Raising nearly VND 1,000 billion in bond issuance
Ho Chi Minh City-based Saigon Garment and Match Factory JSC (HNX: SMG) has recently announced the private placement of its MSG32502 bonds on the Hanoi Stock Exchange (HNX).
Specifically, the company offered 5,000 bonds with a par value of VND 100 million each, amounting to a total issuance value of VND 500 billion. The bonds, issued on August 25, 2025, have a tenor of 84 months and will mature on August 25, 2032. They bear a fixed interest rate of 9.2% p.a., payable at maturity.
According to data from HNX, earlier on August 12, Saigon Garment and Match Factory JSC had issued MSG32501 bonds worth VND 490 billion, with the same tenor of 84 months and a fixed interest rate of 9.2% p.a., payable at maturity.
Saigon Garment and Match Factory JSC, formerly known as Ben Thuy Match Factory, was established in the early 20th century. In 1948, the company was nationalized by the government and renamed Hoa Binh Match Factory under the Vietnam Paper, Wood, and Match Corporation.
In July 2004, the company completed its equitization process and changed its name to Saigon Garment and Match JSC (SMG). It is headquartered at 346 Ben Van Don, Ward 1, District 4 (now known as Vinh Hoi Ward), Ho Chi Minh City, and operates in the real estate sector.
Over the years, the company has undergone several changes. As of August 2023, Saigon Garment and Match JSC 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 Chairman of the Board of Directors and legal representative of the company.
Ms. Nguyen Chi Mai also holds positions as General Director of New Star Hoa Binh Real Estate JSC, Director of Long Van Real Estate Co., Ltd., and Chairman of Quynh Luu Real Estate Investment and Development Co., Ltd.
Developer of multiple real estate projects
Saigon Garment and Match JSC, also known for its close association with TNG Holdings Vietnam (now ROX Group), gained attention in 2021 as a shareholder of Vietnam Maritime Commercial Joint Stock Bank (MSB).
The company has gained prominence in Vietnam’s real estate industry, undertaking numerous projects across the country. One notable project is the Hoa Binh Apartment Building Complex (The Goldview) located at 346 Ben Van Don, Vinh Hoi Ward, Ho Chi Minh City. This complex consists of two towers, Tower A with 33 floors and two basements, and Tower B with 27 floors and two basements. Tower A offers a total of 1,459 apartments for sale and 146 serviced apartments, while Tower B comprises 300 serviced apartments (a total of 1,905 units).
The Goldview project at 346 Ben Van Don, Vinh Hoi Ward, Ho Chi Minh City, developed by Saigon Garment and Match JSC
In June 2020, Saigon Garment and Match JSC was selected as the investor for a commercial and residential project in Duc Tho town, Duc Tho district, Ha Tinh province. This project spanned an area of 11.71 hectares and entailed a total investment of VND 1,196 billion. The land use structure comprised 24.4% for commercial and service purposes, 31.4% for detached houses, 40% for transportation infrastructure, and the remaining for social welfare facilities.
In the same month, the Lao Cai Provincial People’s Committee chose a joint venture between Saigon Garment and Match JSC and My Real Estate JSC as the investor for the new urban area project in Bao Ha district, Lao Cai province.
In Hai Phong, the company is developing a residential area in Vinh Bao town, known as TNR Stars Vinh Bao. This project received approval from the Hai Phong City People’s Committee in Decision No. 254/QD-UBND dated July 23, 2021, and the investor was confirmed in Decision No. 3355/QD-UBND dated November 22, 2021.
According to Decision 3355/QD-UBND, the project’s investment capital is VND 829.6 billion. It entails the construction of 387 detached houses with a land area ranging from 90-120 sq. m each, a road width of 5-6 m, and a maximum height of 5 floors.
Notably, the Government Inspectorate identified several violations by Saigon Garment and Match JSC in this project related to land price determination and construction without a license.
Also, in Hai Phong, in November 2021, the company was approved as the investor for a project to build a commercial center, amusement park, 5-star hotel, and office for lease in the area of Cho Sat (Thap Nam area). This project involves the construction of a 40-story building and two basements on a land area of 15,200 sq. m, with a height of 146 m from the ground to the roof.
The project’s implementation cost, excluding compensation, support, resettlement, land use fees, and land rent, is over VND 6,000 billion. Construction commenced in February 2022.
In Thanh Hoa province, Saigon Garment and Match JSC was selected as the investor for the Nam Co Dam Urban Area project in Lam Son ward, Bim Son town, in August 2019. The Thanh Hoa Department of Construction granted the project an investment certificate (license) number 1941/GPXD dated March 30, 2021. A month later, on April 23, 2021, the department issued Notification No. 2573/SXD-QLN, stating that the project met the conditions for capital mobilization.
In Phu Tho province, the company was chosen as the investor for the Ha Loc Urban Area project in Ha Loc ward, Phu Tho town, according to Decision No. 1311/QD-UBND dated June 9, 2021.
Simultaneously, in June 2021, Saigon Garment and Match JSC was selected as the investor for the Thanh Son Urban Area project in Thanh Son town, Thanh Son district, Phu Tho province.
Heading back south, on March 21, 2024, the People’s Committee of Tra Vinh province issued Decision No. 399/QD-UBND, approving the company as the investor for the Residential Area project in Tieu Can town, Tieu Can district, Tra Vinh province.
Saigon Garment and Match JSC is also engaged in various other projects in the southern region, including the An Chau 2 Urban Area in An Chau town, Chau Thanh district, An Giang province; the New Residential Area (within the district administrative center combined with the residential area of Dak Doa town, Dak Doa district, Gia Lai province); and the Southern Urban Area of National Highway 19 in Phu Phong town, Tay Son district, Binh Dinh province.
Shophouse Vlasta – Sam Son: Versatile Functionality, Long-term Profitability
Nestled within an international beachfront resort complex, Vlasta – Sam Son shophouses offer a rare investment opportunity in a market poised for robust growth. With their prime location, these shophouses boast long-term legal ownership and flexible utilization options, presenting a unique prospect for those seeking to capitalize on the area’s burgeoning potential.
Worldvills Property: Leading the Way in Phu Quoc’s Investment Boom with Bung Goi Verdura Estate
Worldvills Property is proud to announce its official distribution of the Bung Goi Verdura Estate project – a pristine eco-tourism retreat developed by Ha Tang Do Thi Corporation. Strategically located on the thriving Ong Lang – Bung Goi – Duong Dong axis in Phu Quoc, this project is poised to cater to the island’s burgeoning international tourist scene.
From Untouched Land to a Thriving Market: The Rise of Nhon Trach, Dong Nai
The influx of large-scale infrastructure projects in Dong Nai, and specifically Nhon Trach, has transformed the region. The early real estate businesses and projects that took root in this area are now reaping the rewards of this development, witnessing a landscape that has been revolutionized.
Unveiling the Unprepared: Startling Survey Reveals 89% of Real Estate Agents Lack Certification, Inviting Fines and Disputes, Warn Lawyers.
A recent national survey has revealed a concerning issue within the real estate industry: almost 9 out of 10 real estate agents are operating without a valid license. This alarming finding has prompted lawyers to warn of the potential financial penalties, legal repercussions, and client damages that may arise if this situation remains unaddressed. It is imperative that real estate professionals prioritize obtaining the necessary qualifications to ensure compliance and protect their clients’ interests.
“Chairman of Cen Group, Nguyen Trung Vu: Vietnam’s Real Estate Market Won’t See an Evergrande or Country Garden Fiasco, But It’s No Place for Amateurs Going Forward”
“At the ‘Real Estate or Real Estate!’ episode of Good Morning HANOIBA, Mr. Nguyen Trung Vu, Chairman of Cen Group, offered candid insights into Vietnam’s real estate landscape. Emphasizing the fundamental differences with China’s market, he asserted that only truly skilled investors will weather the storms.”
