Vietnam's tourism 'boss' asks for extension to pay 100 billion VND in bonds

Specifically, TMG201902 is a bond lot that Thien Minh Group has not paid the full principal and interest. This bond lot is worth 100 billion VND, issued in 2019, with a term of 4 years, and the principal and interest payment due on June 12, 2023 is more than 110 billion VND, but Thien Minh Group has not paid in full. The company has only paid nearly 317 million VND in interest and more than 3.2 billion VND in principal. Thien Minh Group is negotiating with bondholders to extend the payment.

With the TMG201903 bond lot worth VND 50 billion, issued in 2019, with a term of 5 years, Thien Minh Group paid interest of nearly VND 5 billion on June 12, 2023. The Company did not incur any obligation to pay principal for this bond lot during the reporting period.

Seaplane sightseeing service in Ha Long

The purpose of using the capital of the two above-mentioned bonds is to increase the scale of the enterprise's operating capital and serve the hotel investment and business sector. The collateral is the Flower Garden Hotel in Ba Dinh, Hanoi and a number of projects and capital contributions at other enterprises...

According to Thien Minh Group's report, the entire 150 billion VND mobilized from the two above-mentioned bond lots was used to invest in, upgrade and renovate the Flower Garden Hotel.

Thien Minh Group was established in October 2008 in Hanoi, operating in the tourism and hotel sector. Mr. Tran Trong Kien is the legal representative and Chairman of the Board of Directors. This company is managing the Victoria system located in Vietnam (Hoi An, Can Tho, Chau Doc, Nui Sam) and Laos (Luang Prabang); a chain of 3 hotels: ÊMM Saigon, ÊMM Hoi An and ÊMM Hue; cruise ships across the country...

Thien Minh Group's report on two bond lots

In addition, Thien Minh Group also owns Hai Au Airlines, which currently operates seaplanes to transport passengers to visit Ha Long Bay; iVivu page.

Last year, Thien Minh Aviation Joint Stock Company, with Mr. Tran Trong Kien as legal representative, stopped the KiteAir project (charter capital of about 1,000 billion VND, headquarters located at Chu Lai airport, Quang Nam ).

Source link: https://thanhnien.vn/ong-trum-du-lich-viet-nam-xin-gia-han-thanh-toan-100-ti-dong-trai-phieu-18523101110460257.htm