A university in Ho Chi Minh City officially becomes a subsidiary of Kinh Bac

Ho Chi Minh City Stock Exchange (HOSE) has just announced information about Hung Vuong University Ho Chi Minh City becoming a subsidiary of Kinh Bac City Development Corporation (stock code: KBC).

According to HOSE, Kinh Bac contributed an additional VND110 billion, increasing its ownership ratio to 51.79% of charter capital. With this ownership ratio, the above university officially became a subsidiary of Kinh Bac.

Hung Vuong University Ho Chi Minh City was established in 1995, one of the first non-public universities in Vietnam.

The school is known for its long-term support of Mr. Dang Thanh Tam - currently Chairman of the Board of Directors of Kinh Bac - the enterprise that has just become the school's parent company. In 2004, Mr. Tam was invited by Ho Chi Minh City to be the school's sponsor during a period when the unit faced many instabilities.

With Mr. Tam's financial support, Hung Vuong School has overcome difficulties many times.

Currently, Hung Vuong University Ho Chi Minh City has 4educational facilities in Ho Chi Minh City, including the main headquarters at 736 Nguyen Trai (District 5), campus 28-30 Ngo Quyen (District 5), campus 37 Kinh Duong Vuong (District 6) and practice - research facility at Quang Trung Software Park (District 12).

KBC shares rebound after April plunge Source: Fireant

Regarding Kinh Bac, this enterprise has just received positive news when the Government approved the investment policy for the Urban Area - Resort - Eco- tourism - Golf Course complex in Khoai Chau district (Hung Yen province), with an area of ​​nearly 1,000 hectares and a total investment capital of up to 39,787 billion VND (equivalent to 1.53 billion USD).

This project is invested by Hung Yen Investment and Development Group Joint Stock Company, a member unit of Kinh Bac. Notably, this project has cooperation with IDG Capital, the representative of Trump Organization in Vietnam (the corporation of Mr. Donald Trump's family).

Regarding Kinh Bac's business situation, in the first quarter of 2025, this enterprise recorded consolidated net revenue of nearly VND 3,117 billion, 20 times higher than in the first quarter of 2024. After taxes and fees, the company's after-tax profit was VND 849 billion, much better than the loss of VND 76.7 billion in the same period last year.

Thus, by the end of the first quarter of 2025, Kinh Bac has completed more than 31% of the revenue plan and nearly 27% of the profit plan for 2025.

As of March 31, 2025, the value of the company's cash and cash equivalents portfolio increased slightly compared to the end of 2024, reaching nearly VND 6,581 billion, of which cash equivalents (short-term deposits in Vietnamese Dong at banks with interest rates from 1.6%/year to 4.5%/year and with terms from 1 month to 3 months) accounted for the largest proportion, up to 93%.

On the stock market, KBC shares were sold off heavily in the first quarter due to investors' concerns that the new tax policy from the US would have a strong impact on this business.

However, this stock has gradually recovered. At the end of the session on May 19, KBC shares increased by 3.4%, reaching VND 26,750/share, up 17% compared to the beginning of May but still down nearly 13% compared to the beginning of April 2025.

Source: https://nld.com.vn/mot-truong-dai-hoc-tai-tp-hcm-chinh-thuc-tro-thanh-cong-ty-con-cua-kinh-bac-196250519172652223.htm