AsemconnectVietnam - Helios Investment and Services Joint Stock Company, once a major shareholder of Bamboo Capital, owns VND4,500 billion in bonds, has a large capital scale but huge liabilities, while profits are only a few hundred million dong.

Helios Investment and Services Joint Stock Company has just announced periodic financial information for the first half of 2024. Accordingly, as of June 30, 2024, the Company's equity reached VND1,933 billion, down 8% compared to the same period last year.
The debt/equity ratio increased from 3.24 times in the first half of 2023 to 3.27 times in the first half of 2024, corresponding to liabilities of VND6,320.9 billion.
Bond debt/equity ratio decreased from 2.48 times in the first half of 2023 to 2.33 times in the first half of 2024, equivalent to bond debt of VND4,503.8 billion.
Notably, while in the same period last year Helios Investment and Services reported a profit after tax of VND94.9 billion, in the first half of 2024, the Company suffered a loss after tax of VND74.9 billion.
In recent years, Helios Investment and Services' business results have not been positive. With a sharp increase in capital scale from more than VND700 billion in 2019 to more than VND2,000 billion in 2023, an increase of 185.7%, the Company's after-tax profit is often only a few hundred million dong, even the Company lost nearly VND60 billion in 2021 and lost VND74.9 billion in the first half of 2024.
In addition, Helios Investment and Services' liabilities also grew strongly, peaking at VND7,622.7 billion in 2021 and then maintaining a level of over VND6,300 billion until now.
According to information published on the Hanoi Stock Exchange (HNX), the Company currently owns 3 bond lots: HELIOS.BOND.01.2019.1000(1), HELIOS.BOND.01.2019.1000(2) and HISCH2124001.
Specifically, bond code HELIOS.BOND.01.2019.1000(1) issued on June 10, 2019, issuance value of VND1,000 billion, term of 5 years, issuance interest rate of 8.5%/year.
Bond code HELIOS.BOND.01.2019.1000(2) issued on August 20, 2019, issuance value of VND500 billion, term of 5 years, issuance interest rate of 8.5%/year.
These two bonds will mature in June and August 2024, respectively. However, Helios Investment and Services has successfully extended the term by 2 years, pushing the maturity date back to 2026.
Bond code HISCH2124001 was issued on June 23, 2021, with an issuance value of VND3,000 billion, a term of 36 months, an interest rate of 11%/year, and a maturity date of June 23, 2024. By September 2023, the Company had adjusted the term of this bond to 60 months, so the maturity date will be June 23, 2026.
In total, the Company owns VND4,500 billion of outstanding bonds. In 2023, the Company paid more than VND470 billion in bond interest.
In the market, Helios is known as one of the major shareholders of Bamboo Capital Group. Specifically, in July 2021, Helios became a major shareholder of Bamboo Capital Group (BCG). By July 20, 2023, Helios announced that it had sold 7.5 million BCG shares. After the transaction, the number of BCG shares held by this unit decreased from 31.6 million shares to 24.1 million shares, corresponding to a decrease in ownership ratio from 5.93% to 4.52% of charter capital, so it is no longer a major shareholder of Bamboo Capital.
Helios was established in 2012, headquartered on the 14th Floor, Vincom Building, 72 Le Thanh Ton, Ben Nghe Ward, District 1, Ho Chi Minh City. The company has a charter capital of VND2,000 billion, the shareholder structure is not disclosed.
The current General Director and legal representative of the company is Ms. Pham Thi Ngoc Thanh. Ms. Thanh also held the position of Chairwoman of Helios' Board of Directors. Ms. Thanh is also known as the General Director of Sao Sang Sai Gon Joint Stock Company - the investor of the King Crown Village project. The project is built on a land area of 9,100 m2 located near Hanoi Highway, District 2, Ho Chi Minh City. Sao Sang Sai Gon is a subsidiary of Bamboo Capital with a controlling interest of 65%.
N.Nga
Source: VITIC/Tinnhanhchungkhoan