LG Innotek secures $200 million IFC loan following revenue drop
LG Innotek Vietnam Hai Phong secured a $200 million IFC loan as revenue slows, aiming to expand camera module production while meeting sustainability targets.
Masan Group (HSX: MSN) is going to issue VND1.5 trillion ($65.21 million) worth of bonds this month in a bid to restructure its debts.
Masan’s three-year unsecured bonds are expected to issue on September 26, on a coupon rate of 10 per cent in the first year. In the following years, the annual rates will be calculated by adding 3.2 percentage points to the average of the reference 12-month deposit rates posted by the four major state-owned banks.
Minimum subscription for individual and institutional investors is VND10 billion ($435,000) and VND200 billion ($8.7 million), respectively.
Techcom Securities acts as the underwriter of the bond issuance.
According to its audited financial statement for the first half of the year, Masan’s consolidated net sales felt slightly from VND17.45 trillion ($759 million) in the first half of 2018 to VND17.41 trillion ($757 million).
Its post-tax profit for the period yet slumped by 36 per cent on-year, from VND3.41 trillion ($148.6 million) at the end of June, 2018 to VND2.19 trillion ($95.26 million) this end of June.
During the period, Masan witnessed a whooping drop of over 90 per cent in its financial income, from VND1.63 trillion ($71 million) recorded in the first half of 2018 to VND158.9 billion ($6.9 million) in the first half of 2019. This was explained as a result of the decrease in gain from the disposal on its associates’ dilution.
Masan targets a consolidated net sales of VND45-50 trillion ($1.96-2.17 billion) for 2019, an up of 18-31 per cent on-year and a post-tax profit of VND5-5.5 trillion ($217.39-239.13 million)), an increase of 44-58 per cent on-year.
Masan Group’s core holdings now include FMCG company Masan Consumer, meat platform MeatLife, mineral resource company Masan Resources and Techcombank.
LG Innotek Vietnam Hai Phong secured a $200 million IFC loan as revenue slows, aiming to expand camera module production while meeting sustainability targets.
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