HO CHI MINH CITY INFRASTRUCTURE INVESTMENT JSC’s BOND – CII121029
Company Information
At the end of 2001, Ho Chi Minh City Infrastructure Investment Joint Stock Company (CII) was established to mobilize investment capital and implement the construction of infrastructures in Ho Chi Minh City. In 2013, CII conducted financial restructuring with investments in companies in the field of infrastructure construction.
After more than 14 years, the Company has affirmed its brand as an investor with strong financial basic and reputation in the field of infrastructure including: roads and bridges, residential area infrastructure, industrial infrastructure, clean water production and supply, traffic toll collection services.
Transportation infrastructure
Building roads, key traffic arteries, connecting the region. Exploiting BOT traffic toll collection on some highways.
Estate
Developing high-end real estate and infrastructure projects in Thu Thiem New Urban Area and mid-range real estate projects spanning the territory of Vietnam.
Water infrastructure
Developing to become a symbol of community trust in the development of water supply and drainage in Vietnam.
Financial Situation
Revenue from financial activities contributes significantly to CII’s profits. In the first 6 months 2023, the Company recorded a profit from divestment activities at some subsidiaries (Saigon Water Infrastructure Joint Stock Company and NBB Quang Ngai One Member Limited Company) of VND 172 billion and VND 424 billion.
The Company’s gross profit margin and after-tax profit margin decreased compared to the same period last year because of the increased in capital costs from real estate business activities due to the general situation of the real estate market in 2023 and the decline in the financial activities segment (because in 2022, recording a sudden profit from divestment activities at NBB Subsidiary helped CII earn a profit of ~ 800 billion VND).
| Income statement (Bil VND) | 6M/2022 | 6M/2023 |
|---|---|---|
| Gross revenue from sales and service provision | 1,707 | 1,159 |
| Revenue from financial activities | 1,118 | 680 |
| Gross profit | 711 | 477 |
| Net profit | 800.72 | 117.84 |
| Gross profit margin | 41.65% | 29.98% |
| Net profit margin | 46.91% | 7.41% |
Bond information
| Issuance Scale | VND 500.000.000.000 (500 bil VND) |
| Issue Date | 21/10/2021 |
| Maturity Date | 21/10/2024 |
| Term | 3 years |
| Coupon payment term | Every 3 months |
| Coupon interest | Fixed 9.5% per year |
* Pinetree only offers liquidity support for the bonds distributed by Pinetree.
** Pinetree’s liquidity support service will be offered at an appropriate call price based on market conditions and the company’s policies throughout the maturity of the bonds.
