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Although revenues in 2019 reached more than 359 billion VND, Anh Ky Investment and Development Joint Stock Company, the unit that won the package install an 11-word slogan worth 10.99 billion VND in the province of Hoa Binh, only posted net profit. only 637 million dong. In particular, Anh Ky Company has to bear more than 124 billion dong of debt, almost 7 times more than equity.
Recently, the public has raised the decision of the People’s Committee of Hoa Binh Province to assign the Department of Culture, Sports and Tourism of this province as an investor in the construction of an 11-word slogan in the area of the Ong Tuong Hill (District from Phuong Lam, Hoa Binh City) with an estimated total investment of VND 10.99 billion.
Anh Ky Investment and Development Joint Stock Company (Anh Ky Company) is the executing party for the construction and installation of projects, each of up to nearly VND 1 billion.
Anh Ky Company was established on April 10, 2006 with the leading commercial automobile and other motor vehicle industry. According to the business register, Anh Ky Company has a registered capital of 22.5 billion VND, owned by 3 shareholders, namely Mr. Dam Anh Ky (77.54%), Ms. Nguyen Thi Thanh Thuy (14, 97%) and Mr. Dam Le Anh (7.49%). All 3 of these shareholders have permanent addresses in Group 8, Dong Tien District, City. Peace. Mr. Dam Anh Ky is currently the CEO of the company.
Regarding the business situation, Anh Ky Company’s 2019 financial report showed that the business recorded 359.863 billion VND in revenue last year.
Although revenue exceeds 300 billion, but Anh Ky Company’s cost of goods sold accounts for 96% of revenue, at 346.394 billion dong. The cost of business management is 12.330 billion. Financial expense 3.401 billion.
After deducting expenses, Anh Ky’s net profit was only 637.435 million dong. This figure has improved significantly compared to the loss of 63.886 million dong in 2018.
As of 12/31/2019, Anh Ky Company’s total assets reached more than 124 billion VND. The liabilities of this business are 105.7 billion VND, which represents 85% of the total assets, 7 times more than equity (18.53 billion VND).
In addition, in Anh Ky Company’s over 124 billion VND of total assets, there are 44.38 billion VND of inventory, 34.28 billion VND of fixed assets, 31.256 billion VND of accounts receivable, and 11.67 billion VND. Other assets, cash and cash equivalents as of December 31, 2019 of this business was only VND 1.36 billion.
According to another source from the credit institution, Anh Ky Company’s credit is classified as Ba2, that is, it belongs to the group of companies with high credit risk.
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