The secretive owner violently spent more than 4,200 billion to acquire 36.65% of Sudico’s capital
An Phat Trading Service Investment Joint Stock Company has just reported on becoming a major shareholder of Song Da Industrial Park and Urban Development Investment Joint Stock Company.
Accordingly, An Phat Trading Service Investment Joint Stock Company announced that it had bought 41.7 million Sudico shares, equivalent to 36.65% of capital, becoming a major shareholder from April 27.
In this deal, An Phat spent more than 4,200 billion dong to buy the entire lot of SJS shares of Sudico with the winning price of 102,000 dong/share, 100 dong higher than the starting price. Previously, this investor did not own any SJS shares.
Sudico is a state-owned enterprise, under Song Da Corporation, established on September 12, 2001. In 2003, Sudico transformed into a joint stock company with a charter capital of 30 billion VND.
Sudoku used to be a “big man” in the real estate market, thanks to the My Dinh – Me Tri urban area, which has a prime location in the west of Hanoi. The project has a scale of 36ha with a total investment of 4,500 billion VND, is one of the largest projects in Hanoi in the early 2000s.
After this success, Sudico implemented many large urban, residential and eco-tourism projects throughout the country such as: Nam An Khanh new urban area project and its extension (total area 280ha), project housing Van La – Van Khe (12ha), Song Da hotel project – Ha Long; residential project Long Tan – Nhon Trach – Dong Nai (65ha); Hoa Hai – Da Nang project (12ha), project of Da Ngoc Vung River eco-tourism area (39ha)… However, some of these projects have encountered legal problems.
In recent years, Sudico has no money to pay dividends and has to pay off debts. As of December 31, 2021, Sudico has total assets of more than VND 6,900 billion, accounting for most of the unfinished business costs in two projects of Nam An Khanh New Urban Area (VND 3,538 billion) and the New Urban Area. Hoa Hai – Da Nang new urban area (1,164 billion).
According to the consolidated financial statements for the first quarter of 2022, Sudico recorded a net revenue of 192 billion dong, up 21% over the same period last year; profit after tax is 13 billion dong, down 53%. Compared with the business plan of 951 billion dong in revenue and 150 billion dong in profit after tax, Sudico has only achieved 20% and 9% of these two most important targets, respectively.
Meanwhile, An Phat Investment Trading Service Joint Stock Company is an enterprise established in 2016 with headquarters on the 3rd floor, Lotus building, 2 Duy Tan, Cau Giay district, Hanoi.
According to the latest change of business registration on September 30, 2021, An Phat has increased sharply Authorized capital from 120 billion to 1,800 billion.
Chairman of the Board of Directors of An Phat is Mr. Pham Thanh Huy (born in 1977). Mr. Huy is also the legal representative of Song Hong Sun Joint Stock Company, a real estate enterprise based in Vinh Yen city, Vinh Phuc province.
Song Red Sun is the investor of the Song Red Urban Area project in Me Linh commune – Tien Phong commune, Me Linh district, Hanoi city. Many assets related to this project are used as collateral at Viet A Bank – the bank that is also the main creditor of Sudico.
Thanh Son
Binh Minh Investment and Trading Co., Ltd, newly established in September 2021, is willing to pay a price of more than 1 billion VND/m2 to win the auction of plots 3-9 in Thu Thiem, only after the record price. of Tan Hoang Minh in Lot 3-12.
at Blogtuan.info – Source: vietnamnet.vn – Read the original article here
