AsemconnectVietnam - Construction Development Investment Corporation (DIC Corp, code DIG - HOSE) has signs of continuing to deploy phases 2 and 3 of the Cap Saint Jacques Complex project through planning to borrow capital from banks.

On July 5, DIC Corp approved the loan policy to invest in the Cap Saint Jacques Complex Project - Phase 2 of the 5-star hotel block and Phase 3 of the tourist apartment & hotel block at Joint Stock Commercial Bank for Investment and Vietnam Development - Nam Ky Khoi Nghia Branch with a total loan limit of 1,500 billion VND, expected loan implementation time from the third quarter of 2024, maximum loan term of 120 months from the date of first disbursement.
In particular, for the loan amount, DIC Corp is expected to pay legal and valid costs, issue guarantees, and open LC to implement the CSJ Complex Project - Phase 2 & 3 including loan interest during the loan period. Construction time is included in the total project investment.
According to research, the Cap Saint Jacques complex is located at 169 Thuy Van, Ward 8, Vung Tau City, Ba Ria - Vung Tau province, the project is implemented in an area of 11,311.6 m2, total investment capital of VND3,577 billion. In particular, as of December 31, 2023, phase 1 including tourist apartment block C1 - 372 units has been completed and put into use; Phase 2 and 3, the Company said that the feasibility study report is being appraised by the Ministry of Construction, has been approved to adjust the investment policy and at the same time approved the investor and issued the certificate of land use rights for the entire project, approval of the environmental impact assessment report.
Previously, on June 25, DIC Corp announced information about divesting a series of investments. First, the Company approved the policy of divesting part of its capital at DIC Anh Em Ceramic Tile Joint Stock Company (Abbreviation: DIC Anh Em), transfer period before September 30, 2024.
As of the end of 2023, DIC Corp owns 89.03% of capital in DIC Anh Em, a unit with charter capital of VND180 billion, operating in the field of manufacturing and trading construction materials (ceramic tiles).
As of March 31, 2024, DIC Corp owns more than 16 million DIC Anh Em shares, equivalent to investing VND75.25 billion and is making a full provision of VND75.25 billion, net asset value is 0 copper.
In addition, DIC Corp also approved the policy of divesting all capital at Phu Rieng Kratie Rubber Joint Stock Company, with the transfer period to be completed before September 30, 2024.
As of March 31, 2024, DIC Corp owns 2 million shares of Phu Rieng Kratie, equivalent to 5% of capital in Phu Rieng Kratie Rubber. Of which, the investment value is VND20 billion, VND20 billion has been set aside and the net asset value is 0 VND.
Thus, the two divesting companies are loss-making business units and have set aside the entire value of the investment.
In addition, on June 13, DIC Corp approved the policy of dissolving Vung Tau Center Point Company Limited.
In June 2023, DIC Corp approved the policy of establishing a one-member LLC owned by the Company with the name Vung Tau Center Point One-Member LLC (established June 26, 2023); Address at No.12, 3/2 Street, Ward 8, Vung Tau City, Ba Ria - Vung Tau province; Charter capital is VND300 billion. This subsidiary operates in the field of real estate business, land use rights owned, used or leased.
According to information from the Securities Investment Newspaper, the legal representative of Vung Tau Center Point Company Limited is Mr. Le Dinh Thang (born in 1976 in Thanh Hoa), and at the same time, Mr. Le Dinh Thang is also the representative of DIC Holdings Construction Joint Stock Company.
N.Nga
Source: VITIC/Tinnhanhchungkhoan