Cenland

The HSX suspended the margin trading of CenLand stocks due to tax issues

CenLand closed yesterday’s trading session (January 21, 2021) at VND24,800 ($1.08), down 14 per cent compared to the first days of the year.

The Ho Chi Minh City Stock Exchange (HSX) has just announced that CenLand’s ticker CRE is not eligible for margin trading due to tax evasion and fraud.

According to the Hanoi Tax Department, after a tax inspection at CenLand, significant arrears were uncovered as a result of undeclared revenues and incorrect tax returns. CenLand also committed several violations including using invalid tax invoices and adding the wrong date and time on tax invoices.

Thereby, the real estate company was fined to VND369 million ($16,040) and was charged VND1.8 billion ($78,260) for value-added tax and corporate income tax (in 2018-2019), and VND605 million ($26,300) for late payment.

In total, CenLand was sent a bill for VND2.75 billion ($119,570), which the Hanoi Tax Department said the company has already paid out in full.

CenLand was established in 2001. With three subsidiaries, the company specialises in real estate including brokerage, research, marketing, and consultancy services.

The financial statement of the company from the fourth quarter of 2020 stated a net revenue of VND2.113 trillion ($91.87 million) for 2020, down 8 per cent on-year, while after-tax profit dropped 23 per cent to VND302 billion ($13.13 million). The total assets of CenLand (at the end of 2020) increased by 45 per cent to VND3.892 trillion ($169.2 million).

Charles Darwin, the greatest biologist in history, once said, “It is not the strongest of the species, nor the most intelligent that survives. It is the one that is most adaptable to change.”

Throughout about 20 years of development in the brokerage market, Century Land JSC (CenLand) is today one of the largest real estate brokers in Vietnam, after experiencing a long series of ups and downs. COVID-19 has brought a world that is less open, less prosperous, and less free. When things change, if firms do not adapt quickly, even giants can face the risk of collapse.

Thanks to fast and decisive adjustments to the changed circumstances, the company is seizing opportunities to overcome challenges towards sustainable development.

Brokerage is the core value

At the recent conference on the company’s business plan for 2020, CenLand chairman said, “Brokerage is always CenLand’s core value, so maintaining and even strengthening our sales force is a vital task.”

The sales force of CenLand receive regular training to hone their skills

The strategic sales force of CenLand includes 2,000 STDA sales executives and the CenHomes special sales team. In addition, CenLand has tens of thousands of realtors from connected agencies and authorised agents.

Sales executives play an important role in ensuring successful brokerage transactions and satisfaction for homebuyers. All of CenLand’s staff are well-trained and willing to serve customers in the best way.

CenLand’s sales force are always ready to explore new horizons and approach sales with an innovative mindset. The company has over 2,000 full-time sales executives, more than 700 connected agencies, and approximately 15,000 authorised agents.

Unique real estate products

Winning the trust of local and foreign investors, CenLand is taking the lead in the market by marketing units in up to 500 projects, ranging from terraced houses to luxury and affordable apartments.

Different from other sales agencies in the market, the company has been co-operating with real estate developers right from the early phase of some of its projects, offering valuable consultancy in project concept and giving homebuyers quality homes.

Currently, CenLand maintains its brokerage market leadership in the north, where it holds a 40 per cent market share. From the outset of this year, the company has been successfully selling real estate products in numerous projects, such as Vuon Sen (Bac Ninh), The Central (Thanh Hoa), International Overseas Vietnamese Village (Haiphong), and Dolphin (Hanoi), just to name a few.

The first 200 Cen Cuckoo serviced apartments of CenLand being deployed at Euro River Tower

Hailing the fresh investment wave in the post-pandemic time, CenLand goes on perfecting its ecosystem and launching the Cen Cuckoo serviced apartments as the company had achieved considerable success with its Cen X Space co-working space model.

Technology – the inevitable trend

Industry 4.0 is proving an inevitable development trend. As such, CenLand commits not to lag behind in the digital race, which is the key to successful innovation.

CenLand always tries their best to bring the real property of the real value to clients and business partners.

The application of advanced technology makes CenLand more professional in brokerage, generating higher efficiencies in finding customers in addition to information provision, among others.

Since 2016, CenLand has been pioneering the optimisation of technology to help realtors, investors, and homebuyers conduct transactions conveniently, safely, and quickly through the nghemoigioi.vn platform.

Upgraded from nghemoigioi.vn, Cenhomes.vn that applies Industry 4.0 debuted in last May. CenHomes’ proptech platform is expected to change the mindset of local customers and investors, creating a transparent market where buyers and sellers can access sufficient information on legal issues, construction status, and the real-time price of every project and carry out real estate transactions. In the midst of COVID-19, many successful transactions were wrapped up through the platform.

CenLand always tries their best to bring the real property of the real value to clients and business partners. The company has been providing a suite of real estate services to the market to meet the ever-increasing demands of homebuyers as well as partners.

Co-oDahlia Homes, developed by Gamuda Land, is geared up to be one of the most attractive pieces of real estate property in the upcoming yearperation a win for real estate groups

Such partnerships can be seen between Gamuda Land, one of the leading real estate developers from Malaysia, and many well-known companies in the Vietnamese real estate market such as CenLand, MuaBanNhaDat.vn, and Batdongsan.com.vn. The support and assistance of these partners have made great contributions to the development of the Gamuda City project in Hanoi’s Hoang Mai district, developed by Gamuda Land.

Thanks to the sound advice from these strategic partners and their years of expertise in the market, the Gamuda City project has been widely introduced to many over the years, providing customers with optimised solutions when looking for suitable homes for themselves and their families.

Co-operation a win for real estate groups

In its 10 years of operations in Vietnam, Gamuda Land has sought partnerships with many national and international sales agencies, with the most distinguished partnership being the one with CenLand in the area of business development, product sales and advertisement, since 2013. During this period of co-operation, CenLand has successfully marketed and sold several real estate products in the Gamuda Gardens township, which is one of the main precincts of Gamuda City – namely The ONE Residence, The TWO Residence, Iris Homes, Lily Homes, and Camelia Homes. In January 2018, Dahlia Homes was revealed to the public by developer Gamuda Land and CenLand. The product is anticipated to be the premier real estate product in the Year of the Dog.

CoBatdongsan.com.vn conference with Gamuda Land’s general director Chow Chee Fan as a key speaker-operation a win for real estate groups

Additionally, as the leading online portal for real estate info with the most traffic in Southeast Asia, in 2017, Batdongsan.com.vn has helped Gamuda Land and many real estate partners attract target customers and enhance the branding of many developers and projects to more than 10 million internet users through effective online marketing campaigns, helping developers control the consistent spread of product info to the public.

In turn, to provide interested parties with the most encompassing picture of 2018’s real estate market, Chow Chee Fan, general director of Gamuda Land Vietnam, joined the annual real estate conference hosted by Batdongsan.com.vn in December 2017 as a speaker.

To developers, integrated marketing and public relations solutions do not stop at online marketing strategies, but extend to constant interaction with potential customers through product launches and customer appreciation events, in order to make authentic connections with customers and entice them to experience and purchase real estate products. One of the most recognisable partners of many real estate developers in this field is MuaBanNhaDat.vn – the reputable online platform for real estate news, with extensive knowledge in building a solid community including sellers, buyers, and developers. Over the years, MuaBanNhaDat.vn has won the trust of many customers and strives toward the objective of developing the Vietnamese real estate market as a whole.

Racing toward the Year of the Dog, real estate developers continue to introduce diverse and competitive products to the market. However, real experience and real values brought to customers need to be the core focus, similar to the way Gamuda Land is driving forward with establishing a high-end green urban project for customers with the Gamuda City project.

Co-operative relationships with strategic partners with intensive experience will help developers achieve great milestones in the journey towards successful communication and interaction with customers, providing in-demand real estate products as well as enhancing the welfare of society and the community.

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