Perspective of Gia Lộc Industrial Zone Project
According to a report submitted by TNI Nam Quang to the Hanoi Stock Exchange (HNX), on November 7th, the company issued 5,000 corporate bonds under the code TNQ32502, with a face value of 100 million VND per bond, successfully raising 500 billion VND. The bonds have a term of 108 months, maturing on November 7, 2034, with a fixed interest rate of 9.1% per annum, payable in full at maturity.
Additionally, as announced on HNX, on October 21st, the company issued 10,000 corporate bonds under the code TNQ32501, with a face value of 100 million VND per bond, raising 1,000 billion VND. These bonds also have a term of 108 months, maturing on October 21, 2034, with a fixed interest rate of 9.1% per annum, payable in full at maturity.
Within just over two weeks, the company successfully raised a total of 1,500 billion VND through these two bond issuances.
Developer of Multiple Industrial Zones in Hai Duong and Hai Phong
Established in 2005, TNI Nam Quang is headquartered in Nam Sach Industrial Zone, Ai Quoc Ward, Hai Phong City.
Initially, the company’s primary business was real estate. However, in April 2020, it shifted its focus to short-term accommodation services.
By September 2020, the company increased its chartered capital to 2,015 billion VND. Since June 2022, Ms. Trieu Thanh An (born in 1987) has served as the Chairwoman of the Board of Directors and the legal representative of the company.
TNI Nam Quang is the developer of several industrial zones, including: Nam Sach Industrial Zone (62.42 ha), Phuc Dien Industrial Zone (82.88 ha), Tan Truong Industrial Zone (198 ha), and Gia Lộc Industrial Zone in Gia Lộc District, Hai Duong Province (now part of Hai Phong City), spanning 198 ha.
Beyond industrial zones, TNI Nam Quang has partnered with various enterprises within its group to develop multiple residential real estate projects.
In May 2019, TNI Nam Quang was selected as the investor for the Urban Development Project 7A in Song Hien Ward, Cao Bang City (formerly Cao Bang Province).
In June 2021, the company was chosen to invest in two projects: Ba Co Urban Housing Area and Cu Hang Urban Housing Area, both located in Thanh Thuy Town, Thanh Thuy District (formerly Phu Tho Province).
In September 2022, TNI Nam Quang was approved as the investor for the Block III Residential Area project in Cao Loc Town, Cao Loc District (formerly Lang Son Province).
TNI Nam Quang has also collaborated with other group companies on various housing projects. Notably, it partnered with My Real Estate Joint Stock Company on the New Urban Area Project in Nga Bay Town 2 and the New Urban Area Project in Hoa Binh Town (formerly Bac Lieu Province), now part of Ca Mau Province.
Additionally, TNI Nam Quang and Viet Han Trading – Advertising – Construction – Real Estate Joint Stock Company have jointly developed projects such as the Northwest Urban Area II in An Lac Ward, Buon Ho Town (formerly Dak Lak Province), and the Truong Dinh Road and Adjacent Residential Area Phase 3 project.
A Frequent Partner of MSB
In its operations, TNI Nam Quang has frequently pledged assets and related property rights associated with its projects to the Maritime Commercial Joint Stock Bank (MSB).
Data from the National Agency for Registration of Secured Transactions and State Compensation reveals that, most recently on March 24, 2025, TNI Nam Quang pledged to MSB the secured asset of “Debt claims, receivables, and other payment rights owned by TNI Nam Quang related to land leasing for factory construction in Gia Lộc Industrial Zone, Gia Lộc District, Hai Duong Province.”
Earlier, on December 4, 2024, TNI Nam Quang pledged to MSB the secured asset of “Property rights arising from the Block III Residential Area project in Cao Loc Town, Cao Loc District, Lang Son Province.”
On October 14, 2024, TNI Nam Quang, together with Vietnam Real Estate, pledged to MSB the secured asset of “Property rights arising from the New Rural Residential Area project in Vinh Kim Commune, Chau Thanh District, Tien Giang Province.”
On October 3, 2022, TNI Nam Quang pledged to MSB the secured asset of “Property rights arising from the Block III Residential Area project in Cao Loc Town, Cao Loc District, Lang Son Province.”
On August 5, 2024, TNI Nam Quang pledged to MSB the secured asset of “Property rights arising from the Housing Development Project in Cai Nuoc Urban Area, Cai Nuoc District, Ca Mau Province.”
Beyond these secured asset pledges, data from MarketTimes, sourced from the National Agency for Registration of Secured Transactions and State Compensation, indicates that TNI Nam Quang has pledged numerous other assets and property rights to MSB.
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