Saturday, October 12,2024 - 3:43 GMT+7  Việt Nam EngLish 

Hoang Son Energy continues to lose after tax, unable to pay bond interest 

 Saturday, August 31,2024

AsemconnectVietnam - After Hoang Son 2 Energy Investment Joint Stock Company, Hoang Son Energy Investment Joint Stock Company has just announced its business results continue to lose and cannot pay bond interest.

Hoang Son Energy Investment Joint Stock Company has just announced periodic financial information according to regulations related to the offering and trading of individual corporate bonds.
According to the announced information, in the first half of 2024, Hoang Son Energy's equity was VND62.4 billion, down 29.8% compared to the previous period. The debt/equity ratio increased from 6.11 times to 8.44 times in the first half of 2024, corresponding to a debt of VND526.6 billion.
Outstanding bonds/equity increased from 5.62 times to 7.37 times in the first half of 2024, equivalent to outstanding bonds at nearly VND 460 billion.
Hoang Son Energy's after-tax profit in the first half of 2024 was -VND26.5 billion. This is not the first time Hoang Son Energy has reported a loss. Previously published financial information showed that the Company's after-tax losses in 2021, 2022 and 2023 were VND80 billion, VND66.4 billion and VND77.4 billion, respectively.
Hoang Son Energy Investment currently owns the HSC.H.20.23.001 bond lot issued on December 25, 2020, with a term of 3 years and an issuance value of VND500 billion. The purpose of using the capital is to expand investment activities, including receiving the transfer of capital contributions at BB Hydro Power Dak Psi Company Limited. As of December 25, 2020, the Company has disbursed the entire amount of capital collected, VND500 billion, to receive the transfer of shares at BB Hydro Power Dak Psi.
In 2023, out of 4 times of bond interest payment, Hoang Son Energy has only made 1 payment with the value of VND14.6 billion on March 21, 2023. In the following times, the Company said it had not yet arranged the source to pay interest/principal.
It is known that Hoang Son Energy Investment Joint Stock Company has the same head office as Hoang Son Energy Investment Joint Stock Company 2, which is at A203, The Manor Tower, Me Tri Street, My Dinh 1 Ward, Nam Tu Liem District, Hanoi City. The company also operates its main business of investing in energy companies.
N.Nga
Source: VITIC/Tinnhanhchungkhoan
 

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