Saigon Garment and Match Joint Stock Company (Saigon Garment and Match) has recently submitted a document to the Hanoi Stock Exchange (HNX) announcing the issuance of domestic private bonds.
The company issued 4,700 bonds under the code MSG32506, with a face value of VND 100 million per bond, totaling VND 470 billion.
The bond issuance was completed on November 3, 2025, with a maturity period of 108 months, expected to mature on November 3, 2034. The bonds were issued in the domestic market.
This marks the sixth bond issuance by Saigon Garment and Match since the beginning of 2025, as per HNX records.
Most recently, on October 10, 2025, the company issued the MSG32505 bond series, also with a 108-month maturity, raising VND 500 billion.
Between August and September 2025, Saigon Garment and Match issued four other bond series: MSG32501, MSG32502, MSG32503, and MSG32504, mobilizing a total of VND 2,958 billion. According to HNX, all four series have a maturity of 84 months and an issuance interest rate of 9.2% per annum.
Saigon Garment and Match traces its origins back to the Ben Thuy Match Factory (Vinh), established in the early 20th century.
In 1948, the company was nationalized and transformed into the Hoa Binh Match Factory under the Paper – Wood – Match Corporation.
In July 2004, the company completed its equitization, rebranding as Saigon Garment and Match Joint Stock Company (SMG), operating in the real estate sector.
After several adjustments, as of August 2023, Saigon Garment and Match increased its charter capital from VND 4,380 billion to VND 5,059 billion.
Currently, Ms. Nguyen Chi Mai (born in 1991) serves as the Chairwoman of the Board of Directors and the legal representative of the company. Ms. Mai is also associated with several real estate companies, including New Star Hoa Binh Real Estate JSC, Long Van Real Estate LLC, and Quynh Luu Real Estate Development and Investment LLC.
Perspective of the TNR Stars Vinh Bao project.
Saigon Garment and Match is renowned as the developer of several high-profile real estate projects, including The Goldview in Ho Chi Minh City, TNR Stars Vinh Bao in Hai Phong, the urban renewal project at Sat Market in Hai Phong, and the Nam Co Dam residential area in Thanh Hoa.
According to reports, in February 2025, Saigon Garment and Match pledged the property rights to 10,701.78 square meters of commercial space in the Hoa Binh High-rise Building to Maritime Bank (MSB).
Previously, in December 2024, the company pledged 752 land lots from the Thanh Son Urban Housing Project in Phu Tho Province to MSB.
MSB has been a frequent credit partner of Saigon Garment and Match, often receiving project pledges from the company.
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