In 2021, Glexhomes has mobilized VND 1,000 billion from the bond channel for the aim of “injecting capital” for its subsidiary. However, getting into 2022, this enterprise continues to spend VND 6,000 billion on unsecured loans for the Dragon Hill mission proprietor.
Worth mentioning, that quantity of VND 6,000 billion is sort of twice the corporate’s complete property as of the tip of final yr.
Debt elevated by 10,300% after 12 months
Information from Glexhomes Joint Stock Company, in April, July, July, 2022, this enterprise has granted unsecured loans to Van Huong Investment and Tourism Joint Stock Company (Owner of Dragon Hill Project) 3 instances with a complete quantity of VND 6,000 billion (every). instances 2,000 billion dong), mortgage rate of interest is 8%/yr, mortgage time period is 12 months.
Notably, Glexhomes “boomed” to lend to the aforementioned firm as much as VND 6,000 billion within the context that solely a yr earlier, this enterprise additionally needed to mobilize from a bond channel of VND 1,000 billion for its subsidiary – the Company. South Saigon General Import-Export Joint Stock Company borrowed to implement the mission of An Long Residential Area, Long Hau Commune, Can Giuoc District, Long An Province.
This is without doubt one of the the explanation why Glexhomes monetary debt elevated by 10,300%, from 12.5 billion VND to 1,300 billion VND after solely 12 months.
In addition, different loans that induced Glexhomes’ debt to “bully” embody: Unsecured loans of Glixemco Group – Joint Stock Company 183 billion VND, 25 billion VND of Ms. Vu Thi Minh Phuong, 5 billion VND of Mr. Vu Van Hau’s loans. and secured loans at An Binh Bank of VND 87 billion,…
The mortgage quantity is sort of 2 instances larger than complete property in 2021
By the tip of 2021, Glexhomes’ complete property reached greater than VND 3,144 billion, up 217% in comparison with the start of the yr. This implies that the quantity of VND 6,000 billion that the corporate lends to the proprietor of the Dragon Hill mission is twice as a lot because the capital this enterprise owns (by the tip of 2021).
Not to say, the asset construction of Glexhomes reveals that part of the asset development in 2021 is “outside” the corporate. Specifically, Glexhomes’ receivables elevated from VND 617 billion to VND 1,402 billion. In which, a lot of the receivables are from clients who’re associated events reminiscent of Glixemco Group – JSC, Van Huong Investment and Tourism Joint Stock Company, …
The merchandise Cash and money equivalents elevated from VND 18 billion to VND 63 billion. Besides, by the tip of 2021, Glexhomes owns 669 billion dong of shares of An Binh Commercial Joint Stock Bank (UPCoM: ABB) whereas the recorded unique value is 309 billion dong.
In 2021, Glexhomes’ enterprise money movement modified from constructive to detrimental almost 753 billion dong. Net money movement from funding actions was additionally detrimental VND 570 billion in comparison with a constructive determine of VND 57 billion firstly of the yr.
Looking on the monetary image of Glexhomes in 2021, it may be seen that the debt elevated sharply, the cash was simply over 63 billion dong, the money movement was detrimental,… So, the story of Glexhomes the place did the 6,000 billion dong get for the Investment Joint Stock Company. Van Huong Investment and Tourism is an attention-grabbing problem when wanting on the potential of this enterprise.
Enterprises within the Geleximco ecosystem
Glexhomes Joint Stock Company, previously generally known as An Binh Star Joint Stock Company, was established on September 12, 2009 in Ho Chi Minh City. Hanoi, might be thought-about as one of many “core kernels” within the Geleximco ecosystem of Thai Binh-born big Vu Van Tien.
In 2021, the funding capital of Glexhomes house owners will enhance from VND 550 billion to VND 825 billion. Along with that, the shareholder construction additionally had a powerful disturbance when Mr. Vu Anh Tuan and Ms. Vu Thi Minh Trang divested all of their capital within the firm. Instead, the record of members has the looks of Ms. La Thi Thanh Nhan (holding 53.99% of Glexhomes’ fairness).
By January 19, 2022, Glexhomes’ constitution capital continued to alter when it elevated from VND 825 billion to VND 1,137 billion. Mr. Tran Nam Trung holds the position of General Director cum authorized consultant of the enterprise.
Meanwhile, Van Huong Investment and Tourism Joint Stock Company was established on January 14, 2010. It is understood that Van Huong Tourism is the investor of the Dragon Hill International Tourist Area mission, with a scale of 480ha in Van Hung ward, Do Son district, Ho Chi Minh City. Hai Phong. The complete funding of this mission is greater than 25,000 billion VND.
Updated on June 15, 2021, the constitution capital of Van Huong Investment and Tourism Joint Stock Company reached VND 3,000 billion. The authorized consultant is Mr. Pham Ngoc Tuan (SN 1969). According to analysis, Mr. Tuan is presently a member of the Board of Directors and General Director of Hanoi General Investment Joint Stock Company (code: SHN) – a member of Geleximco Group. In addition, from 2017 to now, he has held the place of General Director of An Binh Investment Group JSC.