Accordingly, Binh Duong Minerals and Construction Joint Stock Company (Bimico - Code: KSB) has just announced the successful issuance of bond batch KSBH2429001 with a mobilized value of 300 billion VND. The bond has a term of 5 years, interest rate 10%/year, matures on June 28, 2029.
According to records, after more than 3 years, KSB mobilized capital again through this channel. The company's most recent bond issuance was at the end of April 2021, KSB successfully issued VND 350 billion to a domestic institutional investor.
In the second quarter of 2024, Bimico recorded revenue of 150 billion VND, down nearly 6% over the same period. In which, cost of sales decreased by nearly 30%, down to 56.4 billion VND. Due to the sharp increase in costs, the company's profit after tax in the second quarter only reached 12.1 billion VND, down 74% compared to the same period in 2023. The main reason is that other income targets decreased by 20 billion VND.
Accumulated in the first 6 months of the year, Bimico recorded net revenue of 192.8 billion VND, down more than 29% compared to the same period last year. Profit after tax is 21.3 billion VND, down 64% compared to the same period in 2023.
In the first 6 months of the year, Bimico earned more than 610 billion VND from issuing shares, receiving capital contributions from owners and more than 265 billion VND in loans. At the same time, the business also spent 650.8 billion VND to pay off the principal debt.
Similarly, Ho Chi Minh City Technical Infrastructure Investment Joint Stock Company (Code: CII) has just successfully issued bond code CIIB2427001, successfully mobilizing 300 billion VND with an interest rate of 9.95%/year. The bond has a term of 3 years, maturing on July 22, 2027.
This is also CII's return to issuing bonds after 3 years of absence from the market. CII's most recent issuance was on May 24, 2021, the business successfully issued 2 million bonds for a securities investment fund and successfully mobilized 200 billion VND with an interest rate of 11.5%/year, The bond batch matured 1 year after issuance, on May 24, 2022.
At the end of the second quarter of 2024, CII recorded net revenue of 699 billion VND, down 17% over the same period last year. This period, CII's cost price decreased sharply, helping the company make a gross profit of 413 billion VND, doubling compared to the same period last year. As a result, CII reported second quarter after-tax profit of 129 billion VND, up 55% over the same period.
Accumulated in the first 6 months of the year, CII's net revenue reached 1,577 billion VND, down slightly over the same period; Profit after tax reached 452 billion VND, 3.8 times higher than the same period last year.
IPA Investment Group Joint Stock Company (Code: IPA) has also successfully issued 2 batches of bonds with a total mobilized value of 1,042 billion VND. Both batches of bonds have an interest rate of 9.5%/year, 5-year term, and both mature in June 2029.
Before these two batches of bonds, IPA's most recent issuance was in March 2022, the business successfully mobilized 1,000 billion VND, this batch of bonds will mature in February 2025.
In the second quarter of 2024, IPA's net revenue reached 163.5 billion VND, an increase of 3.3 times over the same period. However, profit after tax was only recorded at 87.9 billion VND, down 42.6% over the same period. The main reason is that financial revenue decreased, while financial expenses increased 4 times over the same period last year.
Accumulated revenue in the first 6 months of the year, IPA's net revenue reached 1,080 billion VND, pre-tax profit reached 425 billion VND, corresponding to completing 49.2% of the year's profit plan.
In addition to the businesses returning to issue corporate bonds mentioned above, the market also recorded a number of businesses issuing bonds for the first time this year such as Hai Dang Real Estate Investment and Development Co., Ltd. with 3 installments. issued from the beginning of the year until now (as of August 1, 2024), total mobilized value is up to 5,350 billion VND; Da Nang Information Technology Park Development Joint Stock Company also recorded the first bond issuance with a mobilized value of 500 billion VND; Sun Group Joint Stock Company also started issuing bonds from the end of 2023 until now with 4 issuances, total mobilized value reaching 2,300 billion VND...
