Vietnambreakingnews
No Result
View All Result
  • Home
  • Xosoketqua
  • Home
  • Xosoketqua
No Result
View All Result
Vietnambreakingnews
No Result
View All Result

How does FLC plan to restructure?

vietnambreakingnews by vietnambreakingnews
9 March, 2023
in Business
0
How does FLC plan to restructure?

FLC Group is a Vietnamese conglomerate that operates in a variety of industries, including real estate, aviation, hospitality, and agriculture. It was founded in 2007 and is headquartered in Hanoi, Vietnam. FLC Group has gained a reputation for its high-quality projects, particularly in the real estate industry where it has developed a number of luxury resorts and residential communities. Additionally, FLC Group is expanding its presence in the aviation industry through the operation of FLC Airlines and the construction of a new international airport in Quang Ninh province.

Conglomerate FLC plans to restructure after nearly a year of chaos by focusing on property development and resort operations and selling an unspecified stake in Bamboo Airways.

Tran Thi Huong, deputy standing CEO of the company, said at an extraordinary general meeting last week that the company would also seek to get its loans restructured to ensure it has operating funds.

This was the first shareholders’ meeting the company has been able to convene since March last year when then chairman Trinh Van Quyet was arrested for stock manipulation.

Bamboo Airways, a project Quyet had spent a lot of energy on, will no longer be a priority and be sold partly or fully, but the management has yet to disclose any information about it.

The company has invested VND4.02 trillion ($169.55 million) in the airline and made a similar provision for a potential loss since it has yet to break even.

Chairman Le Ba Nguyen said last year that FLC’s strength has always been property, resorts and golf courses, and other investments have not been profitable.

So it would sell its subsidiaries and stakes in other companies to investors, many of whom have expressed interest, and focus on its core businesses, he added.

Huong said lossmaking property projects would be sold, and housing projects under development would be completed and handed over to customers. She said the company has 200 properties of various kinds across Vietnam.

They include four resorts in Quy Nhon, Thanh Hoa, Quang Ninh, and Vinh Phuc.

“We will focus on increasing occupancy rates at these resorts as the travel season approaches.”

Its latest results, at the end of the third quarter last year, showed losses of VND1.9 trillion for the year.

It has yet to release last quarter results or audited results for the full year.

It has claimed finding an auditor has been difficult.

In the event, FLC has been delisted from the Ho Chi Minh Stock Exchange, and is only traded on the Unlisted Public Company Market.

Overall, FLC Group is a well-established and respected company in Vietnam, known for its successful and diverse business operations.

Previous Post

Super product Game Mobile RPG is adapted from a TV series with a very good plot

Next Post

Beauty queen causes controversy for becoming Miss World Vietnam judge

Next Post
Beauty queen causes controversy for becoming Miss World Vietnam judge

Beauty queen causes controversy for becoming Miss World Vietnam judge

Please login to join discussion

Recent Stories

Finding the Best Restaurants Near You

Finding the Best Restaurants Near You

19 May, 2023
Discovering Phu Quoc Island A Guide to Vietnam’s Hidden Jewel

Discovering Phu Quoc Island A Guide to Vietnam’s Hidden Jewel

19 May, 2023
online lottery results website

Review Popular online lottery results website in Vietnam

11 April, 2023
SAPA Vietnam

Experience trekking among some of the most beautiful scenery in SAPA Vietnam

11 April, 2023
Enjoy all the fantastic natural delights of Mui Ne Phan Thiet

Enjoy all the fantastic natural delights of Mui Ne Phan Thiet

11 April, 2023
Get ready for an adventure, with all the top things to do in Phu Quoc

Get ready for an adventure, with all the top things to do in Phu Quoc

11 April, 2023
  • Xosoketqua

© 2023 Vietnambreakingnews.com

No Result
View All Result
  • Home 2
  • Home 3
  • Home 4
  • Home 5
  • Home 6
  • Trang Mẫu
  • VietNam Breaking News – News from Vietnam

© 2023 Vietnambreakingnews.com