Danh Khoi wants to give up the idea of ​​buying Mr. Dung's project "Lo Voi"

(Dan Tri) - Danh Khoi stated the reason was that the economic context had many fluctuations and market conditions were not favorable for implementation.

Danh Khoi Group Joint Stock Company (stock code: NRC) is preparing to hold the 2025 annual general meeting of shareholders.

One of the notable contents in the proposal is to cancel the plan to issue individual shares to increase charter capital in 2024. The reason given by the company is that the economic context has many fluctuations and market conditions are not favorable for implementing the issuance.

This private issuance plan was proposed by Danh Khoi in 2024, with the aim of mobilizing 1,000 billion VND from shares. The amount of 195 billion VND mobilized is expected to be used to buy part of the project at Dai Nam Residential Area (National Highway 13, Chon Thanh, Binh Phuoc ) of tycoon Huynh Uy Dung (Dung "Lo Voi").

At the shareholders' meeting that year, Mr. Le Thong Nhat - Chairman of the Board of Directors of Danh Khoi - also admitted that the company had not officially purchased any projects from Mr. Dung "Lo Voi". In the plan, if Danh Khoi could mobilize finance, he would work with Dai Nam to purchase in the spirit of strategy, focusing on low-rise products, with pink books and infrastructure.

Mr. Nhat also said that the executive board is also working and researching many different projects. During the research process, there may be better projects and the company will decide to invest in that project.

Danh Khoi wants to give up the idea of ​​buying Mr. Dung's project "Lo Voi" (Photo: DN).

Returning to this year's plan, Danh Khoi's Board of Directors proposed a new plan by planning to offer more than 92.5 million shares to increase capital. The expected amount of more than 925 billion VND will be allocated to many different purposes.

Of which, more than VND337 billion was used to receive the transfer of 33.76 million shares at Vietnam Excellent Healthcare Investment Corporation; VND300 billion was used to invest in apartments in the Nha Trang project invested by VHR Investment Corporation. The rest was used to pay principal and interest on bonds; pay off loans and supplement working capital.

In the first quarter of this year, Danh Khoi's profit reached more than 664 million VND, down 75% compared to the same period last year. Last year, the company also lost more than 137 billion VND.

As of March 31, the company had nearly VND456 million in cash, down VND14 million compared to the beginning of the year. Most of its short-term and long-term assets were receivables (totaling VND1,625 billion, accounting for 87% of total assets).

Regarding financial debt, Danh Khoi has 246 billion VND in short-term debt and 45 billion VND in long-term debt. In the first 3 months of the year, debt has decreased by 63 billion VND.

Regarding the decrease in first-quarter profits, the company said that real estate business activities have not improved due to the sluggish general market. Sales revenue did not meet expectations, making the company not eligible to record revenue from investment cooperation contracts.

At the same time, the company is in the process of restructuring and expanding its business ecosystem, focusing on the core real estate sector. The company is developing additional potential industries that can generate profits in the future and expects to start recording revenue this year...

Source: https://dantri.com.vn/kinh-doanh/danh-khoi-muon-tu-bo-y-dinh-mua-du-an-cua-ong-dung-lo-voi-20250623153507501.htm