Nam Long Investment Joint Stock Company (Stock Code: NLG, HoSE) has just announced the Resolution of the Board of Directors regarding the guarantee for the loan of Nam Long Land Investment Co., Ltd. (NLL)
Accordingly, Nam Long will guarantee a short-term loan of VND 200 billion for NLL at Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) – Ho Chi Minh City Branch 1 to finance the capital mobilization needs of this enterprise.
The guarantee obligations include a maximum principal amount of VND 200 billion, interest, overdue interest, and other expenses according to the limit loan contracts and amending documents, if any, signed between NLL and the bank.
The guarantee period is until the company completes its obligations related to this loan to Vietinbank.
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It is known that NLL is a wholly-owned subsidiary of Nam Long as of March 31, 2025.
In terms of business results, according to the consolidated financial statements for the first quarter of 2025, Nam Long recorded VND 1,291 billion in net revenue, six times higher than the same period last year. The revenue structure showed growth in all business segments, with revenue from the transfer of real estate accounting for more than VND 1,200 billion, over seven times higher.
In addition, financial income also increased by 87%, to more than VND 48 billion, mainly from bank interest and loans. Financial expenses increased by 96% to VND 99 billion, all of which were interest expenses.
Similarly, selling expenses and management expenses also increased. As a result, Nam Long recorded a post-tax profit of nearly VND 110 billion, a significant improvement compared to the loss of VND 65 billion in the first quarter of 2024.
On the balance sheet, Nam Long’s total assets as of March 31, 2025, were VND 28,763 billion, a decrease of 5.1% from the beginning of the year.
Inventories still accounted for the largest proportion of assets, at nearly VND 17,543 billion, a decrease of 2.5% in the first three months of the year and accounting for nearly 61% of total assets. The largest inventory is in the Izumi project, with more than VND 8,500 billion, and the WaterPoint Phase 1 project with VND 3,925 billion…
Short-term cash holdings exceeded VND 5,000 billion, and short-term receivables decreased slightly to VND 2,723 billion.
In terms of capital sources, total liabilities decreased by 10%, to over VND 14,243 billion. Of this, the amount of short-term prepayments from customers decreased to nearly VND 2,280 billion.
Financial debt stood at VND 7,100 billion, with bond debt accounting for nearly VND 3,620 billion, and the rest being bank loans. Of this, VND 610 billion of bonds guaranteed by GuarantCo Ltd. with an interest rate of 6.5% will mature in June 2025.
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