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Wednesday, July 24, 2024

Over 12 million shares of Corporation 36 chairman used as collateral for loans

The Saigon Times

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HCMC – The board of directors of Corporation 36, whose G36 shares are traded on the Unlisted Public Company Market (UPCoM), has passed a resolution about using 12.54 million G36 shares owned by its chairman Nguyen Dang Giap as collateral to secure bank loans.

Under the resolution recently signed by Nguyen Dang Giap, the board will use his shares as collateral for the company to take out loans at the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) between 2022 and 2023.

On the UPCoM, G36 slid 1.92% over the session earlier at VND10,200 today, August 22. Thus, the collateral mentioned above is worth over VND127.9 billion.

According to its consolidated financial statement, the company saw its revenue in the second quarter of this year improving 10.8% year-on-year at VND246.5 billion. Its after-tax profit made a rebound, from minus VND15.5 billion in the second quarter of 2021 to VND5.7 billion in the same period this year.

In the first half of 2022, G36 generated over VND315 billion in revenue, declining 22.7% compared to the 2021 figure. Its after-tax profit was minus VND2.62 billion, higher than the losses of VND2.17 billion incurred in the first half of 2021.

For 2022, the company set its target revenue and before-tax profit targets at over VND2.2 trillion and VND13.1 billion, respectively.

The benchmark VN-Index ended today’s session in negative territory as it shed 8.75 points, or 0.69%, against last Friday at 1,260.43, with 130 winners and 326 losers. Market turnover on the southern bourse moved flat compared to the previous session, with over 619 million shares worth more than VND14.8 trillion changing hands. Shares traded in block deals accounted for some VND1.6 trillion.

On the northern bourse, the HNX-Index lost 3.2 points, or 1.08% versus last Friday at 294.73, with 60 stocks expanding and 120 others dipping.

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