According to TTC Hospitality, the actual value of the company’s investment in Palace Binh Thuan is VND 66.5 billion. Therefore, with a transfer price of VND 76 billion, TTC Hospitality will earn a profit of VND 9.5 billion from this deal.
Palace Binh Thuan was recently established on September 24, 2024, with its headquarters in Phan Thiet City. The main business line is restaurant operations. The current charter capital is VND 70 billion, in which TTC Hospitality holds 95%, and Ben Tre Tourism JSC holds the remaining 5%.
 Mr. Vu Viet Ban
|
Mr. Vu Viet Ban, a member of the Board of Directors of TTC Hospitality, is currently the Chairman of the Members’ Council and legal representative of Palace Binh Thuan. Mr. Ban is also the representative of TTC Hospitality’s capital contribution in this subsidiary.
Mr. Le Chi Linh represents Ben Tre Tourism JSC’s capital contribution in Palace Binh Thuan. Mr. Linh previously served as the General Manager of TTC Can Tho Hotel from February to August 2023.
Regarding the transferee, Ta Cu Mountain Tourism JSC was established in November 2005, headquartered in Ham Thuan Nam district, Binh Thuan province, with Mr. Vu Viet Ban as the Chairman of the Board of Directors and legal representative. The main business lines include catering services and other tourism services.
Mr. Ban has been the Chairman of the Board of Directors of Ta Cu Mountain Tourism JSC since January 2016. About one and a half years later, the company’s charter capital increased from VND 37.53 billion to VND 44.98 billion. Of this, 0.441% of the charter capital is held by four individuals, including Mr. Nguyen Phi Long (0.301%), Mr. Nguyen Duc Phuong (0.03%), Mrs. Duong Thi Hong Hanh (0.05%), and Mr. Do Van Duc (0.06%).
PNJ Endorses a 500 Billion VND Loan
PNJ Joint Stock Company, a leading manufacturer and trader of fine jewelry in Vietnam, announced that it has guaranteed loans totaling VND 400 billion for its subsidiaries, PNJ Jewelry Manufacturing and Trading Company Limited and CAO Fashion Company Limited. The loans, amounting to VND 400 billion and VND 100 billion, respectively, will be utilized to bolster working capital and facilitate the issuance of letters of credit for the companies’ operations.
The Debt-Ridden Business: TTC Hospitality Puts Up Hotels as Collateral for Bond Issuance
TTC Hospitality is proud to announce the issuance of 500 billion VND worth of bonds, secured by the company’s own hotel properties and equity investments in other enterprises.
TTC Hospitality Posts Net Loss of Over VND 45 Billion in Q1 2024
Margin erosion failed to offset expenses, resulting in a VND45.3 billion ($1.9 million) net loss for TTC Hospitality in Q1/2024, wider than the VND6.7 billion ($284,000) loss recorded in the same period last year.
TTC Hospitality 2024: Total Assets Increased by More Than $43 Million
According to the information disclosed at the 2024 Annual General Meeting of Shareholders of TTC Hospitality Joint Stock Company (TTC Hospitality; HOSE: VNG) held on April 24, 2024.
