Long Thanh Golf Investment And Trading Joint - Stock Company (Vietnam)

Long Thanh Golf Investment and Trading Joint - Stock Company is considered a core legal entity, playing the role of "holding", contributing capital and operating businesses in the KN Investment Group (or KN Group) ecosystem led by business couple Mr. Le Van Kiem and Ms. Tran Cam Nhung.As a leader in golf field in Vietnam, Mr. Le Van Kiem has realized potentials for real estate development that accompanies with golf course construction. Thus, in addition to 334 hectares golf course project in Phuoc Tan Ward, Bien Hoa City, Dong Nai Province, in 2011, KN Investment Group continued to be approved by People's Committee of Dong Nai Province to add a super project with scale of 843 hectares located right next to it (known as Eco-Tourism Urban Area). At the beginning of 2017, the subject established KN Long Thanh Investment and Trading Company Limited to undertake this Eco-Tourism Urban Area project. In Cam Ranh City, KN Investment Group also implemented a golf course project - Lotus Cam Ranh Resort Urban Area on an area of ​​794.45 hectares at Bai Dai (known as KN Paradise Cam Ranh). The subject also established KN Cam Ranh Company Limited to operate this project. In recent years, KN Investment Group engages itself into renewable energy segment by establishing legal entities like KN Van Ninh Solar Development and Investment Company Limited, KN Energy Group Joint Stock Company, KN Cam Lam Solar Joint Stock Company, Cam Lam Solar Joint Stock Company, etc. Most notably, KN Van Ninh Solar Development and Investment Company Limited has invested and operated KN Van Ninh Solar Power Plant (built on area of 120 hectares with total investment capital of more than VND 2,400 billion). Besides, KN Energy Group Joint Stock Company owns 20% stakes of Ialy Gia Lai Solar Power Joinstock Company (known as investor of KN Ialy Gia Lai Solar Power project with total investment capital of VND 9,559 billion). KN Energy Group Joint Stock Company also owns 10% stakes of Ialy Kontum Solar Power JoinStock Company (investor of KN Ialy Kon Tum Solar Power project with total investment capital of VND 4,121 billion). To prepare investment capital for projects, KN Investment Group has many bonds issuances with value up to trillions of VND. When the bond capital market has been tightened since 2022, Long Thanh Golf Investment and Trading Joint - Stock Company tends to use bank loans to finance projects. This could reflect that the pressure of financial obligations is not trivial. On the corporate bond information page of HNX (Hanoi Stock Exchange) (Cbonds), the subject announced a number of financial targets for the first 6 months of 2023. Accordingly, in the first half of the year, the subject recorded profit after tax reached nearly VND 16.7 billion, up 15.2% over the same period last year. As of June 30, 2023, the company's equity was nearly VND 6,732 billion, a slight increase over the same period last year. Its liabilities/equity ratio was 2.16 times, corresponding to liabilities of about VND 14,540 billion, an increase of 5% compared to the end of the second quarter of last year. Of which, the company's outstanding bond debt was VND 1,480 billion. According to updates on HNX, this company currently has a principal outstanding of VND 1,000 billion in the bond batch issued on December 21, 2021, due on December 21, 2024, with a bond interest rate of 9.5%/year, interest payment every 6 months. The remaining 10 lots of bonds issued in August 2020, 3-year term with total issuance value of VND 500 billion, interest rate of 10.5%/year were settled by the company in early August.