Trungnam Group was established in 2004, starting as a unit in the construction field. After nearly 20 years of operation, the company has developed into a multi-industry corporation operating mainly in 5 fields including energy, infrastructure - construction, real estate, and electronic information industry.This company expanded into the renewable energy industry in 2018 and turned this segment into its main source of revenue. In the period 2019-2021, Trungnam Group's business group became a "hot" name in the market when it continuously mobilized trillions of dongs for renewable energy projects. VNDirect Research's report said that Trungnam Group is currently the company with the largest market share in the renewable energy industry with about 7%, ranked above other units such as Xuan Thien, Bamboo Capital, or BIM Group. This group has a number of outstanding key projects, such as Ea Nam Dak Lak Wind Power 400 MW, Trung Nam Thuan Nam Solar Power 450MW, Trung Nam Solar Power 204MW, Trung Nam Wind Power nearly 152 MW or Trung Nam - Tra Vinh Solar Power 140 MW...In 2021, Trungnam Group carried out a deal to sell 49% of the shares of Trung Nam Thuan Bac Solar Power Plant (204MW) to Asia Industrial Technology Joint Stock Company (ACIT) and sold 35.1% shares of Trung Nam Wind Power Plant to Hitachi Sustainable Energy (Hitachi SE) - a member of Hitachi Group (Japan). The transfer of shares in renewable energy projects was considered by the subject as a way to help the group have more cash flow to deploy other projects in the future. In July 2022, according to Bloomberg, Trungnam Group worked with a financial consulting unit to sell 30-35% of shares in its investment portfolio, mainly wind and solar power projects. This asset can be valued at up to USD 1 billion.According to a source, Trungnam Group's 2022 profit after tax reached VND 254 billion, a sharp decrease of 84.4% compared to the same period last year. The reason may be that the firm no longer recorded sudden profits from selling renewable energy shares like in 2021. The profit results reflect that Trungnam Group had suffered major impacts from the market in the context of rising lending interest rates. Besides, there were many difficulties and problems in a number of ongoing projects, that had not been resolved in 2022.In 2022, Trungnam Group bought back the entire lot of TNGCB2122002 bonds with a total value of VND 600 billion. However, according to a document sent to the Hanoi Stock Exchange (HNX), on March 16, 2023, Trungnam Group settled all VND 9.37 billion of interest on the bond lot TNGCH2223001. But, only VND 80 billion could be paid out of VND 400 billion of the principal of this bond lot. The reason given by the leaders of this group was that the interest rates were high, and the average electricity bill collection period had dramatically increased, affecting the business' cash flow. However, on October 18, 2023, Trung Nam Energy Development And Investment Corporation - a member of Trungnam Group, successfully issued 22,300 bonds with a face value of VND 100 million, equivalent to a total value of VND 2,230 billion.
Headquarters
Trung Nam Tower Building, No. 7A/68 (Old number: 7A/80), Thanh Thai Street, Ward 14
Ho Chi Minh municipality; South Eastern Vietnam;
Postal Code: 70000-74000
Contact Details: Purchase the Trung Nam Construction Investment Corp. report to view the information.
Website: http://www.trungnamgroup.com.vn - https://trungnamgroup.com.vn/
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