Bonds are about to mature but do not announce information Hoang Phu Vuong Joint Stock Company will mature the VND4,670 billion bond lot in July 2025.
This is a bond lot HPVCB2125001 issued on July 30, 2021.Since its issuance, the company has not published business results information periodically.
Hoang Phu Vuong Joint Stock Company has its head office at 15A Song Da, Ward 2, Tan Binh District, Ho Chi Minh City, with its main field of activity being real estate business. The HPVCB2125001 bond lot of Hoang Phu Vuong is an unconverted bond, without a certificate, guaranteed by assets. The purpose of issuance is to increase the scale of operating capital and implement investment programs and projects of issuing organizations.
There is also a large amount of bonds maturing in 2025, with Sun Valley Investment Joint Stock Company owning a single bond lot, SVLCB2125001, issued on December 17, 2021 and maturing on December 17, 2025, with an issuance value of VND 3,560 billion. However, the latest information about Sun Valley was recorded as a company being fined VND92.5 million for not disclosing information that must be disclosed according to the law.
Accordingly, the enterprise did not send the content of periodic information disclosure to the Hanoi Stock Exchange (HNX) for the following documents: semi-annual financial report, annual financial report, report on the situation of using the proceeds from issuing bonds for bonds with outstanding debts audited by qualified auditing organizations, report on the situation of paying principal and interest on bonds; report on the implementation of the enterprise's commitments to issuing bonds to bondholders; send the content of the announcement before the enterprise's bond offering for the bond code SVLCB2125001 not due to HNX...
In addition, there are a series of other enterprises that are about to mature thousands of billions of VND in bonds but have not published information such as: Phu Thinh Hoa Joint Stock Company has a bond lot worth VND 3,130 billion; Vast King Investment Joint Stock Company with a bond value of VND 2,260 billion); Truong Loc Real Estate Investment and Development Company Limited with a bond value of VND 1,910 billion...
It is known that in February 2024, Vast King Investment Joint Stock Company was fined VND 92.5 million by the Securities Commission for not sending information to HNX. Similarly, Phu Thinh Hoa Joint Stock Company was also fined VND92.5 million by the State Securities Commission for "not disclosing information that must be disclosed according to the law".
The pressure of bond maturity is still high
VIS Rating estimates that in 2025, there will be about VND224,000 billion of maturing bonds. Of which, about VND 110,000 billion is bond in the residential real estate industry.
According to VIS Rating, of this total maturing bond volume, about 17% of the value of bonds with a risk of late principal repayment and 94% of the value of this risky bond come from the residential real estate and tourism and resort groups.
Experts also believe that although the ratio of late-payment bonds to total outstanding bonds has gradually stabilized in the last three months, this is still a factor that needs to be monitored in 2025.
Most of the amount of late-payment bonds that have increased sharply in the period from September 2022 to June 2023 is expected to return and put pressure on issuers in the context of the average extension period lasting only about 22 months to a maximum of 24 months according to Decree 08/2023/ND-CP.
