The company was fined nearly VND 162 million in administrative penalties for making false declarations that led to an underpayment of taxes. However, the company has been commended for its timely and comprehensive recording of economic transactions that give rise to tax obligations in its accounting books, invoices, and documents.
Ninh Van Bay operates and manages the 5-star Six Senses Ninh Van Bay resort in Nha Trang, Khanh Hoa. The company also manages the Ana Mandara Villas Resort & Spa in Lam Dong and has plans for the second phase of Six Senses Ninh Van Bay and a 4-hectare resort project in Mui Ne.
 A villa within the Six Senses Ninh Van Bay resort
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In the third quarter of 2024, NVT returned to profitability with a net income of over VND 3.6 billion, compared to a loss of nearly VND 600 million in the same period last year. This improvement was mainly due to increased sales and better control over operating expenses.
However, the company reported a net loss of over VND 2.8 billion for the first nine months of the year, compared to a profit of over VND 6.5 billion in the previous year. This was due to some non-recurring expenses incurred by a subsidiary at the beginning of 2024, which led to a decrease in profits. As a result, the accumulated loss as of September 30, 2024, amounted to over VND 715 billion.
| Ninh Van Bay experienced a significant loss-making period, with the peak loss reaching VND 479 billion in 2017 |
This loss was the main reason for the Ho Chi Minh City Stock Exchange (HOSE) to maintain the warning status for NVT stock. On November 8, NVT’s share price closed 0.13% lower at VND 7,980 per share, equivalent to the price at the beginning of the year, with a matched volume of 6,800 shares.
| Compared to its highest peak this year, NVT share price has decreased by 34% |
“Free Cash Flow – Carefree Investment”: What Makes Libera Nha Trang’s Offering So Special?
With aspirations to become a centrally-governed city and an international seaside tourist destination by 2030, Khanh Hoa has been consistently excelling with remarkable developmental strides. The province’s growth trajectory is evident, with its first-half-year gross regional product growth rate for 2024 ranking second nationwide and leading the North-Central and Central Coastal regions.
“Khánh Hòa Invests 4.2 Trillion VND in Infrastructure Development”
The Vietnamese government has approved Khanh Hoa’s proposal to halt the use of World Bank loans and instead allocate a budget of 4.2 trillion VND from its own resources for three infrastructure development projects. This decision showcases the government’s commitment to taking initiative and utilizing its financial capabilities to drive forward local progress and advancement.
The Ocean Villa Owners Enjoy a “Coral Garden” at Gran Meliá Nha Trang
At the “peninsula” strip of land between Nha Trang Bay, Gran Meliá Nha Trang is not just built to be a free and happy “billionaire village”, but also a very humane place to enjoy when each owner has a “coral garden” right at their doorstep. Together with the investor, they embark on a mission to protect and propagate rare coral reefs.
“A Vietnamese Province Collects Over 750 Billion VND in Just 4 Days During the 2/9 Holiday Weekend”
Over the four-day National Day holiday (from August 31st to September 3rd), this province of Vietnam welcomed over 175,000 tourists, generating a remarkable revenue of more than VND 750 billion.
“Khánh Hòa: A Tourism Boom Over the 2/9 Holidays, Bringing in Over VND 750 Billion in Revenue.”
Over the four-day National Day holiday, from August 31st to September 3rd, Khanh Hoa province welcomed approximately 175,000 tourists, generating tourism revenue of over 750 billion VND. This impressive figure marks a 15% increase compared to the previous year’s 2nd of September holiday period.
