According to the consolidated financial report of Nam Long Investment Corporation (Nam Long, stock code: NLG), as of the end of June 2024, the total net value of inventory of the company was VND 19,164 billion (an increase of nearly VND 2,000 billion compared to the end of 2023), accounting for 64.4% of total assets (equivalent to VND 29,731 billion).
Of these, the Izumi project (Dong Nai) accounts for the largest share, 45%, equivalent to VND 8,655 billion; followed by the Waterpoint Phase 1 project ( Long An ) accounting for 20%, at VND 3,837 billion…
By the end of Q2/2024, Nam Long's total liabilities were recorded at VND 16,425 billion. Of this, short-term loans and long-term loans accounted for nearly 40%, at VND 6,531 billion.
Similarly, in the inventory structure of Novaland Investment Joint Stock Company ( Novaland , stock code: NVL) as of the end of June, real estate under construction amounted to nearly VND 134,000 billion, an increase of approximately VND 4,000 billion compared to the end of 2023, mainly comprising land use fees, design and construction consulting fees, and other costs directly related to the projects.
The completed real estate project is ready for sale at 8.38 trillion VND. However, Novaland did not provide details about which specific projects the company is building or owning.
Notably, by the end of June 2024, Novaland's equity was only about VND 45,647 billion while its liabilities were four times higher, reaching VND 194,531 billion. Of this, short-term and long-term loans amounted to VND 59,214 billion (accounting for 30.4%).
According to Novaland's Q2/2024 financial report, the group completed the transfer of its capital contribution in Huynh Gia Huy Joint Stock Company for a transfer price of nearly 1.9 billion VND. This transfer price does not include the value of utility assets and outstanding debt obligations.
Following this transaction, Novaland recorded a loss of 797 billion VND due to the difference between the total transfer value and the book value of the net assets.
Huynh Gia Huy became a subsidiary of Novaland in 2019. This company is known as the investor of the NovaHills Mui Ne project (Phan Thiet), covering an area of approximately 40 hectares.
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