Novaland discloses financial statement

April 18, 2023 | 17:08

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No Va Land Investment Group Corporation (Novaland) disclosed its financial statement on April 18.

It recorded a total constituency revenue of nearly $484.8 million in 2022, down 25 per cent compared to the same period in 2021, or just over 30 per cent of the planned target.

In addition, Novaland achieved nearly $94.8 million of profit after tax in 2022, down 36.85 per cent over the same period in 2021 and just achieved 33 per cent of the planned target. Total constituency includes revenue from sales and collection of service fees.

NovaWorld Phan Thiet was chosen as the venue for the opening ceremony of "National Tourism Year 2023" in Binh Thuan in March 2023, attracting tens of thousands of visitors

Since the end of 2022, Novaland has been comprehensively restructured, changed its operating model and restructured the organisation. At the same time, it implements financial structure solutions and negotiates appropriate options for debt restructuring to harmonise the interests of multiple sides, from buyers, investors and related parties.

Currently, Novaland is focusing on building key projects, handing over houses in stages to customers, and also flexibly adjusting the implementation plan of new projects. The company is actively coordinating with localities to remove obstacles and complete legal projects as soon as possible.

Dau Giay - Phan Thiet Expressway is expected to open to traffic on April 30, 2023, shortening the travel time from Ho Chi Minh City to Phan Thiet helping to connect the National Highway No.1 to NovaWorld Phan Thiet in only seven minutes

The government and community's support for the real estate market will be the driving force for Novaland to recover, contribute to changing the landscape and develop the economy in the locality.

NovaGroup to purchase eight million Novaland shares

NovaGroupJSC has registered to buy eight million shares of No Va Real Estate Investment Group JSC, a transfer of share ownership through the stock exchange's system.

Novaland restructurings Board of Directors

No Va Land Investment Group Corporation (Novaland) is carrying out the procedure to consult shareholders on changing the members of the Board of Directors, cutting from 7 to 5 and taking the re-election of these members.

Chairman re-elected at Novaland

Novaland Investment Group on February 3 announced the election of Bui Thanh Nhon as chairman.

Real estate developers propose solutions to avoid obstacles

More than 20 leading real estate enterprises have participated and given their recommendations at the Real Estate Credit Conference held by the State Bank of Vietnam on February 8, focusing on current hot issues such as access to capital, interest rates, and legal obstacles.

Novaland appoints new CEO

On March 17, No Va Land Investment Group Corporation (Novaland) issued Resolution No.18/2023-NQ.HDQT-NVLG from the Board of Directors on the appointment of Dennis Ng Teck Yow as CEO.

By Bich Ngoc

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