TNI ‘invested” in the 40-story condotel project in Da Nang

Thanh Nam Group is expressing its ambition to enter the real estate market by announcing the launch of a 40-storey condominium in Da Nang at the end of this year. This unit is confident to earn interest from VND500 – 600 billion from this project.

TNI has a precursor of Thanh Nam Import Export Co., Ltd, established in 2014 with chartered capital of VND500 million. Moving to a joint stock company in 2009, TNI has made four capital increases, raising its chartered capital to VND210 billion by 2017.

TNI is looking to jump into the real estate market in Danang

TNI is looking to jump into the real estate market in Danang

Business activities of TNI mainly trade, supplying stainless steel products in sheets, coils, pipes of various types (hot rolled steel, cold rolled, stainless steel decoration, black steel plate – coil – tube etc … ). Ninety percent of TNI’s revenue comes from distributing products on the domestic market.

Due to the fact that TNI always relies on the market price, its revenue has been fluctuating for many years.

Specifically, in FY2013, net sales came to VND1,283 billion, down to VND772 billion in 2014 and VND1,287 billion in 2015, down to VND709 billion in 2016.

Along with that, the net profit of the company is also very uncertain. 2014 is VND51 billion, 2015 is VND11 billion, 2016 is VND12 billion. Particularly in 2013, due to business under cost price, TNI suffered a net loss of more than VND45 billion.

TNI’s business performance over several years

Since the listing on May 28, 2017, TNI has been “hammering” like the company’s business situation, reaching the ceiling price (VND 13,050 / share) below par value (VND 9,720 / share), then jumped again. The fluctuation of TNI shares was so strong that the chairman Nguyen Hung Cuong had to “reassure” the shareholders at the annual shareholders’ meeting: “The price of TNI shares is completely market …”.

It is unclear whether the plan has hastily forecasted a big profit

Also at the annual shareholder meeting in 2017, TNI leaders said the company is planning to invest in real estate resort in Da Nang. The project has a size of 2,039m2, 40 storeys high, is a combination of four star hotel and luxury apartments for sale (about 200 apartments); Expected to launch and sell by the end of this year.

Remarkably, although it is unclear about the design, capital requirements and capital mobilization plan, TNI’s management is still confident that shareholders will earn VND500-600 billion from this project!

According to the survey, the land plot for the above-mentioned project is located at Lot A1.1, Hoang Sa street, Man Thai ward, Son Tra district, Da Nang city, has been TNI “2015” with the value of 285 billion copper.

However, in 2016, the value of the land is onlyVND 153 billion (loss VND132 billion). Coincidentally, the cash flow from investing activities (financial statement audited 2016), TNI recorded the revenue from liquidation and asset sale was VND133.4 billion – equivalent to the “loss” of the value of the project land in Da Nang.

As such, TNI has been able to sell the land at this plot to get financial investment. TNI financial auditing report 2016 showed that financial investment of TNI increased very strongly compared to 2015, from nearly VND6 billion to VND62 billion.

TNI’s leaders said that in order to have money to implement the resort project in Da Nang, the company plans to raise capital from existing shareholders or from strategic investors. With debt of 236 billion dong (at the end of Q1 / 2017) – equal to owner’s equity – loan balance of TNI is generally still quite wide.

What else is TNI?

In addition to the 2.039m2 land plot projected in Da Nang, TNI said the company is considering a joint venture with a Korean partner to build the next project in Da Nang on an area of ​​6,000 m2. However, at this project, TNI contributed only 35% of the capital. Currently, the basic information about the project has not been disclosed by the company.

In addition to this plot, TNI is entrusting some other real estate investors in Da Nang with a total value of about VND 55 billion, including:

Authorized Ms. Vu Thi Trang to invest VND14.7 billion in plot A35 land 11, map No. 756, urban complex in Son Tra, Dien Ngoc, Tho Quang ward, Son Tra district, area of ​​399sqm.

Delegate to Ms. Dao Thi Thu Huong VND15.7 billion investment in block C5 in Zone C urban complex, commercial and high-rise services, first line Son Tra, Dien Ngoc, area 428sqm.

Investing in the land lot B3-4-21, the map of Habour Ville, Nai Hien Dong ward, Son Tra district, area of ​​296sqm.

Entrusting Mr. Nguyen Tuan Manh to invest in Block A1 of Block A in the complex of urban, commercial and high-rise services, at the beginning of Son Tra, Dien Ngoc, covering an area of ​​1,000sq.m.

You are reading the article TNI ‘invested” in the 40-story condotel project in Da Nang in the Real Estate category at information sharing, feedback please email to, Hotline (+84) 898 898 688 (24/7).

Special thanks!

Đánh giá bài viết

Related Posts
    The Vinhomes Grand Park project in District 9 (Thu Duc City) is a mega-urban park of the investor...
    Situated in a golden location at No.2 Ton Duc Thang Street, Distric 1, HCMC. The Centennial is...
    Located in Duong To ward, Phu Quoc district, Kien Giang Province, Sonasea Villas & Resort is a...