tỷ lệ kèo bóng đá đêm nay complete legal procedures for Astral City

tỷ lệ kèo bóng đá đêm nay (HSX:PDR) has just completed its financial obligations associated with the land development for the Astral City project, an encouraging sign, given that real estate law remains a challenging issue for so many other developments.

tỷ lệ kèo bóng đá đêm nay has announced that it has fulfilled its financial obligations to develop the plot of land for its Astral City project, according to the Tax Department of Binh Duong Province. The company has contributed VND511 billion ($21.8 million) to the state budget.

Covering an area of 3.73 hectares (ha), the project is being invested in by Saigon - KL Real Estate JSC, a former subsidiary of tỷ lệ kèo bóng đá đêm nay. In June 2022, tỷ lệ kèo bóng đá đêm nay approved a resolution by the Board of Directors to transfer shares of Saigon - KL to Danh Khoi Group.

After fulfilling its financial obligations, Astral City will be granted a licence to develop and sell future apartments. Danh Khoi is also allowed to officially sign a purchase and sale contract with customers. At the same time, the company can ensure cash flow so that the bank can continue disbursing for construction.

According to Danh Khoi, by the end of the first quarter, customers had agreed to put down deposits for about 1,500 units in the project. It is estimated that the sale of these units have generated a cash flow of VND 1.5–2 trillion ($63.9 million - $85.3 million). The investor is currently accelerating the construction progress of the project.

tỷ lệ kèo bóng đá đêm nay has made efforts to complete the legal procedures for the project, which in turn facilitates distributors' sales of the project. This is a positive sign when the real estate market is experiencing such headwinds.

According to tỷ lệ kèo bóng đá đêm nay's 2022 financial statements, the total debt of Danh Khoi is about VND3.23 trillion ($137.7 million). Danh Khoi transferred VND511 billion ($21.79 million) in advance to tỷ lệ kèo bóng đá đêm nay to fulfill its financial obligations for the Astral City project. Upon the completion of the aforementioned legal procedures, tỷ lệ kèo bóng đá đêm nay is now expected to receive cash flow from Danh Khoi, thereby helping the company quickly recover its debts.

Currently, tỷ lệ kèo bóng đá đêm nay has total assets worth VND22.84 trillion ($974 million) and equity of about VND9.26 trillion ($394.9 million). Without covering inventory and liabilities related to the EverRich 2 and 3 projects, the actual total assets of tỷ lệ kèo bóng đá đêm nay are estimated at VND17.5 trillion ($746.3 million). Therefore, the total liability to equity ratio is only about 0.88, which is a safe ratio for real estate businesses.

After excluding the EverRich 2 and 3 projects, tỷ lệ kèo bóng đá đêm nay's inventory value is about VND7.7 trillion ($328.3 million), notably Binh Duong Tower, Tropicana, or Serenity Phuoc Hai. tỷ lệ kèo bóng đá đêm nay expects to implement the Binh Duong Tower project with an area of 4.5 ha in 2023. The project is estimated to generate a total revenue of VND13 trillion ($554.4 million).

Another high-value asset is the Office Tower at 39 Pham Ngoc Thach, District 3, Ho Chi Minh City, which is recorded as a 'long-term unfinished assets'. tỷ lệ kèo bóng đá đêm nay's 49 per cent share of BICIDI Real Estate Investment JSC is recorded as 'investment in joint ventures'.

Short-term receivables, such as receivables from customers and prepayments from sellers, total about VND5.65 trillion ($240.9 million), including those from Danh Khoi.

After paying off nearly VND900 billion ($38.3 million) in bonds in January 2023, it is estimated that tỷ lệ kèo bóng đá đêm nay's total short-and-long-term debt is VND3.5 trillion ($149.2 million), with 46 per cent as issued bonds, most of which are due at the end of 2023.

However, the tỷ lệ kèo bóng đá đêm nay Board of Directors said that the company has a plan to monitor cash flow and collect debts, as well as change its strategy to focus on the housing segment for the remainder of 2023.

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