Aqua City investor lost more than 200 billion VND 3
In the recent information announcement, Aqua City Company has a negative after-tax profit of nearly 204 billion VND, a decrease of 30% compared to the first 6 months of 2022. This enterprise continues to operate at a loss.
Regarding financial health, Aqua City Company’s total liabilities as of the end of June this year increased slightly over the same period, recording about VND 11,400 billion.
In the period 2020-2021, Aqua City Company has 8 bond issuances.
A corner of the duplex townhouse subdivision at the Aqua City project (Dong Nai).
Aqua City Company Limited is a subsidiary of No Va Real Estate Investment Group (Novaland – NVL) and is the investor of Aqua City urban area in Bien Hoa City, Dong Nai.
According to Mr. Nhon, Aqua City has been approved for investment policy, approved detailed construction planning at a scale of 1/500, land allocation, land lease for implementation, and construction permit.
However, for two years, the entire project had to be temporarily suspended because of `obstacles` in approving planning adjustments and lack of agreement on social housing land funds.
After being cleared by the Government’s Working Group, the project restarted at the end of June. By early August, Novaland was allowed to sell some houses in Aqua City.
Along with the investor Aqua City, many subsidiaries in the Novaland ecosystem continuously reported losses.
Poor business results of subsidiaries directly impact Novaland’s financial situation.
