Nam Chien Hydro Power Joint Stock Company (Vietnam)

The subject had precursor as Nam Chien Hydropower Project Management Board, which founed in late of 2003. Currently, the subject is known as investor and operator of Nam Chien 1 hydro-power plant with electric generation capacity of 200MW. The Hydropower plant has the most pecial and intricate arch dam design in Vietnam. The subject has supplied electricity to national grid since early 2013.As mass media, having unstable business result along with huge loans borrowed from the banks, financial situation of the subject was very risky in the first years of production. Anyway, with better business result, all or accumulated losses in the past had been covered since 2017. However, the subject has been still depended very noticeably on loans and financial leases.Noticeably, the subject has always delayed payment to the Department of Taxation with noteworthy amount. Besides, according to the State Audit, at year-end 2017, the subject had over VND 71 billion of overdue principal bank loans and over VND 174 billion of overdue banks loan interests. According to Vietnam Ministry of Finance, the subject had about VND 700 billion of payable amount came from its parent company - SONG DA CORPORATION.In conclusion, after 16 years since foundation, the subject has stabilized operation. Moreover, the subject has received lot of supports from its parent company - SONG DA CORPORATION. However, its financial situation has been still very risky.