According to information published from Hano-vid Company, in the first half of 2024, the debt/equity ratio increased from 4.42 times in the first half of 2023 to 6.77 times in the first half of 2024, corresponding to the debt/equity ratio. paid at more than nearly 34 trillion VND.
Outstanding bond debt/equity decreased slightly from 1.83 times in the first half of 2023 to 1.81 times in the first half of 2024, corresponding to outstanding bond debt at nearly 9.6 trillion VND.
However, Hano-vid's profit after tax is often modest, especially compared to the size of equity. Hano-vid's profit after tax in the first half of 2024 reached 7.8 billion VND, down 80.7% over the same period last year.
Notably, the bond principal and interest payment report for the first half of 2024 shows that Hanoi-vid is paying interest on 182 lots of issued bonds with a total par value of 9,654.6 billion VND.
The term of these bond lots is about 5-7 years, most have no collateral and Vietnam Maritime Commercial Joint Stock Bank - Maritime Bank (MSB) is the depository organization.
Or as in the case of Thien Phuc International Hotel Company, known as the owner of the 4-star Novotel Saigon Center hotel in Ho Chi Minh City. According to published information, in the first half of 2024, the financial indicators of Thien Phuc International Hotel Company are still quite "gloomy" as the company's negative equity situation has lasted from 2022 to present. and has not been improved.
The financial report shows that, in the first half of 2024, the company had negative equity of 454.5 billion VND, while in the same period last year it was negative 902.9 billion VND. The debt/equity ratio increased from 9.63 times in the previous period to 10.67 times in the first half of 2024, corresponding to liabilities at 4,849.5 billion VND.
The company reported a business loss of 115.5 billion VND in the first half of 2024, while in the same period last year it was negative 369.6 billion VND. Previously, the two years 2021 and 2022 both had huge losses of more than 780 billion VND.
Regarding bonds, according to the report, the company's outstanding bond debt/equity decreased from 7.11 times the previous period to 6.6 times in the first half of 2024, equivalent to 2,999 times the outstanding bond debt. 7 billion VND.
Despite continuous business losses, Thien Phuc Company has issued many batches of bonds from 2020 to present. On August 31, 2020, Thien Phuc Company successfully mobilized 30 lots of bonds with a total par value of 3,000 billion VND. All 30 lots of bonds are still in circulation, deposited at Tan Viet Securities Joint Stock Company (TVSI) and have the same maturity date of August 31, 2025 and interest rate of 11%/year.
The bond principal and interest payment report for the first half of 2024 shows that Thien Phuc Company cannot make payments for all 30 lots of these bonds. The reason given by the company is that it has not yet arranged a source for payment.
The above are just enough cases to show that bond maturity pressure is still a headache for many businesses.
According to a newly updated report from MBS Securities Company, the value of corporate bonds bought back before maturity in August was estimated at more than 2,400 billion VND, down 93% compared to the previous month, of which banks accounted for 44%. Real estate group accounts for 9%. Accumulated from the beginning of the year until now, about more than 110,300 billion VND of bonds have been bought back before maturity, down 34% over the same period.
Currently, the total value of corporate bonds with delayed payment obligations is estimated at about 209,200 billion VND, accounting for 30% of the outstanding corporate bond debt of the entire market, of which the real estate industry continues to account for the largest proportion. about 68% of the late payment value.
