CEO Group borrowed nearly 1.3 trillion VND from banks to invest in an urban development project in Me Linh.

CEO Group Joint Stock Company (CEO Group, MCK: CEO, HNX floor) has announced the Board of Directors' Resolution on approving a loan of nearly VND 1,287 billion at the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) - Thanh Xuan branch.

The purpose of the loan is to cover expenses, issue guarantees, and open Letters of Credit (LC) for the implementation of the investment project to build technical infrastructure and townhouses/villas. This is a component project of the CEO Me Linh New Urban Area Project, implemented by CEO International Co., Ltd. (CEO International). The loan capital also includes interest during the construction period, which is included in the total investment.

Rendering of CEO Group's urban development project in Me Linh ( Hanoi )

The collateral for the loan is all assets under the ownership and use of CEO International that were acquired using the loan capital from BIDV .

This project by CEO International has a total investment of nearly 2.282 billion VND and is being constructed in the communes of Me Linh, Dai Thinh, Trang Viet, and Van Khe, in Me Linh district, Hanoi.

On the part of CEO Group, the corporation commits to maintaining a minimum of 65% equity stake in CEO International throughout the loan period.

In the event that the corporation transfers its stake, resulting in its ownership percentage falling below 65%, this transaction can only be carried out if the following conditions are simultaneously met: the project has been sold, CEO International has contributed sufficient equity to the project, and written approval from the bank has been obtained.

Regarding business performance, according to the audited consolidated financial report for the first six months of 2025, CEO Group recorded net revenue of over VND 747.6 billion, an increase of 9.8% compared to the first six months of 2024. Profit after corporate income tax reached over VND 95.7 billion, an increase of 79.5% compared to the same period.

In 2025, CEO Group aims for consolidated total revenue of VND 1,543 billion and consolidated after-tax profit of VND 182 billion. With these results, after 6 months, the company has completed 48.5% of its revenue plan and 52.6% of its profit plan for the year.

As of June 30, 2025, CEO Group's total assets were recorded at over VND 8,653 billion, a decrease of 3.4% compared to the beginning of the year. Total liabilities amounted to over VND 2,308 billion, a decrease of 14.2%.

Source: https://daibieunhandan.vn/ceo-group-vay-ngan-hang-gan-1-300-ty-dong-de-rot-vao-khu-do-thi-o-me-linh-10393113.html