Thuong Tin Tau Cuoc issued 380 billion dong of industrial zone investment bonds

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The amount of 380 billion dong mobilized from the bond channel was used by Tau Cuoc Tin Commercial Joint Stock Company to invest in leasing B18 + B19 Plots of Thanh Thanh Cong Industrial Park.

Thương Tín Tàu Quốc phát hành 380 tỉ đồng trái phiếu để đầu tư thuê đất - Ảnh 1.

The Jamona Golden Silk complex project is invested by Thuong Tin Tau Cuoc Joint Stock Company. (Photo: charmington.org)

According to information from the Hanoi Stock Exchange (HNX), Thuong Tin Tau Cuoc JSC has just announced the issuance of VND 380 billion of individual bonds to domestic organizations on July 20.

Bonds have a term of 12 – 30 months, face value of 1 million dong / bond. The interest rate applied for the first 3 months is 11% / year, adjusted every 3 months. The interest rate applicable for subsequent periods is determined by the 12-month term savings interest paid at the end of the period plus a margin of 4.6% / year, but not lower than 11% / year. Bonds receive a bond every 3 months.

The intermediary organization that arranges for this bond lot is Asia Pacific Securities Joint Stock Company (APEC) and VPBank (89 Lang Ha, Dong Da, Hanoi) is the security asset management unit.

The purpose of using the capital is informed by Thuong Tin Tau Cuoc to invest in leasing B18 + B19 plots at N11 road, Thanh Thanh Cong industrial park (Trang Bang district, Tay Ninh province) for sublease or other purposes.

Security assets are shares of an associate that are owned by the enterprise or land use rights, property rights and rights arising from the project of the enterprise.

According to the research, Thuong Tin Tau Cuoc Joint Stock Company is a subsidiary of Saigon Thuong Tin Real Estate JSC (TTC Land, code: SCR). As of June 30, 2020, TTC Land is the parent company, holding up to 99.9% of voting rights in this business.

This business was established in November 2011, with its head office at 16/9 Bui Van Ba, Quarter 2, Tan Thuan Dong Ward, District 7, Ho Chi Minh City. Main business is real estate.

The legal representative cum Kiem Chairman of the Board of Directors cum Director is Mr. Lam Minh Chau (born in 1965). Previously, this position was held by Mr. Bui Tien Thang (Born in 1972), Mr. Nguyen Van Trien (born in 1976), Ms. Tran Thi Thu Hoai (born in 1983) and Mr. Le Hung Cuong (born in 1963).

In particular, Mr. Bui Tien Thang is currently Vice Chairman cum CEO at TTC Land.

Source: vietnambiz.vn