A 2,800 billion VND resort real estate project in Hoi An has just been transferred to a subsidiary by Bamboo Capital
The Board of Directors of Bamboo Capital JSC (code: BCG) has just approved a resolution to transfer all contributed capital of more than 502.5 billion VND at Indochina Hoi An Beach Villas Co., Ltd – the investor of Malibu MGM Hoi An project.
The transferee is BCG Land JSC, another subsidiary of Bamboo Capital specializing in real estate. The transfer period will be in March 2022.
Thus, Bamboo Capital Joint Stock Company officially withdrew 89% of charter capital at Indochina Hoi An Beach Villas Co., Ltd.
Regarding the Malibu MGM Hoi An project, this project follows the resort real estate model, with a scale of 11 hectares with 96 villas and 668 condotels, total investment capital of 2,811 billion VND. According to the plan, the company will hand over the condotel part of this project from the first quarter of 2022 and continue to open and sell the rest this year.
This is also one of two projects that are forecast to lead the company’s business results this year, besides the Hoi An D’or project. According to Yuanta Securities, the total revenue of these two projects is forecast to reach VND4,987 billion and profit after tax of VND1,042 billion, accounting for 85% and 65.5% of the company’s total consolidated revenue and profit, respectively.
Radisson Hotel Group will be the official operator and manager of the Radisson Blu Hoi An project when the project is put into operation.
Regarding the project transferee, last February, Bamboo Capital announced a plan to offer 60 million individual shares at 20,000 VND/share, expected to collect 1,200 billion VND to contribute capital to BCG Land. to carry out transactions related to real estate projects such as M&A, investment, joint venture, association,…
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