minh Specialist, Worker, and Commercial-Service Housing Area in My Hoa, Binh Minh Town, Vinh Long Province”. Also included are all floral benefits, dividends, increased asset value/equity arising from the business and exploitation of land-use rights and assets attached to the land, as well as all other current and future movable assets belonging to the above project.
Most recently, in August 2024, Hoang Quan Mekong registered a mortgage of all rights arising from the Land Lease Agreement No. 16/2024/HDTĐ/HQMK-NPC dated July 1, 2024, and its appendices (if any), between Hoang Quan Mekong and Hoa Nong NPC Joint Stock Company.
Established in May 2004, Hoang Quan Mekong is headquartered in Lot B5, Binh Minh Residential Area, My Loi Hamlet, My Hoa Commune, Binh Minh Town, Vinh Long Province. Its chairman, Mr. Truong Anh Tuan, is also the chairman of Hoang Quan Joint Stock Commercial Services Trading Company (coded HQC on HoSE).
With a charter capital of 320 billion VND, Hoang Quan Mekong is the investor in several projects: Binh Minh – Vinh Long Industrial Park (132 ha), Binh Minh Industrial Park (30 ha), and Binh Minh Apartment Blocks CC1 (13.5 ha), CC2 (7.5 ha), CC3 (1.35 ha), CC4 (0.91 ha), Binh Minh Commercial Center within the Binh Minh Residential Area (2 ha), Residential Area in Ward 3, Ward 2, Vinh Long City (1.1 ha), Tra Vinh Province’s 500-ha Non-Customs Economic Zone, Song Da – Binh Tan, Hoang Quan Plaza, Cheery – District 2, and the Tay Do Cultural Relocation Area in Can Tho…
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