LDG’s 3rd Annual General Meeting of Shareholders in 2025 was held on the afternoon of June 26, 2025. Screenshot photo
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The LDG Annual General Meeting of Shareholders approved the 2025 business plan with net revenue of nearly VND 1,823 billion and profit after tax of nearly VND 92 billion. In 2024, LDG’s revenue reached only VND 173 billion and recorded a loss of nearly VND 1,506 billion.
Sharing about the feasibility of the 2025 business plan, Member of the Board of Directors and General Director Tran Cong Luan said that the Company has a relatively solid plan, based on the cooperation in the implementation of two projects, LDG Sky and LDG Grand Da Nang. The implementation has started since the beginning of the year and has achieved certain results.
Promote Viva Park project legal issues after July 1st
Regarding the Viva Park project (or Tan Thinh residential area), Chairman Ngo Van Minh said that after 2 years of working, on April 28, 2025, the case was tried and there was a first-instance verdict. Accordingly, LDG, in its capacity as a party with rights and obligations related to the case, is responsible for refunding the amount received from customers, and the enforcement of the judgment may be agreed upon by the parties.
Although according to the verdict, the investor must refund the amount received, but most customers want to receive the house instead of getting the money back, only 10 out of more than 300 customers want to get their money back. Mr. Minh explained that the reason is that customers appreciate the value of real estate has increased strongly compared to the time when the case just started, so they proposed that the authorities support the Company to complete the legal procedures to hand over the house.
The Chairman of LDG informed that in May, the People’s Committee of Dong Nai province invited the Company and related agencies to propose solutions to remove difficulties for the project. LDG expects that after July 1, 2025, when the administrative units are stable, the Company will urgently work to complete the legal procedures, many products of the project have not been traded yet.
On the other hand, Mr. Minh affirmed that up to now, there has been no judgment or document requesting the freezing of assets related to the financial obligations of the project.
Sharing about two former leaders related to the Viva Park case, namely former Chairman of the Board of Directors, Nguyen Khanh Hung, and former Deputy General Director, Nguyen Quoc Vy Liem, Mr. Minh said that after the decision of the competent authority, the current Board of Directors has regularly met and exchanged with these two former leaders to have solutions to promote the removal of legal problems at Viva Park.
Chairman of the Board of Directors of LDG, Ngo Van Minh. Screenshot photo
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LDG leaders plan to buy more shares
Regarding some other projects, Mr. Minh said that Viva City has been extended to build infrastructure in phase 2 and is expected to be completed in early 2028. Currently, the project has been granted a considerable number of books.
LDG Sky has a relatively complete legal framework, LDG is negotiating with partners to be able to arrange finance and deploy in this year.
For LDG Grand Da Nang, in March-April 2025, the People’s Committee of Da Nang city held two separate meetings with investors with projects on Son Tra peninsula, including LDG’s project. The company expects to finalize with partners in 2025.
The two projects, High Intela and West Intela, both belong to LDG’s subsidiary and are entangled in land use fees. However, in the past 6 months, the Company has worked with the Ho Chi Minh City People’s Committee and found a new way to calculate land use fees. The management board hopes that in the next 3-6 months, the land use fee calculation for this project will be completed.
Mr. Tran Cong Luan shared that Viva City in 2024 was extended the approved investment policy, so it is expected that in 2025, the legal procedures will be carried out to invest in infrastructure and hand over land to customers.
The Viva Tower project in Viva City has an area of 2.1ha, has completed the payment of land use levy, and is expected to carry out planning adjustment procedures this year.
As for the Viva Square project, LDG has almost completed the investment procedures, only a number of products are expected to be traded this year.
Thanh Do project (Can Tho) in 2023-2024 was suspended due to the impact of the real estate market. The company plans to implement cooperation or transfer to partners from 2025.
It is known that Thanh Do project is secured for LDG’s bond debt of about VND 186 billion. The above cooperation and transfer will help solve this bond package. The expected completion time is in 2025.
Regarding the fact that LDG’s market price is at a low level, Mr. Luan said that the Board of Directors and the Board of Directors always want the share price to be high, because only then will it reflect the value of the enterprise, thereby making it easier to mobilize capital. However, in the past time, due to many legal and financial problems, the share price has decreased significantly, hopefully in the coming time, the share price will improve.
The General Director of LDG added that up to now, the Company’s management has only focused on solving legal difficulties, so it is possible to increase the ownership ratio at LDG in the near future.
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Former Chairman of the Board of Directors attended and congratulated Especially at the General Meeting of Shareholders, Mr. Nguyen Khanh Hung, former Chairman of the Board of Directors, was also present to congratulate the new Board of Directors and share and encourage the Company’s management. It is known that in the near future, Mr. Hung will return to work with the new Board of Directors.
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Ha Le
– 09:18 27/06/2025
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